Ethics of analysis <br/> and financial advisory

Definition

  • DayByDay periodically updates its asset coverage. Analysis and investment recommendations are conducted upon that universe.
  • Changes in that coverage will be announced in advance.
  • DayByDay offers financial analysis on that universe, on several time frames. An analysis methodology has been prepared. It is shared by all our analysts. It is described in this document.
  • DayByDay offers investment recommendations. They are logically derived from the previously conducted analysis. Our recommendation methodology is described in this document

Analyst deontology

  • The analyst must conduct its analysis and recommendations in the interest of its recipients. His reports and other means of communication must reflect on its free assessment. His will not be affected by the activity of other financial institutions, even that of DayByDay’s sister companies and its clients.
  • The analyst will make sure its recommendations are clear. He will specify risks and opportunities and, as much as it will be possible, the expected length of time of its views.
  • The analyst will not trade Equity markets for his own account.

Information transparency

  • Analysis and recommendations are offered with regular follow ups and precise guidelines. All clients may require access to the analysis over the previous 36 months before the last report published.
  • Analysts will update their analysis whenever prices will pass the levels indicated in their previous report, specifically the target and invalidation levels.
  • All recommendations published are monitored at all times, targets and invalidations are updated according to price evolution. DayByDay’s goal is to follow market trends while limiting risk in capital.
  • The analysis and investment recommendation will be presented differently according to the degree of qualification of recipients. A pedagogic effort will be made for non-professional users.

Performance measure exhaustivity

  • Precise and exhaustive statistics are available to all institutions concerned (market authorities, ethic experts, compliance officers...) who will send a reasoned request. Those statistics are available over the previous five years. They will mention the recommendation frequency, as well as their average hit rate, average performance, and other ratios that DayByDay considers relevant.
  • All recommendations will be followed; none can be removed from this mechanism. To request a recapitulation of our recommendations on a specific asset, please fill in this form.

Relations to other professionals, legal obedience.

  • In all countries where it exerts is activities, DayByDay staff will abide to the local laws. In case of doubt, it will immediately refer to its hierarchy or legal representative. Staff working for a subsidiary must comply to the laws of the country where the daughter company is established
  • DayByDay may hire consultants or commercial agents when necessary to its development because they bring a specific skill. Compensation for their service should be set by a contract. It should always be in adequacy to a real service and payed for in accordance to applicable laws.

Dealing with clients

  • Each member of staff should behave with integrity and loyalty to all clients.
  • Given the nature of DayByDay product and services, no compromise is acceptable in the field of ethics concerning the analysis and investment recommendations.

Dealing with providers

  • DayByDay selects its providers based on objective criteria specifically matching its interests. Performance and outstanding results will be required from providers to meet clients’ expectations.
  • DayByDay will refrain from dealing with providers who notoriously make use of Children’s work of forced labour.

Integrity

  • DayByDay staff and providers shall refrain damaging the company image, the integrity of its heritage and its information systems.
  • Payed activities of all type that one may have outside its employment should be exempt from any conflict of interest with functions within the group.
  • All trading activity on equities covered by the group are forbidden.
  • No member of staff shall accept or offer any present or advantage with the goal of obtaining a contract. No member of staff should be complacent towards active or passive corruption.

Sustainable development

  • Preserving the environment is an essential mission of DayByDay staff. It starts with a careful examination of daily tasks. Staff will be watchful and ensure to use resources as paper, heating, and other climate-sensitive goods with restraint.
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