BC-9.13.11

For the purpose of Paragraph BC-9.12.8, the minimum requirements that should be met where the Islamic bank licensee prepares and publishes investment research include:

(a) Analysts must not trade in securities or related derivatives ahead of publishing research on the issuer of these securities;
(b) Analysts must not trade in securities or related derivatives of any issuer that they review in a manner contrary to their existing recommendations except in special circumstances subject to pre-approval by compliance or legal personnel;
(c) Analysts must not accept inducements by issuers or others with a material interest in the subject matter of investment research; and
(d) Islamic banks must not promise issuers favourable research coverage, specific ratings or specific target prices in return for a future or continued business relationship, service or investment.
Amended: July 2015
Amended: January 2011
Added: April 2008