The SEC Provides Updated Guidance for Regulation FD

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On August 14, 2009, the Securities and Exchange Commission (the “SEC”) published additional guidance related to Regulation FD, which prohibits issuers from selectively disclosing material nonpublic information. The SEC’s updated guidance is in the form of questions and answers related to issues about the confirmation of forecasts by issuers, comments on analyst models, disclosures to employees, disclosures of road show materials, and the definition of public disclosure.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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