A member of the Securities Commission has been appointed by the Government to be the first Commissioner for Financial Advisers.

For a year, this position would be managed by Annabel Cotton instead of the normal five year due to other commitments.  
 
It has been specified by Commerce Minister Simon Power that to commence developing a code that sets how Financial Advisers should behave would be one of her tasks.

According to Mr. Power minimum standards of competence, knowledge and skills, ethical behavior, client care, and professional training requirements would be set out by the code.

Ms. Cotton, who is a director of Carmel Fisher's Kingfish, Barramundi, and Marlin Global investment concerns, and is on the board of Genesis Power, is a qualified investment analyst and accountant apart from being a member of the Securities Commission for seven years.

(via TopNews New Zealand. Contributed by Girish Kumar Guha)