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SEC plans to go after market manipulation on social media, executive insider trading, Gensler says

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SEC Chairman Gary Gensler said his agency is focused on adopting new rules to guard against company executives using private information to opportunistically sell shares of companies they oversee.

Securities and Exchange Commission Chairman Gary Gensler said Monday that his agency is focused on adopting new rules to guard against company executives using private information to opportunistically sell shares of companies they oversee, while acknowledging that the SEC must come up with new strategies to guard against market manipulation on social media.

One concern Gensler has is that there is no “cooling off period” mandated by the SEC for when a 10b5-1 plan is adopted and when it can start trading, though research shows that 40% of such plans begin trading within just two months after they are opened, while 14% start trading within a month. The Journal asked Gensler about revelations that the SEC wrote to Tesla TSLA, +1.01% CEO Elon Musk complaining that he had violated a 2018 settlement to presubmit tweets that discuss production figures for his various companies. The letters, according to the Wall Street Journal, said that Musk continues to violate that provision of the settlement, though “the feud appears to have ended in a stalemate without further consequence to Tesla or Mr. Musk.

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While you are at it , why not charge senators doing insider trading with privileged information GaryGensIer unusual_whales have all of them listed .

How about ban them from using govt bailouts to buy stocks of corps they oversee?

Why not just enforce the fking laws we have

Why not after massive diluters? GaryGensIer you do shit

Elon might be looking at jail time.

Like the CEOs of these heroic vaccine companies? Held the info on vaccine to influence the election, then sold the news following the huge announcement pop?

Yes please, go after elonmusk the biggest market manipulator...

😂 How about we guard against regulators that are worthless and not doing their job?

If you are holding DogeCoin holders. Be sure to hold tight. DogeCoin is going in control. Whale wallets keep buying in. Happy smart investor (hold and buy more DogeCoin). $5 very fast.

elonmusk

wow

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