Reference no: EM133293228

Dilan Frazer works as a junior manager of an asset management firm. When Dilan joined the fe frvs years ago, his elder brother and sister opened fee-paying trading accounts with him to help him baild s book of clients. At the time of opening these accounts,Dilan followed all the necessary proceikges outlined by his company and noted his relationships with these two clients in developing ivesteent policy statements.Currently,Dilan manages the accounts of a large client base including those of his brother and sisterRecently, an IPO came to the market which Dilan believed to be a suitable investment for many of his clients including his sister.HoweverDilan did not receive the total amount of shares that he requested in this IPO.In allocating the IPO shares that he received among clients, Dilan purposely decided not to allocate any this sister to avoid any appearance of a conflict of interest. Referring to the CFA standard of professional conducts applicable in this scenario, explain whether Dilan was in violation of that standard.