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For purposes of applying the rule against insider trading, should ''insider'' include only corporate officers, their families, and people to whom they sell inside information,
For purposes of applying the rule against insider trading, should ''insider'' include only corporate officers, their families, and people to whom they sell inside information, or should it include anyone who in fact possesses inside information? Why might the expanded definition be extremely costly, quite apart from administrative and enforcement costs? Explain your answer.
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