The question below consists of a set of labelled sentences. These sentences, when properly sequenced form a coherent paragraph. Select the most logical order of sentences from among the options.

P: While it is good to see SEBI taking a serious view of leaks and initiating suo motu action, bringing the perpetrators to book through such old-fashioned methods 0may be an uphill task.
Q: But recent episodes of suspected insider trading through WhatsApp groups, in which analysts shared prescient tip-offs about upcoming results for top listed companies, reveals that the framework remains porous.
R: The Ministry of Corporate Affairs and the Securities Exchange Board of India (SEBI) have lately redoubled their efforts to put in place a water-tight governance framework for listed firms.
S: Initiating a probe into this episode, SEBI has interrogated analysts, conducted raids on stock brokers and deployed search-and-seizure powers to confiscate laptops and mobile phones.

Insider trading is related to

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select ‘No Error’.

When the business is ran smoothly (1)/ directors are more than happy to pick an experienced insider, (2)/ who will continue along the present path. (3)/ No error (4)

What is insider trading and why is it illegal?