Corporate And Financial Weekly Digest – June 29, 2007

SEC/Corporate

Robert L. Kohl, Mark A. Conley and David A. Pentlow

SEC Proposes Amendments to Rule 144 and Rule 145

On June 22, the Securities and Exchange Commission proposed amendments to Rule 144 which would, among other things:

shorten the required holding period for restricted securities of reporting companies to six months;

toll the holding period for up to six months for restricted securities if a holder engaged in certain hedging transactions;

eliminate manner of sale restrictions with respect to debt securities;

increase Form 144 filing thresholds and integrate Form 144 and Form 4 filing requirements; and

codify several staff interpretive positions on Rul...

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