[Federal Register Volume 67, Number 117 (Tuesday, June 18, 2002)]
[Notices]
[Page 41545]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-15420]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Pub. L. 94-409, that the Securities and 
Exchange Commission will hold the following meetings during the week of 
June 17, 2002:
    Closed Meetings will be held on Tuesday, June 18, 2002, at 10 a.m., 
and Wednesday, June 19, 2002, at 10 a.m., and an Open Meeting will be 
held on Thursday, June 20, 2002, at 10 a.m., in Room 1C30, the William 
O. Douglas Room.
    Commissioner Glassman, as duty officer, determined that no earlier 
notice thereof was possible.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meetings. 
Certain staff members who have an interest in the matters may also be 
present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B), and (10) and 17 CFR 
200.402(a)(3), (5), (7), (9)(ii) and (10), permit consideration of the 
scheduled matters at the closed meetings.
    The subject matter of the Closed Meeting scheduled for Tuesday, 
June 18, 2002, will be:

Formal orders of investigation;
Institution and settlement of injunctive actions; and
Institution and settlement of administrative proceedings of an 
enforcement nature.

    The subject matter of the Closed Meeting scheduled for Wednesday, 
June 19, 2002, will be:

Formal orders of investigation;
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings of an 
enforcement nature; and an
Order compelling testimony.

    The subject matter of the Open Meeting scheduled for Thursday, June 
20, 2002, will be:

    1. The Commission will consider whether to adopt technical 
amendments to Rules 3a-1, 3a-2, 3a-3, 3a-5, 3a-6, 6c-6, 6e-2, 6e-
3(T), 20b, and 30f-1 under the Investment Company Act of 1940 and 
Rules 16a-2 and 16a-3 under the Securities Exchange Act of 1934; as 
well as whether to adopt technical amendments to Forms 3, 4, and 5, 
and the references to these forms contained in the Code of Federal 
Regulations. The amendments will correct statutory references 
currently contained in the rules and the forms.
    2. The Commission will consider whether to issue an interpretive 
release regarding the application of certain provisions of the 
federal securities laws to trading in security futures products. In 
light of the framework established by the Commodity Futures 
Modernization Act for the joint regulation of security futures 
products by the Securities and Exchange Commission and the Commodity 
Futures Trading Commission, the interpretive release is designed to 
provide guidance to securities industry and futures industry 
participants in applying certain provisions of the federal 
securities laws to trading in security futures products. This 
release responds to many of the interpretive issues identified by 
industry participants. Some questions pertain to the status and 
treatment of the instruments themselves under the Securities Act of 
1933 and the Securities Exchange Act of 1934. Other questions 
pertain to the application of trading rules and other rules that 
apply to market intermediaries.
    3. The Commission will consider whether to propose rule 
amendments and new rules designed to enhance the quality of 
financial information through improving oversight of the auditing 
process. The proposed rules would create the framework for a new 
private sector regulatory scheme for the accountants that audit or 
review financial statements filed with the Commission. The proposed 
rules also would reform oversight and improve the accountability of 
auditors of public companies, thereby enhancing the reliability and 
integrity of the financial reporting process. Under the proposed 
framework, a new organization, among other things, would (1) conduct 
reviews of accounting firms' quality controls, (2) discipline 
accountants for unethical or incompetent conduct, or other 
violations of professional standards, and (3) either set or rely on 
designated private sector bodies to set auditing, quality control 
and ethics standards.

    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items. For further information and to 
ascertain what, if any, matters have been added, deleted or postponed, 
please contact: The Office of the Secretary at (202) 942-7070.

    Dated: June 13, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-15420 Filed 6-14-02; 11:58 am]
BILLING CODE 8010-01-P