

[Federal Register: November 14, 2007 (Volume 72, Number 219)]
[Notices]               
[Page 64094]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr14no07-82]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Sunshine Act Meeting

    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 an Open Meeting on Thursday, November 15, 
2007 at 10 a.m., in Room L-002, the Auditorium.
    The subject matters of the Open Meeting will be:
    1. The Commission will consider rule proposals to improve mutual 
fund disclosure by providing investors with a summary prospectus 
containing key information in plain English in a clear and concise 
format, and by enhancing the availability on the Internet of more 
detailed information to investors. The Commission also will consider 
whether to propose related amendments to Form N-1A.
    2. The Commission will consider whether to adopt amendments to Form 
20-F, Rules 1-02, 3-10 and 4-01 of Regulation S-X, Forms F-4 and S-4, 
and Rule 701 under the Securities Act to accept financial statements 
prepared in accordance with International Financial Reporting Standards 
as issued by the International Accounting Standards Board without 
reconciliation to generally accepted accounting principles as used in 
the United States when contained in the filings of foreign private 
issuers with the Commission.
    3. The Commission will consider whether to adopt amendments to its 
disclosure and reporting requirements under the Securities Act of 1933 
and Securities Exchange Act of 1934 to expand the number of companies 
that qualify for scaled disclosure requirements for smaller reporting 
companies. Companies with less than $75 million in public equity float 
would qualify for the scaled requirements, and companies without a 
calculable public equity float would qualify if their annual revenues 
were below $50 million. To streamline and simplify regulation, the 
amendments to be considered would move the scaled disclosure 
requirements from Regulation S-B into Regulation S-K and would 
eliminate the ``SB'' forms.
    4. The Commission will consider whether to adopt amendments to Rule 
144 to shorten the holding period for the resale of restricted 
securities if the issuer of the securities is subject to the Exchange 
Act reporting requirements. The amendments also substantially reduce 
the restrictions applicable to resales of restricted securities by non-
affiliates of both reporting and non-reporting companies. In addition, 
the amendments codify several staff interpretations relating to Rule 
144 and revise the manner of sale requirements, volume limitations, and 
Form 144 filing thresholds. Finally, the Commission also will consider 
whether to adopt related amendments to Rule 145.
    5. The Commission will consider whether to adopt amendments to Rule 
12h-1 under the Exchange Act to provide two exemptions from the 
registration requirements of the Exchange Act for compensatory employee 
stock options. The first exemption would be available to issuers that 
are not required to file periodic reports under the Exchange Act, and 
the second exemption would be available to issuers that are required to 
file those reports because they have registered a class of security 
under section 12 of the Exchange Act or are required to file those 
reports pursuant to section 15(d) of the Exchange Act.
    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: November 7, 2007.
Nancy M. Morris,
Secretary.
[FR Doc. E7-22169 Filed 11-13-07; 8:45 am]

BILLING CODE 8011-01-P
