On May 04, U.S. Senator Chris Van Hollen (D-Md.), a member of the Senate Banking, Housing, and Urban Affairs Committee released the following statement regarding the Securities and Exchange Commission’s (SEC) newly adopted rules on disclosure of stock buybacks:
“When companies are buying back their stock, investors and the public deserve to know why. After years of fighting for stronger transparency and accountability around these buybacks, I’m glad to see the SEC take action to put overdue disclosure rules in place. I’ll keep working to bolster transparency in our markets for investors and support the workers who keep our economy moving.”
Senator Van Hollen has repeatedly pressed the SEC – in letters and in hearings – to take action on stock buybacks and has previously introduced bipartisan legislation to require transparency in corporate stock trading.
Original source can be found here.
