Corporations Act 2001
CHAPTER 7
-
FINANCIAL SERVICES AND MARKETS
PART 7.7A
-
BEST INTERESTS OBLIGATIONS AND REMUNERATION
Division 2
-
Best interests obligations
Subdivision B
-
Provider must act in the best interests of the client
SECTION 961D
MEANING OF REASONABLE INVESTIGATION
961D(1)
A reasonable investigation into the financial products that might achieve those of the objectives and meet those of the needs of the client that would reasonably be considered relevant to advice on the subject matter sought by the client does not require an investigation into every financial product available.
961D(2)
However, if the client requests the provider to consider a specified financial product, a reasonable investigation into the financial products that might achieve those of the objectives and meet those of the needs of the client that would reasonably be considered relevant to advice on the subject matter sought by the client includes an investigation into that financial product.
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteA reasonable investigation into the financial products that might achieve those of the objectives and meet those of the needs of the client that would reasonably be considered relevant to advice on the subject matter sought by the client does not require an investigation into every financial product available.
961D(2)
However, if the client requests the provider to consider a specified financial product, a reasonable investigation into the financial products that might achieve those of the objectives and meet those of the needs of the client that would reasonably be considered relevant to advice on the subject matter sought by the client includes an investigation into that financial product.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.