Chase Basanta, CFA, works for Skogland Investment. Skogland employees must receive prior clearance of their personal investments in accordance with Skogland compliance procedures. To obtain prior clearance, Skogland employees must provide a written request identifying the security to be purchased, its quantity, and the name of the broker through which the transaction will be made. Pre cleared transactions are approved only for that trading day. Basanta received prior clearance for the transactions indicated below.

Security A. Prior clearance for 100 shares. Broker: Simple Trade
Security B. Prior clearance for 150 shares. Broker: Simple Trade

Two days after Basanta received prior clearance, the price of Stock B had decreased, so Basanta decided to purchase 250 shares of Stock B only. In his decision to purchase 250 shares of Stock B only, did Basanta violate any CFA Institute Standards of Professional Conduct?

Explanation: Prior-clearance processes guard against potential and actual conflicts of interest; members are required to abide by their employer's compliance procedures.