On 4 July 2016, the Association for Financial Markets in Europe ("AFME") published guidance on research meetings and material prior to the award of a capital markets mandate. AFME provided commentary on how meetings should be conducted and structured so as to avoid the view that research analysts were not objective. AFME also described certain topics as inappropriate for such research meetings, such as asking research analysts' specific views on a potential IPO.

AFME's guidance can be accessed here:

http://www.afme.eu/WorkArea/DownloadAsset.aspx?id=14288

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