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Capitol Report: SEC’s Jackson says research he’s conducted shows corporate insiders are using buybacks to cash out

Company insiders sell more shares surrounding buyback announcements than on ordinary days, says a commissioner of the Securities and Exchange Commission, continuing a Washington, D.C. offensive against the practice.

SEC Commissioner Robert Jackson confirmed and expanded on earlier previous research conducted by his office the study in response to an inquiry from Sen. Chris Van Hollen, a Democrat from Maryland. Van Hollen had asked Chairman Jay Clayton if he was concerned that an earlier study prepared by Jackson’s office found twice as many company insiders sell their shares in the eight days after a buyback announcement than on an ordinary day.

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