12 Jeremy Bay, CFA, is a wealth manager. His client, Laura Nam, requests that Bay buy a risky stock for her. The risk level of the stock is not consistent with Nam's risk tolerance as documented in her IPS. Bay discusses with Nam his concerns about adding the stock to her portfolio. Nam acknowledges the discussion and insists on the stock purchase regardless. Bay purchases the stock for Nam. One week later, the stock decreases significantly in value.

Has Bay violated the Standard relating to suitability?