# Unlawful disclosure of inside information

# Definition

unlawful disclosure of inside information arises where a person possesses inside information and discloses that information to any other person, except where the disclosure is made in the normal exercise of an employment, a profession or duties

# Context

Individual may trade on their personal accounts following receipt of insider information or confidential information to front run orders.

# Surveillance

Effective implementation of surveillance alerts for unlawful disclosure of inside information requires capturing the following trade data:

• communications data

• reference data for insider information

# Reference

Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street

A great account of the largest insider trading investigation in the history of Wall Street.

• Nominated for the FT/McKinsey Business Book of the Year
• Nominated for the Carnegie Medal for Excellence in Nonfiction
• Amazon Top 5 Business Books of 2017

# Risk taxonomy

# Related risks

• insider dealing

# Derived risks

• sharing-confidential-information

# Regulatory source

REGULATION (EU) No 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL, article 10