FSC's FAP round table breakfast with the FMA

The FSC is committed to supporting financial advice providers in an evolving regulatory environment. 

Held on Tuesday 19 November, representatives from the FSC's professional advice community gathered for a focused and insightful discussion with the Financial Markets Authority (FMA).

The breakfast round table, sponsored by Quality Product Research (QPR), was invaluable for fostering collaboration and understanding with the FMA.

Highlights of the session:

• Ongoing engagement with regulators is valuable, and participants felt it was great to engage with the FMA to talk about how the new regime is working, approaches to enforcement and other initiatives.
• A key topic of discussion was the background and an overview of the Conduct of Financial Institutions (CoFI) regime.  
• Other topics included observations on remediations, fair conduct programmes and an overview of the CoFI intermediated distribution guide.
  
• FMA's presenters included Michael Hewes (Director Deposit Taking, Insurance and Advice) along with Anna Jared (Technical Specialist – Deposit Taking, Insurance & Advice), Emma Wallace (Manager, Insurance) and Romil Ghelani (Head of Financial Advice).
• An engaging Q&A was facilitated by Russell Hutchinson (Director, QPR) and provided the attendees with an opportunity to ask pertinent questions relevant to their businesses.

This was the third Financial Advice Provider Forum event held over the year in partnership with QPR, following the inaugural session at FSC's Outlook 2024 and the second at the FSC24 Conference last September with Samantha Barrass, Chief Executive of the FMA.

We look forward to continuing the dialogue with the financial advice community and the FMA.

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View all the sessions for Professional Advice from the FSC24 Conference here.