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The Commission Directive of 22 December 2003 implementing the Market Abuse Directive as regards the fair presentation of investment recommendations and the disclosure of conflicts of interest (No. 2003/125/EC).
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Commission Directive No. 2006/73/EC implementing Directive 2004/39/EC of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.
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Directive of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse) (No 2003/6/EC).
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a financial promotion is made to a person if it is addressed, whether orally or in legible form, to a particular person or persons (for example where it is contained in a telephone call or letter).
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the regulated activity, specified in article 37 of the Regulated Activities Order (Managing investments), which is in summary: managing assets belonging to another person in circumstances which involve the exercise of discretion, if:(a) the assets consist of or include any security or contractually based investment (that is, any designated investment, funeral plan contract or right to or interest in a funeral plan contract); or(b) the arrangements for their management are such that the assets may consist of or include such investments, and either the assets have at any time since 29 April 1988 done so, or the arrangements have at any time (whether before or after that date) been held out as arrangements under which the assets would do so.
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the regulated activity, specified in article 25(2) of the Regulated Activities Order (Arranging deals in investments), which is in summary: making arrangements with a view to a person who participates in the arrangements buying, selling, subscribing for or underwriting any of the following investments (whether as principal or agent):(a) a designated investment; or(b) a funeral plan contract; or(c) the underwriting capacity of a Lloyd's syndicate; or(e) rights to or interests in investments in (b), (c) or (d); or(f) a pure protection contract; or(g) a general insurance contract.
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the Council Directive of 10 June 1991 on the prevention of the use of the financial system for the purpose of money laundering (91/308/EEC) as amended by the Council Directive of 4 December 2001 (2001/97/EEC).
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(in summary) a firm to which MiFID applies including, for some purposes only, a credit institution and UCITS investment firm .(in full) a firm which is:(1) an investment firm with its head office in the EEA (or, if it has a registered office, that office);(2) a BCD credit institution (only when providing an investment service or activity in relation to the rules implementing the Articles referred to in Article 1(2) of MiFID);(3) a UCITS investment firm (only when providing the services referred to in Article 5(3) of the UCITS Directive in relation to the rules implementing the articles of MiFID referred to in Article 5(4) of that Directive);unless, and to the extent that, MiFID does not apply to it as a result of Article 2 (Exemptions) or Article 3 (Optional exemptions) of MiFID.
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(a) an investment which is traded on or under the rules of an exchange;(b) a debt instrument which may be transferred without the consent of the issuer or any other person (including a collateralised mortgage obligation);(c) a commodity;(d) a warrant, option, future or other instrument which entitles the holder to subscribe for or acquire:(ii) any currency; or(iii) any combination of (i) and (ii);(e) a contract for differences (including interest rate and currency swaps) relating to fluctuations in:(ii) any currency; or(iii) the rate of interest in any currency or any index of such rates; or(iv) the level of any index which is derived from the prices of an investment or commodity in (a) to (c); or(v) any combination of (i) to (iv);