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Promoting Transparent Standards for Corporate Insiders Act

11/1/2022, 4:47 PM

Congressional Summary of S 573

Promoting Transparent Standards for Corporate Insiders Act

This bill directs the Securities and Exchange Commission (SEC) to study and report on possible revisions to regulations regarding Rule 10b5-1 trading plans. (Such plans allow certain employees of publicly traded corporations to sell their shares without violating insider trading prohibitions.) The SEC must revise regulations consistent with the results of the study.

Current Status of Bill S 573

Bill S 573 is currently in the status of Bill Introduced since February 27, 2019. Bill S 573 was introduced during Congress 116 and was introduced to the Senate on February 27, 2019.  Bill S 573's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of November 17, 2020

Bipartisan Support of Bill S 573

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 573

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative law and regulatory procedures
- Congressional oversight
- Employee benefits and pensions
- Financial services and investments
- Government studies and investigations
- Securities
- Securities and Exchange Commission (SEC)

Alternate Title(s) of Bill S 573

Promoting Transparent Standards for Corporate Insiders Act
Promoting Transparent Standards for Corporate Insiders Act
A bill to require the Securities and Exchange Commission to carry out a study of 10b5-1 trading plans, and for other purposes.

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