Alice Chan, CFA, a portfolio manager, does comprehensive research and concludes that First Automobile Company's (FAC) stock is suitable for all of her firm's clients. To avoid potential conflict, Chan buys FAC's stock for other clients first and then for her sister's fee-paying account in which she has no beneficial interest. She makes no disclosure to clients about her sister's account. The price of FAC's stock declines significantly after three months, causing substantial losses to all her clients. Chan has violated the Standard relating to: