SEC Probing Insider Trading Guardrails

The SEC is looking to crack down on ineffective policies and procedures as part of broader insider trading scrutiny, Gurbir Grewal, the SEC's enforcement director, said in a recent interview. "The frustration with insider trading is that sometimes the threat of jail and penalties don't prevent it," Grewal said. "So we have to emphasize the tools we have and the firms need to tighten up their policies to prevent abuse." The SEC's efforts are aimed not just at insider trading in equity markets, but also potential use of complex financial...