Having a tough time interpreting what SEC officials mean when they discuss the timing of pending rules?
Robert G. Bagnall, a partner in the Washington law firm of Wilmer Cutler Pickering Hale & Dorr and a former SEC official, offered a shorthand definition between sessions at a recent conference.
When Securities and Exchange Commission officials say a rule is going to be proposed "in the very new future," expect it to be issued in the next month or so.
When they predict a rule will be proposed "in the near future," that translates to the next two to four months.
But when the securities regulators say a proposal is "not our highest priority," don't hold your breath, Mr. Bagnall said.