Worldwide: Corporate/Commercial Law

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Article
Rule 10b5‑1 Trading Plans: A Practical Overview For Companies And Corporate Insiders
Companies with equity-compensation programs face significant insider-trading risks when employees, officers, and directors trade company securities while aware of material nonpublic information. Rule 10b5-1 trading plans provide an affirmative defense against insider-trading claims by establishing predetermined trading arrangements that satisfy specific SEC requirements, including adoption timing, good-faith certifications, mandatory cooling-off periods, and restrictions on overlapping plans.
United States Commercial
WT
Winston Taylor
Article
AI, MNPI, And The SEC: How Existing Law Applies To Model-Driven Trading
When an AI system is trained on material nonpublic information, MNPI, and then used to inform or execute trades, the firm deploying that system may face insider trading liability, even if no human trader ever directly reviewed the underlying data. The SEC has not yet brought a case on this precise theory, but recent enforcement actions, particularly its 2023 settlement with Virtu Financial, establish the compliance framework most likely to govern AI-driven trading. The legal risk is no longer hypothetical.
United States Commercial
GU
Gesmer Updegrove LLP
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PM
Private M&A
E
ESG
F
Franchising
PE
Private Equity

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Executive Remuneration

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Securities

Article
DOJ’S Post - Chastain Playbook: How Insider Trading Theories Are Expanding Into Prediction And Crypto Markets
Today, scrutiny is no longer confined to public equities markets. In a pair of recent prosecutions, including last week’s indictment of a Google employee, the Department of Justice has made clear that it will pursue insider trading type cases wherever (i) confidential data moves prices, and (ii) a duty-bound actor exploits that data for trading advantage, even outside the securities laws. Prediction markets and crypto platforms appear to be the primary testing ground for this expanded enforcement theory
United States Technology
CG
Cohen & Gresser
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M&A/Private Equity

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Compliance

Article
Built For One Era, Operating Across Four Generations
Federal banking agencies have issued revised model risk management guidance in SR 26-2, introducing a more explicitly risk-based approach to model governance, validation, and monitoring. While primarily targeting organizations with over $30 billion in assets, the principles-based framework has broader implications for regional and community banks navigating evolving regulatory expectations.
United States Finance
AC
Ankura Consulting Group LLC
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Latest Videos

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