Securities Exchange Act — 15 USC Sec. 10(b) and 20— - Rule 10b-5(a) — 17 C.F.R. Sec. 240.10b-— - Insider Trading — Private-Plaintiff Version is a federal law that prohibits the use of material, non-public information for the purpose of buying or selling securities. This protection applies to all investors, regardless of their status as insiders or outsiders. The law also prohibits fraudulent practices in the securities markets, including misrepresentation, manipulation, and deceptive practices. There are two types of Securities Exchange Act — 15 USC Sec. 10(b) and 20— - Rule 10b-5(a) — 17 C.F.R. Sec. 240.10b-— - Insider Trading — Private-Plaintiff Version. The first type is the public-plaintiff version, which applies when a plaintiff brings a private action. This type of action is typically brought by an investor who has suffered a financial loss as a result of a violation of the Act. The second type is the private-plaintiff version, which applies when a private plaintiff brings a claim against a defendant who has allegedly violated the Act. This type of action is typically brought by an individual investor. In either case, the plaintiff must prove that the defendant engaged in insider trading and that the plaintiff suffered a financial loss as a result.