Life After Licensing: feedback closed

As we marked the first year of the new financial services regulatory landscape and the initial reporting deadline for financial advice licenses on 30 September 2024, the Financial Services Council (FSC) invited the input of financial advisers and financial advice providers.

We are committed to supporting financial advisers and financial advice providers as they navigate and succeed in the New Zealand's financial services market, and collected responses in December 2024.

You may already be familiar with some of our initiatives, including the Get in Shape webinar series, Future Ready Summits, Disclosure Guide, Financial Advice Law Guide, and the Locum Financial Advice Arrangements Guide as well as sessions at the FSC Conferences.

 We are exploring two key areas:

1. Keeping up with compliance
   We want to understand how FAPs and financial advisers are managing the Financial Markets Conduct Act (FMCA) requirements, which were fully implemented in March 2023. This includes how you’re adapting to monitoring visits from the Financial Markets Authority (FMA).
   
   
2. Understanding ongoing impacts of compliance on your business
   Are compliance requirements impacting your ability to engage with clients effectively? In this section we would like to understand the compliance aspects of giving advice that you find most difficult to understand, what is expected or are the most burdensome on doing business.

The responses help us identify themes to guide the FSC’s focus moving forward to help us shape industry benchmarks and best practices so we can understand ‘what good looks like’. All responses will remain anonymous.

If you'd like to receive a summary of the results, please contact us on fsc@fsc.org.nz

Deadline to respond - feedback now closed.

Thank you to those who took the time to contribute. Together, we can continue to strengthen the financial advice industry in New Zealand!