Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendment Regulations 2020

2020/132

Coat of Arms of New Zealand

Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendment Regulations 2020

Patsy Reddy, Governor-General

Order in Council

At Wellington this 22nd day of June 2020

Present:
Her Excellency the Governor-General in Council

These regulations are made under sections 546 and 548 of the Financial Markets Conduct Act 2013—

(a)

on the advice and with the consent of the Executive Council; and

(b)

on the recommendation of the Minister of Commerce and Consumer Affairs made in accordance with section 549 of that Act.

Contents

1Title
2Commencement
3Principal regulations
4Regulation 3 amended (Overview)
5New subpart 1 heading in Part 6 inserted
Subpart 1—Issue of licences
6New subpart 2 heading in Part 6 inserted
Subpart 2—Conditions of licences
7Cross-heading above regulation 191 replaced
Conditions imposed by regulations
8New subpart 3 heading in Part 6 inserted
Subpart 3—Disclosure obligations
9Cross-heading above regulation 223 replaced
Subpart 4—Client agreements
10Cross-heading above regulation 224 revoked
11New subpart 5 heading in Part 6 inserted
Subpart 5—Additional regulation
12New regulations 229A to 229J and cross-heading inserted
Additional regulation of financial advice and financial advice services
229AOutline of disclosure requirements when giving financial advice to retail clients
229BApplication and interpretation
229CInformation that must be publicly available
229DInformation that must be given when nature and scope of advice known
229EInformation that must be given when advice given
229FInformation that must be given if complaint received
229GDisclosures relating to advice not required if client has current information
229HGeneral requirements for form and manner of disclosure
229IAdditional requirements for form and manner of disclosure relating to advice
229JInformation given or supplied by provider
13Cross-heading above regulation 238 replaced
Subpart 6—Holding and application of investor funds and property by derivatives issuers
14New Schedule 21A inserted
Schedule
New Schedule 21A inserted
Explanatory note
Administrative Information