The regulations also provide for minimum qualifications and experience requirements for research analysts, their general responsibilities and required records to be maintained besides providing provisions for compliance and enforcement mechanism and liability for action in case of default.
ISLAMABAD -- The Securities and Exchange Commission of Pakistan (SECP) has issued Research Analyst Regulations, 2015, under the newly promulgated Securities Act, 2015.
However, when Citigroup detected violations involving selective dissemination and client communications, there were lengthy delays before the firm disciplined the research analysts and the disciplinary measures lacked the severity necessary to deter repeat violations of Citigroup policies.
One example of Citigroup's failure to supervise certain communications by its equity research analysts involved "idea dinners" hosted by Citigroup equity research analysts that were also attended by some of Citigroup's institutional clients and sales and trading personnel.
Independent research analysts, intermediaries which employ research analysts and issues research reports, as also research analysts giving recommendations in the TV channels, newspapers and websites will come under the proposed regulations.
Commenting on the additional costs that research analysts will have to spend to remain Sebi-compliant, Rahul Goel, CEO of Equity Master, says, "For us there is no issue of compliance costs at all.
Operations
research analysts begin by defining the problem and learning everything they can about it.
Neither the
research analyst nor any member of the
research analyst's household nor Rodman & Renshaw, LLC serves as an officer, director or advisory board member of Biomira, Inc.
Neither the
research analyst nor Rodman & Renshaw, LLC has any material conflict of interest with Cubist Pharmaceuticals, of which the
research analyst knows or has reason to know at the time of publication of this research report.
Groh, Vice President, Senior
Research Analyst, was named the nation's No.
com has recognized Steven Chercover, Vice President, Senior
Research Analyst, as the nation's top analyst in the earnings estimates category for his coverage of the paper and forest products industry.
s Equity Capital Markets group as a vice president and
research analyst.
