Research Entities

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nflict of interest arising from such dealings or trading of securities of subject company; (b) promoting objective and reliable research that reflects unbiased view of research analyst; and (c) preventing the use of research report or research analysis to manipulate the financial market. (2) A research entity shall ensure that the procedures or controls designed to manage actual or potential ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....does not trade for himself in a manner that is contrary to his outstanding research recommendations, except in special circumstances, where the analyst shall be required to obtain prior written approval for each trade. (8) A research entity shall ensure that the remuneration of analysts is structured in a way to avoid any bias in his research analyses and recommendations. (9) A research entity s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... shall disclose any material interest in the report that may create a potential conflict of interest and thereby affect the ability of the entity to maintain independence and objectivity: Explanation: The research entity shall disclose in the report if the research entity or the research analyst or his associate or his relative has: (a) any material financial interest in the subject compan....