Jason Thompson serves as an investment banker at Morgan Barney Bank and has access to nonpublic information related to the merger and acquisition plans of approximately 50 corporate clients. Jason contacts his close friend, Melissa Carter, an attorney for Sidley Emery, LLP, to discuss how to use this client data to profit in securities trading. Melissa agrees to (1) study the documents Jason provides, (2) execute trades that she and Jason approve, and (3) reimburse Jason for 50% of the profits generated. In a three-year period, Melissa and Jason split approximately $4 million in profits. Instructions 1. Discuss the application of Section 10(b) and Rule 10b-5 to Jason activities. 2. How would the application of Section 10(b) and Rule 10b-5 to Melissa's activities differ