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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 FirmG publishes Investment ResearchG , it must take reasonable steps to ensure that the Investment ResearchG :

    (a) clearly identifies the types of ClientsG 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 InvestmentsG ;
    (ii) for InvestmentsG in each sector covered; and
    (iii) for InvestmentsG , if any, where the Authorised FirmG has undertaken corporate finance business with or for the IssuerG over the past 12 months; and
    (g) if intended for use only by a Professional ClientG or Market CounterpartyG , contains a clear warning that it should not be relied upon by or distributed to Retail ClientsG .
    Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

    • COB 6.3.3 Guidance

      An Authorised FirmG may consider including a price chart or line graph depicting the performance of the InvestmentG for the period that the Authorised FirmG has assigned a rating or recommendation for that investment, including the dates on which the ratings were revised for the purposes of the requirements such as in (d) and (e) of COB Rule 6.3.3.

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]