Is it a violation if a 2 analysts of the same firm have done research together, one of them doesn’t agree with the other so removes the OTHER analyst’s name from the report and doesn’t give any recognition to the other analyst’s portion of the analysis?
I thought it would be but in a CFA Mock question didn’t mention anything about misrepresentation. Is the analysis done by both analyst considered the firm’s property so they don’t need to mention the contributed portion of the other analyst’s work?
If you make a research as a company employee, possibly the report will not show the analysts’ names. However, in the case a report with names is released, an analyst can demand for her name to be removed from the report if she is disagree with the report’s conclusion. Hence only the other analysts’ names will appear and it is not a violation of the code.
Yes, exactly the analyst in disagreement removes the OTHER analyst’s name. I wish I had the question to input here. Im just going to forget about this question, some of the cfa worded ethics questions are pretty misleading…and I just finished reading the entire ethics section for a 3rd time so it’s not like I don’t know the standards, it’s wording of the questions alone, not the standards themselves, that I think are pretty misleading.
Found the question, taken from CFA Mock, "Lawrence Hall, CFA and Nancy Bish, CFA, bagan a joint research report on Stamper Coproation. Biship visited Stamper’s corporate headquarters for several days and met with all company officers. Prior to the completion of the report, Bishop was reassigned to another project. Hall used his and Bishop’s resarch to write the report but did not include Bishop’s name on the report, because he did not agree with and changed Bishop;s conclusion included in the final report. According to the Standards of Practice Handbook, did Hall most likely violate any CFA Institute Standards of Professional Conduct?
Any thoughts? I cant remember the question choices but misrepresentation was an option but was not the correct one? Any thoughts?
A: Yes with respect to diligence and reasonable basis
B: Yes, with respect to misrepresentation
C: No
I put B (Misrepresentation) but CFA Mock said this was wrong…“Members are in compliance with CFA Institute’s Standard V(A)-Diligence and Reasonable Basis if they rely on the resaerch of another party who exercised diligence and thoughness. Because Bishop’s opinion did not agree with the final report, disassociating her from the report is one way to handle this difference between the analyst”
I do not agree with this, the CFA standards say you have to give credit where credit is due? Do you not have to if they work for the same firm? Hall obviously used part of Bishop’s research. Yes, he can remove a name from the report if he doesn’t agree, but he removed someone elses and gave no credit to their portion of the work. I’d say this is clearly misrepresentation.