To: Jim Bishop who wrote (68147 ) 10/23/2000 2:55:33 PM From: CIMA Respond to of 150070 Regulation Fair Disclosure Effective October 23, 2000 On Monday, October 23, 2000, the Regulation Fair Disclosure Rule, which was recently passed by the Securities and Exchange Commission (SEC), will become effective. Regulation FD will apply to all issuers with securities registered under Section 12 of the Exchange Act, and all issuers required to file reports under Section 15(d) of the Exchange Act, including closed-end investment companies, but not including other investment companies, foreign governments, or foreign private issuers. This rule requires that companies disseminate material information to the general investing public by press release or Form 8-K filings either before or concurrently with disclosure to securities analysts, institutional investors, or holders of a company's securities. Additionally, the Rule mandates that should a company make any inadvertent disclosure of material information without informing the general public, the company must make full public dissemination of that information—once a senior official of the company learns of the inadvertent disclosure—within 24 hours or before the next market open, whichever is later. Public companies can disseminate material information on their corporate websites, and provide advance notice to investors and the media that it will be available. An ideal source for more information or guidance to the Regulation Fair Disclosure Rule is the National Investor Relations Institute (NIRI) website at www.niri.org. This website offers helpful, up-to-date information on this new rule. Resources: Regulation Fair Disclosure: Selective Disclosure and Insider Trading - view final rule SEC's Interpretive Guidance NIRI NIRI Guidance for Compliance with Regulation Fair Disclosure Directory of Major News Services