The Securities Commission has released a consultation paper and invited submissions on proposed disclosure obligations to be included in standard conditions for businesses granted Qualifying Financial Entity (QFE) status under the Financial Advisers Act. The paper supplements an earlier consultation document on standard conditions for QFEs published by the Commission in September.

The Financial Advisers Act requires disclosure so that retail customers can make informed decisions about whether to use an adviser or follow the advice received. Disclosure requirements for QFEs will be set out in the Act, Regulations and terms and conditions. The consultation paper sets out the proposed conditions and includes some examples of disclosure information.

Submissions close on 12 November 2010.