Tim Curran, CFA and portfolio manager for a large pension fund management company is waiting for a taxi when he sees Kelly Slater, CEO of Board Technology, (a small software company) walk by with Mark Occy, CFO of Rainbow Inc., (a larger rival software company). Tim recognizes the two and observes them talking amiably and shake hands. Then, he overhears Kelly say to Mark, We look forward to being bought by your firm. Tim can hardly believe his ears and immediately gets on his cell phone and tells his broker to buy 100,000 shares of Board Technology. Based on the information above, has Tim committed any ethical violations?

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