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June 28, 2001 The SEC issued an investor alert that recommends that investors not rely solely on financial analyst recommendations when deciding to buy, hold or sell shares of an issuer. Instead, the SEC stated that investors should consult multiple sources of information while considering their own investment goals and tolerance for risk. The purpose of the release is to explain the relationships between securities analysts and the investment banking and brokerage firms that employ them, the alert educates investors about potential conflicts of interest analysts may face. The alert likely was in response, in part, to set of voluntary guidelines released by the Securities Industry Association (SIA) on June 12, 2001, which is an attempt by the SIA to bolster the independence of financial analysts. To access a copy of the SEC alert, click http://www.sec.gov/investor/pubs/analysts.htm. |
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