[Federal Register Volume 62, Number 12 (Friday, January 17, 1997)]
[Proposed Rules]
[Page 2633]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-1221]



[[Page 2633]]

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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 240
[Release No. 34-38159; File No. S7-27-96]
RIN 3235-AH04


Books and Records Requirements for Brokers and Dealers Under the 
Securities Exchange Act of 1934

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule; extension of the comment period.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
extending from December 27, 1996, until March 31, 1997, the comment 
period for Securities Exchange Act Release No. 37850 (October 22, 
1996), 61 FR 55593 (October 28, 1996). In the release the Commission 
proposed amendments to the broker-dealer books and records rules.

DATES: Comments on the release should be submitted on or before March 
31, 1997.

ADDRESSES: Comments should be submitted in triplicate to Jonathan G. 
Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, 
N.W., Washington D.C. 20549, and should refer to File No. S7-27-96. 
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., N.W., Washington D.C. 20549. Electronically 
submitted comment letters will be posted on the Commission's Internet 
Web site (http://www.sec.gov).

FOR FURTHER INFORMATION CONTACT: Michael A. Macchiaroli, Associate 
Director at (202) 942-0131; Peter R. Geraghty, Assistant Director at 
(202) 942-0177; Matthew G. McGuire, Attorney at (202) 942-7103; or 
Michael E. Greene, Attorney at (202) 942-4169; Office of Risk 
Management and Control, Division of Market Regulation, Mail Stop 5-1, 
Securities and Exchange Commission, Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: On October 22, 1996, the Commission proposed 
amendments to Rules 17a-3 1 and 17a-4,2, the broker-dealer 
books and records rules. The proposed amendments clarify, modify, and 
expand recordkeeping requirements with respect to purchase and sale 
documents, customer records, associated person records, customer 
complaints, and certain other matters. In addition, the proposed 
amendments specify certain types of books and records that broker-
dealers must make available in their local offices. The Commission is 
proposing amendments to the books and records rules in response to 
certain concerns raised by members of the North American Securities 
Administrators Association. The proposed amendments are intended to 
obligate broker-dealers to make and retain certain additional records 
that would be available to state regulators during examination and 
enforcement proceedings. The Commission originally requested that 
comments on the proposed rulemaking be received by December 27, 1996.
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    \1\ 17 CFR 240.17a-3.
    \2\ 17 CFR 240.17a-4.
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    Based on requests from prospective commenters, including NASD 
Regulation, Inc. and the New York Stock Exchange, 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. 37850 is extended from December 27, 1996, 
until March 31, 1997.

    Dated: January 13, 1997.

    By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-1221 Filed 1-16-97; 8:45 am]
BILLING CODE 8010-01-P