(Based on Australia's Corporate Law)

Len runs a financial planning business and has an office on Collins Street. Kathy saw Len's street signage, and approached Len for investment advice. Kathy assumed that Len held an AFSL. Upon receiving Len's advice, Kathy invests $200,000 with a managed investment fund. Two months later, Kathy's friend Jenny, who is an ex-client of Len, told Kathy that Len is not licensed and has been banned from holding an AFSL by ASIC due to serious misconduct.

Kathy is now very worried about her investment and asks you for legal advice.

Required:

Advise Kathy of her legal rights and remedies under the Corporations Act 2001.