Executive Summary
Our Securities Group breaks down the differences between the
current rules on disclosure of repurchases or buybacks and the
Securities and Exchange Commission's proposal to increase
issuers' requirements and create a new form to bring increased
transparency.
- SEC believes that heightened disclosures would offer investors
better insight into an issuer's activity
- New Form SR would require next-day reporting
- What should companies do now and going forward?
On December 15, 2021, the Securities and Exchange Commission
(SEC) proposed amendments to its rules governing issuers'
disclosure of repurchases or buybacks of their equity securities
registered under Section 12 of the Securities Exchange Act of 1934.
The proposed amendments would heighten issuers' disclosure
requirements through more timely disclosure on new Form SR and
enhance issuers' periodic disclosure requirements on Form 10-K,
Form 10-Q, Form 20-F, and Form N-CSR.
