FEI Invites Comments On SEC Selective Disclosure Proposals.
The SEC will examine 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. Public comments are due on or before March 29, 2000.
In addition, the SEC is proposing to reposition certain schedule information currently required under Rule 12-09 of Regulation S-X within a new Item 302(c) of Regulation S-K to specify the disclosures to be provided by registrants concerning changes in valuation and loss accrual accounts. It also proposes to add another new Item 302(d) of Regulation S-K to elicit certain information concerning tangible and intangible long-lived assets and related accumulated depreciation, depletion and amortization. A new Item 8C also would be added to the recently revised Form 20-F. The rule proposals are intended to provide investors with more transparent, better detailed disclosures concerning changes in valuation and loss accrual accounts and in the underlying accounting assumptions, and more detailed information to assess the effects of useful lives assigned to long-lived assets. Comments should be received by April 17, 2000.
Send your comment letters to Susan Koski-Grafer, FEI's vice president of technical activities, at email@example.com.
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|Article Type:||Brief Article|
|Date:||Mar 1, 2000|
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