The Code Committee is a Statutory Entity responsible for the drafting of regulations for authorised financial advisers covered by the Financial Advisers Act.

Butler says he deems it appropriate to take this step in order to protect the integrity of the process he is leading to ensure that there are no actual or perceived conflicts that might impact on this integrity.

"This is a personal decision that I have come to and it was a tough one, as it breaks the strong, personal links I have had with the company, its people, and partners over the past eight years."

Mortgage Link directors Phil Christmas and Charlie Reid said the board fully agrees and understands the reasons for this resignation and they all wish Ross well as he and the Code Committee try to sort out the huge task of rewriting the rules for financial advisors.  

"Ross has been an integral part of the evolution of the Mortgage Link Group.

"He has consistently pushed the group's drive towards compliance and advice while not losing sight of the unique family and fun values that Mortgage Link represents."

Butler says his decision must not be seen as any reflection on the brand and reputation of the company.

"I have strong confidence in the company, its business model, its board, management and staff, and in its brokers and their teams around New Zealand."

Phil Christmas is acting as the chairman until a suitable replacement is found.