[Federal Register Volume 61, Number 225 (Wednesday, November 20, 1996)]
[Proposed Rules]
[Pages 59046-59047]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-29644]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 232 and 240

[Release No. 34-37949; File No. S7-21-96]
RIN 3235-AG99


Lost Securityholders

AGENCY: Securities and Exchange Commission.

ACTION: Extension of the comment period.

-----------------------------------------------------------------------

SUMMARY: The Securities and Exchange Commission (``Commission'') is 
extending from October 28, 1996, until November 27, 1996, the comment 
period for Securities Exchange Act Release No. 37595 (August 22, 1996), 
61 FR 44249 (August 28, 1996). In the release the Commission proposed 
two rules which are designed to address the problem of ``lost 
securityholders.''

DATES: Comments on the release should be submitted on or before 
November 27, 1996.

ADDRESSES: Comments should be submitted in triplicate to Jonathan G. 
Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, 
NW, Washington DC 20549, and should refer to File No. S7-21-96. 
Comments also may be submitted electronically at the following E-mail 
address: [email protected]. The file number should be included on 
the subject line if E-mail is used. Comment letters will be available 
for public inspection and copying at the Commission's public reference 
room, 450 Fifth St., NW, Washington DC 20549. Electronically submitted 
comment letters will be posted on the Commission's Internet Web site 
(http://www.sec.gov).

FOR FURTHER INFORMATION CONTACT: Jerry W. Carpenter, Assistant 
Director; Christine Sibille, Senior Counsel; or Michele Bianco, 
Attorney; at 202/942-4187, Office of Risk Management and Control, Mail 
Stop 5-1, Division of Market Regulation, Securities and Exchange 
Commission, Washington, DC 20549.

SUPPLEMENTARY INFORMATION: On August 22, 1996, the Commission proposed 
two rules designed to address the problem of securityholders for whom a 
transfer agent or broker-dealer no longer has a current address. Rule 
17Ad-17 would require transfer agents to conduct searches in an effort 
to locate lost securityholders. Rule 17a-24 would allow the Commission 
to gather data related to lost securityholders and to provide it to 
information distributors or others. The Commission also is seeking

[[Page 59047]]

comments on the extent to which further regulatory or remedial steps 
are necessary, including whether the Commission should operate a 
national database for lost securityholders. The Commission requested 
that comments on the proposed rulemaking be received by October 28, 
1996.
    Commission staff believes that given the novelty of the issues 
involved, commenters may need an extension of time within which to 
comment on the proposed rulemaking. In light of the novel nature of the 
proposed rulemaking and the Commission's desire to consider the views 
of all interested persons on the subject, the Commission believes that 
an extension of the comment period is appropriate. Therefore, the 
comment period for responding to Securities Exchange Act Release No. 
35795 is extended from October 28, 1996, until November 27, 1996.

    By the Commission.

    Dated: November 15, 1996.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-29644 Filed 11-19-96; 8:45 am]
BILLING CODE 8010-01-P