Regulatory Alerts2022-02-15 | 2022-01140Added · Updated
SEC Proposed Rule on Rule 10b5-1 and Insider Trading
The Securities and Exchange Commission proposes amendments to Rule 10b5-1 to address abuses of the insider trading affirmative defense by adding new conditions such as cooling-off periods and director certifications. The proposal also mandates new disclosure requirements regarding insider trading policies, the adoption and termination of trading arrangements, and the timing of equity compensation awards relative to material nonpublic information. Additionally, the Commission seeks to amend Forms 4 and 5 to identify transactions made pursuant to trading arrangements and to require the disclosure of all gifts of securities.
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