GEN 2.11.1

(1) In GEN Rule 2.2.2, Advising on Financial Products means giving advice to a Person in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor, on the merits of his buying, selling, holding, subscribing for or underwriting a particular financial product (whether as principal or agent).
(2) Advice in (1) includes a statement, 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
(b) which could reasonably be regarded as being intended to have such an influence.
(3) Giving advice to a Person under (1) includes operating an Insurance Aggregation Site relating to contracts of Long-Term Insurance, other than contracts of reinsurance.
(4) For the purposes of this Rule and GEN Rule 2.11.2, a "financial product" is:
(a) an Investment;
(b) a Deposit;
(c) a Profit Sharing Investment Account;
(d) a right under a contract of Long-Term Insurance, that is not a contract of reinsurance;
(e) a right under an Employee Money Purchase Scheme; or
(f) a right or interest in a pension, superannuation, retirement or gratuity scheme or arrangement, or a broadly similar scheme or arrangement.
Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] [VER10/06-06]
[Amended] DFSA RM49/2007 (Made 1st October 2007). [VER16/10-07]
[Amended] DFSA RM68/2009 (Made 3rd January 2010). [VER24/01-10]
Amended in accordance with Notice of Amendments to Legislation April 2011 [VER27/02-11]
[Amended] DFSA RM176/2016 (Made 19th June 2016) [VER37/08-16]
[Amended] DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]
[Amended] DFSA RMI260/2019 (Made 18th December 2019). [VER47/01-20]
[Amended] DFSA RMI301/2021 (Made 30th June 2021). [VER52/09-21]