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SEC

RIN: 3235-AJ37

Publication ID: 2012

Title: Amendments to Regulation M: Anti-Manipulation Rules Concerning Securities Offerings
Abstract: The Commission proposed amendments to Regulation M under an earlier RIN 3235-AF54 to prohibit certain activities by underwriters and other distribution participants that can undermine the integrity and fairness of the offering process, particularly with respect to allocation of offered securities. The amendments also sought to enhance the transparency of syndicate covering bids and prohibit the use of penalty bids. The amendments were also intended to update certain definitional and operational provisions in light of market developments since Regulation M's adoption.
Agency: Securities and Exchange Commission(SEC)	Priority: Substantive, Nonsignificant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 17 CFR 242.100 17 CFR 242.101 17 CFR 242.102 17 CFR 242.103 17 CFR 242.104 17 CFR 242.105
Legal Authority: 15 USC 77g 15 USC 77a(a) 15 USC 77s(a) 15 USC 78b 15 USC 78c 15 USC 78i(a) 15 USC 78j 15 USC 78k-1(c) 15 USC 78l 15 USC 78m 15 USC 78n 15 USC 78o(b) 15 USC 78o(c) 15 USC 78(g) 15 USC 78q(a) 15 USC 78q(b) 15 USC 78w(a) 15 USC 78dd-1 15 USC 78mm 15 USC 80a-23 15 USC 80a-29 15 USC 80a-37

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	12/17/2004	69 FR 75774
NPRM Comment Period End	02/15/2005
Second NPRM	12/00/2012

Regulatory Flexibility Analysis Required: No	Government Levels Affected: Undetermined
Federalism: No
Included in the Regulatory Plan: No
RIN Information URL: www.sec.gov/rules/proposed/33-8511.htm
RIN Data Printed in the FR: No
Related RINs: Related to 3235-AJ00, Related to 3235-AF54
Agency Contact: Joan Collopy Division of Trading and Markets Securities and Exchange Commission 100 F Street NE, Washington, DC 20549 Phone:202 551-5743