Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698838345366.pdf (New Zealand)
2021/30 Financial Advisers (Personalised Digital Advice) Exemption Amendment Notice 2021 Pursuant to sections 148 and 148A of the Financial Advisers Act 2008, the Financial Markets Authority, being satisfied of the matters set out in section 148(2) of that Act, gives the following notice.

1 2 3 4 1 2 3 4 Title Commencement Principal notice Schedule 1 amended Contents Notice Page 1 1 1 1 Title This notice is the Financial Advisers (Personalised Digital Advice) Exemption Amendment Notice 2021.
Commencement This notice comes into force on 1 March 2021.

Principal notice This notice amends the Financial Advisers (Personalised Digital Advice) Exemption Notice 2018 (the principal notice).

Schedule 1 amended In Schedule 1, insert in its appropriate alphabetical order: Bettersaver Limited 1 Statement of reasons Financial Advisers (Personalised Digital Advice) Exemption Amendment Notice 2021 2021/30 Dated at Wellington this 24th day of February 2021.
Liam Mason, Director of Regulation, Financial Markets Authority.

Statement of reasons This notice comes into force on 1 March 2021.

It amends the Financial Advisers (Per- sonalised Digital Advice) Exemption Notice 2018 (the principal notice).

The principal notice permits entities listed in Schedule 1 of the notice to provide per- sonalised services to retail clients where those services are provided through a digital advice facility.
This notice amends the principal notice to add Bettersaver Limited (Bettersaver) to that list of entities.
The Financial Markets Authority (the FMA), after satisfying itself as to the matters set out in section 148(2)(a) of the Financial Advisers Act 2008, considers it appropri- ate to amend the principal notice because— • • extending the exemptions to Bettersaver is consistent with the objectives of promoting the sound and efficient delivery of financial adviser services and encouraging public confidence in the professionalism and integrity of the pro- viders.
In order to rely on the exemptions, a provider must be listed in Schedule 1 of the principal notice.

The FMA is satisfied that Bettersaver has the capabil- ity and competency to provide personalised services to retail clients through a digital advice facility, and that its directors and senior managers are of good character.
Bettersaver must meet the exemption conditions specified in the principal notice, which seek to ensure that providers take an appropriate degree of care in providing the service and that consumer protection safeguards are in place; and in these circumstances, the FMA is satisfied that the costs of compliance by Bettersaver with the requirement for personalised services to retail clients to be provided by one of the specified types of human adviser are unreasonable and are not justified by the benefit of compliance.
Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 26 February 2021.

This notice is administered by the Financial Markets Authority.

Wellington, New Zealand: Published under the authority of the New Zealand Government—2021 2