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PAIS Panel: Announcement of Meeting #3

The material copied below had been published on a web site maintained by the New York Society of Security Analysts ("NYSSA"), and was accessible from a link on a summary page for the "PAIS" Panel, which was organized in association with the NYSSA Forum Program addressing "Amazon.com: Responsibility for Investment Information."


NYSSA Special Presentation
(Tapes Available.)

PAIS Panel: Analysts’ Views of Regulation FD - What’s Changed?


DATE/TIME October 23, 2000
3:30 - 5:30 pm
LOCATION One World Trade Center, Suite 4447, New York City
FEE $15 members, $30 non-members
CHAIR Gary Lutin, Lutin & Company
SPEAKER The PAIS Panel will be inviting authoritative speakers to address issues that appear to be particularly important in relation to Reg FD.
General Information

On the first day of work under the SEC’s new Regulation FD (“Fair Disclosure”), has life really changed for analysts? Have the companies you cover stopped talking to you? Have investors stopped listening to you? Are you unable to get the information you need for intelligent investment decisions? Or, as some people claim, is Reg FD nothing new, just a more detailed explanation of the old “don’t lie or cheat” rule? And, most importantly, one way or another, how can analysts make the new rule work for them, and for the investment community they serve?

If you want to help define investment community adaptations to Reg FD, you can hear what the experts say, ask questions, and express your own views at a meeting of the Performance Analysis and Information (“PAIS”) Panel <http://www.nyssa.org/governance/pais.html> hosted by the NYSSA Committee for Corporate Governance. This is the third in a series of open meetings being conducted by the Panel, which was formed in July 2000 to develop recommendations for new standards for analyst communications with the companies they cover.

Speakers & Agenda

3:30 - Richard A. Levine, Assistant General Counsel (Enforcement Matters), Securities & Exchange Commission, has been involved in the SEC's development of Regulation FD and in subsequent communications with constituencies concerned with its implementation; he will address the SEC's intent and current concerns.

3:50 - Vahan Janjigian, Director, Forbes Investors Advisory Institute, is a former professor now practicing a combination of securities analysis and journalism; he will address the effects of Regulation FD on the function of investment markets and on the individual analyst's professional opportunities.

4:10 - Raymond L. Dirks, President, Dirks & Company, defined new professional standards when his relentless investigation of Equity Funding revealed one of the greatest financial frauds of the century; he will tell us how Regulation FD might help or hinder the kind of analysis that makes news.

4:30 - Andrea L. Dulberg, Corporate Secretary, Merrill Lynch & Co., Inc., is responsible for a "best practice" leader's adaptation to Regulation FD; she will report what it means for their corporate executives responding to investors in Merrill Lynch and, on the other side, for the firm's own investment professionals.

4:50 - Open discussion


Advisory Panel

Gary Lutin (Panel Chairman), Lutin & Company
Peter F. Brennan, Chairman, NYSSA's Corporate Governance & Shareholder Rights Committee
Charles M. Elson, Director, Delaware Center for Corporate Governance
Elizabeth A. Fender, Director, Accounting Standards, AICPA
James C. Goodale, former Vice Chairman of the New York Times and host of PBS TV's "Digital Age"
Russell Grandinetti, Treasurer, Amazon.com
Faye I. Landes, Senior Research Analyst, Sanford C. Bernstein & Co.
Kurt N. Schacht, COO, Evergreen Asset Management



Material dated between January 1999 and July 2001 was originally published on the web site of the New York Society of Security Analysts ("NYSSA"), and was provided by Gary Lutin as co-sponsor of a "Forum Program" conducted for public educational purposes with NYSSA's Committee for Corporate Governance and Shareholder Rights during that period. Material dated after July 2001 was not published by the NYSSA unless specifically indicated.

For additional information, send an inquiry to admin@shareholderforum.com.