In the most conservative definition, anything that communicates materially non-public information to you can potentially be a cause for insider trading. It is

In the most conservative definition, anything that communicates materially non-public information to you can potentially be a cause for insider trading. It is fun to think about what the most minimal case could be. Ask the CEO what he thinks of revenue next quarter. If he smiles, starts to speak, then looks at the CFO and realizes he should stop, is that insider information? It probably is by some people's definition and he communicated no words.