4 ms·
Tipping is still illegal if you know the recipient intends to trade. The person who asked him for advice trusted him with material non-public information, if he
by burutthrow1234 3y ago
Tipping is still illegal if you know the recipient intends to trade. The person who asked him for advice trusted him with material non-public information, if he shares it and it gets traded on he's liable either way.
To be clear the person who asked for advice was not tipping because they had a reasonable expectation that he would obey securities law and not trade based on the information. They were asking for actual business advice.