respond to Thomas using simple words and sentences. write a 9 sentences response and ask a good question at the end.

Hello Class, Insider trading refers to the illegal act of buying or selling stocks or securities based on material, non-public information. This activity gives an unfair advantage to those with insider knowledge and erodes trust in the financial markets, leaving everyday investors at a disadvantage. By undermining the principle of market fairness, insider trading disrupts economic integrity and harms society as a whole. The statute typically violated in insider trading cases is Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, which prohibits fraudulent practices in the buying or selling of securities. For this discussion, | am focusing on the insider trading case of SEC v. Brian Wong and Chris Salamone (https://www.sec.govews/press-release/ 2022-94). This case, brought by the SEC in 2022, involved Brian Wong, a former employee of Infinera Corporation, and his friend Chris Salamone. Wong provided Salamone with material, non-public information about Infinera's poor quarterly financial performance before the information was made public. Armed with this insider knowledge, Salamone traded Infinera stock and tipped off another friend, making about $112,000 in total profits between them. The individuals harmed in this case were ordinary investors who traded on public information and unknowingly suffered losses due to artificially skewed stock prices caused by the illicit trades. Wong and Salamone operated under an egoistic ethical framework, prioritizing personal financial gains over legal and ethical standards, showing a deliberate disregard for their obligations to fairness and honesty. The case was resolved when the SEC filed charges against both Wong and Salamone, and they agreed to settle the case. They paid combined penalties totaling over $280,000, including the return of illicit gains, interest, and civil fines. | believe the resolution was fair, as the penalties exceeded the illegal profits, creating a deterrent effect against similar violations. However, | advocate for ongoing education and stricter monitoring within companies to prevent such misconduct in the future. This ensures the market remains fair for all participants. U.S. Securities and Exchange Commission. (2022, May 17). SEC charges company and former CEO with misleading investors about sale of COVID-19 test kits. U.S. Securities and Exchange Commission. Retrieved from https://www.sec.govews/press-release/ 2022-94