Which of the Following Is True Regarding Who May Be

Multiple Choice

Which of the following is true regarding who may be considered an insider under the Securities Exchange Act of 1934?

A) Only directors are considered insiders
B) Only employees are considered insiders
C) Any shareholder is considered an insider along with all directors and all employees
D) Directors, officers, and anyone who receives private information regarding the trading of securities may be considered insiders
E) Only directors, officers, and majority shareholders are considered insiders