Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

Division 9 - Registers relating to financial services  

Subdivision B - Notice requirements relating to the Register of Relevant Providers  

SECTION 922HC   REQUIREMENT TO RETAIN INFORMATION  

922HC(1)  
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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