SEC Chair Aims To Seal 'Cracks' In Exec Insider Trading Rules

Law360 (June 7, 2021, 10:01 PM EDT) -- The U.S. Securities and Exchange Commission is working to overhaul the rule that shields corporate executives from insider trading accusations when they buy or sell their company's stock, the regulator's chairman said Monday.

The agency established so-called Rule 10b5-1 corporate stock plans two decades ago to prevent insider trading by allowing corporate executives with access to material nonpublic information to buy or sell their holdings at a predetermined price, amount and sales date.

At an event Monday, SEC Chair Gary Gensler said those plans have led to "real cracks in our insider trading regime" that could be shored up with new...

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