Insider Trading，指内部交易；内幕交易。

Insider Trading：the securities laws broadly prohibit fraudulent activities of any kind in connection with the offer,purchase,or sale of securities. These provisions are the basis for many types of disciplinary actions,including actions against fraudulent insider trading. Insider trading is illegal when a person trades a security while in possession of material nonpublic information in violation of a duty to withhold the information or refrain from trading.

对于与证券发行、销售或者购买相关的任何欺诈性行为，联邦证券法均予完全禁止。此类禁止性规定是许多惩罚性行为，包括针对欺诈性内部交易所采取的惩罚措施的行使依据。任何人在其掌握某项尚未公开的实质性信息时，违反对该信息的保密义务，或者违反因其掌握该信息而不得进行相关交易的义务，从事相关的内部证券交易，均属非法。

内幕交易是非法的，当一个人在拥有重要的非公开信息的情况下，违反了保留信息或避免交易的义务而进行证券交易。

相关法律法规：

《刑法》第一百八十条：

证券交易内幕信息的知情人员或者非法获取证券交易内幕信息的人员，在涉及证券的发行、交易或者其他对证券的价格有重大影响的信息尚未公开前，买入或者卖出该证券，或者泄露该信息，情节严重的，处五年以下有期徒刑或者拘役，并处或者单处违法所得一倍以上五倍以下罚金；情节特别严重的，处五年以上十年以下有期徒刑，并处违法所得一倍以上五倍以下罚金。

参考双语例句：

Insider trading means engaging in transactions in a company’s securities (for example, buying or selling a company’s stock), while aware of “material nonpublic information” about the company or its securities.

内幕交易是指在了解关于公司或其证券的“重大非公开信息”的情况下参与公司证券的交易（例如买卖公司股票）。

There are no other restrictions on the transfer of ordinary shares in the Company except: (1) certain restrictions may from time to time be imposed by laws and regulations (for example insider trading laws); (2) pursuant to the Company’s share dealing code whereby the Directors and certain employees of the Company require approval to deal in the Company’s shares; and (3) where a shareholder with at least a 0.25% interest in the Company’s issued share capital has been served with a disclosure notice and has failed to provide the Company with information concerning interests in those shares.

本公司普通股并无其他转让限制，惟在下列情况则除外：(1)法律及法规不时施加的若干限制（如内幕买卖法律）；(2)根据本公司的股份买卖守则，据此，本公司董事及若干僱员须获批准方可买卖本公司股份；及(3)拥有本公司已发行股本至少0.25%权益的股东已获送达披露通知，但未能向本公司提供有关该等股份权益的资料。

With regard to the fight against terrorism, the Republic of San Marino has adopted Law n. 28 of 26 February 2004, “Provisions on anti-terrorism, anti-money laundering and anti-insider trading”, which punishes anyone participating in terrorist acts or promoting, establishing, organizing, directing or financing associations that aim at perpetrating violent acts for the purpose of terrorism or, finally, providing participants in terrorist association with assistance or aid in any form.

关于反恐斗争，圣马力诺共和国于2004年2月28日通过了题为“关于反恐、反洗钱、反内线交易的规定”的第28号法，其中规定，任何人如参与恐怖主义行为或宣传、设立、组织、指挥或资助实施恐怖暴力行为的团体或为参与恐怖主义团体提供任何形式的援助或帮助，均受处罚。