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SEC terminates undertakings in Global Research Analyst Settlement affecting 12 firms

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Photo: H. Armstrong Roberts/Retrofile/Getty Images

Julie DiMauro

3 min read
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One reason for the modification is that following the settlement, FINRA adopted Rule 2241, which addresses equity research and conflicts of interest.

The SEC has agreed to amend two prior judgments reached in October 2003 and September 2004 that comprised what has been called the “Global Research Analyst Settlement,” a global settlement of SEC and other agency enforcement actions against 12 investment banks and two individuals.

These settlement actions addressed conflicts of interest between research

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