Proposed Rules. Proposed rule; extension of comment period

Agency: Securities and Exchange Commission
Action: Proposed rule; extension of comment period
Citation: FR Doc. 00-7433 · RIN 3235-AH82 · Release Nos. 33-7815, 34-42552, IC-24343, File No. S7-31-99 · 17 CFR 230, 240, 243, 249

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.

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]