New Zealand's RDR approved

The country's Commission for Financial Advisers has signed off on the Professional Conduct for Authorised Financial Advisers and sent it for final approval to commerce minister Simon Power. Areas covered by the code include qualifications, the use of the term ‘independent' and the relationship between advisers and clients. It also provides guidelines on record retention and the complaints process, as well as the professional standards expected of individuals within the industry. David Mayhew, spokesman for the commission, says: "The code will be the tool for imprinting professional...