To temporarily ban stock buybacks until the impact of COVID-19 on the American financial system has ended.

This bill prohibits an issuer of securities from purchasing their own securities during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days thereafter. The Securities and Exchange Commission (SEC) may terminate the ban before the end of this period if the SEC (1) determines doing so is in the public interest, and (2) provides notice.