Commission consults on standard conditions for QFEs
The Securities Commission invites submissions on proposed standard conditions for financial adviser businesses that
apply for Qualifying Financial Entity (QFE) status. This follows the Commission’s consultation early this month on the
licence conditions for Authorised Financial Advisers.
QFE status is available to entities that satisfy the Commission that they have the capacity to take responsibility for
their financial advisers. The QFE is permitted to employ or engage financial advisers who are not individually
regulated, and must comply with the terms and conditions issued by the Commission.
The consultation paper sets out the content of the proposed standard conditions for QFEs. It is relevant for all QFE
applicants.
A separate consultation paper on disclosure requirements for QFEs will be issued shortly.
Entities that wish to apply for QFE status must first submit an Adviser Business Statement to the Commission for
consideration by 1 December. The Commission has received just over 20 statements to date.
The consultation paper is published at www.seccom.govt.nz.
Submissions close at 5pm on Friday 22 October 2010.
ENDS