In their first bipartisan action as heads of the House Financial Services Committee, Chairwoman Maxine Waters (D-Calif.) and Ranking Member Patrick McHenry (R-N.C.) introduced a bill to implement preventive measures against illegal insider trading.
H.R. 624 would do so by mandating certain restrictions on when issuers and issuer insiders are able to buy or sell securities during issuer-adopted trading windows, the number of trading plans they can adopt and how often they can modify their trading plans, among other things.
Find out what the Securities and Exchange Commission would have to do to implement the measure.