Requirement (SOX)
Section 306: Insider Trades During Pension Fund Black-Out Periods.
Requirements SOX
Description
Description
Prohibits the purchase or sale of stock by officers and directors and other insiders during blackout periods. Any profits resulting from sales in violation of this section "shall inure to and be recoverable by the issuer." If the issuer fails to bring suit or prosecute diligently, a suit to recover such profit may be instituted by "the owner of any security of the issuer."
Comment
Concerns: issuers