According to WSJ, in 2007, a top securities regulator warned that executives
could be abusing preset plans to buy and sell their companies' stock "to
facilitate trading based on inside information."
Since then, corporate insiders have filed more than one
million forms with the SEC related to changes in ownership of their shares. The
agency has brought more than 260 cases alleging insider-trading since the
speech—but securities-law experts say very few of the cases allege fraud by
executives trading their companies' stock.
An SEC spokesman said prearranged trading plans don't shield
executives from enforcement action if they trade on the basis of material nonpublic
information, "which we can and do detect."
Wait, wait....there's more at http://online.wsj.com/article/SB10001424127887324296604578177734024394950.html
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