NYC Comptroller Blasts Scheduled Stock Sales as Insider Trading

New York City’s new comptroller is throwing his clout into efforts to close a loophole that lets corporate executives make well-timed trades with little risk of being accused of insider trading.

Brad Lander, who oversees pension funds holding about $275 billion, is urging the Securities and Exchange Commission to enact a proposed cooling-off period for executives who adopt stock-sale plans, making them wait four months before trades can commence. The Democrat, who took office this year, is also asking Abbott Laboratories shareholders to change its policies after Bloomberg highlighted certain trades made by a former executive in an article ...