rights to or interests in such investments.
Article 53 does not apply to advice given on any of the following:
deposit or other bank or building society accounts (but note that providing basic advice on a stakeholder product including stakeholder deposit accounts is a separate regulated activity under article 52A of the Regulated Activities Order - see the guidance in PERG 2.7.14A G (Providing basic advice on stakeholder products));
mortgages or other loans (but note that advising on regulated mortgage contracts is a separate regulated activity under article 53A of the Regulated Activities Order – see the guidance in PERG 4 (Regulated activities connected with mortgages));
National Savings products;
foreign exchange (or cash);
commodities (for example, gold);
any other physical property capable of having investment potential (for example, works of art, racehorses) unless investment is made through a collective investment scheme.