The Australian Securities & Investments Commission (ASIC) and New Zealand’s Financial Markets Authority (FMA) have confirmed that mutual recognition arrangements for Australian and New Zealand financial advisers take effect from the end of this week.
This will enable individual financial advisers with relevant qualifications to provide services on either side of the Tasman. This has been made possible by both regulators granting exemptions to certain training and educational requirements for financial advisers coming over from the partner country.
Details of the FMA’s exemption for Australian advisers to operate in New Zealand can be found here. Details of the ASIC recognition being given to New Zealand authorised financial advisers in Australia can be found here.