Part 11: Part 11: Financial Communications
Article 80 - Regulatory Authority's powers to make Rules in relation to Financial Communications.(1) The
Regulatory Authoritymay make Rulesrelating to the circumstances in which Financial Communicationsmay be made or approved by Authorised Firmsand 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 Productsor (ii) any Regulated Activity(or any activity that would be a Regulated Activityif 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 Personin relation to a Specified Productor (ii) to engage in any Regulated Activity(or an activity that would be a Regulated Activityif 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 Firmother than an Authorised Firmmay make (or cause to be made) in the course of business any Financial Communicationunless 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 Communicationmade 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 Rulesmade by the Regulatory Authority.(3) The Regulatory Authoritymay make Rulesprohibiting or restricting the extent to which, or the circumstances in which, Personsoutside the QFC(whether in the Stateor otherwise) may send Financial Communicationsto Personsin the QFCor capable of having an effect in the QFC, but in the absence of such Rulesthere will be no restriction on such Financial Communicationsand a Personoutside the QFCshall not be deemed to be carrying on business in or from the QFCpurely by virtue of making such Financial Communicationto a Personin the QFC.