Client Alert
SEC Proposes Amendments To Issuer Repurchase Safe Harbor
February 2, 2010
Last week, the SEC proposed amendments to modernize Rule 10b-18, a non-exclusive safe harbor designed to protect issuers (and affiliated purchasers) from violating the anti-manipulation rules of the Securities and Exchange Act of 1934 when engaging in issuer stock repurchases. The SEC's proposals are intended to respond to significant developments in trading strategies and technologies that have made it more difficult for issuers to comply with the safe harbor's requirements. The comment period for the SEC’s proposals ends March 1, 2010.
Click here to see our client alert discussing key aspects of the SEC’s proposed rule changes.
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