In spite of requests to delay the implementation of Regulation Fair Disclosure, the Securities and Exchange Commission confirmed at press time that it would take effect on Oct. 23.
The SEC issued a bulletin Oct. 11 informing the mutual fund industry and others that they should be prepared to comply with Regulation FD as of Oct. 23. The SEC also said that commission staff, through the office of the chief counsel, will be available to offer interpretive guidance, both before and after Regulation FD takes effect.
The National Investor Relations Institute of Vienna, Va. had asked the SEC to delay the implementation of Regulation FD until Dec. 29, the SEC said.
The SEC said it declined this and other requests and that it will continue to be available to answer questions related to the new regulation.
The National Investor Relations Institute has called Regulation FD a "troubling issue," particularly with regards to how it would impede analysts from contacting issuers about earnings forecasts. The Association for Investment Management and Research of Charlottesville, Va. earlier had said that it planned to contest Regulation FD.
(MFMN 8/21/00)
