[Federal Register Volume 64, Number 93 (Friday, May 14, 1999)]
[Notices]
[Pages 26470-26471]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-12233]


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SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 34-41385; File No. 265-21]


Establishment of Advisory Committee on Technology

AGENCY: Securities and Exchange Commission.

ACTION: Notice.

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SUMMARY: The Chairman of the Commission, with the concurrence of the 
other members of the Commission, has established the Securities and 
Exchange Commission Advisory Committee on Technology (``Committee'') 
that will advise the Commission regarding how technological advances 
have impacted the markets, how market professionals and investors use 
technology to interact in our markets, and how the Commission's 
regulatory, examination, enforcement, and internal programs and 
operations can more effectively use technology and respond to changes 
in technology.

ADDRESSES: Written comments should be submitted in triplicate and 
should refer to File No. 265-21. Comments should be submitted to 
Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 
Fifth Street, NW., Washington, DC 20549-0609.

FOR FURTHER INFORMATION CONTACT: Jonathan G. Katz, Secretary, at 202-
942-7070; Securities and Exchange Commission, 450 Fifth Street, N.W., 
Washington, D.C. 20549-0609.

SUPPLEMENTARY INFORMATION: In accordance with the requirements of the 
Federal Advisory Committee Act, 5 U.S.C. App., the Securities and 
Exchange Commission has directed publication of this notice that 
Chairman Arthur Levitt, with the concurrence of the other members of 
the Commission, has established the ``Securities and Exchange 
Commission Advisory Committee on Technology.'' Chairman Levitt 
certifies that he has determined that the creation of the Committee is 
necessary and in the public interest.
    The Committee's charter directs the Committee to: (i) Assist the 
Commission in evaluating the impact of technology on our markets, 
market participants and investors, (ii) examine how investors and 
market professionals interact in our markets, (iii) identify ways in 
which the Commission's regulatory, examination, enforcement, and 
internal programs and operations can more effectively use technology 
and respond to changes in technology, and (iv) provide technical advice 
on technology issues affecting the Commission and its programs and on 
ways technology can be used to improve efficiency in the Commission's 
programs and operations, from the perspective of investors, issuers, 
the various market participants, technology experts, and other 
interested persons and regulatory authorities.
    To achieve the Committee's goals, members will be appointed who can 
represent effectively the varied interests affected by the range of 
issues to be considered. The Committee's membership may include, among 
others, persons who can represent investors, issuers, market 
participants, regulators and the public at large. The Commission 
expects that the Committee's members will represent a variety of 
viewpoints and have varying experience, and that the Committee will be 
fairly balanced in terms of points of view, backgrounds and tasks.
    The Committee will conduct its operations in accordance with the 
provisions of the Federal Advisory Committee Act. The duties of the 
Committee will be solely advisory. Determinations of action to be taken 
and policy to be expressed with respect to matters upon which the 
Advisory Committee provides advice or recommendations shall be made 
solely by the Commission.
    The Committee will meet at such intervals as are necessary to carry 
out its functions. It is expected that meetings of the full Committee 
generally will occur no more frequently than 4 times per year; meetings 
of subgroups of the full Advisory Committee will likely occur more 
frequently. The Securities and Exchange Commission will provide 
necessary support services to the Committee.
    The Committee will terminate at the end of 2 years from the date of 
its establishment unless, prior to such time, its charter is renewed in 
accordance with the Federal Advisory Committee

[[Page 26471]]

Act, or unless the Chairman, with the concurrence of the other members 
of the Commission, determines that continuance of the Committee is no 
longer in the public interest.
    Fifteen days after publication of this notice in the Federal 
Register, a copy of the charter of the Committee will be filed with the 
Chairman of the Commission, the Senate Committee on Banking, Housing, 
and Urban Affairs and the House Committee on Commerce. A copy of the 
charter will also be furnished to the Library of Congress and placed in 
the Commission's Public Reference Room for public inspection.

    By the Commission.

    Dated: May 10, 1999.
Jonathan G. Katz,
Secretary.
[FR Doc. 99-12233 Filed 5-13-99; 8:45 am]
BILLING CODE 8010-01-M