Insider trading restrictions limit communications and trading in mutual fund units when unpublished price sensitive information exists. Regulation 5B defines insider and connected person for mutual fund units, listing categories deemed connected (immediate relatives, sponsors, directors, service providers, intermediaries, bankers, and related entities). Insiders include anyone with access to unpublished price sensitive information (UPSI). The regulation prescribes that generally available information be disseminated non-discriminatorily, requires prompt publication of material information by asset management companies and trustees, and identifies examples of UPSI - accounting policy changes, material valuation shifts, redemption restrictions or winding up, segregated portfolios, swing pricing triggers, material liquidity changes, and material defaults in underlying securities.