Spotlight on...
Securities Offering Reform
On December 1, 2005, the SEC implemented wide-ranging reforms to U.S. public securities offerings. The new and amended rules effected significant changes in the registration, communication, and offering processes under the Securities Act of 1933 and advance the SEC's ongoing work to integrate disclosure and processes under the '33 Act and the Securities Exchange Act of 1934. The SEC unanimously adopted the reforms on June 29, 2005 and released its final rules on July 19, 2005.
Use the links below to navigate quickly to the text of the new rules, expert analysis and commentary, and other resources for understanding and operating within this new regulatory environment.
Securities
Offering Reform Condensed and Defined
- Key Points, Summary of the New Rules, Highlights for Shell Companies, New EDGAR Submission Types, Glossary of Terms PDF
- 2006 Annual Report and Proxy Season Reminders PDF
Selected SEC Text and Commentary
Practitioner Analysis
and Commentary
- Akin Gump Strauss Hauer & Feld 10/19/05 PDF
- Weil, Gotshal & Manges 9/16/05 PDF
- Wilmer Cutler Pickering Hale & Dorr 9/1/05 PDF
- Akin Gump Strauss Hauer & Feld 8/8/05 PDF
- Skadden, Arps, Slate, Meagher & Flom 7/28/05 PDF
- Paul, Weiss, Rifkind, Wharton & Garrison 7/1/05 PDF
- Weil Gotshal & Manges 7/1/05 PDF
- Gibson, Dunn & Crutcher 6/30.05 PDF
- Goodwin Procter 06/30/05 PDF
Selected Statutes
Resource Room
Samples
- ABN ANRO FWP (12-1-2005)
- Aegon Funding FWP (12-5-2005)
- Golden West S-3ASR (12-1-2005)
- ING F-3ASR (12-1-2005)
- McCormick FWP (12-1-05)
- Public Storage S-3ASR (12-5-2005)
- Qwest Communications S-3ASR (12-16-2005)
- Temple-Inland S-3ASR (12-1-2005)
- Temple-Inland 424B3 (12-1-2005)
- Union Electric FWP (12-5-2005)
- Warren Resources S-3ASR (12-2-2005)
These selections and related material and updates can also be accessed
through Merrill's DataSite
and EDGAR
Services pages and through the Recent
Developments, Analysis and Commentary,
and Forms pages of our Securities Law Library.