Out of the Shadows and into the Spotlight - A Fresh Look at Insider Trading as it Relates to New SEC Rules and Recent SEC Cases

Over the years, what we traditionally consider to be insider trading has developed without a clear framework. Not surprisingly this has caused the boundaries of insider trading to be in a constant state of development and change, particularly as our society and technology evolves. This can create uncertainty for public companies when creating and implementing internal policies, but recent developments can provide valuable insight into the areas companies should focus on.

This presentation provides an overview of the prohibitions against insider trading for employees, directors, and officers at a US public company. It includes discussion of:

• The current state of insider trading law, including:

• • What constitutes material nonpublic information; misappropriation; and tipping.

  • Recent court cases, including SEC v. Panuwat, as it relates to the evolution of insider trading.

• Best company compliance practices, including:

• • Discussion of company insider trading policies 

  • 10b5-1 plan considerations 
    
    

Learning Objectives:

1. Identify critical insider trading issues for clients

2. Address practical concerns with insider trading issues

3. Review whether recent legal developments in insider trading law impact the advice we should give

4. Develop an effective insider trading compliance program