A person dealing with unit trust should at all times strive to act with honesty, dignity and integrity. He should conduct himself and should encourage others to market and distributes unit trusts in a professional and ethical manner that will reflect credit on him, fellow registered persons and industry.
In particular, the person dealing with unit trust must not misrepresent or recklessly represent:-
- His qualification or that of the management company represent;
- The products and/or its characteristics offered by the management company he represent; and
- The past investment performances of the fund he is marketing.
Conduct, which is dishonest, would include any omission of a material fact. A material fact may be defined as one which would cause the customer to appreciate that the unit trust fund is different from that actually represented to him.
