FrontLine’s Founder and President Amy Lynch appeared on “Bloomberg Markets” for a live interview discussing the SEC’s role following the collapses of Silicon Valley Bank and Signature Bank. Ms. Lynch provides insight on why the SEC will be looking closely at the recent events and reviewing the banks’ Rule 10b5-1 plans to see how bank executives used them in the months prior to the failures occurring. She states that the SEC will want to determine if any trading by the executives violated their written 10b5-1 plans and resulted in insider trading. She also explains that other trading on material non-public information could be more widespread, depending on what is discovered by the SEC’s review of trading activity in the banks’ securities during the time period in question.
View the interview, Bloomberg TV’s Bloomberg Markets, “FrontLine Compliance founder Amy Lynch on what the SEC is doing during the turmoil across banks”