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Big-dollar insider stock sales are increasingly common, with no fewer than 82 different corporate insiders selling more than $100m of stock in 2021. That's up from just 32 in 2019. As a result, the SEC wants to make it much harder for insiders to take advantage of provisions surrounding stock sales that effectively make insider-trading prosecutions impossible.
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"Over the past two decades, we’ve heard concerns about and seen gaps in Rule 10b5-1," said SEC chair Gary Gensler in a press release announcing the proposal.
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