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published recommendation

5any publication by or on behalf of a firm (including publication by sound broadcasting or television or other electronic means) which contains:

  1. (a) the results of research into investments; or
  2. (b) analysis of factors likely to influence the future performance of investments; or
  3. (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.