Sarbanes-Oxley Section 306(A): Final Rules On Insider Trades During Pension Fund Blackout Periods
- Topics:
- Sarbanes Oxley Compliance
- Tags:
- Director,
- Sarbanes-Oxley Act,
- Sarbanes-Oxley,
- Regulatory Compliance,
- Regulations,
- Policies And Procedures,
- Pension Fund,
- Officer,
- Investment,
- Human Resources,
- ...
- Source:
- Vinson & Elkins
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Overview: In a release dated January 22, 2003, the Securities and Exchange Commission issued final rules implementing Section 306(a) of the Sarbanes-Oxley Act of 2002 (the “Act”). Section 306(a) of the Act, entitled “Prohibition of Insider Trading During Pension Fund Blackout Periods,” expressly prohibits any director or executive officer of an issuer of any equity security, directly or indirectly, from purchasing, selling or otherwise acquiring or transferring any equity security of the issuer during any blackout period with respect to such equity security, if the director or executive officer acquired the equity security in connection with his or her service or employment as a director or officer. The release adopts Regulation Blackout Trading Restriction (“Regulation BTR”) to clarify the scope and application of Section 306(a) of the Act.
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Format: PDF | Size: 513KB | Date: Apr 2003 | Pages: 4
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