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
4A Lodgment of documents and undertaking of responsibilities for representative
4B Provisional representative
5 Time for documents to be lodged
6 Fees
7 Manner of application for financial adviser’s licence
8 Lapsing of financial adviser’s licence
8A Cessation of status of appointed representative
9 Variation of financial adviser’s licence
10 Change in particulars and additional financial advisory service of representative
11 (Deleted)
12 Cessation of financial advisory service by financial adviser
12A Lodgment of particulars of cessation
13 Application for appointment of chief executive officer or director
14 Duties of chief executive officer and director
14A Financial advisers and representatives, etc., to be fit and proper persons
Part III FINANCIAL REQUIREMENTS FOR LICENSED FINANCIAL ADVISERS
15 Minimum financial requirements
16 Continuing financial requirements
17 Professional indemnity insurance
Part IV CONDUCT OF BUSINESS
18 Unsecured advances, unsecured loans and unsecured credit facilities
18A Non-application of section 27 of Act
18B Product due diligence
19 Prohibition on receipt of client’s money or property under certain circumstances
20 Insurance broking premium accounts
20A Register of interests in securities
20B Place at which register is kept
20C Particulars of financial journalists
21 Use of term "independent"
22 (Deleted)
Part V ACCOUNTS AND AUDIT
23 Preparation and lodgment of accounts
24 (Deleted)
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 (Deleted)
31 Exemption for introducing activities
32 (Deleted)
32A Exemption for Registered Fund Management Company
32B Exemption for advising institutional investor, related corporation, etc.
32C Exemption for foreign research houses
33 Exemption from section 25 of Act for advising accredited investor or expert investor
34 Exemption from section 27 of Act in certain circumstances
35 Exemption from section 36 of Act
36 Exemption for advising overseas investors
37 Reporting requirements for exempt financial advisers
38 (Deleted)
Part VII MISCELLANEOUS
39 (Deleted)
40 (Deleted)
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
FIRST SCHEDULE Repealed
SECOND SCHEDULE Fees
THIRD SCHEDULE
Legislative History