3 ms·

You are confusing two things. Buying/selling "insider info" (i.e. material non public info) is not illegal. Acting on such info CAN be illegal under certain cir

You are confusing two things. Buying/selling "insider info" (i.e. material non public info) is not illegal. Acting on such info CAN be illegal under certain circumstances, but even that is super difficult to prove. Why would buying/selling 0days be any different? It's the usage that determines legality. Why should buying an exploit to permit jailbreaking be illegal? Or to permit unlocking a device (presuming local laws allow).

fauigerzigerk 9y ago
>Buying/selling "insider info" (i.e. material non public info) is not illegal. I doubt that. If I had non-public information that could materially impact the price of a company's stock, I would not expect to get away with selling that information to anonymous buyers via some shady broker.
- ibn_ibid 9y ago
  You can if you are a member of Congress.
- bobcostas55 9y ago
  If you're not an insider yourself there's nothing illegal about it.
- qeternity 9y ago
  You should look at some of the recent failed insider trading prosecutions. If you sell the info and expect someone to trade on it, and thus you are benefiting from ill-gotten gains, then they MIGHT be able to prove conspiracy. My point is that if you have MNPI and I pay you for it, and that's the end of it, well that's not illegal. It may be a civil violation due to NDA or something, but that's different.
  - fauigerzigerk 9y ago
    I can imagine that what you're saying is true if there was no danger to the public. But if someone were to trade on the knowledge that a supplier had delivered faulty airbags to an auto manufacturer without telling that manufacturer, I doubt this would be looked at kindly by the courts. But I agree that the metaphor is not ideal. Selling 0day exploits to that broker is much worse. Any seller would have to have a reasonable expectation of aiding organised crime or terrorism.
weddpros 9y ago
Do you believe a company buying and selling insider info would be allowed? It's an amazing business idea! - people with insider info can use that info to get rich but without insider trading - targets of insider info can be coerced into buying the data to prevent selling to third parties - and of course we can trust the broker to never sell the data to third parties I'm being a bit sarcastic of course.

fauigerzigerk 9y ago

>Buying/selling "insider info" (i.e. material non public info) is not illegal. I doubt that. If I had non-public information that could materially impact the price of a company's stock, I would not expect to get away with selling that information to anonymous buyers via some shady broker.

ibn_ibid 9y ago
You can if you are a member of Congress.
bobcostas55 9y ago
If you're not an insider yourself there's nothing illegal about it.
qeternity 9y ago
You should look at some of the recent failed insider trading prosecutions. If you sell the info and expect someone to trade on it, and thus you are benefiting from ill-gotten gains, then they MIGHT be able to prove conspiracy. My point is that if you have MNPI and I pay you for it, and that's the end of it, well that's not illegal. It may be a civil violation due to NDA or something, but that's different.
- fauigerzigerk 9y ago
  I can imagine that what you're saying is true if there was no danger to the public. But if someone were to trade on the knowledge that a supplier had delivered faulty airbags to an auto manufacturer without telling that manufacturer, I doubt this would be looked at kindly by the courts. But I agree that the metaphor is not ideal. Selling 0day exploits to that broker is much worse. Any seller would have to have a reasonable expectation of aiding organised crime or terrorism.

weddpros 9y ago

Do you believe a company buying and selling insider info would be allowed? It's an amazing business idea! - people with insider info can use that info to get rich but without insider trading - targets of insider info can be coerced into buying the data to prevent selling to third parties - and of course we can trust the broker to never sell the data to third parties I'm being a bit sarcastic of course.