The circular explained that “an investment advisory service essentially involves investment decisions made by the advised client based in a significant part of them, on the opinions and recommendations of the licensee providing the service. The information to which the investor is exposed has a significant impact Substantial data regarding the activity and quality of performance in the advisory account that will allow the client to examine the various investment alternatives. “
Although there is no legal obligation to transfer the information to the client, “the rate of return recorded by the securities account is basic and important information for clients who receive investment consulting services from a banking corporation that holds the information that forms the basis for calculating the return, even if not all actions “The advice he received, without it, the client would not be able to compare different alternatives available to him and choose which one is preferable,” they added.
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