The Securities and Exchange Commission is looking to ensure that shareholders are kept informed about the progress or problems companies encounter as they convert their computer systems to Year 2000-compliance. The Commission issued a statement recently saying that companies should review on an ongoing basis the need for disclosures concerning projected expenditures and uncertainties associated with Year 2000 consequences. One of the issues is whether such costs represent a known material event, which would require notification under the Commission’s rules.
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