SEC Makes Announcement Regarding Share Disclosure Modernization Rule

The SEC recently released an announcement related to the Commission’s final rule on modernization of the share repurchase disclosure requirements (issued in May 2023), which had been vacated by the U.S. Fifth Court of Appeals on December 19, 2023. Specifically, the announcement reminds readers that, because the final rule has been vacated, the requirements that were in effect before its release continue to be applicable.