The Financial Services
Legislation Amendment Bill (
FSLAB) is expected to pass next week with most provisions
to come into force in the second quarter of 2020, but with a longer
transition for the qualification changes to second quarter
2022.
The Bill includes some late changes introduced through
Supplementary Order Paper (SOP), the most important of
which relate to financial advisers who represent more than one
financial advice provider and to the new competency demonstration
options.
Commerce Minister Kris Faafoi has also released a Cabinet paper
providing some guidance on the proposed disclosure regulations in
terms of objectives, timing and content.
SOP – technical changes
