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Your sister works as a secretary for a company. She tells you that the company is going to merge with its major competitor. You look

Your sister works as a secretary for a company. She tells you that the company is going to merge with its major competitor. You look on the Internet and there are no stories about it in the financial press. You buy stock in both companies. You have not committed insider trading because your sister in not an insider You have committed insider trading because the information is not public yet

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