If you give regulated financial advice to someone, you must follow the code of conduct. This means you have to behave in an ethical way and take care of your clients. You can find more information about the code of conduct and the laws that apply to it on the New Zealand legislation website, which includes a link to the Financial Services Legislation Amendment Act 2019.

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This page was last updated on 15 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS465817.

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431L: Duty to exercise care, diligence, and skill, or

"Be careful and skilled when giving financial advice, like a prudent person would."

431N: Duty relating to offer that contravenes Act or regulations, or

"Don't recommend financial products that break the law"

Part 6Licensing and other regulation of market services
Additional regulation of financial advice and financial advice services: Duties on persons giving regulated financial advice

431MDuty to comply with code of conduct

A person who gives regulated financial advice to a retail client must comply with the standards of ethical behaviour, conduct, and client care required by the code of conduct.

Compare

2008 No 91 s 37

Notes

Section 431M: inserted, on 15 March 2021, by section 29 of the Financial Services Legislation Amendment Act 2019 (2019 No 8).