The consultation asks how fintech could help reduce financial advice costs and how to make advice more accessible, including through robo-advisers.
March 29, 2022Anyone who gives regulated financial advice to retail clients must either hold or operate under a Financial Advice Provider licence granted by the FMA.
March 16, 2021New Zealand's FMA has granted an exemption allowing Nikko to enter the robo-advice market; new digital platform to be launched later this year.
August 29, 2018Robo-advice platforms should explain how their underlying algorithms operate, ensure regular testing to ensure they remain fit for purpose.
March 29, 2018Applicants will need to demonstrate capability and competency to provide robo-advice while ensuring consumer protection.
February 26, 2018Providers still need to be pre-approved to offer financial advice; new rules formalising licensing of robo-advice per se expected in 2019.
October 19, 2017Proposed rules cover governance, suitability requirements and complex product sales.
May 8, 2017Guidance covers licensing through to actual advice provision.
August 31, 2016Market has raised concerns over robo-adviser’s performance.
August 31, 2016