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To: Nanchate who wrote (3035)	12/2/1999 12:05:00 PM
From: Nanchate	Read Replies (1) \| Respond to of 4443

Foreign securities cross-border tender sec.gov Summary: The Securities and Exchange Commission today is adopting tender offer and Securities Act registration exemptive rules for cross-border tender and exchange offers, business combinations, and rights offerings relating to the securities of foreign companies. The purpose of the exemptions is to facilitate U.S. investor participation in these types of transactions

To: Nanchate who wrote (3035)	12/2/1999 4:20:00 PM
From: Nanchate	Read Replies (1) \| Respond to of 4443

Rule 390 officially rescinded Thursday December 2 3:48 PM ET NYSE Repeals Off-Exchange Rule WASHINGTON (Reuters) - The New York Stock Exchange board has repealed Rule 390 that prohibits the off-exchange trading in some securities, Senate Banking Committee Chairman Phil Gramm said on Thursday. ``The New York Stock Exchange was right to do a 180 on 390,'the Texas Republican said in a statement released to coincide with a NYSE news conference in New York announcing the repeal. Shortly after Gramm's statement, the NYSE confirmed that its board voted to rescind the rule. Under Rule 390, NYSE member firms could only use traditional exchanges to trade stocks listed on the Big Board prior to 1979, including such corporate giants as General Electric Co. (NYSE:GE - news) and International Business Machines Corp. (NYSE:IBM - news). ``This move will go a long way toward improving competition and public participation in our markets,' Gramm said. ``The repeal of this rule should remove any doubt that the NYSE is fully prepared to become a responsible and responsive public corporation.' Securities and Exchange Commission Chairman Arthur Levitt has been pushing for the repeal of the rule to promote competition and had warned the NYSE that if it did not take steps to eliminate the rule, the securities regulator would abolish it on its own. --------------------------------------------------------------------------------