Heading: Dr Pushpa Bhardwaj Wood Appointed Member of Financial Advice Code Committee

Dr. Pushpa Bhardwaj Wood, a well-known figure in the financial community, has been appointed as a Member of the Financial Advice Code Committee, a prestigious body responsible for setting and advocating good ethical conduct and industry standards. This appointment, approved by the Cabinet, was announced by Commerce and Consumer Affairs Minister Andrew Bayly, who highlighted the significance of having qualified and experienced individuals in such roles.

Mr. Bayly emphasized the importance of protecting consumers and promoting a thriving advisory industry, stating that Dr. Wood’s appointment will strengthen the financial advice sector and enhance consumer protection. He also mentioned ongoing reforms aimed at improving the conditions and services within the sector, including affordability regulations and the efficiency of the Financial Disputes Resolution System.

The Financial Advice Code Committee plays a crucial role in ensuring ethical conduct and adherence to industry standards, with a focus on developing and maintaining the Financial Advice Code. This code outlines the professional obligations and conduct expected of financial advisers, in line with the Financial Markets Conduct Act 2013.

Dr. Wood, the Director of the Massey Fin-Ed Centre in Wellington, has been recognized for her efforts to promote financial literacy and interfaith relations. She has received several awards, including the Special Dr. Robert Lateef Khan Commemoration Award and an International Indian Language Award for her contributions to the promotion of Indian languages overseas.

In a recent interview, Dr. Wood highlighted the changing trends in banking and money-related behaviors, emphasizing the importance of financial knowledge and prudent money management. She stressed the need for parents to teach their children about money from an early age, setting a good example for healthy money behavior.

Overall, Dr. Wood’s appointment to the Financial Advice Code Committee signifies a positive step towards enhancing consumer protection and promoting ethical conduct within the financial advisory sector.