This is a fictitious example, so no stupid conclusions pleez.
Let's say I have some shares in company XXX, and I have a buddy's sister who also works there. So I have some info that company XXX will merge with YYY, so I run like a motherf.... to purchase a lot of YYY shares prior to the takeover.
Now, how can the stockmarket regulation agency (COB in France, for example), prove that I had any insider knowledge of this ?
UTA, wondering why he is thinking about that.