15. Julia Stevens, CFA, works for TBL Investments (TBLI). The firm has no employee trading policy. Stevens observes that her colleague bought and sold GLT stock to exploit the difference in prices in different exchanges. Stevens fails to inform her firm's compliance department about her colleague's trading activity. Separately, for all client trades, TBLI requests that Stevens pay higher brokerage fees than she believes is justified to maintain good relationship with their primary broker. Due to a lack of sufficient benefit to clients, Stevens refuses to comply with her employer's request. Has Stevens violated the Standard relating to loyalty?