SEC Proposal to Overhaul Securities Offerings – Paul, Weiss Comments

SEC Proposal to Overhaul Securities Offerings – Paul, Weiss Comments

My alma mater law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP has a recent publication online entitled SEC Proposes to Overhaul Various Aspects of the Securities Offering Process in the United States.

See the recent October 27, 2004 SEC press release on that reform.

Paul, Weiss writes:

“The SEC has proposed major modifications to the offering process for raising capital under the Securities Act of 1933. The proposals address communications related to registered offerings of securities, delivery of information to investors and registration and other procedures in the offering and capital formation process.

The proposals are the most recent initiative in a long line of attempts to modernize the offering process and to refocus the registration process on the disclosure regime under the Securities Exchange Act of 1934. The proposals represent incremental changes in the regulatory structure and offering process, and are designed to further integrate the Securities Act and the Exchange Act (in part by taking advantage of the recent enhancements to Exchange Act disclosure, thus allowing the SEC to rely on these reports to a far greater degree as a cornerstone of reforming the offering process)”….

See the Paul, Weiss site for a detailed discussion (a 48 page .pdf). The Law Pundit sees that Richard S. Borisoff, with whom the Law Pundit used to work, is one of the authors of the publication. In case he should see this posting, greetings.

The LawPundit used to write SEC registrations so that we understand well what is involved in these regulations and proposals. Hence, it is certain that all corporate attorneys involved in SEC work should take a look at this publication.

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