SEC Reaffirms October 23, 2000
Effectiveness Date for Regulation FD
FOR IMMEDIATE RELEASE
Washington, D.C., October 12, 2000 The Securities and Exchange Commission late yesterday issued the following letter in response to requests to defer the implementation date of Regulation FD. The letter reaffirms the original October 23, 2000 effectiveness date and reminds issuers of the Commission staff's availability to offer interpretive guidance, both before and after Regulation FD becomes effective.
October 11, 2000
Louis M. Thompson, Jr.
President and Chief Executive Officer.
National Investor Relations Institute.
8045 Leesburg Pike, Suite 600
Vienna, Virginia 22182
- Re: Request for Delay of Effective Date of Regulation FD,
File No. S7-31-99
Dear Mr. Thompson:
Thank you for your letter of September 21, 2000 regarding the Commission's Regulation FD. In your letter you requested an extension of the rule's effective date from October 23, 2000 to December 29, 2000. Although the effective date will remain as October 23, 2000, please be assured that the staff is committed to helping affected parties understand and apply the new rule. As you note in your letter, Commission staff members have participated in public conferences to answer questions about Regulation FD. In addition, the Division of Corporation Finance's Office of Chief Counsel has been responding to telephone inquiries about Regulation FD issues. The staff has every intention of continuing to be available for and responsive to requests for interpretive guidance, both before and after Regulation FD becomes effective. Please call the Division's Office of Chief Counsel at 202-942-2900 with any specific inquiries you or your members may have.
Jonathan G. Katz
cc: Stanley Keller, Chair, Committee on Federal Regulation of Securities, American Bar Association; Stuart J. Kaswell, Senior Vice President and General Counsel, Securities Industry Association; Gerald S. Backman, Chair, Committee on Securities Regulation, New York State Bar Association; William R. Sawyers, Vice President, General Counsel and Secretary, Del Monte Foods Company; Rob Jones, General Counsel, Del Webb Corporation, Gregory C. Yadley, Shumaker, Loop & Kendrick, LLP; G. Penn Holsenbeck, Vice President, Associate General Counsel & Corporate Secretary, Philip Morris Companies, Inc.