SEC Proposes Electronic Filing of Insider Trading
From Bloomberg News
The Securities and Exchange Commission proposed rules Wednesday that would require top corporate executives to file electronically reports of their trades of company stock.
The proposed rules, passed unanimously, also call for companies to post the information on their Web sites.
The reports would be filed by all corporate officers and directors and owners of more than 10% of a company’s shares.
The SEC said the new system could be working by spring.
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