How to understand the meaning of misrepresentation?

A misrepresentation is any untrue statement or omission of a fact or any statement that is otherwise false or misleading.

Must not knowingly,  omit or misrepresent information or give a false impression of a entity, or security in oral representations,  advertising, electronic communications, or written materials (whether publicly disseminated or not). （各種形式的不正當(dāng)陳述都不行，書面報(bào)告即使沒有發(fā)布也不行）

“Knowingly” means that either knows or should have known that the misrepresentation was being made or that omitted information could alter the investment decision‐making process.

Guidance ‐ Impact on Investment Practice

不允許保證收益，但若結(jié)構(gòu)性產(chǎn)品本身是剛兌（保本）的，可以保證收益

禁止說大話，滿嘴跑火車（Such as, we may provide all services）

雇傭第三方要進(jìn)行披露，不能將第三方的業(yè)績歸于自己

Plagiarism policy:

Maintain copies: Keep copies of all research reports, articles containing research ideas, material with new statistical methodologies, and other materials that were relied on in preparing the research report.

 Attribute quotations: Attribute to their sources any direct quotations, including projections, tables, statistics, model/product ideas, and new methodologies prepared by persons other than recognized financial and statistical reporting services or similar sources.（知名機(jī)構(gòu)的數(shù)據(jù)不必引用）

Work Completed for Employer

Firm may issue future reports without attribution to prior analysts,  but a member or candidate cannot issue under his name.

May use other people’s work within the same firm without committing a violation. （同一公司的報(bào)告不用引用）

When the original analyst leaves the firm, research and models developed while employed are the property of the firm.  The firm retains the right to continue using them.

The firm may issue future reports without providing attribution to the prior analysts.  A member or candidate cannot reissue a previously released report solely under his or her name.