[Federal Register Volume 63, Number 75 (Monday, April 20, 1998)]
[Proposed Rules]
[Pages 19430-19431]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-10336]


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

SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 240

[Release No. 34-39859; File No. S7-8-98]
RIN 3235-AH42


Year 2000 Readiness Reports To Be Made by Transfer Agents

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule; extension of the comment period.

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

SUMMARY: The Securities and Exchange Commission is extending from April 
13, 1998, until April 27, 1998, the comment period for Securities 
Exchange Act Release No. 39726 (March 5, 1998), 63 FR 12062 (March 12, 
1998). In the release the Commission proposed a rule that would require 
non-bank transfer agents to provide at least one report to the 
Commission regarding its preparations for Year 2000 problems.

DATES: Comments should be received on or before April 27, 1998.

ADDRESSES: Comments should be submitted in triplicate to Jonathan G. 
Katz, Secretary, Securities and Exchange Commission (``Commission''), 
450 Fifth Street, N.W., Washington, D.C. 20549.

[[Page 19431]]

    Comments also may be submitted electronically at the following E-
mail address: [email protected]. Comment letters should refer to 
File No. S7-8-98; this file number should be included on the subject 
line if E-mail is used. All comments received will be available for 
public inspection and copying at the Commission's 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: Jerry W. Carpenter, Assistant 
Director, 202/942-4187; Thomas C. Etter, Jr., Special Counsel, 202/942-
0178; or Jeffrey S. Mooney, Special Counsel, 202/942-4174, Division of 
Market Regulation, Securities and Exchange Commission, 450 Fifth 
Street, N.W., Mail Stop 10-1, Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: On March 5, 1998, the Commission proposed 
temporary Rule 17Ad-18 under the Securities Exchange Act of 1934. Rule 
17Ad-18 would require all non-bank registered transfer agents to file 
with the Commission at least one report regarding its Year 2000 
readiness. The initial report would be due no later than 45 days after 
the Commission adopts this rule. The follow-up reports, which would be 
due on August 31, 1998, and on August 31, 1999, would include an 
attestation by an independent public accountant that would give the 
independent public accountant's opinion whether there is a reasonable 
basis for the transfer agent's assertions in the reports. Additionally, 
the release contains a Commission advisory notice on its transfer agent 
record retention and recordkeeping requirements relating to the Year 
2000.
    The Commission has recently received requests from interested 
persons to extend the comment period for this release. The Commission 
believes that extending the comment period is appropriate in order to 
give the public additional time to comment on the matters the release 
addresses. Therefore, the comment period is extended until April 27, 
1998.

    By the Commission.

    Dated: April 14, 1998.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 98-10336 Filed 4-17-98; 8:45 am]
BILLING CODE 8010-01-P