What do you mean by insider trading?

Insider trading refers to the practice of buying or selling securities (such as stocks, bonds, or options) by individuals who have access to non-public information about the company or its securities. This non-public information is not available to the general public and could be material to the investment decision of the security. 

Insider trading is illegal in most countries and is considered a form of fraud.Insiders, such as company directors, officers, and employees, have a legal and ethical responsibility to not use the non-public information they have access to for personal gain. They also have a responsibility to disclose any trades they make, even if they don't use non-public information.

Insider trading can also include "tipping" or sharing non-public information with others who are not insiders, but who trade on the information. This is also illegal and considered a form of insider trading.Insider trading is a serious violation of securities laws and can lead to severe penalties, including fines and imprisonment.

Regulators such as the Securities and Exchange Commission (SEC) in the United States and the Financial Conduct Authority (FCA) in the United Kingdom closely monitor insider trading activities and take action against individuals and companies found to be involved in insider trading.