Are discretionary fee paying accounts treated differently from non discretionary fee paying accounts in terms of priority of tra

CFA Level III Ethics
#1

Are discretionary fee paying accounts treated differently from non discretionary fee paying accounts in terms of priority of transactions?

#2

Probably so as a practical matter: for a discretionary account the manager may make a trade whenever he wants to, whereas for a nondiscretionary account the manager would need to contact the client to obtain permission to make the trade, which will undoubtedly delay the trade.