[Federal Register Volume 59, Number 250 (Friday, December 30, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-32152]


[[Page Unknown]]

[Federal Register: December 30, 1994]


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SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 33-7125; 34-35145; 35-26202; 39-2328; IC-20796; File No. 
S7-29-94]

 

Safe Harbor for Forward-Looking Statements

AGENCY: Securities and Exchange Commission.

ACTION: Notice of additional hearings.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
announcing that public hearings will be held in San Francisco, 
California concerning the effectiveness of the safe harbor provisions 
for forward-looking statements (set forth in Rule 175 under the 
Securities Act of 1933 (``Securities Act''), Rule 3b-6 under the 
Securities Exchange Act of 1934 (``Exchange Act''), Rule 103A under the 
Public Utility Holding Company Act of 1935 and Rule 0-11 under the 
Trust Indenture Act of 1939.
    On October 13, 1994, the Commission issued a concept release 
soliciting comment on, among other matters, whether the safe harbor 
adequately encourages issuers to disclose forward-looking 
information.\1\ In that release, the Commission announced that hearings 
would begin in Washington, DC on February 13, 1995 to further consider 
the issues raised. In an effort to make those hearings more accessible, 
the Commission is announcing that hearings also will be held in San 
Francisco, California beginning February 16, 1995 at 10:00 a.m. Those 
who wish to testify should notify the Commission in writing of their 
intention to appear. The written notification should include a brief 
summary of the proposed testimony. Those who do not wish to appear at 
the hearings are reminded that they may submit written testimony for 
inclusion in the hearing record. The schedule of appearances, date for 
submission of final written testimony by persons who will appear, and 
an agenda for the hearings will be announced by the Commission shortly 
before the hearings commence.

    \1\Securities Act Release 33-7101 (October 13, 1994), 59 Fed. 
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Reg. 52723 (October 19, 1994).

DATES: Public hearings will begin in San Francisco, California at 10:00 
a.m. on February 16, 1995. Those who wish to testify at the hearings 
must notify the Commission in writing of their intention to appear on 
or before January 18, 1995. The written notification should include a 
brief summary of the proposed testimony. Those who do not wish to 
appear at the hearings may submit written testimony on or before 
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January 18, 1995 for inclusion in the hearing record.

ADDRESSES: The hearings will be held in San Francisco, California at a 
location to be announced at a later date. Persons wishing to submit 
notice of an intent to appear at the hearings or written testimony 
should file three copies thereof with Jonathan G. Katz, Secretary, 
Securities and Exchange Commission, 450 Fifth Street, NW., Washington, 
DC 20549. All written notice, comments and testimony should refer to 
File No. S7-29-94. All written material will be available for public 
inspection and copying in the Commission's Public Reference Room, 450 
Fifth Street, NW., Washington, DC 20549.

FOR FURTHER INFORMATION CONTACT:
Amy Bowerman Freed, Kevin C. Bruce or Andrew A. Gerber, Division of 
Corporation Finance at (202) 942-2900.

Public Hearings

    In view of the broad interest, as well as the importance and 
complexity of the issues addressed in the concept release, the 
Commission believes that public hearings should also be conducted in 
California after the close of the comment period. Among other matters, 
these hearings will explore the assumptions underlying the different 
views expressed by these and other members of the public. Testimony 
from witnesses will be elicited about the efficacy and potential 
effects of different safe harbor approaches, the costs and benefits of 
each approach, the design of any safe harbor and issues that may be 
raised by the comment letters. After these hearings, the Commission 
will determine whether to propose amendments to the rules regarding 
forward-looking information.

    Dated: December 23, 1994.

    By the Commission.
Jonathan G. Katz,
Secretary.
[FR Doc. 94-32152 Filed 12-29-94; 8:45 am]
BILLING CODE 8010-01-M