The U.S. Securities and Exchange Commission has barred two financial professionals from participating in the financial industry because of their involvement in an insider-trading scheme that netted $16 million in profits and prevented another $11 million in potential losses, the agency announced Monday.

Matthew G. Teeple of San Clemente, Calif., was a research analyst for the RIA firm Artis Capital Management, the SEC says. John V. Johnson of Arvada, Colo., was an analyst and assistant portfolio manager in the Denver office of The Boston Company Asset Management LLC, an RIA company, at the time of the insider trading, he was unemployed but trated securities in his and his family members' personal brokerage accounts.

The two were involved with insider trading of shares of Foundry, a publicly traded technology company, before it was sold to another company, according to the U.S. Attorney for the Southern District of New York.

Both men were arrested earlier on criminal conspiracy and securities fraud charges and pled guilty. Teeple was sentenced to five years in prison and ordered to pay $553,890 in forfeiture and a $100,000 fine. Johnson was sentenced to two years of supervised release and 50 hours of community service.

Both men traded on insider information they received that they knew was not available to the public, the SEC says.