WASHINGTON, D.C. — Today, the U.S. Chamber of Commerce obtained a major victory for American businesses, investors, and retirement savers after the Fifth Circuit Court of Appeals vacated the Securities and Exchange Commission’s (SEC) stock buyback rule. U.S. Chamber of Commerce President and CEO Suzanne P. Clark issued the following statement following the Chamber’s victory.
“The Fifth Circuit’s decision on buybacks is a big win for American businesses, investors, and retirees over government micromanagement. The court’s decision to vacate this rule underscores a much deeper problem as the SEC rushes to adopt a slew of ideologically driven rules: a failure to even consider the cost and impact these regulations will have on companies, U.S. capital markets, and investors. The Chamber is hopeful that the court’s decision will cause the SEC to take pause before it attempts to move forward on its more far-reaching and aggressive agenda.”