[Federal Register Volume 65, Number 59 (Monday, March 27, 2000)]
[Proposed Rules]
[Page 16160]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-7433]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 230, 240, 243, and 249

[Release Nos. 33-7815, 34-42552, IC-24343, File No. S7-31-99]
RIN 3235-AH82


Selective Disclosure and Insider Trading

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule; extension of comment period.

-----------------------------------------------------------------------

SUMMARY: The Securities and Exchange Commission is extending the 
comment period for its proposed rules regarding selective disclosure 
and insider trading, contained in Release No. 33-7787, 64 FR 72590 
(Dec. 28, 1999). The original comment period ends March 29, 2000. The 
new deadline for submitting public comments is April 28, 2000.

DATES: Public comments are due on or before April 28, 2000.

ADDRESSES: Please send three copies of your comment letter to Jonathan 
G. Katz, Secretary, Securities and Exchange Commission, 450 5th Street, 
N.W., Washington, D.C. 20549-0609. Comments can also be sent 
electronically to the following e-mail address: [email protected]. 
Your comment letter should refer to File No. S7-31-99. If e-mail is 
used, include this file number on the subject line. Anyone can inspect 
and copy the comment letters in the Commission's Public Reference Room 
at 450 5th St., N.W., Washington, D.C. 20549. Electronically submitted 
comments will be posted on the Commission's Internet web site (http://www.sec.gov).

FOR FURTHER INFORMATION CONTACT: Richard A. Levine, Assistant General 
Counsel, Sharon Zamore, Senior Counsel, or Elizabeth Nowicki, Attorney, 
Office of the General Counsel, at (202) 942-0890.

SUPPLEMENTARY INFORMATION: On December 20, 1999, the Securities and 
Exchange Commission (Commission) issued a proposal for new rules to 
address three issues: the selective disclosure by issuers of material 
nonpublic information; whether insider trading liability depends on a 
trader's ``use'' or ``knowing possession'' of material nonpublic 
information; and when the breach of a family or other non-business 
relationship may give rise to liability under the misappropriation 
theory of insider trading. The proposals are designed to promote the 
full and fair disclosure of information by issuers, and to clarify and 
enhance existing prohibitions against insider trading. The deadline for 
submitting public comments established by the proposing release was 
March 29, 2000. The Commission has received requests to extend the 
deadline. We are therefore extending the comment period to April 28, 
2000 so that commenters have adequate time to address the issues raised 
by the proposing release.

    By the Commission.

    Dated: March 21, 2000.
Margaret H. McFarland
Deputy Secretary
[FR Doc. 00-7433 Filed 3-24-00; 8:45 am]
BILLING CODE 8010-01-P