Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.8
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OTHER PROVISIONS RELATING TO CONDUCT ETC CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE
Division 2
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Dealing with clients
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money
Subdivision AA
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Client money reporting rules
REGULATION 7.8.05Q
PUBLICATION OF DETAILS OF CLIENT MONEY REPORTING INFRINGEMENT NOTICE
7.8.05Q(1)
If ASIC gives a client money reporting infringement notice to a recipient, ASIC may, at the end of the client money reporting infringement notice period, publish details of the infringement notice.
7.8.05Q(2)
If ASIC decides to publish details of the client money reporting infringement notice, ASIC must publish the details in accordance with either or both of subregulations (3) and (4).
7.8.05Q(3)
ASIC may publish details of a client money reporting infringement notice by publishing in the Gazette:
(a) a copy of the infringement notice; and
(b) a statement as to whether the recipient has complied with the infringement notice; and
(c) if the recipient has complied with the infringement notice - a statement that:
(d) if the recipient has not complied with the infringement notice - a statement that:
7.8.05Q(4)
ASIC may publish details of a client money reporting infringement notice by issuing a written or oral statement that includes:
(a) an accurate summary of the details of the infringement notice, including:
(b) a statement as to whether the recipient has complied with the infringement notice; and
(c) if the recipient has complied with the infringement notice - a statement that:
(d) if the recipient has not complied with the infringement notice - a statement that:
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
If ASIC gives a client money reporting infringement notice to a recipient, ASIC may, at the end of the client money reporting infringement notice period, publish details of the infringement notice.
7.8.05Q(2)
If ASIC decides to publish details of the client money reporting infringement notice, ASIC must publish the details in accordance with either or both of subregulations (3) and (4).
7.8.05Q(3)
ASIC may publish details of a client money reporting infringement notice by publishing in the Gazette:
(a) a copy of the infringement notice; and
(b) a statement as to whether the recipient has complied with the infringement notice; and
(c) if the recipient has complied with the infringement notice - a statement that:
(i) compliance is not an admission of guilt or liability; and
(ii) the recipient is not regarded as having contravened a client money reporting rule; and
(d) if the recipient has not complied with the infringement notice - a statement that:
(i) the giving of an infringement notice to a recipient is only an allegation that the recipient has contravened a client money reporting rule; and
(ii) the recipient is not regarded as having contravened the client money reporting rule or rules specified in the infringement notice.
7.8.05Q(4)
ASIC may publish details of a client money reporting infringement notice by issuing a written or oral statement that includes:
(a) an accurate summary of the details of the infringement notice, including:
(i) the name of the recipient; and
(ii) the amount of the penalty specified in the infringement notice (if any); and
(iii) the remedial measures specified in the infringement notice (if any); and
(iv) the sanctions specified in the infringement notice (if any); and
(v) the terms of an undertaking specified in the infringement notice (if any); and
(vi) the conduct specified in the infringement notice as being the conduct that made up the alleged contravention; and
(b) a statement as to whether the recipient has complied with the infringement notice; and
(c) if the recipient has complied with the infringement notice - a statement that:
(i) compliance is not an admission of guilt or liability; and
(ii) the recipient is not regarded as having contravened a client money reporting rule; and
(d) if the recipient has not complied with the infringement notice - a statement that:
(i) the giving of an infringement notice to a recipient is only an allegation that the recipient has contravened a client money reporting rule; and
(ii) the recipient is not regarded as having contravened the client money reporting rule or rules specified in the infringement notice.
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