Regulator, shareholder lobby welcome customer obligation for financial advice

Wed, 13 Jul 2016

By Paul McBeth July 13 (BusinessDesk) - The Financial Markets Authority and New Zealand Shareholders' Association are welcoming proposed changes that will mean all financial advice will have to put the clients' interests first. Commerce Minister Paul Goldsmith today announced proposals to streamline the various adviser designations and impose a blanket obligation for all advice to put the customer first, which he says will fix an "unsatisfactory" regime where only some advisers are obliged to disclose potential conflicts of interest and...

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