Several large banks planning significant share repurchases will have to delay them because of a recent Securities and Exchange Commission guideline, a prominent Wall Street analyst said.

The SEC's professional accounting fellow, Mary Gokar, said in a speech last month that the commission probably would reject companies' plans to repurchase shares in the six months following a pooling-of-interest merger, reported Ronald I. Mandle, a bank analyst at Sanford C. Bernstein & Co.

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