[Federal Register Volume 63, Number 218 (Thursday, November 12, 1998)]
[Rules and Regulations]
[Pages 63143-63171]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-30248]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 200, 240, 249

[Release No. 34-40594A; File No. S7-30-97]
RIN 3235-AH16


OTC Derivatives Dealers; Correction

AGENCY: Securities and Exchange Commission.

ACTION: Correction to final regulation.

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SUMMARY: This document contains a correction to final regulations (34-
40594), which were published Tuesday, November 3, 1998, (63 FR 59362). 
The regulations establish a new regulatory framework under the 
Securities Exchange Act of 1934 that tailor capital, margin, and other 
broker-dealer regulatory requirements to a class of registered dealers, 
called OTC derivatives dealers, that are active in over-the-counter 
derivatives markets.

EFFECTIVE DATE: January 4, 1999.

FOR FURTHER INFORMATION CONTACT: Michael Macchiaroli, Associate 
Director, at (202) 942-0132, Thomas K. McGowan, Assistant Director, at 
(202) 942-0177, or Christopher M. Salter, Attorney, at (202) 942-0148, 
Division of Market Regulation, Securities and Exchange Commission, 450 
Fifth Street, N.W., Mail Stop 10-1, Washington, DC 20549.

SUPPLEMENTARY INFORMATION:

I. Background

    The final regulations that are the subject of these corrections 
supersede Part IIB of Form X-17A-5 on the effective date and effect OTC 
derivatives dealers required to file Part IIB of Form X-17A-5 pursuant 
to Securities Exchange Act Rule 17a-12 (17 CFR 240.17a-12).

II. Need for Correction

    As published the final regulations contain errors which may prove 
to be misleading and are in need of clarification.

III. Correction of Publication

    Accordingly, the publication on November 3, 1998 of final 
regulations (34-40594), which were the subject of FR Doc. 98-29007, is 
corrected as follows:
    Part IIB of Form X-17A-5 (referenced in Sec. 249.617) which was 
published beginning on page 59407 and ending on page 59434 is corrected 
to read as follows:
* * * * *
    Dated: November 5, 1998.

    By the Commission.
Jonathan G. Katz,
Secretary.

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[FR Doc. 98-30248 Filed 11-10-98; 8:45 am]
BILLING CODE 8010-01-C