Financial Advisers Regulations
Table of Contents
Part I PRELIMINARY
1 Citation
2 Definitions
Part II CONTROL OF PROVISION OF FINANCIAL ADVISORY SERVICES
3 Application of section 6 of Act
4 Forms
5 Time for documents to be lodged
6 Fees
7 Manner of application for licence
8 Lapsing of licence
9 Variation of licence
10 Change in particulars of licensed representative
11 Change of financial adviser for which representative acts
12 Cessation of financial advisory service by financial adviser or representative
13 Application for appointment of chief executive officer or director
14 Duties of chief executive officer and director
Part III FINANCIAL REQUIREMENTS
15 Minimum financial requirements for financial advisers
16 Continuing financial requirements
17 Professional indemnity insurance
Part IV CONDUCT OF BUSINESS
18 Unsecured advances, unsecured loans and unsecured credit facilities
19 Prohibition on receipt of client’s money or property under certain circumstances
20 Insurance broking premium accounts
21 Use of term "independent"
22 Change of place at which register of interests in securities is kept
Part V ACCOUNTS AND AUDIT
23 Preparation and lodgment of accounts
24 Form of auditor’s report
25 Books to be kept by licensed financial adviser
26 Retention period of books
Part VI EXEMPTIONS
27 Exemption from requirement to hold financial adviser’s licence for advising certain persons
27A Exemption of banks and merchant banks
28 Exemption for giving advice or analysis on bonds
29 Exemption for Service Companies
30 Exemption for exchange holding company
31 Exemption for introducing activities
32 Securities exchanges, futures exchanges or recognised trading system providers
33 Exemption from section 25 of Act for advising certain persons
34 Exemption from section 27 of Act in certain circumstances
35 Exemption from section 36 of Act
36 (Deleted)
37 Reporting requirements for exempt financial advisers
38 Register to be maintained by certain exempt financial advisers
Part VII MISCELLANEOUS
39 Take-over of licensees
40 Registers to be maintained by Authority
41 Compoundable offences
42 Acceptance of composition of offence
43 Opportunity to be heard
44 Exemption for corporate and partnership agencies
45 Time to comply with certain requirements
Legislative History