Friday, May 10, 2013

Insider Trading By Any Other Name: SEC Pressed to Revamp Executive Trading

Federal securities regulators have been slow to revamp rules abused by corporate insiders to trade their company stocks, a group of pension funds and a former SEC commissioner told the WSJ.

In a letter Thursday to the Securities and Exchange Commission, the Council of Institutional Investors urged the agency for the second time in four months to tighten rules on government-sanctioned trading plans that allow corporate executives and directors to sell shares despite potentially having knowledge of nonpublic information about their companies….

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