recommendation

Definitions over time (1)

24/12/2003 – today applies on 10/11/2026 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:

"recommendation" means research or other information recommending or suggesting an investment strategy, explicitly or implicitly, concerning one or several financial instruments or the issuers of financial instruments, including any opinion as to the present or future value or price of such instruments, intended for distribution channels or for the public;