Section 922HC — Corporations Act 2001: Requirement to retain information

(1) A financial services licensee must retain evidence of the continuing professional development undertaken during the licensee’s CPD year by: (a) if the licensee is a relevant provider—the licensee; and (b) if a relevant provider is authorised to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products—the relevant provider. (2) The evidence must be retained for 12 months after the end of the CPD year. Offence (3) A person commits an offence if: (a) the person is required to retain evidence under this section; and (b) the person fails to retain the evidence in accordance with this section. Penalty: 50 penalty units.