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SEC | RIN: 3235-AH48 | Publication ID: Spring 1999 |
Title: Purchases of Certain Equity Securities by the Issuer and Others | |
Abstract: In response to a petition for rulemaking filed by the New York Stock Exchange Inc., the Commission is proposing to modify the timing condition in current Rule 10b-18 to extend the manipulation safe harbor to issuer bids for and purchase of its common stock: (1) that are effected either (i) at the reopening of trading and during the last half-hour prior to the scheduled close of trading during the trading session immediately following, and on the same day as, a market-wide trading suspension, or (ii) at the next day's opening, if the market-wide trading suspension is in effect at the scheduled close of trading; and (2) that comply with the manner, pricing and volume conditions in Rule 10b-18. | |
Agency: Securities and Exchange Commission(SEC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 17 CFR 240.10b-18 | |
Legal Authority: 15 USC 78i(a)(2) 15 USC 78j(b) |
Timetable:
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Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: None |
Small Entities Affected: Businesses | |
Included in the Regulatory Plan: No | |
Agency Contact: Michael Coe Assistant Director, Division of Trading and Markets Securities and Exchange Commission 100 F Street NE, Washington, DC 20549 Phone:202 551-4875 Email: coem@sec.gov |