Financial Markets Conduct Regulations 2014

229B Application and interpretation

(1)

Regulations 229C to 229J apply to a person who gives regulated financial advice to retail clients.

(2)

In regulations 229C to 229J and Schedule 21A,—

advice means regulated financial advice given, or to be given, to a retail client

client, in relation to a financial advice provider, includes a person who may receive advice from the provider or advice given on behalf of the provider

material change, in relation to a change to information, has the meaning set out in subclause (3)

publicly available has the meaning set out in subclause (4).

(3)

A change to information is a material change under regulations 229C to 229J and Schedule 21A if a reasonable client would expect the change to, or to be likely to, materially influence a decision about whether to seek or obtain advice from a particular person or provider or to act on advice that they have been given.

(4)

Information is publicly available under regulations 229C to 229J and Schedule 21A if the information is available on an Internet site that is maintained by or on behalf of a financial advice provider in a way that ensures—

(a)

that the information, or a link to the information, is prominently displayed either on the home page or on an appropriate section of the site; and

(b)

that the home page prominently displays a link to the appropriate section of the site (if the information is displayed on that section of the site); and

(c)

that members of the public can easily access the information at all reasonable times.

Regulation 229B: inserted, on 15 March 2021, by regulation 12 of the Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendment Regulations 2020 (LI 2020/132).