Series 79: Research Department

Research Department

Equity research reports and estimates in general are a key source of data on companies and industries. Members of an investment banker’s own research department are an especially handy resource and can provide an excellent source of insight into the market generally as well as industry sectors and, in many cases, specific companies.

When communicating with the research department, it is important to be mindful of restrictions on the relationship between research analysts and investment bankers. These restrictions have become much more stringent in recent years, as part of an effort to insulate analysts from potential pressure to alter research reports and recommendations.

FINRA Rules 2241 and 2242 prohibit anyone who works in a firm’s inve