Please explain this in details

What limits should there be on insider trading?In the USA, Pete Rose was a popular baseball player, and then manager, who was punished for betting on his own team to win.Should Pete Rose be allowed to profit from betting on the success of a team he managed?Should Pete Rose be punished more harshly if he profited from betting on the failure of a team he managed?

• In the Enron case, several managers sold all their Enron stock about an hour before it became public knowledge that the company was not worth as much as everyone thought. Should a manager be punished for acting prudently based on knowledge they have discovered honestly only because the general public does not have that knowledge?
• Should managers be required to discloseprivate information they have that might influence the investment decisions of the public?Also, address the question of timing about the dissemination of information: is it enough to share information on a public website or should a formal press conference be required?