These Standards apply to the persons exercising a controlled function or a pre-approval controlled function on a professional basis, the exercise of which includes the following:
a) providing advice to consumers on retail financial products;
b) arranging or offering to arrange retail financial products for consumers, including any amendments to insurance cover and the restructuring or rescheduling of loans, or
c) the exercise of a specified function.
These Standards do not apply to a person exercising a controlled function or pre-approval controlled function the exercise of which is concerned solely with the provision of a retail financial product free of charge in conjunction with another financial product.