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SEC Adopts Management Guidance on Internal Controls and Proposes Amendments to Regulation D, Rules 144 and 145, and Other Regulations
May 25, 2007 Full PDF
On May 23, 2007, the SEC approved interpretive guidance on internal control over financial reporting. In an equally significant move, the SEC proposed a series of noteworthy changes, including changes to Rules 144 and 145, and Regulation D, among other regulations. The attached memo discusses the adopted management guidance as well as the proposed amendments to the various rules and regulations.