More than 50 submissions have already been made on the draft code of conduct for financial advisers.

Consultation closes at the end of this week and it is hoped that the code will be signed off by the Commerce Minister early in the new year.

The new financial advice regime will take effect nine months after that.

Angus Dale-Jones, chairman of the working group developing the code, said it had been going well.

The group had met with a range of professional groups and others with an interest in the code “and had valuable conversations with them. Our online chat session was also really useful for hearing different views and answering questions on the draft code," he said.

"We’ve received over 50 submissions so far - and our thanks to everyone who has taken the time to share their views.”

He said so far there had been general support for the draft, and good suggestions on how to clarify or improve particular standards.

“It's too early to start identifying what changes could be made, but we're starting to analyse feedback and looking at where refinements and improvements could be made, based on the submissions and the other input we're receiving.”

 

 - Good Returns