On January 13, 2022, the Securities and Exchange Commission (the “SEC”) proposed several rule and form amendments to address potentially abusive practices relating to the use of Rule.
On December 14, 2022, the U.S. Securities and Exchange Commission ("SEC") unanimously adopted final rules adding new conditions applicable to Rule 10b5-1 trading plans.
The final rules go into effect 60 days after their date of publication in the Federal Register February 27, 2023. After such date, any new or amended Rule 10b5-1 trading plan must comply with the requirements of the final rules.