• SEC Proposes to Amend Rule 10b-18 Regarding Repurchases of Securities
  • June 12, 2003
  • Law Firm: Duane Morris LLP - Philadelphia Office
  • The Securities and Exchange Commission (SEC) has proposed modifications to the regulations establishing a safe harbor for purchases by an issuer of its own common stock. The proposed amendments to the Securities Exchange Act of 1934 (the Exchange Act) Rule 10b-18 (the Rule) would allow issuers whose securities are less susceptible to manipulation to remain in the market longer and to repurchase a greater number of shares during periods of severe market decline.