99-3950. Sunshine Act Meeting

[Federal Register Volume 64, Number 31 (Wednesday, February 17, 1999)]
[Notices]
[Pages 7930-7931]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-3950]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Pub. L. 94-409, that the Securities and 
Exchange Commission will hold the following meetings during the week of 
February 15, 1999.
    A closed meeting will be held on Thursday, February 18, 1999, at 
11:00 a.m. An open meeting will be held on Friday, February 19, 1999, 
at 10:00 a.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meeting. 
Certain staff members who have an interest in the matters may also be 
present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(4), (8), (9)(A), and (10) and 17 CFR 200.402(a)(4), 
(8), (9)(i) and (10), permit consideration of the scheduled matters at 
the closed meeting.
    Commissioner Hunt, as duty officer, voted to consider the items 
listed for the closed meeting in a closed session.
    The subject matter of the closed meeting scheduled for Thursday, 
February 18, 1999, at 11:00 a.m., will be:

Institution and settlement of administrative proceedings of an 
enforcement nature.
Institution and settlement of injunctive actions.
Formal order of investigation.
Opinions.

    The subject matter of the open meeting scheduled for Friday, 
February 19, 1999, at 10:00 a.m., will be:
    (1) Consideration of whether to adopt revisions to Rule 701 of the 
Securities act to remove the $5 million aggregate offering price 
ceiling and set the maximum amount of securities that may be sold in a 
12-month period to a more appropriate limit based upon the size of the 
issuer. The revised rule also would require specific disclosure from 
all issuers that sell more than $5 million in a 12-month period and 
harmonize the definition of consultant and advisor to the definition in 
Form S-8. For further information, please contact Richard K. Wulff at 
[phone].
    (2) Consideration of whether to adopt amendments to Securities Act 
Form S-8, the streamlined form companies use to register sales of 
securities to their employees, and Securities Act Form S-3. The 
amendments would: (a) restrict the use of Form S-8 for the sale of 
securities to consultants and advisors; (b) allow Form S-8 to be used 
for the

[[Page 7931]]

exercise of employee benefit plan stock options by family members of 
employee optionees; and (c) make Form S-3 available to register 
securities to be received upon the exercise of outstanding warrants and 
options, whether or not transferable. The Commission also will consider 
proposing further amendments to Form S-8 designed to deter abuse of 
that form to register securities for capital-raising or promotional 
purposes. For further information, please contact Anne Krauskopf at 
[phone].
    (3) Consideration of whether to repropose amendments to Rule 15c2-
11 under the Securities Exchange Act of 1934. Rule 15c2-11 governs the 
publication of quotations by broker-dealers for over-the-counter 
securities. For further information contact: Irene A. Halpin or 
Florence E. Harmon at [phone]. At times, changes in Commission 
priorities require alterations in the schedule of meeting items. For 
further information and to ascertain what, if any, matters have been 
added, deleted or postponed, please contact:
    The Office of the Secretary at [phone].

    Dated: February 12, 1999.
Jonathan G. Katz,
Secretary.
[FR Doc. 99-3950 Filed 2-12-99; 11:14 am]
BILLING CODE 8010-01-M