SEC Tells 5th Circuit It Was Unable To Fix Stock Buyback Rule By Deadline

(December 4, 2023, 3:28 PM EST) -- NEW ORLEANS — After the Fifth Circuit U.S. Court of Appeals denied a request for more time, the Securities and Exchange Commission told the court in a letter that it was unable to cure errors in a new stock buyback rule by the Nov. 30 deadline set by the court after it found that the SEC had not adequately established that stock buybacks pose a risk to investors....