Sunshine Act Meeting

[Federal Register Volume 64, Number 199 (Friday, October 15, 1999)]
[Notices]
[Page 55998]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-27155]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Pub. L. 94-409, that the Securities and 
Exchange Commission will hold the following meetings during the week of 
October 18, 1999.
    An open meeting will be held on Tuesday, October 19, 1999, at 10:00 
a.m. A closed meeting will be held on Tuesday, October 19, 1999, 
following the 10:00 a.m. open meeting.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meeting. 
Certain staff members who have an interest in the matters may also be 
present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(4), (8), (9)(A) and (10) and 17 CFR 200.402(a)(4), 
(8), (9)(i) and (10), permit consideration of the scheduled matters at 
the closed meeting.
    Commissioner Hunt, as duty officer, voted to consider the items 
listed for the closed meeting in a closed session.
    The subject matters of the open meeting scheduled for Tuesday, 
October 18, 1999, at 10:00 a.m. will be:
    The Commission will consider adopting amendments to the 
registration, proxy and tender offer rules relating to business 
combination transactions and security holder communications. If 
adopted, the amendments will permit increased communications with 
security holders, balance the treatment of cash and stock tender 
offers, and update, simplify and harmonize the rules and regulations 
governing business combination transactions. For further information, 
please contact Dennis O. Garris or James J. Moloney in the Office of 
Mergers and Acquisitions in the Division of Corporation Finance at 
(202) 942-2920.
    The Commission will consider adopting amendments to the tender 
offer and registration rules relating to cross-border transactions. 
U.S. residents holding stock in foreign issuers are often excluded from 
tender offers and rights offers for the foreign issuers' securities 
because of conflicts between U.S. and foreign regulation of these 
offers. Many foreign companies have been unwilling to comply with U.S. 
securities law requirements that they view as burdensome and are 
hesitant to subject themselves to increased litigation risk. As a 
result, U.S. shareholders of foreign issuers are unable to benefit from 
any premium offered in a tender offer or business combination or are 
unable to purchase additional securities at a discount in a rights 
offering. These amendments are intended to facilitate the inclusion of 
U.S. holders of foreign securities in tender and exchange offers, 
business combinations and rights offerings. For further information, 
please contact David Sirignano at (202) 942-2870, or Dennis O. Garris 
or Laura B. Baldian in the Division of Corporation Finance at (202) 
942-2920.
    The subject matter of the closed meeting scheduled for Tuesday, 
October 19, 1999, following the 10:00 a.m. open meeting, will be:
    Institution of injunctive actions.
    Institution and settlement of administrative proceedings of an 
enforcement nature.
    At times, changes in Commission priorities require alternations in 
the scheduling of meeting items. For further information and to 
ascertain what, if any, matters have been added, deleted or postponed, 
please contact: The Office of the Secretary at (202) 942-7070.

    Dated: October 12, 1999.
Jonathan G. Katz,
Secretary.
[FR Doc. 99-27155 Filed 10-13-99; 3:48 pm]
BILLING CODE 8010-01-M