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0. Chang Li is head of sales at an investment bank. Li while reviewing the marketing material of the bank realizes that some of the information contained there-in is out of date. The marketing material is generated from the results provided by the bank‟s mutual funds and Li has no control over it. He continues to provide the material to his sales team without updates. Did Li violate any Standard?
Yes, with respect to misrepresentation.
No, because he has no control over the marketing material.
Yes, with respect to disclosure of conflicts.
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