Corporations Act 2001
[ CCH Note: Div 9 heading will be amended by No 69 of 2020, s 3, Sch 1, by substituting " Records " for " Registers " (effective 22 June 2022 or a day or days to be fixed by Proclamation).]
[ CCH Note: Subdiv B heading will be amended by No 69 of 2020, s 3, Sch 1, by substituting " relevant providers " for " the Register of Relevant Providers " (effective 22 June 2022 or a day or days to be fixed by Proclamation).]
A financial services licensee must retain evidence of the continuing professional development undertaken during the licensee ' s CPD year by:
(a) if the licensee is a relevant provider - the licensee; and
(b) if a relevant provider is authorised to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products - the relevant provider. 922HC(2)
The evidence must be retained for 12 months after the end of the CPD year. Offence 922HC(3)
A person commits an offence if:
(a) the person is required to retain evidence under this section; and
(b) the person fails to retain the evidence in accordance with this section.
Penalty: 50 penalty units.
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