BC-2.10.9
Past version: Effective from 18 Jul 2025 to 30 Jun 2007
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(a) identifies the types of clients 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 investment firm 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 investment business licensee publishes investment research; and
(ii) for financial instruments , if any, where the investment firm licensee has undertaken corporate finance business with or for the issuer over the past 12 months.