The talk was of a bill to bring congressional trading in line with executive trading (I.e. totally transparent with 6-12 irreversible lead times on any trades). I don’t know that anyone was pushing for an outright ban.
10b5 plans can be cancelled, with the penalty of a short waiting period before re-adopting a new 10b5 plan. (It’s obviously difficult to prove an improper insider trade happened if no trade happened.)
Comments
The talk was of a bill to bring congressional trading in line with executive trading (I.e. totally transparent with 6-12 irreversible lead times on any trades). I don’t know that anyone was pushing for an outright ban.
10b5 plans can be cancelled, with the penalty of a short waiting period before re-adopting a new 10b5 plan. (It’s obviously difficult to prove an improper insider trade happened if no trade happened.)