Securities Advisory: SEC Approves New Rules Addressing Research Analyst Conflicts of Interest
6/19/2002
This advisory focuses on the supervisory procedures that firms must adopt and implement in order to avoid potential conflicts of interest that may arise through the production and distribution of research by brokerage firms. The advisory delineates the operative provisions of both the NASD's and NYSE's newly approved rules: the relationships between firms' research and investment banking departments, and between firms and subject companies; compensation; quiet periods; personal trading by analysts; and disclosure in research reports and public appearances.
