---
name: etoro-disclaimers
description: eToro regulatory disclaimer reference for campaign, email, landing page, ad, and compliance work. Use when selecting exact risk language, entity language, or product-specific disclaimer requirements by region.
---

# eToro Disclaimers

Use this skill when an eToro asset needs disclaimer selection or disclaimer validation.

Primary local artifact:
- `shared/dictionaries/etoro/disclaimers.json`

## Source of Truth

1. The primary source of truth is the maintained Google Sheets disclaimer workbook.
2. You must load the spreadsheet tabs relevant to the task before selecting or validating disclaimer text.
3. Do not assume the first tab is sufficient; this workbook contains multiple tabs.
4. If the sheet is unavailable in the current environment, use the local generated dictionary artifact and explicitly state that live sheet verification was not possible.
5. Never paraphrase disclaimer text. Use the exact approved wording for the relevant entity, region, and product.

Spreadsheet reference:
- `https://docs.google.com/spreadsheets/d/1XQEooNqW8Dz8oJbBCdlpwTcJYYDdpLI7xrFvPe26yNU`

## Sheet Loading Rule

When the user asks for disclaimer work:

1. Treat the spreadsheet as authoritative.
2. Load every relevant tab for the requested market, product, and channel.
3. Cross-check tab names and scope before finalizing output.
4. If access requires credentials, use the repo's Google Sheets access pattern instead of inventing a new one.
5. If you cannot access the workbook, stop calling it "verified" and switch to fallback mode.

Recommended access pattern from this repo:
- OAuth or per-tab CSV export workflow described in `../shared-dictionary-agent/references/sync-from-google-sheets.md`

## Operational Rule

The local dictionary at `shared/dictionaries/etoro/disclaimers.json` is the repo artifact agents should read first.
It should mirror the Google Sheets workbook whenever the sheet is accessible.
Do not hard-code disclaimer text in downstream skills when a dictionary lookup will do.
The current dictionary was generated from the live workbook tabs and is organized by tab, group, offering, and channel variants.
For SFMC email work, use this dictionary directly and render the selected disclaimer text into the email HTML output.

## Refresh Policy

1. Refresh the disclaimer dictionary every 7 days.
2. Treat the Google Sheets workbook as the source to refresh from.

## Regulation ID Dictionary

The canonical source of truth for RegulationID → RegulationName mapping is:

- **Google Sheet:** https://docs.google.com/spreadsheets/d/1LG8JPDZAwC3N-aGFubTbI7jNeN-PEen-xxBphKZZTqI/edit?gid=1479844529
- **Tab GID:** `1479844529` (`DICT_TAB_GID_REGULATION_IDS`)
- **Local artifact:** `shared/dictionaries/etoro/regulation_ids.json`
- **Access:** service account
- **Refresh cadence:** 7 days

Always resolve regulation IDs from this dictionary, not from hardcoded strings. If the local artifact is missing `source_of_truth`, re-run the sync script to regenerate it.

## Regulatory Entities

| Entity | Regulator | License |
|--------|-----------|---------|
| eToro (Europe) Ltd | CySEC | 109/10 |
| eToro (UK) Ltd | FCA | FRN 583263 |
| eToro AUS Capital Pty Ltd | ASIC | AFSL 491139 |
| ARSN (AU stocks) | ASIC | 637 489 466 |
| eToro (Seychelles) Ltd | FSAS | SD076 |

## Dictionary-First Lookup

When selecting a disclaimer:

1. Open `shared/dictionaries/etoro/disclaimers.json`.
2. Match on the record metadata:
- `tab`
- `group`
- `offering`
- `variants[].channel_variant`
- `record_type`
3. Reuse the exact `value` field.
4. When channel-specific wording matters, read `metadata.variants[]` and select the matching variant instead of assuming the top-level `value` covers every placement.
5. Preserve the selected `key` in outputs when possible so downstream steps can audit the choice.

Primary workbook-derived tabs currently loaded into the dictionary include:
- `FCA`
- `CySEC`
- `ASIC`
- `UAE`
- `Singapore (MAS)`
- `Seychelles updated 05/03/25`
- `eToro Money 02/03/22`
- `USA Securities/LLC`
- `USA LLC`
- `ASIC disclaimer CFD/OTC`
- `ASIC GAML - Real Stock`
- `ASIC - CFD/OTC UPDATE`
- `ASIC GAML - Real Stock Update`
- `Investment Research guidelines`
- `Footers`

## Selection Rules

1. Start with the relevant regulation tab, not a generic fallback.
2. Match the offering text to the promoted product or campaign claim.
3. Match the channel variant to the placement context:
- mobile-focused social and mobile partners
- desktop-focused
- web pages / long-form / platform feed
- footer-specific contexts
4. If multiple variants exist for the same row, choose the exact channel variant instead of shortening manually.
5. For research-style content or disclaimers embedded in analysis material, check `Investment Research guidelines`.
6. For email and website legal blocks, check `Footers`.

## Placement Rules

1. Disclaimer text must be readable, persistent enough to notice, and visually distinct from the pitch.
2. Do not bury disclaimers in low-contrast areas or over busy imagery.
3. For video, require an early risk cue and a full ending disclaimer block.
4. For email, place disclaimers in the footer with sufficient font size and contrast.
5. In SFMC email, render disclaimer text directly inside the email free-form HTML. Do not create separate SFMC disclaimer assets.
6. In SFMC email, render layers in this order:
- main content
- product disclaimer text
- entity/footer text
7. For SFMC email selection, resolve:
- the product disclaimer from the relevant regulation tab and email/long-form variant
- the entity/footer text from the `Footers` tab

## Working Rule

If there is any conflict between a draft asset and the approved disclaimer matrix, the asset must change, not the disclaimer.

## Fallback Output Requirement

If the spreadsheet could not be loaded, say so explicitly and label the result as:

```text
Fallback disclaimer selection based on the generated local dictionary artifact. Live spreadsheet verification unavailable.
```
