Utah Attorney General Sean D. Reyes led 14 other states in filing an Amicus Brief on July 18 in support of the U.S. Chamber of Commerce, which is challenging the Securities and Exchange Commission’s new rules on stock buyback reporting.
The coalition of attorneys general pointed out in the brief, “…stock buybacks are an important, economically beneficial way companies return value to shareholders and reallocate capital. Corporate governance traditionally is a matter of state, not federal regulation, and Amici States oppose inefficient, burdensome regulations on stock buybacks.”
Source: Attorneys general challenge SEC’s stock buyback rule • The Georgia Virtue
