What must Rhonda Morrow disclose when writing a research report about a company associated with her firm?

In creating a research report about a company tied to her firm, Rhonda Morrow must disclose both her firm's market maker status in the specific stock and its relationship due to a board member. This necessity arises from the principle of transparency in research and the potential for conflicts of interest that could influence her analysis or recommendations.

By disclosing her firm's market maker status, Rhonda ensures that readers are aware that her firm has a financial interest in the stock, which could affect the impartiality of her research. Additionally, informing readers about the relationship with a board member provides further context, as this connection may lead to biases or insider information that could impact her conclusions about the company.

In the context of ethical research practices, full disclosure of any potential conflicts helps maintain trust and integrity in the investment community. It allows investors and readers to assess the research's credibility, enabling them to make more informed decisions. Thus, the inclusion of both disclosures is vital for aligning with ethical standards and protecting the interests of all parties involved.