Insiderman

Open Letter to SEC: Wall Street's REIT Bait-and-Switch

You are correct. They should not have allowed it to be issued.


On Apr 22 10:12 AM wobatus wrote:

> A picayune point, but the compliance department doesn't issue a report.
> They may bless it. Perhaps they were side-stepped, duped or brow-beaten
> (the last 2 hardly good defenses). But yes, the firm is to blame.
>

Open Letter to SEC: Wall Street's REIT Bait-and-Switch

There is simply NO WAY a firm's compliance department should issue a market moving research report within 48 hours of an issue.


On Apr 22 09:31 AM oddsneds wrote:

> Weingarten is one of the better REIT's, I have followed it for more
> than 15 years. Their ability to sell sizeable stock so as to replace
> debt is a good sign and that alone is worthy of an analyst reconsidering
> their viewpoint as to the company's prospects. I don't know the analyst
> or her age, experience, reputation etc. so I wouldn't necessarily
> consider her opinion too highly on my reasons to buy or sell. I also
> think occasional conflicts of interest are inevitable and don't mean
> collusion or some secret plan to defraud us poor unsuspecting investors.

Open Letter to SEC: Wall Street's REIT Bait-and-Switch

Sounds to me like Jeffrey Donnelly, CFA needs to review the CFA Institute Research Objectivity Standards:

4.0 (a) ii. Ensure that investment banking objectives or employees do not have the ability to influence or affect research or recommendations;