Wednesday, March 12

Tag: Share Buybacks/Redemptions

Court Sends Stock-Buyback Rule Back to SEC
2Nov By adminNo Comments
Money

Court Sends Stock-Buyback Rule Back to SEC

WASHINGTON—A conservative appeals court dealt a setback to the Securities and Exchange Commission’s plan to give investors more information about stock buybacks after business groups challenged the rule.Responding to a May lawsuit by the U.S. Chamber of Commerce and two Texas-based business groups, a three-judge panel on the Fifth Circuit Court of Appeals ruled that the SEC’s new requirements for share repurchases were “arbitrary and capricious.” The judges agreed with the groups’ assertion that the SEC didn’t adequately explain the rule’s costs and benefits.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Gary Gensler and the SEC Lose Again
2Nov By adminNo Comments
Health

Gary Gensler and the SEC Lose Again

Is Gary Gensler ever going to win a case? On Tuesday the Fifth Circuit Court of Appeals handed the Securities and Exchange Commission Chairman another legal defeat by scuttling the agency’s stock-buyback rule (U.S. Chamber of Commerce v. SEC.)The SEC in May finalized a rule requiring public companies to disclose their daily share repurchases and the reason for buying back their stock. Mr. Gensler claimed companies might buy back their stock to boost executive compensation, which is sometimes tied to accounting metrics such as earnings per share. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More