Melvin Byrne, CFA, manages a portfolio for James Martin, a wealthy client. Martin's portfolio is well diversified with a slight tilt toward capital appreciation. Martin requires very little income from the portfolio. Recently, Martin's brother, Cliff, has become a client of Byrne. Byrne proceeds to invest Cliff's portfolio in a similar manner to James's portfolio based on the fact that both brothers have a similar lifestyle and are only two years apart in age. Which of the following statements is most likelycorrect? Byrne:

A.Violated the Code and Standards by knowingly creating a conflict of interest between James's and Cliff's portfolios.

B.Violated the Code and Standards by failing to determine Cliff's objectives and constraints prior to investing his portfolio.

C.Did not violate the Code and Standards.