Amid scrutiny of exec stock sales, SEC chairman echoes calls for 'cooling-off period' in trading plans
In a year when execs of vaccine developers frequently came under scrutiny for selling stock in the wake of positive news and stock surges, pre-scheduled trading schemes known as 10b5-1 are always central to their defense. But now the chairman of the SEC is calling for a rethink of that whole system.
Testifying at a Senate hearing, Jay Clayton suggested that leaders of biopharma companies should be barred from trading stock too soon after they update their plans.
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