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Ralph Malone, CFA, has many clients, including a trust account that benefits three of his immediate family members. His firm changes its recommendation on a stock from “hold” to “buy” on a security that is suitable for many clients, including the trust. Which of the following would be considered a violation of the Standard concerning priority of transactions?

A Malone waits until after the firm purchases the security to buy it for the family trust account

Because the family account is a client account, it should be treated as any other client account would be. Waiting until after the firm buys shares would violate Standard VI(B) Priority of Transactions. There is no requirement that a firms recommendations be make public.