Tri3A, 2021 SECTION A: Ethics in the Investment Industry (12 marks) Please type your answers in this exam paper, blank space is left under each question for you to write your answer.- t The following information assumes that the CFA Institute Code of Ethics and Standards are applicable. - + 1. Maria, a portfolio manager at AHA Investments, manages the retirement account established with the firm by her parents. Whenever IPOs become available, she first allocates shares to all her other clients for whom the investment is appropriate; only then does she place any remaining portion in her parents' account, if the issue is appropriate for them. She has adopted this procedure so that no one can accuse her of favouring her parents. You are required to establish what is unethical and which Standard is violated. + [3 marks]