SEC Proposes Broad Amendments to Longstanding Rule 10b5-1 Protections

Pillsbury Winthrop Shaw Pittman LLP – Chair Gensler caps an inaugural year by proposing sweeping changes to the availability of Rule 10b5-1 trading plans. The proposed amendments—in which all five Commissioners joined—are designed to address longstanding concerns that corporate officers, directors, and other individuals are using Rule 10b5-1 plans to circumvent insider trading prohibitions.