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.

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.

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