• Trading on material inside information (Rule 10b-5)
• "Short Swing" profit rule (Section 16(b) of the Securities Exchange Act of 1934), and
• SEC Rule 144 compliance when selling company stock.

In almost all cases, the process for successfully achieving the transition is multi-faceted, making it imperative that an executive, with assistance of a Morgan Stanley Smith Barney Financial Advisor and other product and services areas of our Firm, carefully develop and implement a comprehensive and integrated plan. Among the issues to consider are:

Restrictions on securities	The first step in building an intelligent strategy is to understand the securities they hold and the flexibility they have in liquidating them. The sale of a concentrated position is most likely subject to certain legal restrictions. Understanding these issues calls for a careful study by an experienced group of professionals dedicated to this task.
Alternatives for monetizing, hedging or diversifying securities	Working with an experienced firm, executives will find that their choices go far beyond simply selling or holding their securities. In some cases, executives can monetize their holdings without actually selling them. The range of alternative strategies may include collateralized loans, private placements and risk management strategies, such as listed and over-the-counter options, customized hedges, prepaid forward sales, contingent foward sales and exchange funds.
Estate and financial planning	The determination of which strategies to pursue should be considered within the framework of an overall estate and financial plan designed to maintain current wealth as well as the wealth for future generations.