Interval Investment Funds

Interval funds are a type of closed-end fund that offers to buy shares in the fund back from investors at stated intervals and in stated amounts. However, shareholders are not obligated to sell their shares back to the fund.

Independent Director Audit Committee Requirements for New York Stock Exchange Companies

Independent directors must make up the majority of the board of directors of a company listed on the New York Stock Exchange. In addition, listed companies must have several committees made up entirely of independent directors, including the Audit Committee.

Trading Plans to Avoid Insider Trading Presumptions

An insider of a public company who trades in the company's stock while aware of material but nonpublic information about the company is presumed to be trading on the basis of that information in violation of Securities and Exchange Commission Rule 10b-5. To counter that presumption, companies may adopt Rule 10b5-1 Trading Plans.

Short-Swing Profits

Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C.S. § 78p(b), limits the ability of corporate insiders and principal stockholders to profit from their access to nonpublic information about their company. Under Section 16(b), profits from two trades of a company's publicly traded securities within six months by a director, officer, or beneficial owner of more than ten percent of a security of the company are owed to and may be recovered by the company. If the company does not retrieve those profits, shareholders may file a derivative action to obtain a court order to have the profits given over to the company.