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Statement On Share Repurchase Disclosure Modernization, SEC Chair Gary Gensler, Dec. 15, 2021

Date 15/12/2021

Today, the Commission is considering enhancing the disclosures around share buybacks. I support these amendments because, if adopted, they would increase transparency into the market.
Statement On Rule 10b5-1 And Insider Trading, SEC Chair Gary Gensler, Dec. 15, 2021

Date 15/12/2021

First, the Commission is considering proposed amendments to Rule 10b5-1, as well as proposed new disclosure requirements. I support these amendments because, if adopted, they would help close potential gaps in our insider trading regime.
Federal Reserve Issues FOMC Statement

Date 15/12/2021

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The December 14-15 FOMC Meeting

Date 15/12/2021

The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the December 14-15 meeting.
Dissenting Statement On Buybacks Disclosure Proposal, SEC Commissioner Hester M. Peirce, Dec. 15, 2021

Date 15/12/2021

Thank you, Chair Gensler. Both dividends and share repurchases are ways companies return cash to shareholders. Yet, say “dividend,” and nobody gets angry, but say “share buyback,” and the rage boils over. Today’s proposal channels some of that rage against repurchases in a way that only a regulator can—through painfully granular, unnecessarily frequent disclosure obligations. This proposal requires daily repurchase disclosure to be furnished with the Commission one business day after execution. Because I do not support the indirect regulation of corporate activity through disclosure requirements, I respectfully dissent.

Standing Up The Security-Based Swap Regime: Statement On Proposed Rules For Antifraud, Position Reporting And CCO Support, SEC Commissioner Allison Herren Lee, Dec. 15, 2021

Date 15/12/2021

This year marks the thirteenth anniversary of the 2008 financial crisis and the 11th anniversary of the Dodd Frank Act. Title VII of Dodd-Frank, which established a new regulatory framework for swaps and security-based swaps, and was among the Act’s most significant reforms.
Statement On The PCAOB’s 2022 Budget, SEC Commissioner Allison Herren Lee, Dec. 15, 2021

Date 15/12/2021

The mission of the Public Company Accounting Oversight Board (PCAOB or Board) is set forth directly in its enabling statute. It is to oversee audits “in order to protect the interests of investors.” Investor protection is not one of prong of the mission; it is the mission. It is the lens through which we gauge the Board’s success in its central endeavors – standard setting, inspections, and enforcement.
Enhancing Transparency Around Stock Buybacks: Statement On Corporate Share Repurchase Proposal, SEC Commissioner Allison Herren Lee, Dec. 15, 2021

Date 15/12/2021

In recent years, corporate share repurchases, or buybacks, have grown exponentially. Even amidst a relative slump in share repurchases in 2020, buybacks reached nearly $700 billion in volume. And interest in, and the need to understand, these share repurchases has grown accordingly. Today’s proposal would enhance transparency for investors and markets around share repurchases by requiring more detailed, timely, and structured disclosures.
Stock Trading Plans Should Prevent – Not Enable – Insider Trading: Statement On Proposed Amendments To Rule 10b5-1, Commissioner Allison Herren Lee, Dec. 15, 2021

Date 15/12/2021

Working to keep markets fair by protecting against insider trading is one of the most fundamental jobs we have at the Commission. Enforcement in this area is key to our mission, but prophylactic measures designed to prevent the misconduct (rather than punish it after the fact) are vital. Because if companies and corporate insiders profit by trading on information that is available only to them, they not only disadvantage other shareholders, but also erode investor confidence and thereby undermine the integrity of our markets. So today’s proposal seeks to ensure our rules are operating as intended to prevent, rather than shield, trading on inside information and bolster investor confidence in our markets.
SEC Approves 2022 PCAOB Budget And Accounting Support Fee

Date 15/12/2021

The Securities and Exchange Commission today voted to approve the 2022 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee.