Insider trading regulation: pre-clearance and trading window controls limit designated persons' securities transactions and disclosures. The Code of Conduct must establish a compliance officer reporting regime, need-to-know confidentiality and Chinese Walls, designated persons coverage and specified disclosures. A trading window controlled by the compliance officer governs when designated persons may trade; pre-clearance is required for trades above board-set thresholds with declarations of no unpublished price sensitive information. The code must set execution timeframes for pre-cleared trades, restrict contra trades for a prescribed cooling period with disgorgement for breaches, prescribe reporting formats, and provide sanctions and procedures for admitting persons to sensitive transactions.
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Provisions expressly mentioned in the judgment/order text.
Insider trading regulation: pre-clearance and trading window controls limit designated persons' securities transactions and disclosures.
The Code of Conduct must establish a compliance officer reporting regime, need-to-know confidentiality and Chinese Walls, designated persons coverage and specified disclosures. A trading window controlled by the compliance officer governs when designated persons may trade; pre-clearance is required for trades above board-set thresholds with declarations of no unpublished price sensitive information. The code must set execution timeframes for pre-cleared trades, restrict contra trades for a prescribed cooling period with disgorgement for breaches, prescribe reporting formats, and provide sanctions and procedures for admitting persons to sensitive transactions.
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