I don't know much either, but here's another article that sheds more light.
http://abcnews.go.com/sections/busin...ng_020624.html Quote:
|
Insider trading is illegal when a person trades a stock while in possession of material non-public information in violation of a duty to withhold that information or refrain from trading, according to the Securities and Exchange Commission. In other words, if you have information that the public doesn't know about or you got such information from an inside source, it is illegal to trade on that information.
|