June 1, 2016

Insider Trading: An I-Banker & Plumber Walk Into a Bar…

Given the popularity of my recent blog – “Insider Trading: A Director, Golfer & Gambler Walk Into a Bar…” – I couldn’t resist a follow-up when I saw this press release from the SEC yesterday. It never ceases to amaze me how dumb some people on Wall Street are when it comes to insider trading. What did the I-banker think when the SEC Enforcement Staff saw that a plumber suddenly makes 10 bets on companies who miraculously were acquired shortly after the trades? Although I guess it feels like you got away with it the first few times, you figure you’re golden all the way. Anyways, this is a good teaser for tomorrow’s grand webcast

Webcast: “Yes, It’s Time to Update Your Insider Trading Policy”

Tune in tomorrow for the webcast – “Yes, It’s Time to Update Your Insider Trading Policy” – to hear Chris Agbe-Davies of Spectra Energy, Ari Lanin of Gibson Dunn, Alan Dye of Hogan Lovells and and Marty Dunn of Morrison & Foerster provide practical guidance on revisiting your insider trading policy, as well as your insider trading training program for officers, employees and directors. The panel will cover:

1. Insider Trading: The Current Enforcement Environment
2. Overview of Pre-Clearance Procedures
3. Things to Consider in Drafting/Applying the Policy (including gifts, transactions with issuer, changes of election under 401(k) plans and ESPPs)
4. Blackout Periods
5. Policy Provisions About Sharing Information With Third Parties
6. Extending Coverage Beyond Employees
7. Pledging, Hedging & Short-Selling Transactions
8. Intersection with Rule 10b5-1 Plans
9. Employee Education

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Broc Romanek