|
The SOA is an organization that is working toward identifying
problems and creating solutions for the securities industry. We
need your participation in committees to address today's problems,
as well as tomorrow issues. If you are interested in participating
in a committee or wish to provide feedback on a problem or issue,
please contact the committee chairperson highlighted below:
|
|
Prospectus Committee: As you should be aware by now, the SEC recently passed a new Prospectus Delivery requirement rule (Rule 172 - Access = Delivery) which, in general, eliminates the need for the physical mailing of a Final
Prospectus on specific SEC Registered transactions.
This is a big initiative for both Syndicate as well as non-Syndicate members. This rule change effects prospectus and confirmation distributions for IPO's and add-on and certain Fixed Income Securities. The SOA would like to form a sub-committee to discuss the various Rule changes. The sub-committee would meet weekly and we would like to open the meeting to those who wish to commit and their internal Legal, Operations and Capital Markets members. The purpose of forming the sub-committee is to try and create a uniform procedure for Prospectus requirement rules surrounding this new rule, for Proprietary offerings and for the distribution of Prospectuses for certain non-registered transaction as well.
Please e-mail AnnaMarie Freeman or Stephen Ficara by Thursday September 29, 2005if you are interested in joining this committee. We encourage your participation as we feel this is one of the most important initiatives to reach our industry in some time. Please take the commitment to join this committee seriously as we will be meeting on a weekly basis as the Rule changes will take effect on December 1, 2005.
|