New Zealand Legislation: Acts

23 What financial adviser must disclose

• (1) Regulations for the purposes of prescribing disclosure for financial advisers under section 22 may require disclosure,—

  • (a) for authorised financial advisers, in relation to any or all of the matters referred to in subsection (2).

  • (b) for other financial advisers, in relation to any or all of the matters referred to in subsection (2)(a) to (g).

  (2) The matters are—

  • (a) contact details:

  • (b) the type of financial adviser:

  • (c) financial adviser services provided (including financial products in relation to which a financial adviser service is provided):

  • (d) fees:

  • (e) material interests, relationships, or associations:

  • (f) remuneration:

  • (g) dispute resolution arrangements:

  • (h) professional or business experience relevant to performance of a financial adviser service:

  • (i) criminal convictions:

  • (j) disciplinary proceedings:

  • (k) adverse findings by a court or the FMA:

  • (l) bankruptcy or other insolvency proceedings:

  • (m) indemnity insurance:

  • (n) matters required to be disclosed by the authorised financial adviser's terms and conditions of authorisation.

  Section 23: substituted, on 1 July 2010, by section 11 of the Financial Advisers Amendment Act 2010 (2010 No 40).

  Section 23(2)(k): amended, on 1 May 2011, by section 84(3) of the Financial Markets Authority Act 2011 (2011 No 5).