Ethics - help with two

Today I am with the cfa book. I must say that, even though examples are the same as in schweser, wording describing each standard is much complete than schweser. Just some quick doubts: 1. Should we face a violation of 1.C (misrepresentation) anytime we face a violation of 3.D (performance presentation)? 2. I understand that IPOs and sec.offerings should be allocated on a pro rata basis, according to order size. Same for allocating partially filled block orders. Ok. So… In which cases do we use the “first in, first out”? I don´t get it… Thanks a lot

trade orders are fifo

hala_madrid Wrote: ------------------------------------------------------- > 1. Should we face a violation of 1.C > (misrepresentation) anytime we face a violation of > 3.D (performance presentation)? I am not 100% sure but I’d say no. To me, 1C is more “general public” (eg. presenting performance/service of firm, publicising recommendations to media, see “Guidance” with 1C). On the other hand, normally a specific client is involved. - sticky