A Licensed Person must take due care to ensure that: 1. Facts in a recommendation are clearly distinguished from interpretations, estimates, opinions and other types of non-factual information. 2. Its sources for a recommendation are reliable and clearly refer to these sources and their date. 3. All projections, forecasts and price targets in a recommendation are clearly labelled as such and the material assumptions made in producing or using them are indicated. 4. A clear explanation of the recommendation made “buy”, “sell” or “hold” and associated risks. 5. Date of preparing the recommendation.