“[T]he burgeoning business known as political intelligence…”
If you get an early head’s-up on an upcoming government policy change, it is either a crime or it’s not, depending whether an employee at a government agency told you or whether you got it from a congressional aide.
“Insider-Trading Probe Hits Wall in Capitol.” Wall Street Journal, November 21, 2013 A1 http://on.wsj.com/I7E2H2
Determining whether someone leaked confidential information “is probably the toughest and most challenging issue” says co-chief of SEC enforcement division. Or is it just better fact-gathering from publicly available information and better analysis?
Trading by congressional officials based on what they learned in their official duties is illegal. But tipping by them (i.e., telling others) may not be.
So, different rules inside the Beltway. Go figure.
