A capital reader should not comment in a way that creates investment advice, securities recommendations, fiduciary advice, credit approval, lending advice, valuation opinion, underwriting advice, public finance approval, procurement approval, legal advice, regulatory comfort, or endorsement.
Capital readers should not say:
whether to invest;
whether an investor should buy, sell, hold, subscribe, or commit;
whether a project is investable, bankable, financeable, or de-risked;
whether securities should be issued or purchased;
what valuation is appropriate;
what return is acceptable;
what debt terms should apply;
what lender should finance the matter;
what guarantee should be provided;
what public finance should be approved;
what investor will be interested;
whether an SPV should be formed as a legal recommendation;
whether a company should be endorsed;
whether a project should receive procurement approval.
A capital reader must also avoid disclosing their institution’s investment intentions, allocation plans, portfolio strategy, confidential opinions, or market-sensitive views.
The role is to identify questions, not make capital decisions.
