# Insider Trading, Reg FD, and Why Markets Have Rules

Page: https://stenobird.com/podcast/money-lessons-with-andrew-temte-phd-cfa-6946211/insider-trading-reg-fd-and-why-markets-have-rules
Text version: https://stenobird.com/podcast/money-lessons-with-andrew-temte-phd-cfa-6946211/insider-trading-reg-fd-and-why-markets-have-rules.md
Podcast: [Money Lessons with Andrew Temte, PhD, CFA](https://stenobird.com/podcast/money-lessons-with-andrew-temte-phd-cfa-6946211)
Published: 2026-06-13T10:00:00+00:00
Episode link: https://saturdaymorningmuse.podbean.com/e/insider-trading-reg-fd-and-why-markets-have-rules/
Audio file: https://mcdn.podbean.com/mf/web/rnmzgp7p9kmkib5g/ML_613267g92r.mp3
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JSON: https://stenobird.com/v1/public/podcasts/money-lessons-with-andrew-temte-phd-cfa-6946211/episodes/insider-trading-reg-fd-and-why-markets-have-rules
Duration seconds: 744

## Resource

In this episode of Money Lessons, Andy explores information asymmetry—the gap between what some market participants know and what others know—and the rules that try to keep that gap from getting too wide. He walks through the structural advantages built into the architecture of the market itself, the meaningful distinction between buy-side and sell-side analysts that financial pundits throw around without explanation, and the legal line that separates productive research from criminal insider trading. Andy then unpacks Regulation Fair Disclosure—the SEC rule adopted in 2000 that ended the worst of selective disclosure to favored Wall Street clients. The closing message: the retail investor is structurally on the wrong side of many information gaps, and the most reliable response is to focus on what you can actually control. AndrewTemte.com

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## Transcript

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