📋 Tender Overview
The Securities and Exchange Commission adopted amendments to its ethics rules to strengthen and modernize its ethics compliance program. The amendments update the SEC’s existing, robust ethics requirements that govern the securities holdings and transactions of all agency employees, their spouses, and minor children. The rule was adopted jointly with the Office of Government Ethics.
“I was pleased to support today’s adoption of rules to strengthen the SEC’s ethics requirements,” said SEC Chair Gary Gensler. “These amendments modernize our compliance program and will help ensure the SEC honors the trust the public has placed in our agency.”
For many years, SEC employees have been required to preclear securities transactions and comply with minimum holding periods. All employees are prohibited from, among other things, transacting in securities of companies the agency is investigating, engaging in short selling, transacting in derivatives, participating in initial public offerings for seven calendar days after the offerings, or purchasing or carrying securities on margin.
The amendments update the SEC’s Supplemental Ethics Rules, 5 CFR Part 4401.102, Supplemental Standards of Conduct for Members and Employees Securities and Exchange Commission.
