BC-8.12.9
(a) Identifies the types of customers for which it is principally intended;
(b) Distinguishes fact from opinion or estimates, and includes references to sources of data 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 price chart or line graph depicting the performance of the financial instrument for the period that the conventional bank licensee has assigned a rating or recommendation for that financial instrument , which must also show the dates on which the ratings were revised; and
(g) Includes a distribution of the different ratings or recommendations, in percentage terms:
(i) For all financial instruments in respect of which the conventional bank licensee publishes investment research; and
(ii) For financial instruments , if any, where the conventional bank licensee has undertaken corporate finance business with or for the issuer over the past 12 months.
Added: April 2008