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We examine trading activity around insider transactions on the Toronto Stock Exchange and find evidence that some traders mimic insider positions. Our unique data set allows us to establish a direct connection between insiders, their brokerages, and the brokerages' other clients. The findings are consistent with the possibility that some brokerages tip their clients about insider trades. Insiders in our sample have good timing; returns are usually positive (negative) after insider purchases (sales). Insiders' good timing translates to the mimicking transactions, which appear to be profitable net of trading costs. Evidence consistent with tipping is observed mainly for smaller independent brokerages. History: Accepted by Brad Barber, finance. Funding: The authors acknowledge financial support from the Social Sciences and Humanities Research Council of Canada, Canada Research Chairs Program, Canada Foundation for Innovation, and the Ontario Research Fund. Keywords: insider trading * broker * tipping, 1. Introduction Active investors in securities markets continuously seek new information to boost their investment performance. Although stock markets are fairly efficient, it is generally accepted that price-relevant nonpublic information [...]