Diligence and Reasonable Basis

I just have a clarification on Standard V(A). According to the Standards, "Members and candidates must:

  1. Exercise diligence, independence and thoroughness in analyzing investments, making investment recommendations and taking investment actions. 2. Have a reasonable and adequate basis, supported by appropriate research and investigation, for any investment analysis, recommendation or action."

Let us say that I am a candidate and I am trading for my own account that I manage personally. Are my decisions with regards to my personal account also subject to Standard V(A)?

Logically, of course I would benefit from holding myself accountable to this standard at all times, especially when managing my own money. But for the sake of compliance, if I just heard of a good stock tip (which is not a material nonpublic information), I can trade on this tip without violating this standard if I only do this on my personal account, right?

There are 3 stakeholders pertaining to the standard

Capital Market, Clients, Employer.

If you’re self-employed? Technically, you might be in breach to both client and employer. But obviously no one will discover that unless you self-report, which would be idiotic. As would be the act of investing your portfolio in securities for which you haven’t done the necessary due diligence.

Diligence and reasonable are in the eye of the beholder.

I would like to see the investigation into the "i hereby report myself aka. “The advisor” for not giving me aka. “The client” full disclosure of limitations in reasonable dilligence with regards to advice regarding investments hereby described as “The lottery”. I have a responibility to me as my advisor, and urge you to investigate how i failed to inform myself, thereby leading mee to make investments i would not have done if i informed myself of their speculative nature…tell us how it goes, and look out for white coats, doors without handles and strong medication…