A weird question just popped up in my head. Can you have your own client account? What if you have partners/family in your firm and then you put your own account with your partners/family?
You can trade for your own account provided full disclosure and no harm to clients (your interests come dead last). Family are just like any other client and should not be discriminated against when allocating oversubscribed IPOs, etc
you can also do stupid things with your own account, ie no reasonable basis, that you couldn’t do with client accounts