This document discusses the concept of insider trading, providing examples and outlining the key dimensions. Insider trading involves someone connected to a company trading securities based on non-public information for personal gain at the expense of others. It gives the example of HLL purchasing shares in BBLIL weeks before announcing their merger. Insider trading undermines market integrity and investor confidence. While unethical, it is also illegal in most countries as it involves the breach of trust and unfair exploitation of information asymmetries.