The Chamber scored a major victory against government overregulation on Tuesday. In the Chamber’s lawsuit challenging the SEC’s stock buybacks rule, a federal appeals court ordered a redo.
Why it matters: Stock buybacks help companies grow their businesses and deliver value to investors – including America’s retirement savers.
Details: The court found that the SEC acted arbitrarily and capriciously by neglecting to conduct a thorough cost-benefit analysis even after we suggested it do so.
- And: The court criticized the rule, referring to it as “as clear as mud” and identifying “illogical” and “internally contradictory” aspects in the SEC’s analysis.
Our take: This is a victory for the ability of companies to make business decisions free from government micromanagement.
- The court’s decision underscores how the regulatory tsunami caused by the SEC’s hurried rulemaking process is damaging American capital markets.
Big picture: Our policy teams develop sound arguments through comment letters to federal agencies, our federation builds support among our state and local chamber partners, and our Litigation Center takes the toughest, most important cases to court, consistently delivering results for our members.
Information courtesy of U.S. Chamber of Commerce, please see this post for more information on this legal victory.