27 - Sarbanes-Oxley Act of 2002: SEC Adopts Final Rule to Mandate Electronic Filing and Website...

May 21, 2003

Sarbanes-Oxley Act of 2002: SEC Adopts Final Rule to Mandate Electronic Filing and Website Posting for Forms 3, 4 and 5

As required by Section 403 of the Sarbanes-Oxley Act of 2002, the Securities and Exchange Commission (the “SEC”) has adopted final rules and form amendments mandating the electronic filing, and website posting by issuers with corporate websites, of beneficial ownership reports filed by officers, directors and principal security holders under Section 16(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).  The SEC has also adopted rule changes to eliminate magnetic cartridges as a means of electronic filing.  The new SEC rules will become effective on June 30, 2003.  In addition, magnetic cartridges may not be used as a means of electronic filing after June 27, 2003.

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