The SEC issued proposed amendments to Rule 10b5-1. As academic studies and news articles have pointed out, however, the current Rule 10b5-1 allows room for gaming the system. It is these loopholes that the new proposed amendments are largely intended to prevent.
Major changes may be on the horizon for Rule 10b5-1 plans, such as cooling-off period requirements for directors and officers, limiting single-trade plans, limiting overlapping plans and public disclosure of Rule 10b5-1 plans and insider trading policies.