Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 7.7.10AAA

                For subsection 946B (9) of the Act, a record of advice must set out the following:

                (a)    the investment advice given to a client by the providing entity;

               (b)    brief particulars of the recommendations made to the client and the basis on which the recommendations are made;

                (c)    if the providing entity is a financial services licensee -- the information that, if a Statement of Advice were to be given, would be required in that Statement by paragraphs 947B (2) (d) and (e) of the Act;

               (d)    if the providing entity is an authorised representative -- the information that, if a Statement of Advice were to be given, would be required in that Statement by paragraphs 947C (2) (e) and (f) of the Act.

Note    A client is entitled to ask the providing entity for a record of advice under subsections 942B (8) and 942C (8) of the Act.