Regulation 11

A financial adviser who, without reasonable excuse, contravenes regulation 4(1) or (2), 5(1), (2), (3) or (4), 6, 7(1) or (2), 8(1), (2) or (3) or 9(1), (2) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction.