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SEC’s Share Repurchase Modernization Rule – the why, what, who, when and how

Gary Gensler
Chair Gensler said the rule was “good for investors, issuers, and the markets”. Photo: Kevin Dietsch/Getty Images

We explain the new rule and why it hasn’t met with universal approval.

The SEC has adopted new disclosure rules related to the repurchases of an issuer’s equity securities with the stated goals of increasing transparency, competition, and efficiency in what has grown to be a more than $1.25trn share-repurchase marketplace.

The new requirements include having issuers provide daily repurchase activity on