Personal Investments and Ethical Compliance

John is a financial analyst at an investment firm that manages assets on behalf of clients. Recently, he purchased stock in a company that is a direct competitor of one of the firm's clients, and he did so without informing his employer or the clients. This investment has now raised concerns about potential conflicts of interest and the integrity of his research. Considering the CFA Institute's Research Objectivity Standards, particularly regarding personal investments, what action should John take to ensure compliance with ethical standards?