Insider Trading and Ethical Standards

As an investment advisor at a prominent firm, you receive confidential information about a company that is planning to release a major product. You discuss the potential implications of this information with a close friend who is not an investor or affiliated with your firm but who works in marketing. Shortly after your conversation, your friend suggests that he might invest in the company's stock before the public announcement of the product.

Which of the following actions, if any, would constitute a violation of the CFA Institute Code of Ethics and Standards of Professional Conduct regarding integrity and market manipulation?