Tag Archives: buybacks

SEC Building

News Release: SEC Must Stand Up to Industry Attacks and Re-Propose Buybacks Rule

The Securities and Exchange Commission should re-propose its rule on disclosures of stock buybacks as soon as possible now that the unreasonably tight deadline for a court-mandated revision of the rule has passed. The Fifth Circuit Court of Appeals, alleging “defects” in a rule designed to bring transparency to stock buybacks, gave the SEC 30 days to revise the rule – an impossibly short time frame it then refused to extend upon the SEC’s request. The ruling came in response to a lawsuit by the Chamber of Commerce.

Blog: Congress Takes Historic Step to Tax Stock Buybacks

Schumer uttered those words as the Senate was on the brink of passing the Inflation Reduction Act—the compromise reconciliation bill that resulted from prolonged, heated negotiations amongst Democrats.  The version that will go to President Biden includes something brand-new in U.S. economic policy: a one percent excise tax on stock buybacks, which reached an astonishing $882 billion last year.