And when I thought that i was over with ethics…this comes up…
Q81 (Pg 178) …
Please explain to me the solution 
I got this one right first time.
It is one of the easy ones. Your wife’s account is practically your own beneficial account , isn’t it?
If so can you treat yourself to the IPO’s in preference over anybody else when it concerns an oversubscribed IPO ? Obviously the answer is no , you cannot.
Would your answer be any different if instead of your wife’s account the q asks if it was your own account? Go from there
Thanks … But doesn’t the case say that the wife’s account is a discretionary client account . The reading mentions that we cannot disadvantage family accounts if they are clients.
this is where your own beneficial interest trumps over their rights. You can manage the investments of a close family member whose investments are not in your beneficial interest. In this case the answer could be different . We’re talking about financial not familial links
Got it!!! Appreciate ur help… Good luck