SEC Buyback-Disclosure Rule Stirs Worry Over Costs and Compliance

Finance executives are bracing for higher costs and unintended consequences from new federal disclosure requirements on share repurchases, the latest in a series of moves by lawmakers and regulators to curb the popularity of stock buybacks. 

The Securities and Exchange Commission on Wednesday approved a rule requiring most companies to provide daily buyback amounts at the end of each quarter, rather than the monthly amounts that they have to supply now. In addition, companies will have to check a box if their officers and directors purchased or sold shares within four business days of announcing a buyback program.