Bill and Mark are trustees of a trust established by Shawn in 2006 under which they are directed to hold the trust property on trust for Fran for life. thereafter for her children, Hani and Hilda. The trust property comprises RM700,000 in a fixed deposit account in RHB Bank, 50,000 shares in C&M Bhd, 100,000 shares in Tunas Bhd and 200 acres of timber land in Raub, Pahang. An investment clause authorizes the trustees to invest only in Malaysian government securities and public companies listed on the Kuala Lumpur Stock Exchange. The following events have occurred.

1) In January 2008, with the oral consent of Fran, the trustees sold the shares in C&M Bhd to themselves at a market value ofand reinvested the capital in Terus Maju Bhd, a speculative propeny development company.

Please help me to identify all the issues that can be raised in this issue and need little bit explanation for each issue.