Article 2 Identity of producers of recommendations

Persons who produce investment recommendations or other information recommending or suggesting an investment strategy ("recommendations") shall disclose clearly and prominently in all the recommendations they produce their identity and the following information about the identity of any other person(s) responsible for the production of the recommendation:

1. (a)

   the name and the job title of all the natural persons involved in the production of the recommendation;

2. (b)

   where a natural or a legal person involved in the production of the recommendation is acting under contract, including a contract of employment, or otherwise for a legal person, the name of such legal person.

Where the person who produces recommendations is an investment firm, a credit institution, or a natural person working for an investment firm or a credit institution under contract of employment or otherwise, that person shall, in addition to the information laid down in paragraph 1, state the identity of the relevant regulator (whether that is the Financial Conduct Authority or the relevant competent authority) in the recommendation.

Where the person who produces recommendations is not a person referred to in paragraph 2, but is subject to self-regulatory standards or codes of conduct for the production of recommendations, that person shall, in addition to the information laid down in paragraph 1, state a reference to those standards or codes in the recommendation.