[Federal Register Volume 67, Number 163 (Thursday, August 22, 2002)]
[Notices]
[Pages 54506-54507]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-21598]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meetings

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold the following meetings during the 
week of August 26, 2002:
    An Open Meeting will be held on Tuesday, August 27, 2002, at 10 
a.m., in Room 1C30, the William O. Douglas Room, and Closed Meetings 
will be held on Wednesday, August 28, 2002 at 10 a.m., and Thursday, 
August 29, 2002 at 10 a.m.
    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), (8), (9)(B), and (10) and 17 CFR 
200.402(a)(3), (5), (7), (8), (9)(ii) and (10), permit consideration of 
the scheduled matters at the Closed Meetings.
    The subject matter of the Closed Meeting scheduled for Wednesday, 
August 28, 2002, will be:

Formal orders of investigation;
Litigation matter;
Regulatory matter bearing enforcement implications;
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 Thursday, 
August 29, 2002, will be:

Settlement of injunctive actions;
and Opinions

    The subject matter of the Open Meeting scheduled for Tuesday, 
August 27, 2002, will be:
    1. The Commission will consider approving a delegation to the 
General Counsel to issue certain orders in Commission administrative 
proceedings. The proposed delegation would authorize the General 
Counsel to issue orders, pursuant to Rule of Practice 411(b), under 
which the Commission would take up on its own motion the issue of what 
sanctions are appropriate in the public interest.
    2. The Commission will consider whether to issue a notice of an 
application from The Mexico Fund, Inc. (the ``Fund'') seeking certain 
exemptions from the Investment Company Act of 1940. The application 
seeks an order to permit the Fund to make periodic repurchase offers in 
compliance with rule 23c-3 under the Act, except that (i) the 
repurchase offers would be for between one and one hundred percent of 
the Fund's outstanding shares provided that the Fund will offer to 
repurchase at least five percent of its outstanding shares each fiscal 
year; (ii) shareholders participating in the repurchase offers would 
receive in-kind pro rata portfolio securities of the Fund for their 
shares; and (iii) the board of directors of the Fund would be able to 
set and reset the periodic interval between repurchase offers at 3, 6 
or 12 months upon prior notice to shareholders. The Fund also requests 
that the order permit it to remain a closed-end management investment 
company should the Fund's securities be deemed ``redeemable 
securities'' as a result of the repurchase offers and to permit certain 
affiliated shareholders to participate in the repurchases.
    3. The Commission will consider whether to adopt amendments to 
accelerate the filing of quarterly and annual reports under the 
Securities Exchange Act of 1934. The amendments also would require 
companies to disclose in their annual reports whether they provide 
access to their reports on their websites. The amendments were proposed 
by the Commission in April, 2002.
    4. The Commission will consider whether to adopt new rules that 
would require an issuer's principal executive and financial officers to 
certify the issuer's quarterly and annual reports filed under the 
Securities Exchange Act of 1934. In addition, the new rules would 
require issuers to maintain internal controls to provide reasonable 
assurance that they are able to collect, process and disclose the 
information required in their Exchange Act reports, and to periodically 
review and evaluate these controls. The Commission announced in 
Exchange Act Release No. 46300 (Aug. 2, 2002) that it would consider 
rules to implement Section 302 of the Sarbanes-Oxley Act of 2002.
    5. The Commission will consider adopting rules and form amendments 
to implement the accelerated filing deadline applicable to change of 
beneficial ownership reports required to be filed by officers, 
directors and principal security holders under Section 16(a) of the 
Securities Exchange Act of 1934, as amended by Section 403 of the 
Sarbanes-Oxley Act of 2002. The Commission announced in Exchange Act 
Release No. 46313 (Aug. 6, 2002) that it would consider adopting such 
amendments.
    6. The Commission will consider whether the National Association of 
Securities Dealers, Inc. (``NASD'') and the Nasdaq Stock Market, Inc. 
(``Nasdaq'') have satisfied the conditions that must be implemented 
prior to or at the same time as Nasdaq's

[[Page 54507]]

implementation of a new order display and collection facility 
(``SuperMontage''). The conditions, which were imposed by the 
Commission in a prior order granting conditional approval of the 
SuperMontage, include an alternative display facility established by 
the NASD for the display of market maker and ECN quotes.
    7. The Commission will consider whether to grant a de minimis 
exemption from the trade-through restrictions of the Intermarket 
Trading System Plan for transactions in exchange-traded funds tracking 
the Nasdaq-100 Index (``QQQs''), the Dow Jones Industrial Average 
(``DIAMONDs''), and the Standard and Poors 500 Index (``SPDRs''). The 
exemption would cover transactions that are executed at no more than 
three cents ($0.03) away from the national best bid and offer displayed 
in the Consolidated Quote.
    8. The Commission will consider whether to issue a release adopting 
rule amendments and a new rule under the Securities Exchange Act of 
1934 (``Exchange Act'') that were proposed for comment in the Federal 
Register on June 10, 2002. New paragraph (e) of Rule 10b-10 and new 
Rule 11d2-1 are designed to clarify the disclosures broker-dealers 
effecting transactions in security futures products in futures accounts 
must make in the confirmations sent to customers regarding those 
transactions.
    9. The Commission is proposing for comment amendments to the 
formula for determination of customer reserve requirements (``Reserve 
Formula'') of broker-dealers under Rule 15c3-3 to the Securities 
Exchange Act of 1934. The proposed amendments relate to treatment under 
the Reserve Formula of customer security futures product margin 
required and on deposit with a registered clearing agency or a 
derivatives clearing organization.
    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: August 20, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-21598 Filed 8-20-02; 3:57 pm]
BILLING CODE 8010-01-P