The 2003 global analyst research settlement required research analysts' compensation to be unrelated to investment-banking business and instead tied to the quality and accuracy of their research.
Sources
- Speech by SEC Chairman: Prepared for Delivery at SEC Press Conference Regarding Global Settlement (sec.gov)
- https://www.faegredrinker.com/en/insights/publications/2003/6/the-global-settlement-of-research-conflicts-of-interestback-to-the-future-for-the-research-analyst (faegredrinker.com)
- https://www.valuewalk.com/2015/11/the-global-settlement-all-star-analyst-departures-and-their-impact-on-the-capital-markets/ (valuewalk.com)
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