2014/329
Financial Advisers (Custodians of FMCA Financial Products) Amendment Regulations 2014
Jerry Mateparae, Governor-General
Order in Council
At Wellington this 3rd day of November 2014
Present:
His Excellency the Governor-General in Council
Michael Webster,
Clerk of the Executive Council.
Explanatory note
This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 1 December 2014, amend the Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014. The amendment clarifies the application of the regulations where a person (A) provides FMCA custodial services to a client on behalf of the business of another person (B). In this case, B is liable under the Financial Advisers Act 2008 if the requirements of these regulations are breached. The amendment clarifies that—
Issued under the authority of the Legislation Act 2012.
Date of notification in Gazette: 4 November 2014.
These regulations are administered by the Ministry of Business, Innovation, and Employment.