No, but people can walk by your desk and see what you're working on. Or look in the conference room and see what's on the whiteboard.

Not doing that would be Security Malpractice.

In an M&A you do not use the names of actual companies, but code names - exactly for that reason. There is just a very limited amount of documents that actually mention the target company (on both sides, and tt the lawyers')

If there's anything on the whiteboard it's extremely easy to snap a pic and infer from context on what company it actually is.

But yes all these steps should be necessary to minimize risks.

and yet it still leaks out. That's why we have gov't watchdogs watching the trading.