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Analysts Must Come Clean

Traders Magazine, October 2001

Gregory Bresiger

The National Association of Securities Dealers, responding to criticism that Wall Street analysts aren't disclosing all conflicts of interest, is working on a new rule that would force analysts to give more information on their private holdings and their firms' relationships with market makers. Officially, an NASD spokeswoman would only say that, "we cannot comment on any of that at this time." However, an NASD governor, Richard Romano, was quoted in a published report as saying that, "There has been some formal discussion on it." Romano, the president of the investment firm, Romano Brothers & Co., in Evanston, Ill., added that there has been no decision on a rule change.

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