[Federal Register Volume 59, Number 129 (Thursday, July 7, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-16371]


[[Page Unknown]]

[Federal Register: July 7, 1994]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 240

[Release No. 34-34278; File No. S7-7-94]
RIN 3235-AG14

 

Capital Requirements for Brokers or Dealers Under the Securities 
Exchange Act of 1934

agency: Securities and Exchange Commission (``Commission'').

action: Extension of comment period.

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summary: The Commission is extending the comment period from May 16, 
1994 to September 16, 1994 for Securities Exchange Act Release No. 
33761 (Mar. 15, 1994) (59 FR 13275), which solicited comment on 
amendments to the net capital rule, Rule 15c3-1 under the Securities 
Exchange Act of 1934, relating to capital charges for listed options 
and related positions.

dates: The requested written data, views, arguments, or comments should 
be received on or before September 16, 1994.

addresses: Persons wishing to submit written data, views, arguments, or 
comments should file three copies with Jonathan G. Katz, Secretary, 
Securities and Exchange Commission, 450 Fifth Street NW., Stop 6-9, 
Washington, DC 20549. All written data, views arguments, or comments 
should refer to File No. S7-7-94. All comments received will be 
available for public inspection and copying in the Commission's Public 
Reference Room, 450 Fifth Street NW., Washington, DC 20549.

for further information contact: Michael A. Macchiaroli, Associate 
Director, 202/942-0132; Roger G. Coffin, Branch Chief, 202/942-0136; 
Timothy H. Thompson, Branch Chief, 202/942-0138; or Karen Hanson 
Wellman, Staff Attorney, 202/942-0143; Division of Market Regulation, 
Securities and Exchange Commission.

SUPPLEMENTARY INFORMATION:

I. Introduction

    On March 15, 1994, the Commission solicited comments on proposed 
amendments to the net capital rule relating to capital charges for 
listed options and related positions.\1\ In the release, the Commission 
also solicited comments on the applicability of the proposed 
theoretical pricing haircut methodology to assess the market risk for 
over-the-counter (``OTC'') options. The Commission requested that 
comments be received on or before May 16, 1994.
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    \1\Securities Exchange Act Rel. No. 33761 (Mar. 15, 1994), 59 FR 
13275.
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    The Commission already has received several letters commenting on 
the release. Broker-dealers, however, have requested from the staff of 
the Division of Market Regulation an extension of the comment period. 
Specifically, industry members have requested additional time to 
respond to the Commission's request for comments relating to the net 
capital treatment of OTC options.

II. Discussion

    The Commission appreciates the complexity of the issues addressed 
by the Commission's proposed amendments to the net capital rule, 
particularly with respect to OTC options. Therefore, in order to 
receive additional serious and well-reasoned responses from the 
industry participants, the Commission is extending the comment period 
for all commenters to September 16, 1994.
    Nevertheless, the Commission is eager to address these important 
issues in a timely fashion. Accordingly, the Commission staff will 
continue to develop rulemaking in this area while it is awaiting 
further responses from the industry.

III. Conclusion

    The comment period for responding to Securities Exchange Act 
Release No. 33761 is extended until September 16, 1994.

    Dated: June 29, 1994.

    By the Commission.
Jonathan G. Katz,
Secretary.
[FR Doc. 94-16371 Filed 7-6-94; 8:45 am]
BILLING CODE 8010-01-M