Rules that require any company stock transactions to be given prior approval by the legal department or by a company official, even when the intended trades would be made during an open window period. Usually this policy is aimed at senior executives and others with access to important confidential information that can move the company's stock price. This clearance process can minimize the risk of violations involving insider trading, blackouts, and Section 16. For details, see the FAQs in the section SEC Law: Insider Trading.