3608. Research report disclosure of potential conflicts of interest

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    1. A research report prepared by the Dealer Member must disclose any matter which might reasonably indicate an existing or potential conflict of interest for the Dealer Member or the analyst, which includes, but is not limited to, the matters set out in subsection 3608(2).

    2. A research report prepared by the Dealer Member must disclose:

      1. if the Dealer Member or its affiliates has beneficial ownership of the equity securities of the subject issuer that amounts to one percent or more of any class of such securities: 

        1. as of the end of the month prior to the issuance date of the research report, or

        2. as of the end of the second most recent month if the report issuance date is less than 10 days after the end of the prior month,

      2. if:

        1. the analyst,

        2. an associate of the analyst, or

        3. any person directly involved in the preparation of the report,

      3. holds or is short any of the issuer’s securities directly or indirectly,

      4. any services provided by any partner, Director or officer of the Dealer Member or analyst involved in the preparation of a report, other than services provided in the normal course investment advisory or trade execution services to the issuer for remuneration, during the 12 months immediately preceding the date a research report or recommendation was issued,

      5. any investment banking services provided by the Dealer Member to the issuer for remuneration during the 12 months immediately preceding the date a research report or recommendation was issued,

      6. the name of any  partner, Director, officer, employee or agent of the Dealer Member who is a partner, director, officer or employee of the issuer, or who serves in an equivalent advisory capacity to the issuer, and

      7. if it is making a market in any equity security or equity related security of the subject issuer.

    There is no history log for this rule.

    There is no history log for this rule.