SEC floats stronger insider trading rules as executive stock sales surge

Chairman Gary Gensler cites the 'dash for cash' among investors at start of the pandemic

The US Securities and Exchange Commission (SEC) on Wednesday will propose tightening a legal safe-harbour that allows corporate insiders to trade in a company’s shares, and other rules to improve the resilience of money market funds. The agency will also propose rules to fix problems highlighted by the meltdown of New York-family office Archegos earlier this year. The slew of long-awaited proposed rules, which are subject to public consultation, mark a milestone for SEC chair Gary Gensler who has pledged an ambitious agenda since joining the Wall Street watchdog in April .

The proposed tightening of “10b5-1” corporate trading plans in