Well, one good thing could still come from all the ruckus over the Google offering: The out-dated quiet period rules may yet change. SEC chief William Donaldson told reporters today that his SEC is looking into the quiet period rules.
It’s about time. As a Reuters piece points out, the SEC’s own web site concedes that the “quiet period” is not defined under U.S. securities laws. That said, the same site goes on to explain that the un-defined quiet period extends from when a company files its IPO registration under the SEC declares the filing “effective”.