在日常生活中，我们经常遇见tip表示小费或是提示，但其实在证券领域，tip还表示其他含义。

查阅Black’s Law Dictionary 9th Ed可知，tip作为名词的第一重含义为“a piece of special information; esp., in securities law, advance or inside information passed from one person to another”，即“特别信息；内部情报、内幕信息”。

下面通过Investopedia了解一下提供内幕信息（tipping）究竟是怎么回事。

Tipping is the act of providing material non-public information about a publicly traded company or a security to a person who is not authorized to have the information. As long as the information is accurate, tipping can produce huge profits for an investor who acts on it when performing a securities transaction.

提供内幕信息即将有关某一上市公司或某一证券的重大、非公开信息提供给无权获得该等信息之人。只要该等信息准确，获得该等信息的投资人进行证券交易时即可获得巨大利润。

Tipping can occur in person, by phone, through the mail, by email, or on the Internet. Tipping is illegal in these instances: the person who receives the inside information either knows or suspects that the tipper is breaching a fiduciary duty; the tipper gets some benefit from the tipping; the tipper passes on the tip with the expectation that the recipient will try to profit from it.

内幕信息可由本人亲自提供，也可通过电话、邮件、电子邮件或网络提供。就提供内幕信息而言，下述行为被视为违法行为：获取内幕信息之人知道或怀疑披露内幕信息之人违反了诚信义务；披露内幕信息之人从提供内幕信息这一行为获得某些利益；披露内幕信息之人之所以提供内幕信息是因为其希望获取内幕信息之人能够试图从中获取利益。

从上述描述中可看出，此处涉及两方，即披露内幕信息之人（tipper）和获取内幕信息之人（tippee）。

有关tipper的释义为“a person who is in a fiduciary relationship with a company that the person possesses material inside information about, and who selectively discloses that information for trading or other personal purposes”；

有关tippee的释义为“a person who acquires material nonpublic information from someone in a fiduciary relationship with the company to which that information pertains”。

查阅《元照英美法词典》可知，tipper被译为“不适当地披露内幕信息的人”，tippee被译为“不适当地获得内幕信息的人”

例句：

Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, on the basis of material, nonpublic information about the security. Insider trading violations may also include "tipping" such information, securities trading by the person "tipped," and securities trading by those who misappropriate such information.

非法内幕交易通常指在违反诚信义务或其他信任关系的情况下基于有关证券的重大、非公开信息买卖证券。就内幕交易而言，违法行为包括非法提供该等信息、不适当地获得内幕信息之人进行证券交易，以及滥用该等信息之人进行证券交易。

参考：

Black’s Law Dictionary 9th Ed；《元照英美法词典》；Investopedia；https://www.investor.gov/introduction-investing/investing-basics/glossary/insider-trading