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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Archive
Rulebook Modules
Conduct of Business Module (COB) [VER34/01-20]
COB 6 Additional Rules — Investment Business
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices

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  • COB 6.3.3

    When an Authorised Firm publishes Investment Research, it must take reasonable steps to ensure that the Investment Research:

    (a) clearly identifies the types of Clients for whom it is principally intended;
    (b) distinguishes fact from opinion or estimates, and includes references to sources of data and any assumptions used;
    (c) specifies the date when it was first published;
    (d) specifies the period the ratings or recommendations are intended to cover;
    (e) contains a clear and unambiguous explanation of the rating or recommendation system used;
    (f) includes a distribution of the different ratings or recommendations, in percentage terms:
    (i) for all Investments;
    (ii) for Investments in each sector covered; and
    (iii) for Investments, if any, where the Authorised Firm has undertaken corporate finance business with or for the Issuer over the past 12 months; and
    (g) if intended for use only by a Professional Client or Market Counterparty, contains a clear warning that it should not be relied upon by or distributed to Retail Clients.
    Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]