Well, here's a somewhat analogous issue where the courts have decided differently. A 10b5-1 plan is set of rules set up by someone, like a company exec, to trad

Well, here's a somewhat analogous issue where the courts have decided differently. A 10b5-1 plan is set of rules set up by someone, like a company exec, to trade stock even if that person holds inside information at the time of the trade. That is, you could set up a plan that automatically sells 100 shares of stock per month. You can NOT change the rules of the plan while you have inside information. However, you CAN cancel plan orders even if you have inside info. For example, if you knew great news was coming, you could cancel a sell order. If I understand it, this is because courts have ruled that insider trading laws can only be applied when a trade occurs, not when one doesn't occur. IANAL so someone correct me if I'm wrong.