Conflicts of Interest

Faraday has procedures in place designed to avoid potential conflicts of interest, or the appearance of such. These include:

• Relevant shares and interests in securities held by Faraday, its  partners, employees, or affiliates, are disclosed in each report. 
• Where any relationship exists with companies recommended by Faraday, other than a direct shareholding, this is also fully disclosed in the respective research report 
• Faraday does not have agreements in place with any of the companies we recommend with respect to an obligation to provide research coverage 
• All share transactions by Faraday, its partners, employees, or affiliates, must be pre-approved by the Compliance Department of Faraday. 
• Trading by Faraday, its partners, employees, or affiliates, is prohibited during the first 48 hours after the Faraday report is released. 
• Trading by Faraday, its partners , employees, or affiliates, in stocks covered in the next Faraday report is prohibited in the seven days leading up to publication. 
• All shares and interests in securities purchased by Faraday, its partners, employees, or affiliates must be held for a minimum period of 30 days.

Types of recommendations

The below table lists the characteristics of the recommendations made by Faraday each quarter.