misleading a client by informing him that products require only a single payment when that is not the case;
mismarking the value of investments or trading positions;
procuring the unjustified alteration of prices on illiquid or off-exchange contracts, or both;
misleading others within the firm about the credit worthiness of a borrower;
providing false or inaccurate documentation or information, including details of training, qualifications, past employment record or experience;
- (10) 1
- (11) 6
destroying, or causing the destruction of, documents (including false documentation), or tapes or their contents, relevant to misleading (or attempting to mislead) a client, his firm, or the FCA or PRA.
misleading others in the firm about the nature of risks being accepted.
3Deliberately failing to inform, without reasonable cause:
a customer; or
- (2) 1
- (3) 6
of the fact that their understanding of a material issue is incorrect, despite being aware of their misunderstanding, falls within APER 4.1.2G.
3Behaviour of the type referred to in APER 4.1.8G includes, but is not limited to, deliberately:
preparing performance reports for transmission to customers which are inaccurate or inappropriate (for example, by relying on past performance without appropriate warnings);
preparing inaccurate training records or inaccurate details of qualifications, past employment record or experience;
preparing inaccurate trading confirmations, contract notes or other records of transactions or holdings of securities for a customer, whether or not the customer is aware of these inaccuracies or has requested such records.
front running client orders;
using a client's funds for purposes other than those for which they were provided;
retaining a client's funds wrongly;