News

DIMS questions remain for advisers

Friday 1st of November 2013

That’s despite a guidance note on DIMS issued by the FMA last week.

The FMC requires that an independent custodian hold client money and property when an adviser is providing DIMS.

The FMA released a guidance note last week that said independent custodians would be required unless otherwise permitted by the terms of an AFA’s authorisation. What those exemptions will be and who the...

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