Smart Money is a stock brokerage firm that specializes in buying and selling stocks on behalf of client accounts. Several brokers of Smart Money have recently been placing both a bid and an ask orders on the same security about two hours before the market opens for trading. This allows their trades to be one of the first ones made after the markets open. Just before the markets open, these brokers would then cancel one of the orders in anticipation that the market would move in favour of the other order. Which component of the Asset Manager Code of Professional Conduct has Smart Money violated?

Group of answer choices

Investment Process and Actions.

Performance and Valuation.

Loyalty to Clients.

Risk Management, Compliance, and Support.

Disclosures.