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Australian-regulated financial advisers will be exempt from the new financial services regulatory regime until 30 June 2013 so that they can continue to service their New Zealand-based clients while long-term arrangements for mutual “trans-Tasman” recognition are developed
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
The Australian Securities and Investments Commission and the New Zealand Financial Markets Authority have implemented a mutual recognition scheme for financial advisers
