Section 10 When person gives financial advice
(1) A person (A) gives financial advice if A makes a recommendation or gives an opinion in relation to acquiring or disposing of (including refraining from acquiring or disposing of) a financial product.
(2) Whether or not advice is financial advice for the purposes of this Act is not affected by how the advice is given or communicated.
(3) However, a person does not give financial advice for the purposes of this Act merely by—
(a) providing information (for example, the cost or terms and conditions of a financial product); or
(b) making a recommendation or giving an opinion relating to a class of financial products; or
(c) making a recommendation or giving an opinion about the procedure for acquiring or disposing of a financial product; or
(d) transmitting the financial advice of another person (unless A gives A’s own financial advice in doing so or holds out the transmitted financial advice as A’s own financial advice); or
(e) recommending that a person consult a financial adviser.