Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:7:p16
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 7 (pt 16/39)
Character Range: 1142996–1145670

to acquire, a financial product that is able to be traded on that licensed market, without the licensee's acting as an agent in respect of the transaction, if the person's employment is not directly connected with the licensee's business of dealing in financial products on that licensed market.
 (5) Subject to subregulation (6), for subsection 991F(3) of the Act, the subsection does not apply unless:
 (a) the particular financial product that is acquired or proposed to be acquired is a financial product traded on a market in which the financial services licensee is not a participant at the time of the acquisition or the proposed acquisition; or
 (b) the particular financial product is a derivative the value of which is derived from a financial product mentioned in paragraph (a).
 (6) Subregulation (5) 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) an associate of the financial services licensee is a participant in the market mentioned in that subregulation.

Division 8—Miscellaneous

7.8.21A  Exceptions to prohibition on hawking of financial products
  For the purposes of paragraph 992A(2)(c) of the Act, the following kinds of offer, request or invitation are prescribed:
 (a) an offer for the issue or sale of:
 (i) listed securities; or
 (ii) an interest in a listed managed investment scheme;
  that is made by telephone by a financial services licensee;
 (b) an offer for the issue or sale of securities that is made to a client by a financial services licensee through whom the client has bought or sold securities in the last 12 months;
 (c) an offer for the issue or sale of an interest in a managed investment scheme that is made to a client by a financial services licensee through whom the client has acquired or disposed of an interest in a managed investment scheme in the last 12 months;
 (d) a CSF offer;
 (f) an offer of, or a request or invitation relating to, a financial product that is an arrangement under which medical indemnity cover to which the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 applies is provided to:
 (i) a medical practitioner (within the meaning of that Act); or
 (ii) a registered health professional (within the meaning of that Act) in relation to whom regulations made for the purposes of Part 3 of that Act apply;
 (g) an offer of, or a request or invitation relating to, a financial product that is an interest in a scheme that is in the nature of a litigation funding