Summary. A new arrival to Wall Street, and former student-body president at NYU's Stern School of Business, was charged with insider trading. Bill Tsai, a 23- year-old analyst at RBC Capital Markets, was arrested and charged with criminal securities fraud. Authorities allege that Mr. Tsai earned about $99,000 by purchasing bullish options on Electronics for Imaging Inc. that rose in value after the company announced it would be acquired by a private equity firm. Classroom Application: There are many classic ethical dilemmas associated with insider trading (e.g., conflict of interestand unfair advantage). This article provides an opportunity for faculty and students to discuss what insider trading is as well as the ethical and legal issues associated with it. Questions: 1. There are many classic ethical dilemmas associated with insider trading such as conflict of interest and unfair advantage. In what ways does it appear that Mr. Tsai acted unethically in each of these arenas? 2. To what extent should Mr. Tsai's supervisor be held partially responsible for the alleged insider trading, if at all, given that Mr. Tsai was relatively new in his position, having only recently graduated from NYU? What about the responsibility of the firm itself for the actions of junior employees like Mr. Tsai? 3. The article mentions an interview published on NYU's website in 2017. In the interview Mr. Tsai said that he took his role as president of the NYU's student council very seriously."Like whatever I do, the title follows, "Mr. Tsai said in the interview. "And you have to be very aware that a spotlight is on you." This quote, and the alleged insider trading, seem to suggest that Mr. Tsai was ethical when the spot light was on him (.e., in a "high-vis" position) and not so much when he was not (i.e., a junior analyst). Is it easier to be ethical at the beginning of your career or when your more established in senior positions? Justify your