Mr Axe, one of the directors of XYZ Ltd, knew that bonus shares were to be announced in the next meeting and he expected the price to rise. He bought 10000 shares from the stock market. By the end of few months, price rose by 19. He sold his shares and made huge profit.
(i) Name the act of Mr Axe.
(ii) Is it permitted?
(Hi) What values are lacking in him?
(i) Mr Axe is indulged in insider trading.
(ii) Insider trading is illegal and is not permitted.
(iii) The values that Mr Axe lacks are:
(a) Honesty.
(b) Integrity.
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