4 ms·
For something to be insider trading, one of the people involved has to have breached their fiduciary responsibilities. Low-level employees typically don't have
by bjl 8y ago
For something to be insider trading, one of the people involved has to have breached their fiduciary responsibilities. Low-level employees typically don't have any fiduciary responsibilities to their company, so the firm that collects information from them is under no obligation to make it public.
- davidmr 8y agoI'm not a lawyer, but this definition can't possibly be correct, can it? If you're a janitor and you come across a piece of paper or a conversation between bigwigs discussing a merger and sell it to a trader, the trader and the janitor can surely both be sent up the river for insider trading, right?