INFINZ Begins Work on Savings Working Group
Four recent submissions made by INFINZ have been posted to the INFINZ website. They include the applicability of unit standards under the Code of Professional Conduct for Approved Financial Advisers to certified members of INFINZ, another on issues arising from the Financial Service Providers (Pre-implementation Adjustments) Bill with regard to the wholesale carve out and the application of adviser legislation, and two parts of a submission on the MED discussion paper on the Review of the Securities Laws. You are invited to read these submissions. The two older submissions have been overtaken by events with the wholesale carve out now well established in the Financial Advisers Act 2008 but it does show the issues raised by INFINZ with the relevant regulators and legislators.
INFINZ is now addressing the Financial Markets (Regulators and Kiwisaver) Bill which is the bill intended to establish and empower the Financial Markets Authority and is also responding to an invitation to raise issues with the Savings Working Group pertaining to savings within New Zealand.
The FMA establishment is being considered by a working group made up of INFINZ members who have volunteered their services and is being led by Paul Hocking, INFINZ Executive Director, and Bruce McKay, Chairman of the INFINZ Advocacy Committee. The Bill requires submissions by 10 November.
In respect of the Savings Working Group Paul Hocking and Bruce McKay have asked the INFINZ Board for input to the broad policy planks that INFINZ should develop for its submission. Mr Hocking and Mr Mckay invite INFINZ members to submit to them their thoughts on the savings policies that they believe could form part of the work by INFINZ in this area. Send your thoughts to exec@infinz.com.
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