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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22 News Results
A broadband connectivity company settled charges with the SEC for failing to maintain internal accounting controls intended to ensure that the company's stock buybacks were conducted in accordance with management authorizations.
The U.S. Court of Appeals for the Fifth Circuit ordered the SEC to "correct defects" in its final rulemaking on issuer repurchase disclosures.
Six "insiders" of public companies settled charges with the SEC for failing to file reports on their securities holdings and transactions in a timely manner. Five public companies were also charged for contributing to the violations.
The new SEC rule on enhanced issuer repurchase disclosures was published in the Federal Register with an effective date set for July 31, 2023.