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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES    View history reference

Division 9 - Registers relating to financial services    View history reference

Subdivision C - Register of Relevant Providers    View history reference

SECTION 922Q  REGISTER OF RELEVANT PROVIDERS  

 View history reference

Register to include details of relevant providers

922Q(1)  

ASIC must enter details on a Register of Relevant Providers in respect of each person who is or was a relevant provider.

Contents of Register

922Q(2)  

The details that must be entered on the Register include the following:


(a) the relevant provider's name;


(b) the relevant provider's principal place of business;


(c) the name of each financial services licensee on whose behalf the relevant provider is or was authorised to provide personal advice to retail clients in relation to relevant financial products;


(d) if applicable, each person who has control of the licensee;


(e) the relevant provider's date and place of birth;


(f) the licence number given under subsection 913C(1) to the relevant provider and each licensee referred to in paragraph (c);


(g) if applicable, the number given under section 922R;


(h) if the relevant provider is a relevant provider as a result of section 916B:


(i) the name of the authorised representative who authorised the relevant provider under that section; and

(ii) the number allocated to the authorised representative by ASIC;


(i) the recent advising history of the relevant provider;


(j) if the relevant provider is a provisional relevant provider:


(i) the fact that the relevant provider is a provisional relevant provider; and

(ii) the day the relevant provider began undertaking work and training in accordance with subsection 921B(4); and

(iii) a statement that the relevant provider is required to be supervised in accordance with Subdivision C of Division 8A;


(k) except in relation to provisional relevant providers - the year in which the relevant provider first provided personal advice to retail clients in relation to relevant financial products in accordance with the law (including the law of a State or Territory);


(l) whether the person is currently, or has ceased to be, a relevant provider;


(m) if a financial services licensee has lodged a notice under section 922HB in relation to the relevant provider-that the relevant provider did not comply with section 921D during the licensee's CPD year;


(n) if the relevant provider has been disqualified from managing corporations - information contained on the register established under section 1274AA;


(o) if the relevant provider has been banned or disqualified under section 80 or 86 of the National Consumer Credit Protection Act 2009 - information about that banning or disqualification;


(p) if the relevant provider has been banned, disqualified or suspended under Division 8 of Part 7.6, or under section 130F of the Superannuation Industry (Supervision) Act 1993 - information about that banning, disqualification or suspension;


(q) if the relevant provider has given an undertaking under either or both section 93AA of the ASIC Act and section 322 of the National Consumer Credit Protection Act 2009 - information about that undertaking;


(r) if a monitoring body for a compliance scheme determines under subsection 921L(1) that the relevant provider who is covered by the scheme has failed to comply with the Code of Ethics:


(i) details of the failure to comply; and

(ii) details of any sanction imposed on the relevant provider in relation to the failure to comply;


(s) if applicable, information about both of the following:


(i) the relevant financial products in relation to which the relevant provider is authorised to provide personal advice to retail clients;

(ii) whether the relevant provider is authorised to provide class of product advice in relation to some or all of those products;


(t) if applicable, the ABN of any of the following:


(i) the relevant provider;

(ii) each licensee referred to in paragraph (c);

(iii) if applicable, the authorised representative referred to in paragraph (h);


(u) information about both of the following:


(i) the educational qualifications of, and any training courses completed by, the relevant provider (but not courses completed for the purposes of subsection 921B(5)), to the extent that the qualifications and training courses are relevant to the provision of financial services;

(ii) the relevant provider's membership (if any) of a professional association if an approval is in force under section 921K in relation to a compliance scheme monitored and enforced by the association;


(v) the name of the compliance scheme that is to cover the relevant provider;


(w) any other information that ASIC believes should be included in the Register that relates to the provision of financial services by the relevant provider.

Note 1: Not all of the Register's contents are publicly available. However, section 1274A provides that ASIC may permit a person to search certain registers kept by ASIC for prescribed information.

Note 2: Information in paragraph (2)(s) may not be known in relation to a provisional relevant provider (see subsection 922F(4)).


 



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