[Federal Register Volume 69, Number 68 (Thursday, April 8, 2004)]
[Notices]
[Page 18656]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-8076]


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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 
April 12, 2004:

    An Open Meeting will be held on Tuesday, April 13, 2004 at 10 a.m.
    A Closed Meeting will be held on Thursday, April 15, 2004 at 2 p.m.

    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries 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), (4), (5), (7), (8), (9), and (10) and 17 CFR 
200.402(a)(3), (4), (5), (7), (8), 9(ii), and (10), permit 
consideration of the scheduled matters at the Closed Meeting.
    Commissioner Campos, as duty officer, voted to consider the items 
listed for the closed meeting in closed session.
    The subject matter of the Open Meeting scheduled for Tuesday, April 
13, 2004 will be:
    1. The Commission will consider whether to adopt a rule to exempt 
qualified foreign banks from the insider lending prohibition of 
Securities Exchange Act of 1934 Section 13(k), as added by Section 402 
of the Sarbanes-Oxley Act. The rule would exempt foreign banks that 
meet specified criteria similar to those that qualify domestic banks 
for the exemption under Section 13(k). The Commission will also 
consider whether to adopt an amendment to Form 20-F that would require 
a foreign bank issuer to provide the same disclosure regarding certain 
loans to insiders as that required for domestic banks under Regulation 
S-K.
    For further information contact Elliot Staffin, Special Counsel, 
Office of International Corporate Finance, Division of Corporation 
Finance, at (202) 942-2990.
    2. The Commission will consider whether to propose amendments to 
Form S-8 and Form 8-K as well as proposing to define the term ``shell 
company.'' The proposed amendments would: (1) Define the term ``shell 
company'' to mean a registrant with no or nominal operations, and with 
no or nominal assets or assets consisting solely of cash and cash 
equivalents; (2) prohibit the use of Form S-8 by shell companies; and 
(3) revise Form 8-K to require a shell company to include current Form 
10 or Form 10-SB information, including audited financial statements, 
in the filing on Form 8-K that it files to report an event that causes 
it to cease being a shell company.
    For further information, please contact Gerald J. Laporte, Chief, 
or Kevin M. O'Neill, Special Counsel, Office of Small Business Policy, 
Division of Corporation Finance, at (202) 942-2908.
    3. The Commission will consider whether to adopt amendments to 
Forms N-1A, N-3, N-4, and N-6 under the Securities Act of 1933 and the 
Investment Company Act of 1940. The amendments will (1) require open-
end management investment companies and variable insurance products to 
disclose in their prospectuses information about the risks of, and 
policies and procedures with respect to, the frequent purchase and 
redemption of investment company shares; (2) clarify that open-end 
management investment companies and insurance company managed separate 
accounts that offer variable annuities are required to explain both the 
circumstances under which they will use fair value pricing and the 
effects of using fair value pricing; and (3) require open end 
management investment companies and insurance company managed separate 
accounts that offer variable annuities to disclose their policies and 
procedures with respect to disclosure of portfolio holdings 
information.
    For further information, please contact Kieran G. Brown or David 
Schwartz at (202) 942 0721.
    The subject matter of the Closed Meeting scheduled for Thursday, 
April 15, 2004 will be:

Formal orders of investigation;
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings of an 
enforcement nature;
Regulatory matter regarding a financial institution; and a litigation 
matter.

    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: April 6, 2004.
Jonathan G. Katz,
Secretary.
[FR Doc. 04-8076 Filed 4-6-04; 12:11 pm]
BILLING CODE 8010-01-P