Entire Section

  • COB 6.3.3 COB 6.3.3

    When an Authorised Firm publishes Investment Research, it must take reasonable steps to ensure that the Investment Research:

    (a) clearly identifies the types of Clients for whom it is principally intended;
    (b) distinguishes fact from opinion or estimates, and includes references to sources of data and any assumptions used;
    (c) specifies the date when it was first published;
    (d) specifies the period the ratings or recommendations are intended to cover;
    (e) contains a clear and unambiguous explanation of the rating or recommendation system used;
    (f) includes a distribution of the different ratings or recommendations, in percentage terms:
    (i) for all Investments;
    (ii) for Investments in each sector covered; and
    (iii) for Investments, if any, where the Authorised Firm has undertaken corporate finance business with or for the Issuer over the past 12 months; and
    (g) if intended for use only by a Professional Client or Market Counterparty, contains a clear warning that it should not be relied upon by or distributed to Retail Clients.
    Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

    • COB 6.3.3 Guidance

      An Authorised Firm may consider including a price chart or line graph depicting the performance of the Investment for the period that the Authorised Firm has assigned a rating or recommendation for that investment, including the dates on which the ratings were revised for the purposes of the requirements such as in (d) and (e) of COB Rule 6.3.3.

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]