What is a general defense against insider dealing?

Providing information that was already disclosed serves as a general defense against insider dealing because it indicates that the trader did not rely on any non-public, material information when executing a transaction. Insider dealing is primarily concerned with the misuse of confidential information that can significantly affect the market price of a security. If an individual trades based on information that is accessible to the public, their actions do not violate insider trading regulations since all market participants have access to that same information. Disclosure of information means it is no longer considered "inside," thus absolving the trader of the charges related to insider dealing.

Using the other options does not provide a valid defense in the context of insider dealing. Claiming unawareness of the market would not change the fact that a party engaged in a transaction based on non-public information. Expecting to gain significantly from a transaction does not excuse the act of insider trading; it highlights the intent to profit, which is often a focus of regulatory scrutiny. Demonstrating insider knowledge directly contradicts the principles of insider dealing, as it suggests the individual knowingly acted on information that was not available to the public.