U.S. SEC Proposes Expanded Share Repurchase Disclosure

On December 15, 2021, the U.S. Securities and Exchange Commission (the SEC) proposed amendments which would require that a public company provide more timely disclosure on a new Form SR regarding purchases of its equity securities for each day that it, or an affiliated purchaser, makes a repurchase of its equity securities.¹ The proposed amendments would also expand the existing periodic disclosure requirements relating to share repurchases.

If adopted after a 45-day comment period, these proposed amendments would:

• Require daily repurchase disclosure on a new Form SR, which would be furnished to the SEC one business day after execution of a company's share repurchase order;