# Material Nonpublic Information

*Professional & Ethics — Finicade finance glossary*

Price-moving information the public doesn't yet have. Trading on it — insider trading — is illegal, because markets only work if everyone plays on roughly the same information.

**Also known as:** mnpi, insider information, material nonpublic info

**Related terms:** [Code of Ethics](https://finicade.com/glossary/code-of-ethics), [Fiduciary Duty](https://finicade.com/glossary/fiduciary-duty)

**Taught in:** Charter Climb — The Seven Standards

Source: https://finicade.com/glossary/material-nonpublic-information