Securities and Exchange Commission December 31, 2007 – Federal Register Recent Federal Regulation Documents

The UBS Funds, et al.; Notice of Application
Document Number: E7-25378
Type: Notice
Date: 2007-12-31
Agency: Securities and Exchange Commission, Agencies and Commissions
Main Street Capital Corporation, et al.; Notice of Application
Document Number: E7-25357
Type: Notice
Date: 2007-12-31
Agency: Securities and Exchange Commission, Agencies and Commissions
Millennium India Acquisition Company Inc.; Notice of Application
Document Number: E7-25350
Type: Notice
Date: 2007-12-31
Agency: Securities and Exchange Commission, Agencies and Commissions
Staff Accounting Bulletin No. 110
Document Number: E7-25178
Type: Rule
Date: 2007-12-31
Agency: Securities and Exchange Commission, Agencies and Commissions
This staff accounting bulletin (``SAB'') expresses the views of the staff regarding the use of a ``simplified'' method, as discussed in SAB No. 107 (``SAB 107''), in developing an estimate of expected term of ``plain vanilla'' share options in accordance with Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment. In particular, the staff indicated in SAB 107 that it will accept a company's election to use the simplified method, regardless of whether the company has sufficient information to make more refined estimates of expected term. At the time SAB 107 was issued, the staff believed that more detailed external information about employee exercise behavior (e.g., employee exercise patterns by industry and/or other categories of companies) would, over time, become readily available to companies. Therefore, the staff stated in SAB 107 that it would not expect a company to use the simplified method for share option grants after December 31, 2007. The staff understands that such detailed information about employee exercise behavior may not be widely available by December 31, 2007. Accordingly, the staff will continue to accept, under certain circumstances, the use of the simplified method beyond December 31, 2007.