What constitutes insider dealing?

Insider dealing refers specifically to the act of trading stocks or other securities based on material non-public information about a company. This type of information is not available to the public and can provide an unfair advantage to those who possess it. Therefore, making a profit from non-public information directly aligns with the definition of insider dealing.

In contrast, trading based on publicly available information, speculating on market trends, or engaging in insider trading that is ethically driven do not meet the legal definition of insider dealing. Publicly available information can be accessed by all investors, making it fair game for trading, while speculation on market trends involves predictions based solely on general information in the marketplace. Additionally, the notion of insider trading being ethically driven does not negate the illegal nature of trading on non-public information; legality hinges on the information's availability rather than the trader's ethical stance.