On December 15, the SEC proposed updates to rules regarding disclosure about repurchases of an issuer’s equity securities (or buybacks) registered under Section 12 of the Securities Exchange Act of 1934. The rule amendments would reinforce the current periodic disclosure requirements about purchases required to be provided in Form N-CSR for registered closed-end funds, Form 10-K and Form 10-Q for domestic issuers, and Form 20-F for foreign filers. The proposed amendments would also establish a new Form SR and require an issuer to utilize the new form to provide prompt disclosure regarding purchases of its equity securities.
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