1. Short title This Act may be cited as the Promoting Transparent Standards for Corporate Insiders Act . 2. SEC study (a) Study (1) In general The Securities and Exchange Commission shall carry out a study of whether Rule 10b5–1 (17 C.F.R. 240.10b5–1) should be amended to— (A) limit the ability of issuers and issuer insiders to adopt a plan described under paragraph (c)(1)(i)(A)(3) of Rule 10b5–1 ( trading plan ) when the issuer or issuer insider is permitted to buy or sell securities during issuer-adopted trading windows; (B) limit the ability of issuers and issuer insiders to adopt multiple, overlapping trading plans; (C) establish a mandatory delay between the adoption of a trading plan and the execution of the first trade pursuant to such a plan and, if so and depending on the Commission’s findings with respect to subparagraph (A)— (i) whether any such delay should be the same for trading plans adopted during an issuer-adopted trading window as opposed to outside of such a window; and (ii) whether any exceptions to such a delay are appropriate; (D) limit the frequency that issuers and issuer insiders may modify or cancel trading plans; (E) require issuers and issuer insiders to file with the Commission trading plan adoptions, amendments, terminations and transactions; or (F) require boards of issuers that have adopted a trading plan to— (i) adopt policies covering trading plan practices; (ii) periodically monitor trading plan transactions; and (iii) ensure that issuer policies discuss trading plan use in the context of guidelines or requirements on equity hedging, holding, and ownership. (2) Additional considerations In carrying out the study required under paragraph (1), the Commission shall consider— (A) how any such amendments may clarify and enhance existing prohibitions against insider trading; (B) the impact any such amendments may have on the ability of issuers to attract persons to become an issuer insider; (C) the impact any such amendments may have on capital formation