[Federal Register Volume 65, Number 156 (Friday, August 11, 2000)]
[Notices]
[Pages 49279-49280]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-20412]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-43066A; File No. SR-MSRB-00-06]


Self-Regulatory Organizations; Notice of Filing of Proposed Rule 
Change by the Municipal Securities Rulemaking Board Relating to 
Municipal Fund Securities; Corrections

August 4, 2000.
    In FR Document 00-19448, beginning on page 47530 for Wednesday, 
August 2, 2000, on page 47531, Rule D-12 was incorrectly stated. This 
provision should read as follows:
    ``Rule D-12. ``Municipal Fund Security''
    The term ``municipal fund security'' shall mean a municipal 
security issued by an issuer that, but for the application of Section 
2(b) of the Investment Company Act of 1940, would constitute an 
investment company within the meaning of Section 3 of the Investment 
Company Act of 1940.''
    On page 47532, Rule G-8(g)(i) was incorrectly stated. This 
provision should read as follows:
    ``(g) Transactions in Municipal Fund Securities.
    (i) Books and Records Maintained by Transfer Agents. Books and 
records required to be maintained by a broker, dealer or municipal 
securities dealer under this rule solely with respect to transactions 
in municipal fund securities may be maintained by a transfer agent 
registered under Section 17A(c)(2) of the Act used by such broker, 
dealer or municipal securities dealer in connection with such 
transactions; provided that such broker, dealer or municipal securities 
dealer shall remain responsible for the accurate maintenance and 
preservation of such books and records.''
    On page 47533, Rule G-15(a)(i)(A)(7)(c) was incorrectly stated and 
should read as follows:
    ``(c) Municipal fund securities. For municipal fund securities, the 
purchase price, exclusive of commission, of each share or unit and the 
number of shares or units to be delivered;''
    On page 47534, Rule G-15(a)(viii)(D) was incorrectly stated and 
should read as follows:
    ``(D) such customer is provided with prior notification in writing 
disclosing the intention to send the written information referred to in 
subparagraph (B) of this paragraph (viii) on a periodic basis in lieu 
of an immediate confirmation for each transaction; and''
    On page 47534, Rule G-15(a)(viii)(E)(3) was incorrectly stated and 
should read as follows:

[[Page 49280]]

    ``(3) the customer is a natural person who participates in a 
periodic municipal fund security plan (other than a plan described in 
subparagraph (C) of this paragraph (viii)) or a non-periodic municipal 
fund security program and the issuer has consented in writing to the 
use by the broker, dealer or municipal securities dealer of the 
periodic written information referred to in subparagraph (B) of this 
paragraph (viii) in lieu of an immediate confirmation for each 
transaction with each customer participating in such plan or program.''
    On page 47535, Rule G-32(a)(i)(A) was incorrectly stated and should 
read as follows:
    ``(A) if a customer who participates in a period municipal fund 
security plan or a non-periodic municipal fund security program has 
previously received a copy of the official statement in final form in 
connection with the purchase of municipal fund securities under such 
plan or program, a broker, dealer or municipal securities dealer may 
sell additional shares or units of the municipal fund securities under 
such plan or program to the customer if such broker, dealer or 
municipal securities dealer sends to the customer a copy of any new, 
supplemented, amended or ``stickered'' official statement in final 
form, by first class mail or other equally promptly means, promptly 
upon receipt thereof; provided that, if the broker, dealer or municipal 
securities dealer sends a supplement, amendment or sticker without 
including the remaining portions of the official statement in final 
form, such broker, dealer or municipal securities dealer includes a 
written statement describing which documents constitute the complete 
official statement in final form and stating that the complete official 
statement in final form is available upon request; or''
    On page 47538, the first sentence of the second paragraph in column 
2 was incorrectly stated. This sentence should read as follows:
    ``Rule A-13--Assessments. Proposed Rule A-13 exempts the sale of 
municipal fund securities from the underwriting assessment imposed 
under section (b) thereof because the continuous nature of offerings in 
municipal fund securities, the predetermined and automatic nature of 
most customer investments and the heightened potential that 
underwriting assessments could create significant financial burdens on 
issuers to their customers' detriment justify exempting municipal fund 
securities from the underwriting assessment.''
    On page 47550, the second to the last sentence in column 3 was 
incorrectly stated. This sentence should read as follows:
    ``All submissions should refer to the File No. SR-MSRB-00-06 and 
should be submitted by August 23, 2000.''

Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-20412 Filed 8-10-00; 8:45 am]
BILLING CODE 8010-01-M