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Regulation and Compliance > Federal Regulation > SEC

Don't Make These Costly D&O Insurance Mistakes: SEC Roundup

by Nick Morgan and Tom Zaccaro

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Welcome to SEC Roundup, a bimonthly video series by Paul Hastings partners and former Securities and Exchange Commission senior trial counsels Nick Morgan and Tom Zaccaro exploring current SEC topics with thought leaders and industry experts.

In this episode, Morgan and Zaccaro talk with Amy Jeter and Chris Crawford of insurance broker Marsh who explain the easy-to-overlook director and officer insurance coverage issues public companies should consider in light of the SEC’s proposed rule that would modify the requirements for 10b5-1 insider trading plans as the rule gets closer to adoption.

“Public company insiders adopt 10b5-1 insider trading plans so that they can sell their personal shares of their company’s stock without being accused by the SEC of insider trading,” Morgan explains.

“The SEC’s proposed changes to Rule 10b5-1 would require a ‘cooling off’ period before implementing such a plan and would require an attestation that the individual is not in possession of material, nonpublic information at the time she adopts her 10b5-1 plan.”

Comments were due on the SEC’s plan on April 1.

See the video above for the discussion with Jeter and Crawford.

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