PART II SPECIFIED ACTIVITIES
Chapter XIIAdvising on Investments
The activity
Advising on investments53
Advising a person is a specified kind of activity if the advice is—
a
given to the person in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor; and
b
advice on the merits of his doing any of the following (whether as principal or agent)—
i
buying, selling, subscribing for or underwriting a particular investment which is a security or a F2relevant investment, or
ii
exercising any right conferred by such an investment to buy, sell, subscribe for or underwrite such an investment.
F1Advising on regulated mortgage contracts53A
1
Advising a person is a specified kind of activity if the advice—
a
is given to the person in his capacity as a borrower or potential borrower; and
b
is advice on the merits of his doing any of the following—
i
entering into a particular regulated mortgage contract, or
ii
varying the terms of a regulated mortgage contract entered into by him after the coming into force of article 61 in such a way as to vary his obligations under that contract.
2
In this article, “borrower” has the meaning given by article 61(3)(a)(i).
F3Advising on regulated home reversion plans53B
Advising a person is a specified kind of activity if the advice—
a
is given to the person in his capacity as—
i
a reversion seller or potential reversion seller, or
ii
a plan provider or potential plan provider; and
b
is advice on the merits of his doing either of the following—
i
entering into a particular regulated home reversion plan, or
ii
varying the terms of a regulated home reversion plan, entered into on or after 6th April 2007 by him, in such a way as to vary his obligations under that plan.
F3Advising on regulated home purchase plans53C
Advising a person is a specified kind of activity if the advice—
a
is given to the person in his capacity as a home purchaser or potential home purchaser; and
b
is advice on the merits of his doing either of the following—
i
entering into a particular regulated home purchase plan, or
ii
varying the terms of a regulated home purchase plan, entered into on or after 6th April 2007 by him, in such a way as to vary his obligations under that plan.