News & Analysis as of

Affirmative Defenses Cooling-Off Rule

Kelley Drye & Warren LLP

SEC Issues Final Rules on Rule 10b5-1 and Insider Reporting Changes

On December 14, 2022, the Securities and Exchange Commission (the “Commission”) adopted final rules (the “Final Rules”) which will affect trading by directors and officers of listed issuers and disclosure about such...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Adopts Broad Amendments to Rule 10b5-1 Protections and Section 16(a) Reporting

Affected individuals should review their 10b5-1 plans and Section 16(a) Reporting practices to ensure they comply with the new regulations. Directors, officers and other persons (other than issuers) cannot maintain more...more

Miller Nash LLP

SEC Rule Amendments on Insider Trading Arrangements

Miller Nash LLP on

The Securities and Exchange Commission (SEC) held an open meeting on December 14, 2022, in part, to consider amendments to Rule 10b5-1 and related disclosure rules, including Rule 10b5-1 trading plans, insider trading...more

Mintz - Securities & Capital Markets...

SEC Adopts Amendments to Rule 10b5-1 Insider Trading Arrangements

On December 14, 2022, the Securities and Exchange Commission adopted final rules amending Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, to impose new conditions to the availability of the Rule 10b5-1...more

Hogan Lovells

SEC adopts major Rule 10b5-1 amendments and disclosure requirements relating to securities transactions

Hogan Lovells on

On December 14, the SEC adopted long-awaited amendments to Rule 10b5-1 under the Exchange Act that add new conditions for a trading arrangement to qualify for the rule’s affirmative defense against Rule 10b-5 liability for...more

BakerHostetler

SEC Amends Rule 10b5-1 Trading Arrangement Conditions and Disclosure Requirements for Issuers and Section 16 Reporting Persons to...

BakerHostetler on

On Dec. 14, 2022, the SEC voted to adopt amendments to Rule 10b5-1 and to enhance disclosure requirements, in an attempt to establish meaningful guardrails around the use of Rule 10b5-1 trading plans and strengthen...more

Smith Anderson

SEC Adopts Amendments to 10b5-1 Plans

Smith Anderson on

On December 14, 2022, the Securities and Exchange Commission (SEC) unanimously voted to adopt amendments to Rule 10b5-1 under the Securities Exchange Act of 1934 (Exchange Act), adding new conditions to the availability of...more

Nelson Mullins Riley & Scarborough LLP

Rule 10b5-1 Amendments Adopted by the SEC

The SEC has unanimously adopted amendments to Rule 10b5-1, stemming from rules originally proposed in January 2022. The amendments include, among other things, new conditions to the availability of the 10b5-1 affirmative...more

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