Section 1 - ASIC Corporations (Adara Advisors) Instrument 2025/634 - ASIC Corporations (Adara Advisors) Instrument 2025/634

1ASIC Corporations (Adara Advisors) Instrument 2025/634

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ASIC Corporations (Adara Advisors) Instrument 2025/634

I, Jacqueline Cochrane, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 18 September 2025

Jacqueline Cochrane

Contents

Part 1—Preliminary 3

1 Name of legislative instrument....................................3

2 Commencement...............................................3

3 Authority....................................................3

4 Simplified outline of this instrument...............................3

5 Definitions...................................................4

Part 2—Exemption 5

6 Exemption for Panel Members....................................5

7 Where exemption for Panel Members applies........................5

8 Exemption for Volunteers.......................................6

9 Where exemption for Volunteers applies............................6

Part 3—Repeal 8

10 Repeal.......................................................8

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Adara Advisors) Instrument 2025/634.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under paragraph 926A(2)(a) of the Corporations Act 2001.

4 Simplified outline of this instrument

Adara Advisors, an Australian financial services licensee, has a business which relies on prominent members of the financial services industry to work on corporate advisory matters on a pro bono basis for Adara Partners. Adara Partners is an authorised representative of Adara Advisors. The fees generated from services rendered to wholesale clients of Adara Partners are donated to an international development organisation.This instrument provides exemptions from subsection 911B(1) of the Act so that:(a) a person (called a Panel Member) who provides financial services as an employee or director of another person (called a Panel Member Firm) is able to provide financial services as an authorised representative of Adara Advisors without also being an authorised representative of the Panel Member Firm; and(b) a person (called a Volunteer) who is a representative of another person (called a Volunteer Firm) and who is also an employee of the Volunteer Firm or a related body corporate is able to provide financial product advice to Adara Partners on behalf of Adara Advisors without being an authorised representative of both Adara Advisors and the Volunteer Firm.The exemptions are subject to various requirements.

(a) Adara Advisors holds an Australian financial services licence covering the provision of the financial product advice; and (b) the Volunteer is a representative of Adara Advisors; and (c) the Volunteer is a representative of another person (Volunteer Firm) who carries on a financial services business and the Volunteer is an employee of the Volunteer Firm or a related body corporate of the Volunteer Firm; and (d) the Volunteer only provides the financial product advice to Adara Partners to support Adara Partners to provide financial services to wholesale clients of Adara Partners; and (e) the Volunteer does not provide financial product advice to clients of Adara Partners; and (f) Adara Partners is an authorised representative of Adara Advisors; and (g) Adara Advisors keeps a register of Volunteers that it engages; and (h) Adara Advisors has received from the Volunteer written confirmation that the Volunteer has received the consent of the Volunteer Firm to the Volunteer being engaged by Adara Advisors as its representative; and (i) Adara Advisors has a written undertaking from the Volunteer: (i) to manage conflicts of interest arising from acting as a representative of Adara Advisors and a representative of the Volunteer Firm; and (ii) not to use confidential information obtained in the course of acting as a representative of Adara Advisors when acting as a representative of the Volunteer Firm; and (iii) not to use confidential information obtained in the course of acting as a representative of the Volunteer Firm when acting as a representative of Adara Advisors; and (iv) to satisfy the training requirements of the Volunteer Firm in relation to conflicts management, confidential information, and any other relevant training; and (v) not to receive any financial benefit as a result of providing the financial product advice; and (j) Adara Advisors has received from the Volunteer a written notification that the Volunteer Firm has confirmed that there is no conflict of interest for the Volunteer Firm in the Volunteer providing the financial product advice; and (k) the Volunteer does not receive any financial benefit as a result of the Volunteer providing the financial product advice.