Securities and Exchange Commission July 5, 2007 – Federal Register Recent Federal Regulation Documents

Notice of Applications for Deregistration under Section 8(f) of the Investment Company Act of 1940
Document Number: E7-12944
Type: Notice
Date: 2007-07-05
Agency: Securities and Exchange Commission, Agencies and Commissions
Applicant seeks an order declaring that it has ceased to be an investment company. On May 31, 2007, applicant made its final liquidating distribution to its shareholders, based on net asset value. Applicant incurred no expenses in connection with the liquidation. Filing Dates: The application was filed on June 6, 2007, and amended on June 25, 2007. Applicant's Address: 1401 Woodsong Dr., Hendersonville, NC 28791.
RealNetworks, Inc.; Notice of Application
Document Number: E7-12943
Type: Notice
Date: 2007-07-05
Agency: Securities and Exchange Commission, Agencies and Commissions
Proposed Collection; Comment Request
Document Number: E7-12939
Type: Notice
Date: 2007-07-05
Agency: Securities and Exchange Commission, Agencies and Commissions
Revisions to Rule 144 and Rule 145 to Shorten Holding Period for Affiliates and Non-Affiliates
Document Number: 07-3217
Type: Proposed Rule
Date: 2007-07-05
Agency: Securities and Exchange Commission, Agencies and Commissions
Rule 144 under the Securities Act of 1933 creates a safe harbor for the sale of securities under the exemption set forth in Section 4(1) of the Securities Act. We are proposing a six-month holding period requirement under Rule 144 for ``restricted securities'' of companies that are subject to the reporting requirements of the Securities Exchange Act of 1934. The proposed six-month holding period for restricted securities of reporting companies would be extended, for up to an additional six months, by the amount of time during which the security holder has engaged in hedging transactions. Restricted securities of companies that are not subject to the Exchange Act reporting requirements would continue to be subject to a one-year holding period prior to any public resale. We also propose to substantially reduce the restrictions on the resale of securities by non-affiliates. In addition, we propose to simplify the Preliminary Note to Rule 144, eliminate the manner of sale restrictions with respect to debt securities, increase the Form 144 filing thresholds, and codify several staff interpretive positions that relate to Rule 144. We also solicit comment on how best to coordinate Form 144 and Form 4 filing requirements. Finally, we propose amendments to Securities Act Rule 145, which establishes resale limitations on certain persons who acquire securities in business combination transactions, to eliminate the presumptive underwriter position in Rule 145(c), except for transactions involving a shell company, and to revise the resale requirements in Rule 145(d). We believe that the proposed changes will increase the liquidity of privately sold securities and decrease the cost of capital for all companies without compromising investor protection.