SECURITIES

SEC to Simplify Insider Trading Reporting: The Securities and Exchange Commission’s unanimous vote streamlines parts of Section 16 of the Securities Exchange Act, which regulates trading by corporate insiders. Corporations had called for repeal of the section, saying it imposed expensive reporting and record-keeping requirements for executives even for routine trades of their company’s stock, such as for employee benefit plans. Instead of a repeal, the SEC adopted changes aimed at reducing paperwork requirements for employees, officers and directors who make routine transactions. “This will enable companies, for example, to compensate their officers and directors without having to artificially structure their plans to meet complex regulatory requirements,” SEC Chairman Arthur Levitt said.