The effective date for SEC amendments to Exchange Act Rule 10b5-1 is February 27, 2023.
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- Activity: Insider Trading
The SEC adopted amendments to Exchange Act Rule 10b5-1. The amendments will increase obligations for parties seeking the insider trading safe harbor provisions, including expanded disclosure requirements.
The SEC charged three individuals with securities fraud for engaging in insider trading in the securities of Equifax, Inc. prior to its announcement of a major data breach.
In a civil Complaint alleging cryptocurrency insider trading, the SEC asserted that nine of the 25 cryptocurrencies implicated in the alleged scheme were "crypto-asset securities."
SEC Division of Enforcement Director Gurbir S. Grewal expressed satisfaction with the outcome of a jury trial in the Central District of California, which found the former vice president of a publicly traded multinational manufacturing company liable for insider trading.