Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:7:p12
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 7 (pt 12/39)
Character Range: 1132805–1135623

a financial services licensee to deal in financial products, on the financial service licensee's own account, through licensed markets or through other financial markets (whether inside or outside Australia).
 (2) The financial services licensee must keep records setting out brief particulars of the following matters:
 (a) the instructions;
 (b) if the instructions were received on behalf of a client—the client;
 (c) the person who gave the instructions to the financial services licensee;
 (d) the date and time of receipt of the instructions, and the person who received the instructions;
 (e) the date and time of transmission of the instructions, and the person who transmitted the instructions;
 (f) the date and time of execution of the instructions.
 (3) For subregulation (2), if:
 (a) a financial services licensee transmits for execution on a financial market outside Australia and the external Territories instructions to deal in financial products; and
 (b) it is not reasonably practicable for the financial services licensee to set out the date and time of execution of those instructions in its records;
the financial services licensee must set out the date and time as precisely as is reasonably practicable.
 (4) The financial services licensee must keep records relating to instructions given by a client to deal in financial products in a manner that makes the records identifiable separately from records relating to instructions to deal in financial products on the financial services licensee's own account.
 (5) The financial services licensee must keep the records mentioned in subregulation (2) for at least 5 years after the particulars are created.

7.8.20  Dealings with non‑licensees
 (1) For the purposes of subsection 991E(1) of the Act, section 991E of the Act does not apply in relation to the sale or purchase of the following financial products by the body corporate by which the financial products were made available:
 (a) a security made available in accordance with Chapters 5C and 6D of the Act;
 (b) a managed investment product made available in accordance with Chapters 5C, 7 and 8A of the Act;
 (c) a foreign passport fund product made available in accordance with Chapters 7 and 8A of the Act.
 (1A) Subject to subregulation (1B), for subsection 991E(1) of the Act, the subsection does not apply to a transaction if, at the time of the transaction, the financial services licensee is not a participant in the licensed market on which the particular financial product is being traded.
 (1B) Subregulation (1A) does not apply if:
 (a) the financial services licensee deals, or has dealt, in a financial product traded on that market:
 (i) on the licensee's own behalf (whether directly or through an agent or other representative); or
 (ii) on behalf of a client; or
 (b)