FIRST
Research Consortium
The
FIRST Research Consortium, founded in May, 2003 as a peer-based
not-for-profit Association of Standards-Based Research
Providers, and recognizing that surveys indicate that three out
of every four investors are most influenced by an Analyst
report, believes it to be in the public's interest to define
the provision of such research and
development
In
conjunction with ethical Providers, to from time to time
establish, promulgate and update acceptable industry-wide
umbrella, global
Standards of Practice
for Research Providers,
and to fully inform and educate the industry and the public as
to these Standard and deviations there from.
Such
Research Providers may be defined or classified as follows:
Institutional Research Providers are those that offer
analytical research internally, or to institutional or retail
clients and/or to the general public. Often such Providers are
brokerages or investment banks, and their Analysts may be
in-house or contractual.
Subscriber-Based
Research Providers are those that offer analytical research to
institutional (brokerage, money management, investment banking,
hedge fund) clients and/or the investing public in exchange for
an annual or monthly subscription fee, and/or a per-report
fee.
Sponsored
Research Providers are those that offer analytical research to
institutional and/or the general investing public for a fee.
The fee may be paid by any entity.
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