director of a company revealed to his friend who is a broker, information about the bonus ssue that the company is going to make shortly. The broker purchased a huge amount of the ompany securities and sold them off at a higher price after the bonus issue was made. He ence made a huge profit which he shared with his director friend as gratitude. (i) Which malpractice is being highlighted here? (ii) Which function of SEBI prohibits such practise?
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I) insider trading ii) regulatory function
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