Jina Choi spoke to the Wall Street Journal about the Securities and Exchange Commission (SEC) drafting a proposal that would restrict plans that corporate insiders use to avoid insider-trading claims when buying or selling their own company's stock. SEC Chairman Gary Gensler said he is looking to revise rules that govern the arrangements, known as 10b5-1 plans.
"The fact that the SEC is looking at this is smart and timely," Jina said. "There do seem to be some gaps, especially when you look at the academic studies."
The article also linked to Jina's client alert, which looks at how the SEC has brought relatively few enforcement actions over trading linked to 10b5-1 plans.
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