Financial Advisers Act 2001 · 2020 Revised Edition · Part 2 · Financial Advisers and Representatives
18. Holding out as financial adviser
Feedback & supportA person must not hold out to be a financial adviser unless the person is a licensed financial adviser, an exempt financial adviser or a person specified in the First Schedule.
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;
Any person who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $75,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $7,500 for every day or part of a day during which the offence continues after conviction.[22