The Securities and Exchange Commission voted today to adopt several new rules and amendments that were required under the anti-fraud legislation that became law last summer.

The commission voted to prohibit top company executives from selling or buying company stock during blackout periods, the time when pension investors cannot alter their retirement plans. It also adopted rules requiring that companies disclose whether they have a "financial expert" sitting on their audit committees. The commission defined a financial expert as, among other things, an executive with an understanding of financial statements and generally accepted accounting principles, or GAAP.

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