8–K Trading Gap Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 9709 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 9709 To amend the Securities Exchange Act of 1934 to require the Securities and Exchange Commission to issue rules that prohibit officers and directors of certain companies from trading securities in anticipation of a current report, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 19, 2024 Mr. Sherman introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Securities Exchange Act of 1934 to require the Securities and Exchange Commission to issue rules that prohibit officers and directors of certain companies from trading securities in anticipation of a current report, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``8-K Trading Gap Act of 2024''. SEC. 2. PROHIBITION ON CERTAIN TRADING IN ANTICIPATION OF A CURRENT REPORT. The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended by inserting after section 10D (15 U.S.C. 78j-4) the following: ``SEC. 10E. PROHIBITION ON CERTAIN TRADING IN ANTICIPATION OF A CURRENT REPORT. ``(a) Prohibition.--Not later than 1 year after the date of enactment of this section, the Commission shall issue rules that require each issuer that is subject to reporting requirements under section 13(a) or 15(d) to establish and maintain policies, controls, and procedures that are reasonably designed to prohibit executive officers and directors of the issuer from purchasing, selling, or otherwise transferring any equity security of the issuer or interest in an equity security of the issuer, directly or indirectly-- ``(1) with resp