Conflict of interest disclosure required: analysts must reveal ownership, compensation, material conflicts and AI use in research. Research analysts and entities must disclose all material information for investment decisions, including business activity, associates, and terms of engagement. Reports and public appearances must state ownership interests, material conflicts, prior employment with the subject company, market making activities, and compensation received from the subject company within the prior twelve months, including fees for underwriting, investment banking, brokerage or other services. Additional Board specified disclosures and the extent of use of Artificial Intelligence tools in research services must also be disclosed; limited exceptions apply where disclosure would reveal material non public information about prospective transactions.