The author of The 10b-5 Daily (Lyle Roberts) wrote an op-ed last year arguing that the Insider Trading Prohibition Act passed by the House of Representatives was severely flawed. The bill went to the Senate, but died from deserved inaction. Last month the bill was passed again and its sponsors hope it will receive a more favorable reception now. Unfortunately, the legislation has not gotten any better in the interim.
Lyle Roberts and Professor M. Todd Henderson (U. of Chicago Law School) have published a new op-ed in The Hill discussing how the Senate could fix what the House has wrought. Stay tuned.