SEC Continues to Scrutinize Rule 10b5-1 Plans
By EsqSocial Corporation 09/06/21
Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), has asked the Commission staff to consider updates to Rule 10b5-1 in an effort to “address cracks” in the current insider trading regime and otherwise “freshen up” the rule. Rule 10b5-1 of the Securities Exchange Act of 1934 provides an affirmative defense for directors, executive officers and other insiders transacting in the company’s securities as long as a 10b5-1 trading plan is adopted in good faith and while not in...
By: Akin Gump Strauss Hauer & Feld LLP