Registration of Securities on Form S-8

The Securities and Exchange Commission ("Commission') is publishing for comment proposed amendments to Form S-8 and related rules under the Securities Act and Regulations S-K and S-B to restrict the use of the form for the sale of securities to consultants and advisors, and to allow the use of the form for the exercise of stock options by family members of employee optionees. The first set of proposals is intended to eliminate the abuse of Form S-8 purportedly to register offerings to consultants and advisors who then act as statutory underwriters to sell the securities to the general public, and to register securities issued as compensation to consultants who promote the registrant's securities. The second set of proposals is intended to facilitate legitimate employee estate planning transactions and other intra-family transfers.