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Best Practice Guidelines Governing Analyst/Corporate Issuer Relations

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Abstract

These guidelines are intended to promote higher standards for relations between corporate issuers and research analysts. The guidelines address broad ethical concerns and define standards for the following areas: information flow between analysts and issuers, analyst conduct in preparing and publishing research reports and making investment recommendations, corporate issuer conduct in providing analysts with access to corporate management, review of analyst reports by corporate issuers, and research that is solicited, paid, or sponsored by the issuer.

About the Author(s)

CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. CFA Institute works with academic institutions with the University Affiliation Program. Academic institutions that embed a significant portion of the CFA Program Candidate Body of Knowledge (CBOK)—including the Code of Ethics and Standards of Professional Conduct—into their curriculum may be eligible to participate in the University Affiliation Program.
An Affiliated University signals to their students and to employers that their curriculum is closely tied to the practice of investment management and is helpful to students preparing for the CFA® Program exams.