A “Connected Person” according to the SEBI Regulations, 1992 is defined as
a. A company under the same management
b. A merchant banker or a share transfer agent or a broker
c. An employee of a public financial institution
d. The company’s banker
e. All of the above
To safeguard the interests of shareholders, the Securities and Exchange Board of India or SEBI has been created which overlooks all activity going on in the stock markets and also has jurisdiction over off market activities by companies that directly results in a change in the valuation of their stock and their shareholding pattern.
Insider trading refers to the transactions of shares of a company by people who are privy to information that is not available to the general public.
The [Prohibition of] Insider Trading Regulations, 1992 deems all share market transactions by "connected" persons as insider trading. Connected persons can refer to the director of a company, an employee of the company or any person or entity that has a business relationship with the company and access to price sensitive information in the last six months before the incident of insider trading occurred.
The correct option in the question is option E, all of the above.