Corporate Buybacks Get Paperwork Lifeline from SEC
Published Date: 1/9/2026
Notice
Summary
The SEC is asking for public feedback to keep using and extend Rule 13e-3, which helps companies share important info when they’re buying back their own stock. This rule affects companies involved in these buybacks and keeps paperwork clear and consistent, now also approved for use by the Federal Reserve. No big changes or costs are expected, but the SEC wants to keep everything running smoothly and on time.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Filing Burden and Outside Cost for Issuers
Schedule 13E-3 is filed about once per year by roughly 41 issuers. The SEC estimates each response takes 138.70 hours, with 25% (about 34.68 hours) billed internally for a total annual internal burden of 1,422 hours, and 75% handled by outside professionals at $600 per hour for a total annual external cost of $2,559,015.
Maintains Investor Disclosures for Going-Private Deals
Rule 13e-3 and Schedule 13E-3 require filing, disclosure, and dissemination for certain going-private transactions so investors are appropriately informed. The SEC is seeking OMB extension of this information collection to continue those disclosure requirements.
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