personal recommendation

(except in CONRED) 102a recommendation that is advice on investments, advice on conversion or transfer of pension benefits, 125234or advice on a home finance transaction50 and is presented as suitable for the person to whom it is made, or is based on a consideration of the circumstances of that person.A recommendation is not a personal recommendation if it is issued exclusively through distribution channels or to the public.46[Note: article 52 of the MiFID implementing Directive]46102(in CONRED) a recommendation which is advice on investments and:

1. (a) where given on or before 31 October 2007, was given to a specific person; or
2. (b) where given on or after 1 November 2007, was presented as suitable for the person to whom the recommendation was made, or was based on a consideration of the circumstances of that person, other than a recommendation issued exclusively through distribution channels or to the public.