Research Analyst Rules

2242. Debt Research Analysts and Debt Research Reports

(a) Definitions

For purposes of this Rule, the following terms shall be defined as provided.

(1) "Debt research analyst" means an associated person who is primarily responsible for, and any associated person who reports directly or indirectly to a debt research analyst in connection with, the preparation of the substance of a debt research report, whether or not any such person has the job title of "r

1240. Continuing Education Requirements

This Rule prescribes requirements regarding the continuing education of specified persons subsequent to their initial registration with FINRA.

1220. Registration Categories

(a) Definition of Principal and Principal Registration Categories

(1) Definition of Principal

A "principal" is any person associated with a member, including, but not limited to, sole proprietor, officer, partner, manager of office of supervisory jurisdiction, director or other person occupying a similar status or performing similar functions, who is actively engaged in the management of the

1210. Registration Requirements

Each person engaged in the investment banking or securities business of a member shall be registered with FINRA as a representative or principal in each category of registration appropriate to his or her functions and responsibilities as specified in Rule 1220, unless exempt from registration pursuant to Rule 1230.

Research Analyst Rules

SR-FINRA-2016-017

Proposed Rule Change to Amend FINRA Rule 2242 (Debt Research Analysts and Debt Research Reports)

FINRA Fines Stephens Inc. $900,000 for Inadequate Supervision of Research Department "Flash" Emails

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has censured Stephens Inc., of Little Rock, Arkansas, and fined the firm $900,000 for inadequately supervising firm-wide internal "flash" emails sent by its research analysts to convey information about companies and industries the firm covered.