TheCorporateCounsel.net

The latest issue of The Corporate Counsel newsletter has been sent to the printer. It is also available now online to members of The CorporateCounsel.net who subscribe to the electronic format. The issue includes the following articles:

– Time for an Insider Trading Policy Tune-Up: Public Disclosure Is Here!
– ATMs: More Certainty for Baby Shelf Filers

Here’s a snippet from Dave’s insider trading piece with his thoughts on the treatment of gifts under insider trading policies in light of the SEC’s recent interpretive guidance:

For those companies that have not yet revisited the treatment of gifts in their insider trading policies in light of the Commission’s interpretive guidance over the past few years, now is a good opportunity to review the approaches taken by the early filers and determine which approach is best suited for addressing these types of transactions going forward.

While there is no one “right” approach to dealing with this issue, it is one that the Commission has particularly highlighted as an area for concern. A company may take the more conservative approach that we suggest in the Model Policy, or a more moderate approach as demonstrated by some of the early filers. In any event, it is important to address the issue directly to help the company avoid controlling person liability should an insider trading issue with a gift transaction ever arise for a person covered by the policy.

Please email sales@ccrcorp.com to subscribe to this essential resource if you are not already receiving the important updates we provide in The Corporate Counsel newsletter.

– John Jenkins