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U.S. SEC to propose rule restricting how corporate executives trade their companies’ own stock -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The logo of the U.S. Securities and Exchange Commission is displayed on a Washington office door, at the SEC Headquarters in Washington. June 24, 2011. REUTERS/Jonathan Ernst

WASHINGTON (Reuters] – Wednesday’s proposal by the U.S. Securities and Exchange Commission is to restrict corporate executives from trading their stock and increase transparency.

Market regulators have changed the trading plan rules to require that executives of companies disclose modifications and existence of these agreements. Additionally, the changes would limit such plans to just one per year. In addition, executives will be required to take a four month ‘cooling off’ period after each trade is completed and to declare ignorance of material insider info.

A five member commission of the agency will vote on changes that would improve transparency and resilience in “prime” money market funds. This includes removing redemption gates and other rules.

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