WASHINGTON, D.C. – Tom Quaadman, Executive Vice President, Center for Capital Markets Competitiveness (CCMC) at the U.S. Chamber of Commerce issued the following statement today after the SEC announced a final rule on share repurchase agreements.
“Share repurchase agreements (also known as stock buybacks) improve returns for savers and investors across the economy while at the same time ensuring that capital flows to where it is most likely to result in investments that grow our economy and improve our standard of living. Today’s rule by the Securities and Exchange Commission to disincentivize share repurchases will hurt the retirement savings of millions of Americans and result in slower economic growth – hurting the wages of working Americans. Market regulations should reflect economic realities, and it is unfortunate that the SEC chose to prioritize political policies over American investors and the best interests of our economy. The U.S. Chamber will carefully evaluate the impact of this rule and if it looks at all like the proposed rule, we will pursue litigation to protect investors.”
