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.

Those who only provide financial adviser services (company and/or individual financial advisers) have until 31 March 2011 to register, after this date advisers cannot trade if not registered.

Financial Service Providers who provide more than just financial adviser services have to be registered on the Financial Service Providers Register (FSPR) by 1 December 2010.

Advisers should review the services they provide against the list found at Meaning of Financial Service. In particular, any adviser who handles money, other than passing on cheques made out to providers, should review their activity and seek appropriate legal advice.

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’).