[Federal Register Volume 59, Number 226 (Friday, November 25, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-29063]


[[Page Unknown]]

[Federal Register: November 25, 1994]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 240

[Release No. 34-34962A; File No. S7-6-94]
RIN 3235-AF84

 

Confirmation of Transactions; Correction

AGENCY: Securities and Exchange Commission.

ACTION: Corrections to final rule.

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SUMMARY: This document contains corrections to recent amendments to 
Rule 10b-10 under the Securities Exchange Act of 1934 (Securities 
Exchange Act Release No. 34962) that were published in the Federal 
Register on Thursday, November 17, 1994 (59 FR 59612). Rule 10b-10 
requires brokers and dealers that effect a securities transaction for a 
customer to send an immediate confirmation containing information 
relevant to the transaction.

EFFECTIVE DATES: April 3, 1995.

FOR FURTHER INFORMATION CONTACT:
C. Dirk Peterson, Senior Counsel, (202/942-0073), Division of Market 
Regulation, Securities and Exchange Commission, 450 Fifth Street, N.W., 
Mail Stop 7-10, Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: Rule 10b-10 under the Securities Exchange 
Act of 1934 requires, among other things, that non-market maker brokers 
and dealers disclose their mark-ups and mark-downs in riskless 
principal transactions in equity securities. This disclosure 
requirement was adopted by the Securities and Exchange Commission in 
1977 in Securities Exchange Act Release No. 13508, and amended in 
Securities Exchange Act Release No. 34962.

Need For Correction

    The amendments to Rule 10b-10 contain an error in the mark-up and 
mark-down disclosure requirements for riskless principal transactions 
in equity securities. Specifically, the modifying term ``equity'' was 
omitted from (a)(2)(ii)(A) of Rule 10b-10. This disclosure requirement 
should apply solely to equity securities.

Correction of Publication

    Accordingly, the publication on November 17, 1994 containing the 
adoption of amendments to Rule 10b-10 which were published in 59 FR 
59612 is corrected as follows:


Sec. 240.10b-10  [Corrected]

    On page 59621, in the first column, Sec. 240.10b-10, paragraph 
(a)(2)(ii)(A) in the second line, the word ``that'' is removed and the 
phrase ``an equity'' is added to precede the word ``security''.
    On page 59621, in the first column, Sec. 240.10b-10, paragraph 
(a)(2)(ii)(A) in the fifth line, the word ``equity'' is added to 
precede the word ``security''.

    Dated: November 18, 1994.
Jonathan G. Katz,
Secretary.
[FR Doc. 94-29063 Filed 11-23-94; 8:45 am]
BILLING CODE 8010-01-M