It may be a contrived definition of ‘insider information’ in an attempt to concoct a controversy. Like a company buying it’s own shares based on its internal knowledge of its condition, or employees buying share options in a scheme for their company. If it was actually an issue I expect it would have been stated instead of coyly implied. Its true not all market participants have access to the same information all the time. The point I made is that this can’t be so skewed or biased that it’s an obstacle to investment.