SEC eases pre-offering 'quiet period' rules

[maddezmom]

WASHINGTON (Reuters) - Companies selling stock to the public will be allowed to talk more freely under a rule approved on Wednesday in a unanimous vote by the U.S. Securities and Exchange Commission.

Moving to overhaul 1930s-era rules against misleading hype in stock offerings, the SEC voted to largely drop the so-called "quiet period" preceding offerings for very large companies.

The SEC said the new rules are meant to reflect the greatly expanded volume and scrutiny now given stock offerings with the emergence of electronic communications and the wider involvement of Americans in the markets.

The new rules will let large corporations with records of well-managed stock offerings discuss -- and in some circumstances even advertise -- new offerings.

more: http://news.yahoo.com/s/nm/20050629/pl_nm/financial_sec_quiet_dc;_

[Gothmog]

1. cool

I had a deal die because someone talk to the press during the quiet period.