Anyone who has access to or receives inside information of a nonpublic nature and trades on it for personal gain can be liable under SEC Rule 10b-5.

Name: Anyone who has access to or receives inside information of a nonpublic nature and trades on it for personal gain can be liable under SEC Rule 10b-5.
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SEC Rule 10b-5 prohibits trading on the basis of material, nonpublic information, making anyone who does so in violation of the rule potentially liable for insider trading.

Anyone Who Has Access to or Receives Inside Information of a Nonpublic