Helen Is the Receptionist for First Well Ltd

question 29

Multiple Choice

Helen is the receptionist for First Well Ltd., a junior oil and gas company. On Thursday at lunch she told her friend Alice that a takeover bid had arrived by courier that morning. Alice purchased First Well Ltd. stock. How is the share purchase impacted by the Securities Act?

• A) Alice's share purchase is allowed.
• B) Alice is an insider and must report the purchase within 10 days.
• C) Alice and Helen are both insiders and must report the purchase within 10 days.
• D) Alice is a tippee and liable for prosecution.
• E) Alice is a tippee and Helen is a tipper and both are liable for prosecution.

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