Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 (7 of 2017)

Schedule 1   Amendments

Part 1   Amendments

Corporations Act 2001

10   After paragraph 920A(1)(da)

Insert:

(db) the person has not complied with any one or more of his or her obligations under section 921F (requirements relating to provisional relevant providers); or

(dc) both of the following apply:

(i) a supervisor referred to in section 921F has not complied with any one or more of his or her obligations under that section in relation to a provisional relevant provider;

(ii) both the supervisor and the provisional relevant provider are authorised to provide personal advice to retail clients, on behalf of the person, in relation to relevant financial products; or

(dd) both of the following apply:

(i) a provisional relevant provider has not complied with his or her obligations under subsection 921F(7);

(ii) the provisional relevant provider is authorised to provide personal advice to retail clients, on behalf of the person, in relation to relevant financial products; or

(de) ASIC has reason to believe that the person was authorised, in contravention of subsection 921C(2), (3) or (4), to provide personal advice to retail clients in relation to relevant financial products; or