The SEC postponed the effective date of the "Share Repurchase Disclosure Modernization Rule," which requires issuers to provide additional information on the purpose of their repurchase programs. The SEC announced a stay of the "Repurchase Rule" in order to address Administrative Procedure Act deficiencies found by the Fifth Circuit Court of Appeals.
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The SEC set effective and compliance dates for amendments aimed at preventing runs on money market funds during times of financial stress. The SEC is adopting a tiered approach to the transition periods for the final amendments.
The SEC adopted rule amendments aimed at preventing a run on money market funds during a time of financial stress.
The new SEC rule on enhanced issuer repurchase disclosures was published in the Federal Register with an effective date set for July 31, 2023.
In remarks before the Investment Company Institute, SEC Chair Gary Gensler addressed risks associated with liquidity mismatches. He described initiatives to enhance liquidity risk management.