Read the scenario and answer the questions that follow. Your paper should be 100

Read the scenario and answer the questions that follow. Your paper should be 1000-1100 words, double-spaced, in 12-point font, and with 1-inch margins (APA format). Cite all sources you use APA style.
Megan Mensa is a highly experienced attorney specializing in mergers and acquisitions at the law firm “Ford, Mackay & Hudson, LLP,” and an Adjunct Professor teaching securities law at a popular university in New Jersey. She had completed over fifty mergers and acquisitions in her 25 years of legal practice. Her law firm was retained by Drew Pharmaceuticals, Inc. to help structure its acquisition of Package Corporation, which supplies Drew Pharmaceuticals with containers for its medications. Drew Pharmaceuticals is a well-established publicly held corporation in New Jersey that manufactures life-saving medications and made over $15 billion in before-tax profits last year. Megan was the attorney assigned to complete the merger, during which she received confidential documents and information from both corporations. Unbeknownst to her law firm and the executives of both corporations, Megan had embezzled over $1 million from her law firm. Using the confidential information about the merger, Megan bought stocks in both corporations and sold them after the news became public, making $9,000,000. However, before she could replace the funds, her law firm’s independent auditors uncovered the fraud. As a result of an investigation undertaken by Ford, Mackay & Hudson, LLP, Megan’s actions were reported to the Securities and Exchange Commission (SEC), which opened its own investigation into securities fraud.
Megan argues that she cannot be charged with any securities-related offenses, including insider trading under the SEC’s laws, regulations, or rules, because she is not an employee of either corporation. What is your opinion on Megan’s argument? Explain your answer.
If Megan could be charged under a law, regulation, or rule of the SEC, what is the law, regulation, or rule under which she could be charged? If you believe the SEC does not have a law to cover Megan’s actions in the scenario, would you advise congress to enact such a law? Please explain.
Is Megan violating any ethical principle considering her actions and her role as an attorney and adjunct professor of securities law, regardless of whether she can be charged with securities fraud?
From an accounting perspective, what measures could have been taken to prevent or detect Megan’s embezzlement activities? How can auditors and regulators better ensure the integrity and transparency of financial reporting in situations like this?