Regulatory Alerts2009-11-03
Added · Updated
2009 Regulations for the Establishment and Operation of Financial Advisory and Investment Advice Companies
The Registrar of Companies issued the 2009 Regulations to amend the 1999 Regulations for Financial Advisory and Investment Advice Companies. The amendments introduce Regulation 5A, requiring licensed companies to execute written agreements and provide written disclosures of fees and material information before advising clients. Regulation 5B mandates the maintenance and seven-year retention of records detailing client identity, service nature, fees, and provision dates. The 1999 Regulations are repealed upon the entry into force of these new provisions.
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