Commission consults on standard conditions for advisers
The Securities Commission invites submissions on proposed standard conditions for Authorised Financial Advisers (AFAs).
The Financial Adviser’s Act allows the Securities Commission to authorise financial advisers for a specific range of
services for a specified period. All AFAs will be subject to terms and conditions issued by the Securities Commission.
The consultation paper sets out the content of the proposed standard conditions for AFAs. It is relevant for all
financial advisers applying for authorisation, including those advisers working within Qualifying Financial Entities
(QFEs) who need to be individually authorised.
Applications for authorisation can be processed now for authorisations to commence from 1 December 2010. Financial
advisers will need to be authorised by 1 July 2011.
A separate consultation paper in relation to terms and conditions for QFEs will be issued at a later date.
Submissions close at 5pm on Friday 1 October 2010.