Principles
The cornerstones of Cedi Economics research are integrity, credibility and competency.

Cedi Economics is committed to providing the highest quality equity research and our research team strives to be objective, insightful, readable and timely.  Our analysts strive to be diligent and thorough in their research, supporting their basis for opinions with appropriate levels of independent investigation, inquiry and analysis.

Cedi Economics has no internal corporate finance or sales and trading business.  Our business focuses on developing equity research for both corporate issuers and investment professionals.

Access to non-public information

From time to time, Cedi Economics may be given access to non-public information. The firm has established controls so that the analysts receiving non-public information do so only in accordance with clear procedures that look to protect our clients' confidentiality and our research principles.  In the United States our issuers clients are expected to ensure that information provided to Cedi Economics has been publicly disclosed pursuant to the requirements of Regulation FD.

Limitations on analysts' involvement in activities other than the development of research

Analysts are not permitted to participate in sales presentations for our client’s finance mandates and are not permitted to make presentations or actively participate in client road shows.

Analysts are permitted to perform certain other roles where the firm believes that it would not compromise their independence or the appearance thereof, such as; discussing industry sector trends with corporate finance clients, assisting in due diligence, advising on market sentiment or helping to educate a client's sales force relating to a corporate finance transaction.

Analysts' Remuneration

Analysts are remunerated on a flat fee structure, with no part of an analyst's remuneration being related directly or indirectly to the views expressed in the research report.

Analyst remuneration is determined exclusively by Cedi Economics and our clients have no input into the remuneration of a Cedi Economics analysts.  Our analysts are not permitted to accept any remuneration or other benefit from an issuer or any other party in respect of the development and publication of research.