SEC adopts requirement for disclosure of hedging policies for employees, officers, and directors

On December 18, 2018, the SEC adopted a requirement for U.S. public companies to provide proxy disclosure of any practices or policies they have adopted regarding the ability of the company's employees, officers or directors, or their designees, to hedge or offset any decrease in the market value of their holdings of company equity securities. The new requirement implements a long-standing mandate of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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