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.