[Federal Register Volume 70, Number 121 (Friday, June 24, 2005)]
[Notices]
[Pages 36670-36671]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-12647]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meetings

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Pub. L. 94-409, that the Securities and 
Exchange Commission will hold the following meetings during the week of 
June 27, 2005:

    An Open Meeting will be held on Wednesday, June 29, 2005, at 10 
a.m. in Room L-002, the Auditorium, at the Securities and Exchange 
Commission's new headquarters located at 100 F Street, NE., and a 
Closed Meeting will be held on Thursday, June 30, 2005 at 2 p.m.

    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the Closed Meeting. 
Certain

[[Page 36671]]

staff members who have an interest in the matters may also be present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B), and (10) and 17 CFR 
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the 
scheduled matters at the Closed Meeting.
    Chairman Donaldson, as duty officer, voted to consider the items 
listed for the closed meeting in closed session.
    The subject matters of the Open Meeting scheduled for Wednesday, 
June 29, 2005 will be:

    1. The Commission will consider whether to adopt final rules 
that would modify and advance significantly the registration, 
communications, and offering processes under the Securities Act of 
1933. The rules would eliminate unnecessary and outmoded 
restrictions on offerings. In addition, the rules would provide more 
timely investment information to investors without mandating 
inappropriate delays in the offering process. The rules also 
continue our long-term efforts toward integrating disclosure and 
processes under the Securities Act and the Securities Exchange Act 
of 1934. The rules accomplish these goals by addressing 
communications related to registered securities offerings, delivery 
of information to investors, and procedural restrictions in the 
offering and capital formation process.
    For further information, please contact Amy Starr, Daniel 
Horwood, or Anne Nguyen, Division of Corporation Finance, at (202) 
551-3115 or, with regard to investment companies, Kieran Brown, 
Division of Investment Management, at (202) 551-6825.
    2. The Commission will consider whether to adopt final rules 
amending Form S-8, Form 8-K, and Form 20-F, as well as defining the 
term ``shell company'' and amending the definition of the term 
``succession.'' The rules would address: (1) The use of Form S-8 by 
shell companies; and (2) the information required to be disclosed in 
a report on Form 8-K or Form 20-F filed when a company becomes a 
shell company or ceases to be a shell company. The rules are 
designed to assure that investors in shell companies that acquire 
operations or assets have access on a timely basis to the same kind 
of information as is available to investors in public companies with 
continuing operations.
    For further information, please contact Gerald J. Laporte, 
Chief, or Kevin M. O'Neill, Special Counsel, Office of Small 
Business Policy, Division of Corporation Finance, at (202) 551-3460.
    3. The Commission will consider the matters remanded to the 
Commission by the U.S. Court of Appeals for the District of Columbia 
Circuit on June 21, 2005 in its decision in Chamber of Commerce v. 
SEC regarding the Commission's ``Investment Company Governance'' 
rules (69 FR 46378 (Aug. 2, 2004)). The remanded matters, as 
discussed more fully in the court's opinion (http://www.cadc.uscourts.gov), are (1) costs of complying with the 75% 
independent director condition and the independent chairman 
condition and (2) a disclosure alternative to the independent 
chairman condition.
    For further information, please contact Penelope Saltzman, 
Division of Investment Management, at (202) 551-6792.

    The subject matters of the Closed Meeting scheduled for Thursday, 
June 30, 2005, will be:
    Post-argument discussion;
    Settlement of injunctive actions; Institution and settlement of 
administrative proceedings of an enforcement nature; and an 
Adjudicatory matter.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact:
    The Office of the Secretary at (202) 551-5400.

    Dated: June 22, 2005.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 05-12647 Filed 6-22-05; 11:43 am]
BILLING CODE 8010-01-P