Insider information

Insider information is confidential information which, if made public, could significantly affect the price of securities or other financial instruments. It may concern financial results, transactions, restructurings, regulatory decisions or other material events. Swiss law prohibits exploiting such information for trading, recommending trades or disclosing it improperly. Issuers and regulated institutions use internal controls, restricted lists and disclosure procedures to prevent misuse. The concept is central to market integrity and applies regardless of whether the information was obtained directly or through intermediaries.