(Bloomberg) -- Wall Street figures accused of insider trading are keeping a close eye on a U.S. Supreme Court appeal by a Chicago grocery wholesaler trying to overturn his conviction for buying stock based on information leaked by a relative.

The justices will consider their first insider-trading case since 1997 on Wednesday when they hear Bassam Yacoub Salman's case. It tests whether someone can be sent to prison for making trades when the insider who provided the tip wasn't looking to make any money.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.