Genuinely curious about how it works in Sweden, so I have a question.

Imagine a swedish person overhearing a conversation at a restaurant (in Sweden) between two people (insiders to a particular public company that is also located in Sweden) sitting at a different table. That conversation contained non-public material information about the company those two people work for. The swedish person who overheard the insider conversation makes a successful trade that makes them profit (using that information).

Would this count as insider trading in Sweden? Afaik (which I could be mistaken about), it wouldn't in the US.

I honestly don't know but I've had it explained to me that it is the acting on said information that would be considered an offence. Either way: if someone were to do this with an ordinary Joe amount of money, nothing would happen. But say you took out a second mortgage and moved $1M - then that could probably be considered suspect. Who knows what that means.

That is the case in the USA as well; the comment author was saying that maintaining friendship is considered an example of a received benefit in exchange for a tip. It's an arguable point, but does make some sense (plus arguing with the SEC is...hard!)

also, a side comment:

> But if, you hear rumors from multiple people in your network ...

I think this is pretty clearly not, in and of itself, evidence of insider trading, just an example of trading in a sector you follow closely.

However the first example in the article is one where the two companies had an alliance, and in that case a simple origin like "heard from various people in my network" would not help you. I have been part of an alliance of several large semiconductor manufacturers and ever meeting began with a reiteration of the Hart-Scott-Rodino (HSR) Act criteria and what kinds of topics and conversations were forbidden.

Same in the US; it's very carefully taught in big tech companies.

Now I'm trying to find citations about this use of "consideration", wonder if it's a Canadian term not US term.