Research Analysts and Research Reports (Equity): FINRA Rule 2241

Summary

This practice note discusses Rule 2241 of the Financial Industry Regulatory Authority, Inc. (FINRA), which modified and consolidated NASD Rule 2711 and Incorporated NYSE Rule 472. Rule 2241 addresses conflicts of interest regarding the publication and distribution of equity research reports and public appearances by equity research analysts. In July 2015 the Securities and Exchange Commission (SEC) approved the adoption of FINRA Rule 2241, which became fully effective on December 24, 2015 (and was amended, effective August 16, 2019, to conform to the Fair Access to Investment Research Act of 2017).