Originally Posted by
AGAR-COSWORTH
Re: people working on oil exploration rigs and being the first to know whether or not a rig has struck oil - what aspect of the situation makes it illegal if they invest money as a consequence?
Does the law state that you must only invest money after a press release or something? I'm generally interested to know because I have heard of people in other industries speaking quite openly about doing similar things.
Yes. It would be illegal for, say, someone to act on information they've recieved from a friend at the company before it's publicly known by way of a news release. It's almost impossible to police though in my opinion, so it goes on a hell of a lot. How is someone supposed to prove that the person in question has spoken to someone in the know?