The New Phone Book's Here! The New Phone Book's Here!

No I am not going crazy. I just love the old Steve Martin movie, "The Jerk," where he gets all excited when he discovers on his front stoop is his brand new Yellow Pages. I had a similar exciting reaction when I saw the first of the full proposals on the SEC website yesterday.

You can download them at http://www.sec.gov/rules/proposed.shtml. I will be taking a look over the weekend and hope to have something to say in a few days. Note that the only proposal they have released relates to allowing smaller companies to begin to use short-form registration on Forms S-3 and F-3 on a limited basis. This is a major step and will allow smaller issuers to do "shelf" registrations to make raising capital easier.

Hope to be back to you soon on this. I also believe the rest of the proposals should be out in the next few days.

Also, I may be attending a Congressional hearing next week where SEC Chairman Cox is expected to testify before the House Financial Services Committtee.

Have a great week and happy summer!