New Zealand Advisor Compliance

ANZIIF PATHWAY TO COMPLIANCE FOR NEW ZEALAND INSURANCE BROKERS

ANZIIF is a Registered Training Organisation (RTO) and adheres to the legislative standards required of RTOs and delivers competency-based training in accordance with the Australian Qualifications Framework (AQF).   AQF is governed by the Australian Skills Quality Authority (ASQA) who independently assess ANZIIF’s ability to operate as a credible training provider.

ANZIIF training outcomes are therefore measurable, objective and independently assessed as per the requirements of being a licensed RTO.

The new Financial Advice Code, part 2, describes the standards of competence, knowledge and skill (including any continuing professional development requirements), for giving regulated financial advice.

The code, under standard 6, considers general competence, knowledge and skill, while standard 8 refers to the strand of competence, knowledge and skill. In both cases the code expresses those standards as being equivalent to the qualification outcomes of the NZ Certificate in Financial Services (NZCFS Level 5) version 2 approved by the New Zealand Qualifications Authority (NZQA).   

Code standards 6 to 8 also describe the ways of demonstrating the standard, including by reference to an alternative qualification or experience, and any person seeking to do so needs to consider that in an objective, measurable and independently verifiable manner.

Following the approval and release of the new Code, the FMA is progressing towards finalisation of its approach and arrangements in respect of recognising alternative qualifications in the new regime. Further information on this will be available in due course.

As advised by the FMA, they are not an education provider, and are not involved in providing training to achieve any qualification, the process to award any qualifications or the maintenance of any qualification.

You may wish to contact The Skills Organisation for further advice. The Skills Organisation can be contacted on 09 525 2590 or at support@skills.org.nz



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