We have published our decision into FMA’s complaint against an authorised financial adviser. The FADC has made a decision on the penalties to be applied and has made a permanent order for name suppression.
Copies of the Decision, the Supervision Plan and Appendix to the Supervision Plan can be found on the Decisions page.
We have released our decision into FMA’s complaint against an authorised financial adviser. The FADC has granted name suppression for the time being, until a decision has been made on disposition.
Commerce and Consumer Affairs Minister Paul Goldsmith has reappointed two members of the Financial Advisers Disciplinary Committee. The Honourable Sir Bruce Robertson has been reappointed as Chair and a member of the Committee for a term of five years. Simon Hassan will also continue his role as a member of the committee for a term of five years.
Both terms commenced on 12 September 2016.
See Minister Goldsmith announcement.
The hearing between FMA v David RG Ross will be held at the Wellington District Court, Court Room 6 on the 4th floor on 10 February 2014. For more details on upcoming hearings click here.
The Procedure Rules for Authorised Financial Advisers under the Financial Advisers Act 2008 have undergone amendments. The new rules will assist the committee in providing a just and speedy determination in all our proceedings. Click here for a full list of the Rules.
The amendments are:
- A new Rule 9 clarifies that a panel of the Committee members can consider a complaint against any AFA. Decisions of the panel are deemed to be decisions of the Committee.
- Rules 23 to 25 are consolidated to allow the chairperson the discretion to allocate the type of hearing for each complaint and the discretion to amend the type of hearing if required.
- Rule 28 has been amended to clarify the ability of the Committee to request submissions from the parties on penalty prior to determination of a referral.
- Rule 32 clarification that the Committee has the discretion to direct that the parties and victims’ names are suppressed.