To use or employ, in connection with the purchase or sale
of any security registered on a national securities
exchange or any security not so registered, or any
securities-based swap agreement (as defined in section
206B of the Gramm-Leach-Bliley Act), any manipulative or
deceptive device or contrivance in contravention of such
rules and regulations as the Commission may prescribe as
necessary or appropriate in the public interest or for the
protection of investors.
Note in particular the line "security not so registered".
Trading in private companies can be considered Insider Trading.