Maintain Financial Adviser registration + standards (s 921B)
Relevant providers must be on the Financial Advisers Register and meet education + CPD + Code of Ethics.
Who must comply
Financial advisers providing personal advice on relevant products.
What triggers it
Providing personal financial product advice to retail clients.
When due
Continuous; annual CPD; renewals.
Evidence required
Registration on the FAR, CPD log, training records, ethics exam pass, AFSL nomination.
Max penalty
Removal from the FAR; civil penalty exposure for principals supervising unregistered ARs
Summary
Section 921B requires individuals providing personal financial product advice to retail clients on relevant products to be a 'relevant provider' on the ASIC Financial Advisers Register. Education standards, ethics exam, supervised year (new entrants), 40+ hours CPD annually, and the Financial Planners and Advisers Code of Ethics 2019 all apply.
Enforced by
Source legislation
Topics
Source: https://asic.gov.au/for-finance-professionals/afs-licensees/financial-advisers/financial-advisers-register/. Rules Mate is not a law firm. Always verify against the live regulator source before acting.