To require the Securities and Exchange Commission to carry out a study of Rule 10b5-1 trading plans, and for other purposes.
Promoting Transparent Standards for Corporate Insiders Act
This bill directs the Securities and Exchange Commission (SEC) to study and report on possible revisions to regulations regarding Rule 10b5-1 trading plans. (Such plans allow certain employees of publicly traded corporations to sell their shares without violating insider trading prohibitions.) The SEC must revise regulations consistent with the results of the study.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Mr. Himes moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H1221-1223)
DEBATE - The House proceeded with forty minutes of debate on H.R. 624.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H1232)
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 413 - 3 (Roll no. 52).(text: CR H1221)
Roll Call #52 (House)On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 413 - 3 (Roll no. 52). (text: CR H1221)
Roll Call #52 (House)Motion to reconsider laid on the table Agreed to without objection.
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Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.