On September 18, the Securities and Exchange Commission issued an emergency order to temporarily amend Rule 10b-18, generally suspending the time of day requirements and liberalizing the total volume limitations of the Rule 10b-18 safe harbor afforded to issuers in connection with repurchases of their securities. For more detailed information regarding the temporary amendment, see the September 26, 2008 edition of Corporate and Financial Weekly Digest.
The temporary amendment was due to expire at 11:59 p.m. ET on October 2. However, on October 1 the SEC extended its emergency order through 11:59 p.m. ET on October 17. No change was made to the September 18 order.