Regulations Governing Futures Advisory Enterprises Article 15

A futures advisory enterprise which by means of publications, lectures, or courses, or through other media including television, telephone, telegraph, facsimile, the Internet, or other forms of electronic transmission or broadcast media engages in the consulting services of Article 2, paragraph 1, subparagraph 1 with respect to unspecified persons other than principals, in addition to conduct prohibited under Article 25 herein, also may not engage in the following conduct:1. Judgments or recommendations involving the future trading price of individual futures contracts or the provision of recommendations about trading strategies;2. Advertising activity of any kind for the purpose of soliciting clients during the course of futures trading analyses offered over broadcast media;3. Any conduct that involves conflicts of interest, fraud, misrepresentation, or an attempt to influence market conditions;4. Failure to provide a reasonable analytical basis for any judgment on or analysis of market conditions;5. Engaging in futures trading analysis or the production and issuance of written materials under anything other than the company name, such as the name of an associated person or an internal research unit;6. Violation of the self-regulatory rules of the Futures Association.The self-regulatory rules referred to in the preceding paragraph shall be adopted by the Federation of Futures Industry Associations and implemented after submission to the competent authority for approval; the same shall apply to any amendments thereto.