Rule 344. Research Analysts and Supervisory Analysts

This rule is no longer applicable. Incorporated NYSE Rule 344 has been superseded by FINRA Rule 1200 Series. Please consult the appropriate FINRA Rule.

Research analysts and supervisory analysts must be registered with, qualified by, and approved by the Exchange.

Adopted:
June 18, 1964.

Selected Notice: 08-67.

• • • Supplementary Material: --------------

.10 For purposes of this Rule, the term "research analyst" includes a member, allied member, associated person or employee whose primary job function is to provide investment research and who is primarily responsible for the preparation of the substance of a research report and/or whose name appears on such report. Such research analysts must pass a qualification examination acceptable to the Exchange.
.11 For purposes of this Rule, the term "supervisory analyst" includes a member, allied member, or employee who is responsible for preparing or approving research reports under Rule 472(a)(2). In order to show evidence of acceptability to the Exchange as a supervisory analyst, a member, allied member, or employee may do one of the following:
(1) Present evidence of appropriate experience and pass an Exchange Supervisory Analyst Examination (Series 16).
(2) Present evidence of appropriate experience and successful completion of a specified level of the Chartered Financial Analysts Examination prescribed by the Exchange and pass only that portion of the Exchange Supervisory Analyst Examination (Series 16) dealing with Exchange rules on research standards and related matters.
The Exchange publishes a Study Outline for the Research Analyst Examination and the Supervisory Analyst Examination (Series 16).
.12 For purposes of this Rule, the term "associated person" is defined as a natural person engaged in investment banking, or a securities or kindred business, who is directly or indirectly controlling or controlled by a member or member organization, whether or not any such person is registered, applying for registration or exempt from registration with the NYSE.
Amended:
October 4, 1973;
March 10, 1983;
July 29, 2003 (NYSE-2002-49);
February 23, 2005 (NYSE-2005-12);
April 14, 2005 (NYSE-2005-24).
Amended by SR-FINRA-2014-047 eff. Sept. 25, 2015.

Selected Notices: 08-67, 15-30.

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