[Modernman]

And how would you describe getting information on a Federal drug disapproval from the head of the company and/or his wife before the public release of the info?

If I recall correctly, insider trading laws don't apply to this situation as she is not, technically speaking, an insider (she's not a corporate officer, board member etc.).

[CobaltBlue]

IIRC, you can be charged with trading on insider information even if you are not an insider. I seem to remember a case a few years ago where the office boy who copied the SEC filings was sneaking a copy to a friend, and they both got busted for trading using insider information.

Now that they upload it's not as easy to do.

I used to live across the street from the guy in charge of security at the Labor Department, who had a story about someone who used to tip off an accomplice before a key economic statistic was announced by the way he adjusted his Venetial blinds.