[Federal Register Volume 68, Number 21 (Friday, January 31, 2003)]
[Notices]
[Pages 5058-5059]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-2403]


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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, Pub. L. 94-409, that the Securities and 
Exchange Commission will hold the following meetings during the week of 
February 3, 2003: Open meetings will be held on Tuesday, February 4, 
2003, at 10 a.m., and Thursday, February 6, 2003, at 10 a.m. in Room 
1C30, the William O. Douglas Room, and a closed meeting will be held on 
Wednesday, February 5, 2003, at 2:30 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries

[[Page 5059]]

will attend the closed meeting. 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 meeting.
    The subject matter of the open meeting scheduled for Tuesday, 
February 4, 2003, will be the following:

    1. The Commission will consider whether to adopt Regulation 
Analyst Certification, a new rule that would require analysts to 
provide certifications regarding the views they express in research 
reports and public appearances and to provide disclosures regarding 
any compensation they may have received related to those views and 
recommendations.
    2. The Commission will consider whether to adopt amendments to 
rule 17f-4 under the Investment Company Act of 1940, the rule that 
governs investment companies' use of securities depositories. The 
amendments are designed to update and simplify the rule in response 
to changes in business practices and commercial law that have 
occurred since the rule was adopted in 1978. The amendments 
eliminate unnecessary restrictions in the rule, to reduce compliance 
burdens on funds and fund boards, without jeopardizing investor 
protections.
    3. The Commission will consider a recommendation to propose for 
public comment new rule 38a-1 under the Investment Company Act of 
1940, new rule 206(4)-7 under the Investment Advisers Act, and 
amendments to rule 204-2 under the Investment Advisers Act. The 
recommended proposals would require each investment company and 
investment adviser registered with the Commission to (i) adopt and 
implement policies and procedures reasonably designed to prevent 
violation of the federal securities laws, (ii) review those policies 
and procedures annually for their adequacy and the effectiveness of 
their implementation, and (iii) appoint a chief compliance officer 
to be responsible for administering the policies and procedures. The 
Commission also will consider a recommendation to seek comment on 
other ways to involve the private sector in fostering compliance by 
investment companies and investment advisers with the federal 
securities laws.

    The subject matter of the closed meeting scheduled for Wednesday, 
February 5, 2003, will be:

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

    The subject matter of the open meeting scheduled Thursday, February 
6, 2003, will be the following:

    1. The Commission will consider whether to adopt amendments to 
the definition of terms used in the exception from the definition of 
dealer for banks under section 3(a)(5) of the Securities Exchange 
Act of 1934. The Commission will consider whether to adopt 
amendments to the related exemptions for banks, savings 
associations, and savings banks as well as adopt a new exemption 
concerning securities lending. These proposals relate to the 
implementation of the specific exceptions for banks from the 
definitions of ``broker'' and ``dealer'' that were amended by the 
Gramm-Leach-Bliley Act.
    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: January 28, 2003.
Jonathan G. Katz,
Secretary.
[FR Doc. 03-2403 Filed 1-29-03; 11:40 am]
BILLING CODE 8010-01-P