Law Blog Category: Rule 10b-18

Public Company and Affiliate Stock Buyback Rules; Rule 10b-18

SEC Stock Buyback Rules Examined

December 04, 2009 in Rule 10b-18, SEC Guidance

SEC Rule 10b-18 provides issuers with a safe harbor from liability for market manipulation under Sections 9(a)(2) and 10(b) of the Exchange Act and Rule 10b-5 under the Exchange Act when issuers bid for or repurchase their common stock in the market in accordance with the Rule’s manner, timing, price and volume conditions. Each of the conditions of Rule 10b-18 must be satisfied on each day that a repurchase is made.