Petition Rule

Request for rulemaking under the Securities Act of 1933 to amend Rule 144 to remove the prohibition in Rule 144(i) on shareholders who acquired shares when an issue was a "shell company" or former "shell company" from being able to utilize Rule 144 for a sale of unregistered securities if the issuer has not filed its Securities Exchange Act of 1934 reports for the one year prior to the proposed sale, other than in the first year following each date the issuer ceases to be a shell company and releases "Form 10 information"

Last Reviewed or Updated: Oct. 1, 2008