Even Before Webvan, Quiet-Period Questions Vexed SEC

The Securities and Exchange Commission made a big splash this week in putting the brakes on online grocer Webvan's IPO plans. But even the SEC is uncertain about whether it needs to play the bad cop when it comes to so-called quiet periods.

For the past year, the SEC has been planning to revamp its own guidelines for companies going public. But those plans have been put on ice, in part because the official in charge has resigned and the agency hasn't found a replacement.

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