Frequently asked questions

The following information is a guide and while we have provided general responses, if you require a detailed answer specific to your particular circumstances, we recommend that you seek independent legal advice.

The answers here come from a number of different sources and are believed to be reliable but are not warranted to be correct or to represent the final form of any regulatory, legislative or industry standards. No reliance should be placed on these documents as sufficient to meet all your regulatory obligations, some of which are still to be legislated.

Please click on the below links for your required section and associated FAQs.

4/08/2011

The new legislation has categorised financial products into two categories (Category 1 and Category 2), and sets out which type of adviser is qualified to advise and sell. Many advisers are wondering if the products they sell or have on their books are Category 1 or Category 2 products.

Asset Magazine - A Dummies Guide to QFEs

18/01/2011

Asset Magazine look at the QFE space and what it means for advisers.

This article outlines what a QFE is and what options there are for advisers in the new regulated environment.

Asset Magazine - QFE Article Dec 2010

When do financial advisers have to register?

19/11/2010

After consultations with the Ministry of Economic Development this morning, we received clarification on who needs to be registered by 1 December.

Sovereign takes the lead in a new regulatory world

16/11/2010

Sovereign is embracing legislation that will set new professional standards for financial advisers by applying to become a Qualifying Financial Entity (‘QFE’).