In this task, you are required to demonstrate your understanding of the background to the current regulatory environment for financial services in New Zealand.

In approximately 500 words, describe the background that has led to the New Zealand regulatory environment. In your answer, you will need to include a reference to the relevance of at least:

one local agency

one international agency

one local event

one international event.

The current regulatory environment includes the following legislation:

Financial Advisers Act 2008*

Financial Advisers (Disclosure) Regulations 2010

Financial Markets Authority Act 2011

Financial Markets Conduct Act 2013

Financial Service Providers (Registration and Dispute Resolution) Act 2008

Anti-Money Laundering and Countering Financing of Terrorism Act 2009