Financial Advisers Act 2001 · 2020 Revised Edition · Part 2 · Financial Advisers and Representatives
13. False statements in relation to application for grant or variation of financial adviser’s licence
Feedback & supportLast amended by an amending law of 2009.
Any person who, in connection with an application for the grant or variation of a financial adviser’s licence —
financial adviser
“financial adviser” means a person who carries on a business of providing any financial advisory service, but does not include any person specified in the First Schedule;
without reasonable excuse, makes any statement which is false or misleading in a material particular; or
material
“material” includes any information, book, document or other record in any form whatsoever, and any container or article relating thereto;
without reasonable excuse, omits to state any matter or thing without which the application is misleading in a material respect,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.[17