Disclosure InconsistencyAnalysts registered solely with FINRA are not subject to CIRO disclosure requirements, which can lead to inconsistent disclosure about potential conflicts and analytical methods.
Regulatory Oversight Of AnalystsSome analysts covering the company are not registered as FINRA Research Analysts and are not associated persons of the sponsoring broker, raising questions about oversight of those research notes.
Research CredibilityReduced regulatory oversight for certain research notes may undermine perceived independence and credibility of analyst guidance, increasing uncertainty for investors.