Asked by the Customer on 06-04-2017 13:55:07
Question posted in the General Law category relating to Eastern Cape

Could you please confirm if the following would constitute investment advice advice under the Financial Advisory and Intermediary Services Act, 37 of 2002 ; Independent, objective research on the real estate sector. Some reports are company specific but are not tailored to an individual clients suitability or situation. Reports would be sent to a number of institutional clients at the same time. The reports are data rich and informative. Some may include stock valuations but with no commentary about whether it’s best to buy or sell. No recommendation is given and no target prices are used on the report. No advice is given on whether to buy or sell. We believe we fall under subsection (3)(a) ii below advice” means, subject to subsection (3)(a) (ii), any recommendation, guidance or proposal of a financial nature furnished, by any means or medium, to any client or group of clients….. 3 (a) For the purposes of this Act - (a) advice does not include - (i) factual advice given merely - (aa) on the procedure for entering into a transaction in respect of any financial product; (bb) in relation to the description of a financial product; (cc) in answer to routine administrative queries; (dd) in the form of objective information about a particular financial product; or (ee) by the display or distribution of promotional material; (ii) an analysis or report on a financial product without any express or implied recommendation, guidance or proposal that any particular transaction in respect of the product is appropriate to the particular investment objectives, financial situation or particular needs of a client;