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On May 3, 2023, the Securities and Exchange Commission (SEC) adopted amendments to issuer share repurchase disclosure rules, aimed at providing investors with enhanced information to enable them to better “assess the efficiency, purposes, and impacts of share repurchases.”
At an open meeting last week, the SEC voted three to two to adopt a proposal intended to modernize and improve disclosure regarding company stock repurchases.
New rules require domestic issuers, foreign private issuers FPIs except those that file pursuant to Multijurisdictional Disclosure System, and registered closed-end management investment companies to provide additional share repurchases disclosures on behalf of the issuer.
The business advocacy group says the SEC is trying to deter stock buybacks by making them more time-consuming, not trying to protect investors.
The US Securities and Exchange Commission (SEC) on May 3, 2023 voted 3-2 to adopt amendments to Form PF that will impact the required reporting for certain SEC-registered investment...