Tag Archives: securities

SEC Building

Letters to Regulators: Letter to the SEC on Stock Buybacks

AFREF led a letter with thirteen organizational signatories commenting in support of a rule proposed by the Securities and Exchange Commission that would significantly increase the transparency of stock buybacks.  A central component of the proposed rule is daily disclosures of stock buybacks.  (Current disclosure requirements are only quarterly.)  In the comment letter, we commend the SEC on the proposed rule and make recommendations to further strengthen protections against market manipulation and insider trading that we believe would improve long-term financial stability and growth.

SEC Building

Letters to Regulators: Letter to the SEC on Corporate Governance Implications of Securities Lending

AFREF sent a letter commenting on the Security and Exchange Commission’s proposed rule to increase the transparency and efficiency of the securities lending market. Having already commented in support of the proposed rule, we submitted an additional comment to address its corporate governance implications. The securities lending market—as it pertains to equity shares—has important corporate governance implications, as investors cannot vote shares on loan. In our comment, we recommend the Commission enhance the proposed rule’s public disclosures to give investors the tools they need to ensure the securities lending practices of asset managers and retail brokers do not interfere with investors’ role in corporate governance.

the White House

Joint Letter: Letter to President Biden Opposing Any Weakening of Federal Securities Laws

Americans for Financial Reform joined a letter to the Biden Administration urging them not to weaken the securities laws through the further expansion and deregulation of the private offering marketplace. The letter warns that further expanding the pool of securities exempt from the disclosure and investor protections afforded by the federal securities laws has the potential to damage economic recovery, including by increasing the probability of fraud and hindering the efficient allocation of capital.