Selective info could constitute MiFID advice

The FSA has published the final version of its perimeter guidance covering the scope of MiFID and the Capital Requirements Directive (CRD) to complement the process it is taking of writing individually to firms likely to be affected by the directives. It explains investment advice under MiFID means providing personal recommendations to a client, either at their request or on the firm’s own initiative, in respect of one or more transactions relating to MiFID financial instruments, such as shares and derivatives. A personal recommendation is similar to the UK regulated activity of advis...