2 ms·

Had insider trading training, and yes, that's the gist of it. If you know or presume that the information is material (makes a difference) and not public, it's

• tripletao 3y ago
  Roughly, it's illegal only if you have some duty not to trade on it. If you acquired the information without misappropriating it (like overhearing it from strangers in a normal public bar), then you're free to trade. https://corpgov.law.harvard.edu/2017/01/18/insider-trading-law-after-salman/ https://corpgov.law.harvard.edu/2017/01/18/insider-trading-l... There's no reason for normal corporate training to discuss that element, because an employee who trades their employer's stock based on MNPI has near-certainly misappropriated it. The question of whether a non-employee has misappropriated information is much more complex, though.
• frognumber 3y ago
  Training is designed to protect the corporation, not to provide accurate lega ladvice. That's true of most corporate trainings, for that matter, be that bribes / corruption, harassment, discrimination, or whatnot. Corporations want employees very far from the line. That's the right way to run them. If you want more nuance, talk to a lawyer or read case law. Generally, insider trading requires something along the lines of a fiduciary duty to keep the information secret, albeit a very weak one. I'm not going to slice that line, but you see references in-thread.