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Research Objectivity Standards

Helping sell-side investment firms and professionals develop better research reports

Research Objectivity Standards

View the Standards (PDF)

Overview

The CFA Institute Research Objectivity Standards help sell-side investment firms and professionals develop objective and independent research reports. They include specific, measurable standards for managing and disclosing conflicts of interest.

What is Covered?

  • Firms' research policies
  • Public appearances
  • Investment banking
  • Analyst compensation
  • Relationships with other companies
  • Personal investments and trading
  • Timeliness
  • Rating systems

Why was it Developed?

  • To maintain your firm's reputation; ethical misconduct hurts investor confidence and taints the reputations of all investment professionals
  • To gain the competitive advantage that comes from having a reputation for integrity and putting investors' needs before your own
  • To demonstrate your commitment to high ethical standards and full disclosure