Code of Conduct for Research Analyst

  • Honesty and Good Faith
    • Research Analyst shall act honestly and in good faith.
  • Diligence
    • Research Analyst shall act with due skill, care and diligence and shall ensure that the research report is prepared after or stock recommendation are given after thorough analysis.
  • Conflict of Interest
    • Research Analyst shall effectively address conflict of interest which may affect the impartiality of its research analysis and research report or stock recommendation and shall make appropriate disclosures to address the same.
  • Insider Trading or Front Running
    • Research Analyst shall not engage in insider trading or front running of its own research report or stock recommendation.
  • Confidentiality
    • Research Analyst shall maintain confidentiality of report or research recommendation till the report is made public or stock recommendations are provided to respective clients.
  • Professional Standard
    • Research Analyst engaged in research analysis or research recommendation shall observe high professional standards while preparing research report or analyzing subject companies for stock recommendations.
  • Compliance
    • Research Analyst shall comply with all regulatory requirements applicable to the conduct of its business activities.

2. Insider Dealing

  • No staff member in possession of inside information may be involved in trading, making recommendations or publishing research with respect to the financial instruments to which the information relates.

3. No Front-Running

  • Front-running is prohibited. There are two ways in which front-running can arise:
    • Through use of client order information, utilizing advance knowledge of pending orders of clients.
    • Through information about the timing or contents of research prior to publication to clients.