Insider information is ”information of a precise nature, which has not been made public, relating, directly or indirectly, to one or more issuers or to one or more financial instruments, and which, if it were made public, would be likely to have a significant effect on the prices of those financial instruments or on the price of related derivative financial instruments” (MAR Art. 7).
Information is likely to have significant price impact if a ”reasonable investor” would use it as part of its investment decision. In assessing what may constitute inside information, the following factors may be considered:

Information regarding an event is already classified as an event when the event has actual prospects of being realized. The following may include inside information:


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