Market Letters
A market letter is any written communication that is excepted from the definition of a “research report” as defined in NASD Rule 2711. Examples of market letters include the following:
- • Discussions of broad-based indices
- • Commentaries on economic, political and market conditions
- • Technical analysis of the supply and demand of a sector
- • Statistical summaries of multiple companies’ financial data including listings of current ratings
- • Recommendations regarding increasing and decreasing holdings in a