On December 6, the Securities and Exchange Commission published its final rule on shareholder proposals relating to the election of directors, amending Rule 14a-8(i)(8) under the Securities Exchange Act of 1934, as described in the November 30, 2007 edition of Corporate and Financial Weekly Digest.
The SEC has also announced that at its open meeting on December 11, it will consider the adoption of its proposed revisions to the eligibility requirements for Form S-3 and Form F-3 of the Securities Act of 1933 to allow companies that do not meet the current public float requirements of the forms to nevertheless register primary offerings of their securities, subject to certain restrictions, including the amount of securities those companies may sell pursuant to the expanded eligibility standard in any one-year period. It will also consider at that meeting whether to adopt amendments to mandate electronic filing of Form D and revise the information requirements of such Form.
Finally, as we go to press, the SEC made available its amendments to Rules 144 and 145 under the Securities Act of 1933. Next week’s edition of Corporate and Financial Weekly Digest will provide details.