To summarize the quesiton, a manager, managing a fund, has a position in ABC stock. The fund also has position in ABC stock. One day, the fund client calls the manager to sell the ABC stock because of negative outlook. The manager “SIMULTANEOUSLY” places “sell” orders for both the clients account and his personal account. Is this a violation of Standard VI.B?? The answer is YES. But i remember in the CFAI text one of the questions allows simultaneous trading as long as the client has been taken care of. Any thots?
no, the interest of clients is always a priority
Yeah, the Code is clear on this - client trades must come BEFORE personal ones.