Research Report Approval, Disclosures, and Dissemination

What this video covers

• Why the Series 16 Supervisory Analyst is the report-by-report gatekeeper, and why a Series 24 General Securities Principal alone cannot pre-publication approve research
• The four things a Supervisory Analyst actually reviews: factual basis, reasonable conclusions, analyst certifications, and communications-with-the-public compliance
• Why personal disagreement with an analyst's investment opinion is never valid grounds for refusing approval if the factual basis and disclosures are solid
• The 1% firm-wide beneficial-ownership threshold, and why it aggregates prop desk, affiliate, and error-account holdings for disclosure purposes
• The 12-month backward-looking window for investment banking compensation and managed or co-managed offerings, versus the 3-month forward-looking window for expected IB compensation
• Why pushing third-party research to a client triggers full principal review, while shelving it on a portal only requires source disclosure
• Why pre-publication tipping to internal desks is a per se violation, and why distribution tiers must be documented in official firm policy