Six things to expect in 2019
1. FSLAB will pass virtually as is
Once MPs return from their summer break, you can expect to see the Financial Services Legislation Amendment Bill back on their agenda. So far, there's been widespread (if seemingly a little uninformed) support for the bill from across the House. It seems unlikely there'll be any significant changes in committee stage. FSLAB will probably rocket up the order paper once the code of conduct for financial advisers is signed off by Commerce Minister Kris Faafoi.2. The code is still to be cracked
Speaking of which, the code working group is due to submit its code of conduct proposal to Faafoi over the next few weeks. You can expect to see some changes from the draft presented to advisers - particularly around the contentious CPD requirement, which, while requiring CPD, gave no guidance as to how much. The issue of systems and processes being able to fill in gaps in advisers' qualifications may also be addressed.
3) Some RFAs will get a shock: Despite the best interests of many, some RFAs are still in the "wait and see" camp. Some will get a nasty surprise if (as expected) the last box-ticking happens quickly and the new regime takes hold before they expect. Licensing, while not an impossible hurdle, may be harder than some small businesspeople expect.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)