Financial Advisers Disclosure Regulations 2010 released

10/11/2010
The Financial Advisers Disclosure Regulations 2010 (“disclosure regulations”) was recently released.
The regulatory regime comes fully into force in 1 July 2011 and all financial advisers are required to have a disclosure statement in the form prescribed by the disclosure regulations in place from that date. Until 1 July 2011, you may continue your current disclosure practice or choose to move to the new prescribed disclosure statement.

Sovereign has reviewed the disclosure regulations and has provided for you the primary and secondary disclosure statement for AFAs and the disclosure statement for RFAs. They are in editable format and we have provided guidance notes within each document as to what may be edited, as headings, words and order may not be changed.

Click here for the Financial Advisers Disclosure Statement AFA

Click here for the Financial Advisers Disclosure Statement RFA

Click here to review the disclosure regulations in full.

Updated category 1 & 2 product listings

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’).