Ethical Decision-Making in Investment Analysis with Nonpublic Information

As a portfolio manager at an investment firm, you are responsible for overseeing a concentrated portfolio that holds significant positions in a technology company, TechCorp, which is on the cusp of releasing a groundbreaking product.

Recently, you attended a private investor conference where TechCorp’s CEO disclosed confidential information regarding the anticipated performance of the product and insights into future contracts with key clients. This information is not yet public and could significantly influence the stock price once released.

You have an ethical obligation to abide by the CFA Institute's Code of Ethics and Standards of Professional Conduct, particularly Standard II(A) regarding Material Nonpublic Information. You are faced with the decision of whether to adjust your firm's holdings in TechCorp based on the information you received.

Discuss the ethical considerations you must weigh in this scenario, reference the specific Standards from the CFA Institute's Code of Ethics and Standards of Professional Conduct that apply, and evaluate the possible actions you could take. Provide a well-reasoned argument for your final decision.