Financial product sales and advice still not up to scratch: FMA

Mon, 16 Nov 2015

By Paul McBeth Nov. 17 (BusinessDesk) - As few as three in a thousand people joining or switching KiwiSaver schemes are getting personalised advice when they do so, the Financial Markets Authority says in a new monitoring report that says finance sector sales and advice practices are still not up to scratch under a new regulatory regime. The financial markets watchdog found inconsistencies in the quality and maturity of systems and the industry's practices in its sales and advice monitoring report, spanning the year to June. The FMA found...

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