4 ms·
In a nutshell, you may trade on privileged non-public information provided that you do not either: 1) compensate another party for this information 2) directly
by alfalfasprout 10y ago
In a nutshell, you may trade on privileged non-public information provided that you do not either:
1) compensate another party for this information
2) directly work for either the company itself and are the one revealing the information
3) are acting in an advisory role to the company (major investors sometimes fall in this hole)
If you're at a bar and happen to overhear privileged information, you don't work at that company and aren't a major stakeholder/advisor... then that's totally OK. You may get hassled by the SEC... but technically it's kosher.