Series 24: Research Reports

Research Reports

SEC rules also govern the content of research reports during this period. A research report is a written communication that includes information, analysis, and/or recommendations on a security. A research report can be acceptable during the registration period if the researcher regularly reports on the issuer as part of his/her business and the report falls under one of these rules:

• • Rule 137 applies to research reports by non-participating broker-dealers. Under Rule 137, broker-dealers that are not participating in the offering may recommend the offering in a research report as long as the report about the issuer is part of