According to the Supreme Court
A) even if you are not an insider, you can be guilty of insider trading if you misappropriate sensitive information.
B) anyone buying/selling stock based on nonpublic information is guilty of inside trading.
C) insider trading violates the interstate commerce clause of the Constitution.
D) it should be left up to the company, not the government, to decide whether or not to prohibit insider trading.

Question

Quizplus · Accepted Answer

The Supreme Court has ruled that individuals can be guilty of insider trading even if they are not technically insiders themselves, but obtain nonpublic information through misappropriation or breach of a fiduciary duty. This ruling expands the scope of insider trading beyond just those who are insiders within a company.