Ethical Dilemma of Insider Information

Jordan is a portfolio manager with a leading investment firm, known for its high ethical standards and accountability in capital markets. Recently, he came across non-public information regarding a potential merger that would significantly alter the stock price of Company XYZ. Understanding his fiduciary responsibilities, Jordan faces a dilemma on how to act on this information.

He contemplates sharing this information with a select group of high-net-worth clients who have raised inquiries about investing in Company XYZ. However, he is aware that this could potentially violate the CFA Institute's Code of Ethics concerning the misuse of material non-public information.

Considering these circumstances, Jordan is deciding whether to proceed with sharing the information or to wait until public disclosure is made.