Question 4 Zhang is working as an office assistant in Invest PLC. to help pay for his University. He transcribes a memo from the Director to Illan, the manager of a high-profile venture capital fund stating explaining that the Director had just fielded a call from Cheep Phone PLC. asking for advice on an impending merger with Popular Phone Co. Cheep Phone PLC.'s share prices are currently very low, but when news of the merger is released the share prices would inevitably skyrocket. Zhang has some extra money and decides to quickly invest 10,000 into Cheep Phone PLC. When the news breaks the share price goes from 10 a share to 1000 a share. As legal counsel for Invest PLC. you have been asked to advise Zhang whether he violated any civil laws, or committed and criminal offences. You have also been asked to include a brief explanation of why these insider dealing rules are important for the proper functioning of markets. (100 marks)