Past version: effective up to 17/06/2006
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(1) In GEN Rule 2.2.2
Advising on Financial Products or Credit means giving advice which:
(a) is given to a
Person in his capacity as an investor or potential investor, borrower or potential borrower, or in his capacity as agent for an investor or a potential investor, borrower or potential borrower; and
(b) is advice on the merits of his buying, selling, holding, subscribing for or underwriting a particular financial product (whether as principal or agent); or
(c) is advice on the merits of his entering into a particular
(2) Advice in (1) includes a statement of opinion or report:
(a) where the intention is to influence a
Person, in making a decision, to select a particular financial product or an interest in a particular financial product or to enter into a particular Credit Facility; or
(b) which could reasonably be regarded as being intended to have such an influence.
(3) For the purposes of this
Rule and GEN Rule 2.11.2 a 'financial product' is an Investment or rights under a contract of Long-Term Insurance, not being a contract of reinsurance.
Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]