#Financial Markets Authority in #New Zealand to grant exemption for personalised robo-advice #investorseurope  | Robo-Advisors and Robo-Advisories | Scoop.it
The Financial Markets Authority (FMA) in New Zealand has decided to grant an exemption to enable personalised robo-advice. Robo-advisors provide financial advice or portfolio management online, based on mathematical rules or algorithms, with moderate to minimal human intervention. Current legislation requires personalised advice to be delivered by a natural person, thereby restricting the ability to provide personalised robo-advice. The current law, passed in 2008, did not contemplate robo-advice. In June, the FMA started consultation on whether it should use its exemption powers to enable personalised robo-advice (also . . .