research or other information recommending or suggesting investment strategy

Definitions over time (1)

24/12/2003 – today applies on 12/11/2026 Article 1, Commission Directive 2003/125/EC Scope: Whole act

For the purposes of this Directive, the following definitions shall apply in addition to those laid down in Directive 2003/6/EC:

"research or other information recommending or suggesting investment strategy" means: (a) information produced by an independent analyst, an investment firm, a credit institution, any other person whose main business is to produce recommendations or a natural person working for them under a contract of employment or otherwise, that, directly or indirectly, expresses a particular investment recommendation in respect of a financial instrument or an issuer of financial instruments; (b) information produced by persons other than the persons referred to in (a) which directly recommends a particular investment decision in respect of a financial instrument;