Did insider trading just change forever?

The future of insider trading is here, and it will probably be harder to prosecute. A federal appeals court decision Wednesday significantly redefined insider trading and may have altered the course of all further enforcement, experts said. The court’s findings, which overturned convictions for former hedge fund managers Todd Newman and Anthony Chiasson, place a much higher burden on prosecutors and could even change how business is done on Wall Street, legal experts said. “The stunning decision … has the potential to rewrite the book on insider trading, while also dealing a body blow” to Justice Department and the Securities and Exchange Commission efforts, former assistant U.S. attorney Patrick Cotter said in a statement to CNBC. More on CNBC here.