Rules Don't Apply trailer: Warren Beatty's directorial return stars Annette Bening

Nearly 20 years after helming 1998’s Bulworth, Hollywood icon Warren Beatty is making his directorial return with Rules Don’t Apply, the gorgeous new trailer for which debuted Thursday morning online.

The film, Beatty’s fifth theatrical feature to date, revolves around the budding relationship between an aspiring actress (Lily Collins) and a young, ambitious businessman (Alden Ehrenreich), both of whom are employed by aviator and filmmaker Howard Hughes (Beatty) in 1958 Los Angeles. Their love is forbidden by their wealthy employer, who prohibits any romantic entanglements between his employees.

Beatty reunites with his real-life spouse, Annette Bening, who costars as the mother of Collins’ character, in the film, marking their first time acting together since 1994’s Love Affair. The film’s new trailer also offers glimpses at roles played by supporting cast members like Matthew Broderick, Alec Baldwin, Candice Bergen, Steve Coogan, Megan Hilty, and Haley Bennett.

Fueling speculation that the film could be Beatty’s long-awaited return to the awards season conversation (six of his 14 total Academy Award nominations were split between 1981’s Reds and 1991’s Bugsy), the filmmaker will receive the Santa Barbara International Film Festival’s 11th annual Kirk Douglas Award for Excellence in Film, which has been awarded to the likes of Jane Fonda, Jessica Lange, Forest Whitaker, Harrison Ford, and Quentin Tarantino.

The festival, which runs from Feb. 1-11, 2017, typically hands out its various awards late in the preceding year. In the past, Oscar-bound individuals like Cate Blanchett (Blue Jasmine), Brie Larson (Room), Penelope Cruz (Vicky Cristina Barcelona), and Michael Keaton (Spotlight) have been honored with various accolades at the annual event.

Following a high-profile premiere on Nov. 10 as the AFI Film Festival’s opening night presentation, Rules Don’t Apply hits theaters Nov. 23. Watch the new trailer for the film below.