Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments.

Advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings.

Granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction.

Placing of financial instruments without a firm commitment basis.

Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis.