(1) Subject to Regulation 26, a relevant person responsible for the preparation or production of recommendations shall take reasonable care to ensure that -
(a) facts are clearly distinguished from interpretations, estimates, opinions and other types of non-factual information,
(b) all sources are reliable or, where there is any doubt as to whether a source is reliable, this is clearly indicated, and
(c) all projections, forecasts and price targets are clearly labelled as such and that the material assumptions made in producing or using them are indicated.
(2) Subject to Regulation 26, a relevant person shall take reasonable care to ensure that any recommendation can be justified to the Bank if the Bank requests justification of the recommendation.