The New Zealand Financial Markets Authority (FMA) has announced that it has decided to grant an exemption to enable personalised robo-advice and is publishing the responses to its earlier consultation. As we reported back in June, the FMA started consultation on whether it should use its exemption powers to enable personalised robo-advice (also known as online or…
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The FMA announced that it is seeking feedback on its proposals to allow entities to provide personalised financial advice generated by a computer programme or algorithm (robo-advice). This would be a temporary measure before new legislation is passed by Parliament. Robo-advice has been increasingly adopted around the world and especially in the Far East, and…
Read moreAustralia financial regulator ASIC has released guidance on regulating digital advice to retail investors and traders. Digital advice (also known as ‘robo-advice’ or ‘automated advice’) is the provision of automated financial product advice using algorithms and technology and without the direct involvement of a human adviser. It can comprise general or personal advice, and range from advice that is…
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