ValueNotes is a member of the FIRST Research Consortium

In recognition of our capabilities and "independence", we were invited to join the Financial Independent Research Standards Task consortium - a grouping of independent analyst firms in the US that seeks to promote professional independent analyst standards.

The FIRST Research Consortium seeks to advocate excellence in research standards and ethics and lay down standards of independent research. In addition, the work together to enable brokerages, investment banks, principled hedge funds and other professional financial entities to offer their clients and the public the best available equity valuations and ratings.

By offering FIRST research to individual investors, investment banks will add value to their brokerage services while fulfilling the terms of their settlements with federal and state securities regulators. The settlement requires the investment banks to provide third-party research to their clients.

None of the Members of the FIRST Research Consortium offer investment banking, investor relations or other promotional services to companies under coverage.

ValueNotes has actively participated with Investrend and its other affiliates in laying down a code of Standards of Independent Research, and we are committed to helping propagate these standards.

ValueNotes is also an affiliate of Investrend Research, an independent research firm that has long championed the cause of independent research.