The Securities and Exchange Commission has a new target since enforcement chief Linda Chatman Thomsen revamped regulations regarding stock-trading plans for corporate executives, compensation experts, corporate counsel and brokerages. On October 10th, Thomsen will review the current 10b5-1 trading plans that many believe are flawed. Many are speculating that this move will uncover a whole new set of executives that were potentially insider trading - a number that could reach into the hundreds if not thousands of executives according to many lawyers.

“The idea [of the original rule] was to give executives a safe harbor to proceed with these prearranged trades.... However, recent academic studies suggest that the rule is being abused,” Ms. Thomsen said in remarks at the Corporate Counsel Institute in March. “If executives are in fact trading on inside information and using a plan for cover, they should expect the safe harbor to provide no defense.”