This term is not referred to in the Financial Services and Markets Act 2000 (FSMA) but is commonly used to describe where a person, acting in the course of business, communicates an invitation or an inducement to engage in investment activity. FSMA contains a basic prohibition on financial promotion communicated by persons who are not authorised persons, subject to specified exemptions (section 21).
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.