This case relates to misrepresentation and plagiarism. CFA Institute Standard I(C): Misrepresentation prohibits members from making any misrepresentations related to investment analysis or other professional activities. This Standard also prohibits plagiarism in the preparation of material for distribution. Plagiarism is copying or using in substantially the same form materials prepared by others without acknowledging the source of the material or identifying the authors.
In this case, Guy presented the passages of other research in his article as if they were his own writing and insights without the permission or proper identification and attribution of the original sources. The fact that he voluntarily wrote the article for his CFA Society for education and discussion purposes and that it was not provided to clients is irrelevant. The fact that the research he plagiarized is publicly available on the internet also does not alter his responsibility to properly acknowledge the authors of content that is not his own. Although Guy did include references to source materials, he did not provide a citation for those passages that he included, essentially word-for-word, in the article. As a result, he violated the CFA Institute Code of Ethics and Standards of Professional Conduct. Because his violations were included in and directly tied to a CFA Institute publication, he also likely violated Standard VII(A): Conduct as Participants in CFA Institute Programs by engaging in conduct that compromises the reputation and integrity of CFA Institute. Choice D is the best choice.
This case is based on a disciplinary action taken in September 2019 by the CFA Institute Professional Conduct Program.