What constitutes "insider trading" under Utah law?

The definition of "insider trading" under Utah law encompasses the buying or selling of securities based on material non-public information. This means that if an individual has access to confidential, significant information about a company that has not yet been released to the public and uses that information to make trading decisions, that behavior constitutes insider trading. This is a violation of securities laws because it undermines the integrity of the market, providing an unfair advantage to the insider over other investors who do not have access to the same information.

Material information is defined as information that could influence an investor's decision to buy or sell securities. It is considered non-public until officially disclosed, making trading on such information illegal. Consequently, option C accurately reflects this definition, emphasizing the core principle behind insider trading regulations, which is to protect market integrity and ensure a level playing field for all investors.