CFA Standard II

if its disclosure wouldn't have any impact on the security

if it is important for making an investment decisions by investors

if it comes from a reliable source

if its disclosure would have an impact on the price

it has been disseminated to investors in general

it has been disseminated to analysts, selected group of investors

it has been available to the marketplace in general

transactions that deceive or would be likely to mislead market participants

spreading false rumors to induce trading by others

the dissemination important public information

instances where a member and candidate knew or should have known that his or her actions could affect the pricing of a security