Question: QUESTION 21 Refer to Fact Pattern 42-1B. Under the Securities Exchange Act of 1934, Geoff is most likely a. not liable because Geoff is only

QUESTION 21 Refer to Fact Pattern 42-1B. Under the Securities Exchange Act of 1934, Geoff is most likely a. not liable because Geoff is only a tippee, not a tipper. b. not liable because Geoff is too far down the chain of disclosure. c. not liable because Geoff traded on the basis of a material fact. d. liable for insider trading.

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