Regulatory Notice 07-34
SEC Approves Amendments Relating to the Issuer-Directed Provisions of Rule 2790; Effective Date: September 5, 2007
On June 7, 2007, the SEC approved amendments to Rule 2790 to prohibit issuer-directed allocations of new issues to broker-dealers and to provide an exemption for issuer-directed non-underwritten offerings.1 The Rule, as amended, is set forth in Attachment A of this Notice. The amendments become effective on September 5, 2007.
Questions concerning this Notice may be directed to Gary L. Goldsholle, Vice President and Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8104; or Afshin Atabaki, Assistant General Counsel, OGC, at (202) 728-8902.
1 See Securities Exchange Act Release No. 55878 (June 7, 2007), 72 FR 32936 (June 14, 2007) (Order Approving Proposed Rule Change Relating to the Application of Rule 2790 to Issuer-Directed Securities; File No. SR-NASD-2006-074).
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