FMA fast-tracks personalised robo-advice with exemption

Tue, 17 Oct 2017

By Paul McBeth Oct. 18 (BusinessDesk) - The Financial Markets Authority will let Kiwis access personalised automated financial advice, known as robo-advice, with an exemption kicking in before a legislative overhaul of the sector. The market watchdog sought feedback on the proposal in June and today decided to expand the range of products robo-advice can cover to include mortgages and personal insurance, it said in a statement. Providers wanting to offer the service will need FMA approval on the good character of directors and officers a...

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