1. diligence and reasonable basis

members should have  reasonable and adequate basis

compliance procedure should be reviewed on an ongoing basis

这里的几个basis意思一样不？我如何理解这几句话？

2. underwriting of security 是为抵押物品提供担保？

类似的句子有 managers have large positions in a particular security

3. full research coverage 是全面的覆盖呢还是对方希望的research coverage，句子完整的在LV1 BOOK1的P23 EXAMPLE 4

4. buy rating是什么意思

[此贴子已经被作者于2009-7-14 22:32:21编辑过]

顶一下，希望有人可以帮到你。

Securities underwriting
Securities underwriting is the way business customers are assessed by investment houses for access to either equity or debt capital.

This is a way of placing a newly issued security, such as stocks or bonds, with investors. A syndicate of banks (the lead-managers) underwrite the transaction, which means they have taken on the risk of distributing the securities. Should they not be able to find enough investors, they will have to hold some securities themselves. Underwriters make their income from the price difference (the "underwriting spread") between the price they pay the issuer and what they collect from investors or from broker-dealers who buy portions of the offering. When a dealer bank purchases Treasury securities in a quarterly Treasury bond auction, it acts as underwriter and distributor. Treasury securities purchased by a primary dealer are held in a dealer bank's trading account assets portfolio, and they are often resold to other banks and to private investors

这个很准确