Definition
MNPI
Material Non-Public Information—confidential information that could impact a security's price if made public.
MNPI (Material Non-Public Information) refers to any information about a company that has not been publicly disclosed and would likely affect the stock price if released. Trading on MNPI constitutes insider trading and is illegal. During expert calls, compliance teams monitor for potential MNPI disclosure. Examples include unannounced earnings, pending mergers, major contract wins, or regulatory decisions. Investment firms maintain strict policies and training to prevent MNPI-based trading.