When an investment intermediary is providing advice to a client on shares listed on a Stock Exchange, it must comply with the:

• A. Consumer Protection Code.
• B. MiFID Regulations.
• C. Stock Exchange Code of Conduct on investment advice.
• D. Code of Conduct for investment intermediaries.

Answer: (A)

Protection of consumers in financial advice is the main framework governing how an adviser should handle guidance on shares listed on a stock exchange. When giving retail clients advice, the emphasis is on clear communication, full disclosure of risks and fees, suitability to the client’s situation, and fair, non-misleading conduct. The Consumer Protection Code sets out these baseline protections for financial services, so it directly governs the adviser’s responsibilities in this scenario. Other rules like MiFID Regulations or more specific exchange codes exist in other regimes or contexts, but the CPC provides the overarching consumer-facing standard that applies here.