Disclosure Requirements

Disclosure Requirements:

DISCLOSURES REQUIREMENTS

 

Analysis of the Vishal Gupta who is engaged in research activity and preparing research report shall disclose all material information about himself or the Research Analyst including the following in its report:

 

  1. Business Activity
  2. Disciplinary History
  • Terms and conditions on which it offers research report
  1. Details of Associates
  2. Details with respect to Ownership and Material Conflict of Interest such as:

 

  1. Whether Vishal Gupta or any Research Analysts or its/his associate or relatives has any Financial interest in the subject company, if yes, together with nature of such financial interest.
  2. Whether the Vishal Gupta or any Research Analysts or its/his associate or relatives have actual /beneficial ownership of 1 % or more securities of subject company at the end of the month immediately preceding the date of publication of research report or date of public appearance, as the case may be.
  3. Details of actual / beneficial ownership of one percent or more securities of the subject company, at the end of month immediately preceding the date of publication the research report or date of public appearance.
  4. Details of any material conflict of interest at the time of publication of research report or at the time of public appearance.
  5. Details of any compensation received by the Vishal Gupta or Research Analysts or its/his/her/their associates from the subject company in past 12 months.
  6. Details of whether the Vishal Gupta or its associates have managed or co-managed the public offering of Subject Company in past 12 months.
  7. Details of whether the Vishal Gupta or its associates have received any compensation for investment banking or merchant banking of brokerage services from the subject company in past 12 months.
  8. Details of whether the Vishal Gupta or its associates have received any compensation for products or services other than above from the subject company in past 12 months.
  9. Details of any compensation or other benefits received by the Vishal Gupta or Research Analysts or its/his/her/their associates from the subject company or 3rd party in connection with the research report.

 

  1. Vishal Gupta and / or its Research Analysts shall disclose in public appearance with regard to receipt of compensation (a) whether the Vishal Gupta or Research Analysts or its/his/her/their associates have received any compensation from the subject company in past 12 months (b) whether the subject company is / was client of the Company during 12 months preceding the date of distribution of research report and the types of such services provided by Vishal Gupta.
  • Whether the Research Analysts has served as an officer, director or employee of the subject company.
  • Whether Vishal Gupta or its Research Analysts has been engaged in market making activity of the subject company.
  1. Such other disclosures in research reports / public appearance as specified by SEBI under any other regulations.
  2. Such Research Reports reflects the factual information about the subject company and are based on reliable information. Such reports also contain the definition of terms which are used in making recommendations and such terms have been used consistently.
  3. If such Research Reports contain either a rating or price target for at least 1 year, the same shall also provide for the graph of daily closing price of such securities for the period assigned or for a 3 year period, whichever is shorter.
  • Such Research Report shall not be issued selectively to internal trading personnel or to a particular client or group of other clients in advance of other clients who are entitled to receive the research report.
  • In case of distribution of any 3rd party research report, Research Analysts of the Vishal Gupta shall review such 3rd party report for any untrue statement of material fact or any false or misleading information, provided that the Vishal Gupta or its Research Analysts do not have any direct/indirect business or contractual relationship with such 3rd party research provider.
  • In case, any Vishal Gupta or his Research Analysts appears in public media and make any recommendation, the disclosure of his / its name, registration status and details of financial interest shall invariably made at the time of making such recommendation or offering any opinion in his personal capacity, responding to any queries of audience or journalists in personal capacity and communicating the research report or its substance through public media.

 

 

For & On Behalf of

VG STOCK RESEARCH

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