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  • Statement On Final Amendments To Rule 10b5-1 And Other Insider Trading Requirements, SEC Chair Gary Gensler, Dec. 14, 2022

    Date 14/12/2022

    Today, the Commission will consider whether to adopt amendments to Rule 10b5-1, as well as new required corporate disclosures related to executive officers’ and directors’ trading. I am pleased to support these new requirements because, if adopted, they will help close potential gaps in our insider trading regime.

  • Statement On The Final Rule: Insider Trading Arrangements And Related Disclosures, SEC Commissioner Mark T. Uyeda, Dec. 14, 2022

    Date 14/12/2022

    Thank you, Chair Gensler.  The Commission initially adopted rule 10b5-1 under the Securities Exchange Act of 1934 in the year 2000 and has not revised it since.  In the past 22 years, thousands of public company employees, directors, and officers have entered into written plans designed to satisfy rule 10b5-1’s affirmative defenses.  These “10b5-1 plans” have received much scrutiny because of concerns that corporate insiders have claimed reliance on an affirmative defense while possibly trading on the basis of material nonpublic information.  Today’s amendments are intended to address these concerns, attempting to strike the right balance between (1) eliminating opportunistic behavior and (2) providing a rule that can be implemented on a practical basis.  While I support the final amendments, which have been reached through discussions among the commissioners, I hope that market participants will provide the Commission with feedback on whether the right balance was struck.

  • Strengthening Insider Trading Rules For Corporate Insiders, SEC Commissioner Jaime Lizárraga, Dec. 14, 2022

    Date 14/12/2022

    Today, the Commission adopts reforms designed to tackle insider trading by corporate insiders. These reforms will strengthen investor protection and the integrity of our securities markets.

  • Statement On Proposal To Amend Rules Governing Access Fees And Tick Sizes And To Accelerate Certain Market Data Changes, SEC Commissioner Hester M. Peirce, Dec. 14, 2022

    Date 14/12/2022

    Thank you, Mr. Chair.  This proposal would amend discrete elements of Regulation NMS that have received significant attention from market participants.  These changes would include finer, variable tick sizes for quotations and orders and—notably—trading.  They also would include corresponding reductions in the access fees that national securities exchanges could charge for access to protected quotations.  In addition, the proposal would accelerate certain elements of the Market Data Infrastructure rule, including the new definitions of round lots and odd-lot information.  The proposal also would establish a consolidated best odd-lot order that would provide information about the price, size, and market of the best-priced odd-lot buy and sell orders.

  • Nadex Announces 2023 Holidays

    Date 14/12/2022

    Nadex will observe the following holidays in 2023, and may adjust listing hours for all or some of its contracts on these days: