Question 1 of 30
Anya Sharma, a wealth advisor at a reputable firm in Toronto, has cultivated a strong relationship with her client, Mr. Jean-Pierre Dubois, a senior executive at \"PharmaCorp,\" a publicly traded pharmaceutical company. During a routine portfolio review, Anya notices a series of unusual and substantial stock purchases of PharmaCorp shares by Mr. Dubois just days before a major positive announcement regarding a breakthrough drug trial. Anya also recalls Mr. Dubois mentioning in passing during a previous meeting that he had \"high confidence\" in the upcoming trial results. Anya suspects that Mr. Dubois may be engaging in insider trading, which is a violation of securities laws and regulations in Canada. Considering Anya\'s ethical obligations as a wealth advisor under the Investment Industry Regulatory Organization of Canada (IIROC) rules and her fiduciary duty to her client, what is the MOST appropriate course of action for Anya to take in this situation?
Report the potential insider trading activity to the relevant regulatory authority, such as the provincial securities commission, despite the confidentiality owed to Mr. Dubois.
Discreetly advise Mr. Dubois to immediately cease any further transactions in PharmaCorp shares and closely monitor his account for any similar activity in the future, without reporting the incident.
Cease acting for Mr. Dubois immediately, citing a conflict of interest, without disclosing the specific reasons to protect his privacy and avoid potential legal repercussions.
Ignore the potential insider trading, as Anya's primary duty is to act in the best financial interest of her client, and reporting him could damage their relationship and his financial well-being.

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