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Code of Professional Conduct for Authorised Financial Advisers

Page last updated: 15 March 2021

REPEALED 15 March 2021

There have been three versions of the Code of Professional Conduct for AFAs:

  1. The original code was approved by the Minister of Commerce under section 92 of the Financial Advisers Act 2008 (now repealed) on 21 September 2010 and came into force on 1 December 2010.
  2. An updated version of the Code was approved by the Minister of Commerce, and came into force on 1 May 2014.
  3. The Code was further revised in 2016, and this version was approved by the Minister of Commerce and Consumer Affairs on 23 August 2016 and came into force on 1 December 2016.

The 2016 version was repealed on 15 March 2021, and replaced by the Code of Professional Conduct for Financial Advice Services, as part of the implementation of the new financial advice regime. 

Get more information about the Code of Professional Conduct for Financial Advice Services.

The Code of Professional Conduct for AFAs applies to AFA conduct that occurred prior to 15 March 2021. 

The Financial Advisers Disciplinary Committee (FADC) is responsible for conducting disciplinary proceedings arising from complaints about AFAs, relating to breaches of the Code of Professional Conduct for AFAs, referred to it by the FMA. More information about FADC, the hearing process and the procedural rules can be found at their website. The FMA and the FADC can deal with complaints about AFAs relating to breaches of the Code of Professional Conduct for AFAs that occurred prior to 15 March 2021 even if a complaint is made after that date.