More consultation on Minister's to-do list

In its briefing to incoming Commerce and Consumer Affairs Minister Kris Faafoi, the ministry outlined what it thought should be his priorities - and an order of work that summarised areas of key focus.

Fourth on the list was a decision to release the consultation papers on regulations to support the new regime for financial advice and financial service providers.

While the Financial Services Legislation Amendment Bill has had its first reading and has been sent to select committee,  the industry is still waiting for documents outlining how disclosure might be treated under the new rules.

All advisers will have to meet the same standards of disclosure - but it has not yet been revealed what they will be.