Today, Senators Elizabeth Warren (D-Mass.), Sherrod Brown (D-Ohio), and Chris Van Hollen (D-Md) released a letter from Securities and Exchange Commissioner Lee responding to the Senators’ letter (available here) from February 2021. The February 2021 letter from the Senators called on the Securities and Exchange Commission to review Rule 10b5-1, and asked that the SEC address a number of specific questions. That letter was followed by another letter in April 2021, from Senator Warren to the SEC, calling for an investigation regarding sales made by an executive pursuant to a Rule 10b5-1 trading plan in proximity to certain corporate announcements. Commissioner Lee’s response to the Senators may be accessed here. The release of Commissioner Lee’s April letter to the Senators follows public support from Commissioner Crenshaw and Chair Gensler indicating changes to Rule 10b5-1.