nonpublic nonmaterial information

If we received nonpublic information that is non-material by itself, but if we combine it with our analysis it becomes a material information, does this violates the ethics regulations?

Mosaic Theory.

no. mosaic theory says its ok.

I remember taking two different practise exams on schweser book 6, and they gave contradicting answers on this question. I just wanna be sure should it come out in the actual test