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  • Part 11: Part 11: Financial Communications

    • Article 80 - Regulatory Authority's powers to make Rules in relation to Financial Communications.

      (1) The Regulatory Authority may make Rules relating to the circumstances in which Financial Communications may be made or approved by Authorised Firms and the form and content of such Financial Communications.
      (2) A " Financial Communication" is any communication (made via any medium including brochures, telephone calls and presentations) the purpose or effect of which is:
      (A) to promote or advertise (i) Specified Products or (ii) any Regulated Activity (or any activity that would be a Regulated Activity if it was carried on in or from the QFC); or
      (B) to invite or induce any Person (i) to enter into an agreement with any Person in relation to a Specified Product or (ii) to engage in any Regulated Activity (or an activity that would be a Regulated Activity if it was carried on in or from the QFC).

    • Article 81 - Prohibition on issue of Financial Promotions other than by Authorised Firms.

      (1) Subject to Article 81(2), no QFC Licensed Firm other than an Authorised Firm may make (or cause to be made) in the course of business any Financial Communication unless the content of the communication has been approved for the purposes of this Article by an Authorised Firm.
      (2) Article 81(1) shall not apply:
      (A) in respect of any Financial Communication made to another QFC Licensed Firm; or
      (B) to such other types or category of recipient or in such other circumstances as may be set out in Rules made by the Regulatory Authority.
      (3) The Regulatory Authority may make Rules prohibiting or restricting the extent to which, or the circumstances in which, Persons outside the QFC (whether in the State or otherwise) may send Financial Communications to Persons in the QFC or capable of having an effect in the QFC, but in the absence of such Rules there will be no restriction on such Financial Communications and a Person outside the QFC shall not be deemed to be carrying on business in or from the QFC purely by virtue of making such Financial Communication to a Person in the QFC.