New Zealand Legislation: Acts

25 QFE must make disclosure before personalised service provided to retail client

• (1) A QFE or a member of a QFE group that, acting through a QFE adviser, provides a personalised service to a retail client must ensure that prescribed information is disclosed to the client, in accordance with this Act and the regulations,—

  • (a) before the service is provided; or

  • (b) if not practicable before, as soon as practicable after the service is provided.

  (2) Regulations for the purposes of this section may require disclosure in relation to any or all of the following matters:

  • (a) contact details:

  • (b) the type of financial adviser:

  • (c) dispute resolution arrangements:

  • (d) matters required to be disclosed by the QFE's terms and conditions of a grant of QFE status:

  • (e) whether the QFE or member of the QFE group provides any other licensed service.

  (3) Regulations may provide for the form that the disclosure must take.

  Section 25: substituted, on 1 July 2010, by section 11 of the Financial Advisers Amendment Act 2010 (2010 No 40).