financial promotion
An invitation or inducement to engage in investment activity, which only an authorised person may communicate or approve.
A price, a cost and a discount describe a property. A margin, a yield and a return on cash describe what an investor would make from it, and publishing the second to the public is a different act in law from publishing the first.
Direct purchase of land is not itself a controlled investment, which is why the line is drawn where it is: a worked example labelled as an illustration is not a statement that opportunities are available at a given return.
Getting it wrong is a criminal offence rather than a regulatory tidy-up, which is why the honest response to uncertainty is to withhold the figure and say why.
Where this comes up
- When a deal pack becomes a financial promotion
Direct property purchase sits outside the perimeter. Package it, share it, or publish a return, and the same pack becomes something only an authorised person…