Regulatory Alerts2015-07-27
Added · Updated
Research Analyst Regulations 2015
The Securities and Exchange Commission of Pakistan establishes qualification, certification, and experience requirements for Research Analysts and Independent Research Analysts. The regulations mandate written internal policies to manage conflicts of interest, restrict trading activities within seven days before and five days after report publication, and prohibit compensation structures tied to non-research services. Issuers and analysts must disclose specific financial interests, such as holdings exceeding 1% of a subject company's value, and maintain records for a minimum of five years. The rules also impose a 25-day blackout period on issuing research or making public appearances for companies recently advised or underwritten by the entity.