Article 10 Advertisements directed at informing or influencing persons of a particular kind
For the purposes of article 8 of this Order, each of the following is an indication that an advertisement is directed at informing or influencing persons of a kind not specified in paragraph (1) of that article—
the advertisement concerns an investment which is likely to be of interest mainly to persons acting in their personal capacity;
the minimum amount which may be expended in order to enter into any transaction to which the advertisement relates is sufficiently small that it is unlikely to deter persons who do not have professional experience in matters relating to investment from responding to the advertisement; and
the advertisement is a direct offer advertisement within the meaning given to that expression for the purposes of the core rules for the conduct of investment businessf1.
None of the indications given in paragraph (1) above is to be taken as showing conclusively that an advertisement is directed as there mentioned and, equally, the fact that an advertisement contains none of those indications is not to be taken to indicate that it is not so directed.
Annotations
Footnotes
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The core rules for the conduct of investment business were made by the Securities and Investment Board and published in January 1991.