As far as i know the rules were voted on and passed. The federal register is putting them in writing and 60 days after they are in the register they go into effect. Here is what i was told by a lawyer at the sec when i called last. Do you think maybe you could call and follow up?
Timeframe on the Granfather Clause being enforced
6-14-07 I just got off the phone with Ann Sulzberg (attourney at SEC) she is in the investor education dept with the SEC.
Q. When will this new GC ruling become effective? A. Look for the ruling in the federal register in 1-2 weeks on SEC website. 60 days from when it appears in the federal register it should take affect. The particulars will be outlined at that time as well.
To sum things up we are looking at 74 days or so to be in effect and another 35 days after that of activity to correct the FTD's. So imo we won't see the effects of the ruling until late August through the end of September.
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