What must a research analyst disclose in a research report?
Every research report must disclose any actual or potential conflict of interest: financial interest held by the analyst or their relatives in the subject company, and compensation received from that company in the preceding twelve months.1 It must also carry the analyst’s registration details and the standard disclaimer prescribed for research reports.2
- 1SEBIMaster Circular for Research Analysts, disclosure of conflicts of interest · p. 31
- 2SEBIMaster Circular for Research Analysts, standard disclaimer · p. 33