published recommendation
5any publication by or on behalf of a firm (including publication by sound broadcasting or television or other electronic means) which contains:
- (a) the results of research into investments; or
- (b) analysis of factors likely to influence the future performance of investments; or
- (c) advice or recommendations based on those results or analysis, including any communication of which the content is common to a number of communications although worded as if it were a personal recommendation.