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In the context of federal regulation of the purchase and sale of Securities, anyone who has knowledge of facts not available to the general public.

Insider information refers to knowledge about the financial status of a company that is obtained before the public obtains it, and which is usually known only by corporate officials or other insiders. The use of insider information in the purchase and sale of stock violates federal securities law.

Insider trading entails the purchase and sale of corporate shares by officers, directors, and stockholders who own more than 10 percent of the stock of a corporation listed on a national exchange (any association that provides facilities for the purchase and sale of securities, such as the New York Stock Exchange). Insider reports detailing such transactions must be submitted monthly to the Securities and Exchange Commission.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


n. someone who has a position in a business or stock brokerage, which allows him/her privy to confidential information (such as future changes in management, upcoming profit and loss reports, secret sales figures, and merger negotiations) which will affect the value of stocks or bonds. While there is nothing wrong with being an insider, use of the confidential information unavailable to the investing public in order to profit through sale or purchase of stocks or bonds is unethical and a crime under the Securities and Exchange Act. (See: insider trading)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
Seeking a solution to this puzzle, Lindbeck and Snower (1988) turn to the behaviour of labour market insiders because collective bargaining typically takes place between a union representing the employed workers (insiders) and firms.
Although the Chesterfield has significant historic meaning for the town, market insiders like Martin Nirschel, an agent with Sotheby's International Realty, say the hotel is unlikely to fly off the market.
Several Turkish mini-mills are deciding whether to stop production during the month of Ramadan and are evaluating their orderbooks for September rolling, market insiders said.
has plans to layoff 5% of its total workforce, according to market insiders. Forecasted drops in annual profits and unrealized notebook and motherboard shipment goals have been blamed for the reduction, expected to affect nearly 200 employees.
Cabernet Sauvignon prices in South Australia have already fallen by 15-30%, and market insiders expect the trend to continue, according to the report.
Market insiders tell me the source of such hope is international stock investors who have traditionally stepped into the market to window dress their existing portfolios.
Market insiders have long questioned Video Intl.'s privileged status in the ad market.
Other potential bidders include Financial Spreads, Oystertec, Man Group and ETrade, market insiders said.
But market insiders claimed yesterday that they would be "extremely surprised'' had Virt-X boss Antoinette Hunziker-Ebneter and Liffe chief Williamson not met to discuss whether a tie-up was possible.
Market insiders said most of the contracts were concluded by commodity futures companies for trading on their own accounts.
Market insiders said that although there were no accurate figures for current chocolate consumption in Asia, signs of recovery emerging in many economies should mean the worst is now over and sales should pick up again.
The Stock Analyst's Journal, Morningstar Fund Spy, and The Guest Room give readers market insiders' perspectives.