The FMA is securing the boundary to the financial advice regime

Although seeing law enforcement in action is not always pleasant, the fact that the Financial Markets Authority (FMA) is policing the boundary of the financial advice regime is something that everyone who has put in the effort to comply can appreciate.

Sometimes I hear of complaints that enforcement is not strong enough - often this relates to concerns about an advert not being quite right, or advice being incomplete, or, frankly, would simply be done differently by the person I am talking with: often quite minor issues.

Claiming to be a financial adviser when you are not, and even going so far as to forge a document in order to convince someone that you are a financial adviser when you aren't - that's a big breach. It is an area that the FMA told us they would pursue as a priority, and it is good to see that they are doing so.