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.46For the purposes of this definition, references in the Handbook to making personal recommendations on, or in relation to, P2P agreements should be understood as referring to making personal recommendations involving advice on P2P agreements.140[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.

For the purposes of this definition, references in the Handbook to making personal recommendations on, or in relation to, P2P agreements should be understood as referring to making personal recommendations involving advice on P2P agreements.140