PART VIExempt Communications: Certain Controlled Activities

Financial markets37

1

The financial promotion restriction does not apply to any communication—

a

which is a non-real time communication or a solicited real time communication;

b

which is communicated by a relevant market; and

c

to which paragraph (2) or (3) applies.

2

This paragraph applies to a communication if—

a

it relates only to facilities provided by the market; and

b

it does not identify (directly or indirectly)—

i

any particular investment issued, or to be issued, by or available from an identified person as one that may be traded or dealt in on the market; or

ii

any particular person as a person through whom transactions on the market may be effected.

3

This paragraph applies to a communication if—

a

it relates only to a particular investment falling within paragraph 21, 22F3, 23 or 23A of Schedule 1; and

b

it identifies the investment as one that may be traded or dealt in on the market.

4

Relevant market” means a market which—

F2za

is a relevant UK market;

a

meets the criteria specified in Part I of Schedule 3; or

b

is specified in, or is established under the rules of an exchange specified in, Part F1... III or IV of that Schedule.