[Federal Register Volume 62, Number 54 (Thursday, March 20, 1997)]
[Proposed Rules]
[Page 13356]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-7051]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 230, 240, 270, and 275

[Release Nos. 33-7404, 34-38401, IC-22566, and IA-1619; File No. S7-4-
97]
RIN 3235-AG62; 3235-AH01


Definitions of ``Small Business'' or ``Small Organization'' Under 
the Investment Company Act of 1940, the Investment Advisers Act of 
1940, the Securities Exchange Act of 1934, and the Securities Act of 
1933

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule amendments; extension of the comment period.

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SUMMARY: The Securities and Exchange Commission (''Commission'') is 
extending from February 27 to April 30, 1997, the comment period for 
proposed amendments to certain definitions of ``small business'' and 
``small organization'' that are used for purposes of the Regulatory 
Flexibility Act in connection with Commission rulemaking under the 
Investment Company Act of 1940, the Investment Advisers Act of 1940, 
the Securities Exchange Act of 1934, and the Securities Act of 1933 
regarding regulatory requirements applicable to investment companies, 
investment advisers, exchanges, securities information processors, 
transfer agents and issuers, and broker-dealers. The proposed 
amendments were published in the Federal Register on January 28, 1997 
(62 FR 4106).

DATES: Comments should be received on or before April 30, 1997.

ADDRESSES: Comments should be submitted in triplicate to Jonathan G. 
Katz, Secretary, U.S. Securities and Exchange Commission, Mail Stop 6-
9, 450 Fifth Street, N.W., Washington D.C. 20549. Comments also may be 
submitted electronically at the following E-mail address: rule-
[email protected]. All comment letters should refer to File Number S7-4-
97. This file number should be included on the subject line if E-mail 
is used. Comment letters will be available for public inspection and 
copying in the Public Reference Room, 450 Fifth Street, 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:

General

    Penelope W. Saltzman, Special Counsel, at (202-942-0915), or Anne 
H. Sullivan, Senior Counsel, at (202-942-0954), Office of the General 
Counsel, Securities and Exchange Commission, 450 Fifth Street, N.W., 
Mail Stop 6-6, Washington, D.C. 20549. Offices with Particular 
Responsibility:
    Thomas M.J. Kerwin, Senior Counsel, Division of Investment 
Management, (definitions applicable to investment companies and 
investment advisers) (202-942-0690).
    Glenn J. Jessee, Special Counsel, Office of the Chief Counsel, 
Division of Market Regulation (definitions applicable to exchanges, 
transfer agents and issuers, securities information processors, and 
broker-dealers) (202-942-0073).

SUPPLEMENTARY INFORMATION:

    On January 22, 1997, the Commission proposed amendments to the 
definitions of ``small business'' and ``small organization'' set forth 
in Rule 0-10 [17 CFR 270.0-10] under the Investment Company Act of 1940 
[15 U.S.C. Sec. 80a-1], Rule 0-7 [17 CFR 275.0-7] under the Investment 
Advisers Act of 1940 [15 U.S.C. Sec. 80b-1], Rule 0-10 [17 CFR 240.0-
10] under the Securities Exchange Act of 1934 [15 U.S.C. Sec. 78a], and 
Rule 157 [17 CFR 230.157] under the Securities Act of 1933 [15 U.S.C. 
Sec. 77a]. These definitions are used specifically for purposes of the 
Regulatory Flexibility Act, Pub. L. No. 96-354, 94 Stat. 1164 (1980), 
as amended, Pub. L. No. 104-121, Title II, Subtitle D, 110 Stat. 864 
(1996).
    The Commission originally requested that comments on the proposed 
rulemaking be received by February 27, 1997. The Commission believes 
that an extension is appropriate in order to give the public additional 
time to comment on the proposed amendments. Therefore, the comment 
period for responding to Investment Company Act Release No. 22478, 
Investment Advisers Act Release No. 1609, Securities Act Release No. 
7383, and Securities Exchange Act Release No. 38190, is extended from 
February 27, 1997 to April 30, 1997.

    Dated: March 14, 1997.

    By the Commission.
Jonathan G. Katz,
Secretary.
[FR Doc. 97-7051 Filed 3-19-97; 8:45 am]
BILLING CODE 8010-01-P