[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] ----------------------------------------------------------------------- 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. ----------------------------------------------------------------------- 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