How can cryptocurrency companies use SEC Rule 10b-18 to conduct stock buybacks?

1 answers

• NaejNov 05, 2020 · 5 years ago
  To utilize SEC Rule 10b-18 for conducting stock buybacks, cryptocurrency companies need to follow a set of steps. First, they should establish a written plan that outlines the details of the buyback program, including the maximum number of shares to be repurchased and the duration of the program. This plan should be approved by the company's board of directors. Second, the buybacks should be conducted in compliance with the volume limitations and timing restrictions set forth in Rule 10b-18. This means that the purchases should not exceed certain limits based on the average daily trading volume and should not be made during certain restricted periods. Finally, the company should regularly report its buyback activities to the SEC to ensure transparency and adherence to the regulations.
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