95-15613. SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 60, Number 121 (Friday, June 23, 1995)]
[Sunshine Act Meetings]
[Pages 32734-32735]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-15613]



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SECURITIES AND EXCHANGE COMMISSION

    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 
June 26, 1995.
    An open meeting will be held on Tuesday, June 27, 1995, at 10:00 
a.m. A closed meeting will be held on Tuesday, June 27, 1995, following 
the 10:00 a.m. open meeting.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meetings. 
Certain staff members who have an interest in the matters may also be 
present. [[Page 32735]] 
    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 Roberts, as duty officer, voted to consider the items 
listed for the closed meeting in a closed session.
    The subject matter of the open meeting scheduled for Tuesday, June 
27, 1995, at 10:00 a.m., will be:

    1. Consideration of a release expressing the views of the 
Commission concerning problematic practices under Regulation S of 
the Securities Act of 1933. In connection with these practices, 
consideration of proposals (a) designed to streamline requirements 
with respect to financial statements of significant acquisitions by 
eliminating certain impediments to registered offerings of 
securities under the Securities Act of 1933 and by providing an 
automatic 75-day waiver for reports under the Securities Exchange 
Act of 1934 for certain unavailable acquiree financial statements 
and (b) requiring registrants to report on a quarterly basis recent 
sales of equity securities that have not been registered under the 
Securities Act of 1933. For further information, contact: Paul Dudek 
or Annemarie Tierney, Office of International Corporate Finance, 
Division of Corporation Finance, at [phone], or Douglas 
Tanner, Office of Chief Accountant, Division of Corporation Finance, 
at [phone].
    2. Consideration of a recommendation to propose revisions to 
rules under the Securities Exchange Act of 1934 to double the total 
assets threshold for Section 12(g) registration from $5 million to 
$10 million. For further information, contact: Richard K. Wulff, 
Office of Small Business Policy, Division of Corporation Finance, at 
[phone].
    3. Consideration of a recommendation to propose regulations that 
would implement a system whereby registrants could choose to include 
abbreviated financial statements in annual reports and other 
disclosure documents that are delivered to investors. For further 
information, contact: Elizabeth M. Murphy or William B. Haseltine, 
Office of Disclosure Policy, Division of Corporation Finance, at 
[phone].
    4. Consideration of a recommendation to propose streamlining the 
proxy statement by permitting certain executive compensation 
information to be provided in the annual report on Form 10-K; 
consideration of a recommendation to improve the presentation of 
director compensation disclosure. For further information, contact: 
Elizabeth M. Murphy or William B. Haseltine, Office of Disclosure 
Policy, Division of Corporation Finance, at [phone].
    5. Consideration of a recommendation to propose a new Section 
3(b) exemption from the registration requirements of the Securities 
Act of 1933 for issues of up to $5 million where the securities are 
offered and sold in reliance on a recently adopted California 
qualification exemption, and to solicit comment on whether the 
prohibition against general solicitation in certain Regulation D 
offerings should be reconsidered in light of the new California 
exemption's approach to this issue. For further information, 
contact: Richard K. Wulff, Office of Small Business Policy, Division 
of Corporation Finance, at [phone], or James R. Budge, Office 
of Disclosure Policy, Division of Corporation Finance, at (202) 942-
2910.
    6. Consideration of whether to propose amendments to the 
Securities Act rules that would allow issuers to solicit interest in 
their companies prior to the filing of a Securities Act registration 
statement for an initial public offering. For further information, 
contact: Richard K. Wulff, Office of Small Business Policy, Division 
of Corporation Finance, at [phone], or James R. Budge, Office 
of Disclosure Policy, Division of Corporation Finance, at (202) 942-
2910.
    7. Consideration of a recommendation to propose amendments to 
the holding period requirements contained in Rule 144(d) and (k) 
under the Securities Act of 1933 to permit limited resales of 
``restricted'' securities after a one-year, rather than a two-year 
holding period, and free resales by non-affiliated shareholders 
after a two-year, rather than a three-year holding period. Further, 
comment would be requested on whether Rule 144 should be revised to 
address new trading strategies, such as equity swaps, and a reminder 
would be issued to persons subject to the reporting requirements of 
Section 16 under the Securities Exchange Act of 1934 that these 
transactions are required to be reported. For further information, 
contact: Richard K. Wulff, Office of Small Business Policy, Division 
of Corporation Finance, at [phone].

    The subject matter of the closed meeting scheduled for Tuesday, 
June 27, 1995, following the 10:00 open meeting, will be:

    Institution of administrative proceedings of an enforcement 
nature.
    Institution of injunctive actions.
    Settlement of injunctive actions.
    Settlement of administrative proceedings of an enforcement 
nature.
    Formal orders of investigation.
    Opinions.

    At times, changes in Commission priorities require alterations in 
the scheduling 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 [phone].

    Dated: June 21, 1995.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-15613 Filed 6-21-95; 3:54 pm]
BILLING CODE 8010-01-M