Mariana Parra, CFA, is an investment analyst. After consulting industry specialists, Parra believes oil prices will become less volatile over the coming months. Parra's colleague, Jeremy Fallon, constructs a statistical model of oil prices, including extremely positive and negative scenarios. Parra understands the model well and relies on it for her analysis. Parra then recommends an options strategy to clients to take advantage of expected lower volatility. Within a month, clients who followed the recommendation suffer large losses due to an unforeseen event.

Did Parra's actions violate the Standards?