[Unified Agenda of Federal Regulations]
[Securities and Exchange Commission Semiannual Regulatory Agenda
]
[From the U.S. Government Printing Office, www.gpo.gov]


_______________________________________________________________________

Part LXI




 
Securities and Exchange Commission





_______________________________________________________________________



Semiannual Regulatory Agenda


=======================================================================

SECURITIES AND EXCHANGE COMMISSION (SEC)                               
  
  
_______________________________________________________________________
  

SECURITIES AND EXCHANGE COMMISSION

17 CFR Ch. II

[Release Nos. 33-7051, 34-33808, 35-26009, 39-2319, IC-20157, IA-1407; 
File No. S7-10-94]

Regulatory Flexibility Agenda

AGENCY: Securities and Exchange Commission.

ACTION: Publication of regulatory flexibility agenda.

_______________________________________________________________________

SUMMARY: The Securities and Exchange Commission is publishing an agenda 
of its rulemaking actions, pursuant to chapter 6 of the Administrative 
Procedure Act. Information in the agenda is believed to be accurate as 
of February 11, 1994, the date on which the Commission's staff 
completed compilation of the data. The Commission invites questions and 
public comment on the agenda and on the individual agenda entries.

DATES: Public comments are due by May 31, 1994.

ADDRESSES: Persons wishing to submit written comments should file three 
copies of their comments with Jonathan G. Katz, Secretary, Securities 
and Exchange Commission, 450 5th Street NW., Room 6184, Stop 6-9, 
Washington, DC 20549. All submissions should refer to File No. S7-10-94 
and will be available for public inspection and copying at the 
Commission's Public Reference Room, Room 1026, at the same address.

FOR FURTHER INFORMATION CONTACT: Kevin M. Kirchoff, Senior Counsel, 
Office of the General Counsel, Securities and Exchange Commission, 450 
5th Street NW., Room 6146, Stop 6-6, Washington, DC 20549, (202) 272-
2428. Each specific item on the agenda indicates the names and 
addresses of persons to contact with regard to such item.

SUPPLEMENTARY INFORMATION: The Regulatory Flexibility Act (RFA) (Pub. 
L. No. 96-354, 94 Stat. 1164 (September 19, 1980)) requires each 
Federal agency, during April and October of each year, to publish in 
the Federal Register an agenda identifying rules which the agency 
expects to propose or adopt that are likely to have a significant 
economic impact on a substantial number of small entities (5 U.S.C. 
602(a)). The RFA specifically provides that publication of the agenda 
does not preclude an agency from considering or acting on any matter 
not included in the agenda and that an agency is not required to 
consider or act on any matter which is included in the agenda (5 U.S.C. 
602(d)). The agenda includes new entries, entries carried over from 
previous publications, and rulemaking actions which have been completed 
(or withdrawn) since publication of the last agenda.

    The Commission's April 1994 regulatory flexibility agenda is 
set forth below. The Commission invites public comment on the 
agenda and on the individual agenda entries.

Dated: March 24, 1994.

    By the Commission.

Jonathan G. Katz,

Secretary. 

                                                 Prerule Stage                                                  
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
 Number                                                                                                Number   
----------------------------------------------------------------------------------------------------------------
5012        17 CFR 274.11A  Technical Amendments to Rules 24f-1 and 24f-2.........................    3235-AC25 
5013        17 CFR 240.19h-1  Notice By SRO of Proposed Admission to or Continuance in Membership               
            With Any Person Subject to a Statutory Disqualification...............................    3235-AE39 
5014        17 CFR 230.482  Amendments to Investment Company Registration Form N-1A and Other                   
            Forms.................................................................................    3235-AE46 
5015        17 CFR 230  American Depositary Receipts..............................................    3235-AE57 
5016        17 CFR 240.10b-6  Prohibitions Against Trading by Persons Interested in a                           
            Distribution; Stabilizing To Facilitate a Distribution; Distributions Through Rights..    3235-AF54 
5017        17 CFR 240.16a-1 to 240.16a-11  Ownership Reports and Trading by Officers, Directors,               
            and Principal Security Holders........................................................    3235-AF66 
5018        17 CFR 270.30f-1  Applicability of Section 30(f) of the Investment Company Act of 1940              
            to Certain Affiliated Persons of an Investment Adviser to a Registered Closed-End                   
            Investment Company....................................................................    3235-AF81 
5019        17 CFR 271 to 276  Staff Interpretive Statement on Wrap Fee Programs..................   3235-AG07  
----------------------------------------------------------------------------------------------------------------


                                              Proposed Rule Stage                                               
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
 Number                                                                                                Number   
----------------------------------------------------------------------------------------------------------------
5020        17 CFR 239.16  Simplification of Registration Statements Filed by, and Advertising                  
            Rules for, Unit Investment Trusts.....................................................    3235-AA47 
5021        17 CFR 270.6c-12(New)  Rule 6c-12 Under the Investment Company Act of 1940............    3235-AC84 
5022        17 CFR 275  Revisions to the Registration and the Annual Supplement Forms Used by                   
            Investment Advisers...................................................................    3235-AD21 
5023        17 CFR 240.15c3-3  Customer Protection Reserves and Custody of Securities.............    3235-AD60 
5024        17 CFR 240.14e-5  Debt Tender Offers..................................................    3235-AD69 
5025        17 CFR 210.3-20  Reporting Currency in Financial Statements Under Rule 3-20 of                      
            Regulation S-X........................................................................    3235-AD70 
5026        17 CFR 240.15c3-1  Net Capital Requirements for Brokers or Dealers....................    3235-AD79 
5027        17 CFR 240.15c2-11  Initiation or Resumption of Quotations Without Specific                         
            Information...........................................................................    3235-AD94 
5028        17 CFR 240.10b-7  Stabilizing To Facilitate a Distribution............................    3235-AE11 
5029        17 CFR 240.3b-10  Definitions Principally Relating to International Transactions......    3235-AE15 
5030        17 CFR 230.482  Tax Exempt Money Market Fund Rule Proposals...........................    3235-AE17 
5031        17 CFR 240.17Ad-16  Notice of Assumption or Termination of Transfer Agent Services....    3235-AE20 
5032        17 CFR 240.3b-3  Definition of ``Short Sale''.........................................    3235-AE41 
5033        17 CFR 240.13h-1  Large Trader Reporting System.......................................    3235-AE42 
5034        17 CFR 240.31-1  Securities Transactions Exempt From Transaction Fees.................    3235-AE52 
5035        17 CFR 270.31a-1  Investment Company Books and Records Requirements...................    3235-AE94 
5036        17 CFR 270.3a-5  Exemption for Subsidiaries Organized to Finance Operations of                      
            Domestic or Foreign Companies.........................................................    3235-AE95 
5037        17 CFR 270.17f-5  Rule 17f-5 Under the Investment Company Act of 1940.................    3235-AE98 
5038        17 CFR 270.15a-4  Temporary Exemption for Certain Investment Advisers.................    3235-AF57 
5039        17 CFR 270.12b-1  Amendments to Rules 12b-1 and 17d-3 Under the Investment Company Act              
            of 1940...............................................................................    3235-AF62 
5040        17 CFR 270.17f-2  Rule 17f-2 Under the Investment Company Act--Custody of Investments               
            by Registered Management Investment Company...........................................    3235-AF70 
5041        17 CFR 229  Asset-Backed Securities Disclosure........................................    3235-AF74 
5042        17 CFR 250.55  Exemption for Certain Acquisitions of One or More Foreign Utility                    
            Companies.............................................................................    3235-AF78 
5043        17 CFR 240.10b-10  Amendments to Confirmation Requirements of Rule 10b-10.............    3235-AF84 
5044        17 CFR 240.3a12-8  Amendment to Rule 3a12-8 Under the Securities Exchange Act of 1934.    3235-AF88 
5045        17 CFR 270.9a-1  Rule 9a-1: Exemption From Disqualification for Certain Affiliated                  
            Persons...............................................................................    3235-AF89 
5046        17 CFR 249.330  Amendments to Form-N-SAR, Semi-Annual Report of Registered Investment               
            Companies.............................................................................    3235-AF93 
5047        17 CFR 210  Accounting Treatment of Investment Company Expenses Paid Through Brokerage              
            Commission............................................................................    3235-AF94 
5048        17 CFR 230.482  Proposed Amendments to Form N-1A Pertaining to Money Market Funds.....    3235-AF95 
5049        17 CFR 270.17f-6  Custody of Investment Company Assets With Futures Commission                      
            Merchants and Commodity Clearing Organizations........................................    3235-AF97 
5050        17 CFR 240.10b-10(a)(7)(iii)  Disclosure of Payment for Order Flow....................    3235-AG00 
5051        17 CFR 240.17a-23  Recordkeeping and Reporting Requirements for Trading Systems                     
            Operated by Brokers and Dealers.......................................................    3235-AG03 
5052        17 CFR 250.46  Dividend Declarations and Payments on Certain Indebtedness.............    3235-AG04 
5053        17 CFR 259.313  Annual Report of Mutual and Subsidiary Service Companies..............    3235-AG05 
5054        17 CFR 275.204-2  Suitability of Investment Advice Provided by Investment Advisers;                 
            Custodial Account Statements To Be Sent to Certain Advisory Clients...................    3235-AG06 
5055        17 CFR 230.178  Disclosure of Information Required by Section 17(b) of the Securities               
            Act of 1933...........................................................................    3235-AG08 
5056        17 CFR 229.901  Limited Partnership Roll-up Transactions..............................    3235-AG09 
5057        17 CFR 249.3A12-11 New  Exemptive Relief and Simplification of Filing Requirements for              
            Debt Securities To Be Listed on a National Securities Exchange........................    3235-AG11 
5058        17 CFR 240.15c2-13  New Rule 15c2-13 Requiring Disclosure of Mark-ups.................    3235-AG12 
5059        17 CFR 240.15c2-12  Municipal Securities Disclosure...................................   3235-AG13  
----------------------------------------------------------------------------------------------------------------


                                                Final Rule Stage                                                
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
 Number                                                                                                Number   
----------------------------------------------------------------------------------------------------------------
5060        17 CFR 240.14a-1 to 240.14a-102  Revision of Investment Company Proxy Rules...........    3235-AA69 
5061        17 CFR 240.13d-1  Regulation 13D-G....................................................    3235-AD09 
5062        17 CFR 230.801(New)  Rule 801 and Registration Forms for Rights Offerings.............    3235-AD44 
5063        17 CFR 270.31a-2  Amendment to Rule 31a-2 Under the Investment Company Act of 1940....    3235-AD66 
5064        17 CFR 240.12g3-2(b)  Forms for Furnishing Information Pursuant to Rule 12g3-2(b)                   
            Under the Securities Exchange Act of 1934.............................................    3235-AD72 
5065        17 CFR 230  Summary Prospectuses......................................................    3235-AD90 
5066        17 CFR 200  International Tender and Exchange Offers..................................    3235-AD97 
5067        17 CFR 270.6c-10  Exemptions for Certain Registered Open-End Management Investment                  
            Companies To Impose Deferred Sales Loads..............................................    3235-AE97 
5068        17 CFR 270.18f-3 (New)  Exemption for Open-End Management Investment Companies Issuing              
            Multiple Classes of Shares; Disclosure by Multiple Class and Master-Feeder Funds......    3235-AF00 
5069        17 CFR 250.45  Revision of Registered Public Utility Company Financing Rules..........    3235-AF49 
5070        17 CFR 200.30-5  Expedited Procedure for Exemptive Orders and Expanded Delegated                    
            Authority.............................................................................    3235-AF56 
5071        17 CFR 230.482  Off-the-Page Prospectuses for Open-End Management Investment Companies    3235-AF58 
5072        17 CFR 250.7  Proposals To Update Rules and Forms Under the Public Utility Holding                  
            Company Act...........................................................................    3235-AF68 
5073        17 CFR 270.3a-8  Certain Research and Development Companies...........................    3235-AF69 
5074        17 CFR 250.56  Exemption for Subsidiary Companies of Registered Holding Companies                   
            Formed to Hold Interests in Foreign Companies.........................................    3235-AF79 
5075        17 CFR 230  Simplification of Registration Procedures for Securities Offerings by                   
            Foreign Private Issuers...............................................................    3235-AF83 
5076        17 CFR 230.415  Continuous or Delayed Offerings by Certain Closed-End Management                    
            Investment Companies; Automatic Effectiveness of Certain Registration Statements......    3235-AF86 
5077        17 CFR 250.87  Subsidiaries Authorized To Perform Services or Construction or To Sell               
            Goods.................................................................................    3235-AF87 
5078        17 CFR 201  Rules of Practice.........................................................    3235-AF91 
5079        17 CFR 200.30-5  Effective Date of Post-Effective Amendments Filed by Certain                       
            Registered Investment Companies, Separate Accounts of Insurance Companies and Certain               
            Closed-End Management Investment Companies............................................    3235-AF96 
5080        17 CFR 270.0-1  Redemptions by Open-End Management Investment Companies at Periodic                 
            Intervals or With Extended Payment....................................................    3235-AF98 
5081        17 CFR 275  Disclosure by Investment Adviser Regarding Wrap Fee Programs..............    3235-AG02 
5082        17 CFR 228  EDGAR Implementation......................................................   3235-AG10  
----------------------------------------------------------------------------------------------------------------


                                               Completed Actions                                                
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
 Number                                                                                                Number   
----------------------------------------------------------------------------------------------------------------
5083        17 CFR 240.15c2-10  Rule 15c2-10......................................................    3235-AC94 
5084        17 CFR 240.15c3-1  Net Capital Requirements for Brokers or Dealers....................    3235-AD62 
5085        17 CFR 210.3-19  Special Provisions as to Age of Financial Statements for Foreign                   
            Private Issuers Under Regulation S-X..................................................    3235-AD96 
5086        17 CFR 240.17a-3  Designation of Orders as ``Solicited'' and ``Unsolicited''..........    3235-AE18 
5087        17 CFR 210  Multijurisdictional Disclosure With the United Kingdom....................    3235-AE23 
5088        17 CFR 270.12d3-1  Amendments to Rule 12d3-1 Under the Investment Company Act of 1940.    3235-AE47 
5089        17 CFR 270.2a19-2  Investment Company General Partners Not Deemed Interested Persons;               
            Investment Company Limited Partners Not Deemed Affiliated Persons.....................    3235-AF01 
5090        17 CFR 270.10f-3  Revision of Certain Annual Review Requirements of Investment Company              
            Boards of Directors...................................................................    3235-AF60 
5091        17 CFR 240.24c-1(New)  Access to Nonpublic Information in the Commission's Possession.    3235-AF72 
5092        17 CFR 240.17a-5  Reports To Be Made by Certain Brokers and Dealers...................    3235-AF73 
5093        17 CFR 229  Amendments to the Multijurisdictional Disclosure System...................    3235-AF75 
5094        17 CFR 250.54  Effect of Exempt Wholesale Generators on Other Transactions............    3235-AF77 
5095        17 CFR 250.57  Notices and Reports Concerning Acquisition of Foreign Utility Companies    3235-AF80 
5096        17 CFR 250.53  Certain Registered Holding Company Financings in Connection With the                 
            Acquisition of One or More Exempt Wholesale Generators................................    3235-AF82 
5097        17 CFR 240.15c6-1  Securities Transactions Settlement.................................    3235-AF85 
5098        17 CFR 240.3a51-1  Penny Stock Definition for Purposes of the Blank Check Rule........    3235-AF90 
5099        17 CFR 229.402  Executive Compensation Disclosure.....................................    3235-AF92 
5100        17 CFR 270.3a-4  Rulemaking Regarding Individualized Investment Advisory Program......    3235-AF99 
5101        17 CFR 240.14a-6  Limitation of Filing Requirements for Preliminary Proxy Materials                 
            Under Certain Circumstances...........................................................   3235-AG01  
----------------------------------------------------------------------------------------------------------------

      
  
          
  

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SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage
  
  
_______________________________________________________________________
 
5012. TECHNICAL AMENDMENTS TO RULES 24F-1 AND 24F-2

Legal Authority:  15 USC 80a-8; 15 USC 80a-58; 15 USC 80a-24

CFR Citation:  17 CFR 274.11A; 17 CFR 270.24f-1; 17 CFR 270.24f-2

Legal Deadline: None

Abstract: The Division of Investment Management is considering changes 
in rules 24f-1 and 24f-2, the rules that permit certain investment 
companies to register securities sold in excess of the number of shares 
included in a registration statement, to clarify the rules' operation 
with respect to the measurement of time periods and filing requirements 
in the context of investment company reorganizations.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Kenneth J. Berman, Deputy Office Chief, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-5287

RIN: 3235-AC25
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage
  
  
_______________________________________________________________________
 
5013. NOTICE BY SRO OF PROPOSED ADMISSION TO OR CONTINUANCE IN MEMBERSHIP 
WITH ANY PERSON SUBJECT TO A STATUTORY DISQUALIFICATION

Legal Authority:  15 USC 78f; 15 USC 78o; 15 USC 78o-3; 15 USC 78o-4; 
15 USC 78q; 15 USC 78q-1; 15 USC 78g; 15 USC 78w

CFR Citation:  17 CFR 240.19h-1

Legal Deadline: None

Abstract: The Division of Market Regulation anticipates recommending to 
the Commission amendments to Rule 19h-1 under the Securities Exchange 
Act of 1934 (``Exchange Act''), which requires self-regulatory 
organizations (``SROs'') to submit to the Commission filings whenever a 
person subject to a statutory disqualification, as defined in Section 
3(a)(39) of the Exchange Act, seeks to become associated with or to 
continue an association with a broker-dealer, transfer agent or other 
SRO member. The proposed amendments will address changes that have 
expanded the types of misconduct that cause an individual to be subject 
to a statutory disqualification.

Timetable: Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Richard E. Pullano, Senior Counsel, Division of Market 
Regulation, Securities and Exchange Commission, 450 5th Street NW., 
Washington, DC 20549, 202 942-0752

RIN: 3235-AE39
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage
  
  
_______________________________________________________________________
 
5014. AMENDMENTS TO INVESTMENT COMPANY REGISTRATION FORM N-1A AND OTHER 
FORMS

Legal Authority:  15 USC 77a et seq; 15 USC 80a-1 et seq

CFR Citation:  17 CFR 230.482; 17 CFR 239.15; 17 CFR 274.11; 17 CFR 
239.23; 17 CFR 239.15A; 17 CFR 274.11A; 17 CFR 239.17a; 17 CFR 274.11b; 
17 CFR 239.17b; 17 CFR 274.11c

Legal Deadline: None

Abstract: The Division of Investment Management is reviewing the 
requirements of Form N-1A, the registration form for all open-end 
management investment companies registering under the 1933 and 1940 
Acts. The review will focus on ways to update and improve the 
disclosure requirements of the form, particularly for money market 
funds. The Division will also be addressing the incorporation by 
reference rules in the investment company registration forms.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: None

Agency Contact: Kenneth J. Berman, Deputy Office Chief, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2107

RIN: 3235-AE46
_______________________________________________________________________


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SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage
  
  
_______________________________________________________________________
 
5015. AMERICAN DEPOSITARY RECEIPTS

Legal Authority:  15 USC 77b; 15 USC 77f; 15 USC 77g; 15 USC 77h; 15 
USC 77j; 15 USC 77s; 15 USC 78c; 15 USC 78i; 15 USC 78j; 15 USC 78l; 15 
USC 78m; 15 USC 78n; 15 USC 78o; 15 USC 78q

CFR Citation:  17 CFR 230; 17 CFR 239; 17 CFR 240

Legal Deadline: None

Abstract: The Commission issued a release requesting information and 
comment with regard to the functioning and characteristics of the 
American depositary receipt marketplace, various regulatory issues 
under the Federal securities laws, including whether any changes to the 
registration process are necessary or appropriate, and duplication of 
depositary receipt facilities. The Commission received a large number 
of comment letters in response to the release.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

ANPRM                           05/23/91                    56 FR 24420
ANPRM Comment Period End        09/30/91


Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Paul M. Dudek, Chief, International Corporate Finance, 
Securities and Exchange Commission, Division of Corporation Finance, 
450 5th Street NW., Washington, DC 20549, 202 272-2585

RIN: 3235-AE57
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage
  
  
_______________________________________________________________________
 
5016. PROHIBITIONS AGAINST TRADING BY PERSONS INTERESTED IN A 
DISTRIBUTION; STABILIZING TO FACILITATE A DISTRIBUTION; DISTRIBUTIONS 
THROUGH RIGHTS

Legal Authority:  15 USC 78b; 15 USC 78c; 15 USC 78i(a); 15 USC 78j(b); 
15 USC 78m(e); 15 USC 78o(c)

CFR Citation:  17 CFR 240.10b-6; 17 CFR 240.10b-7; 17 CFR 240.10b-8

Legal Deadline: None

Abstract: Rule 10b-6 prohibits persons engaged in a distribution of 
securities from bidding for or purchasing, or inducing others to 
purchase, such securities, any security of the same class and series as 
those securities, or any right to purchase any such security, until 
they have completed their participation in the distribution. Rule 10b-7 
governs stabilizing activities to facilitate distributions of 
securities and Rule 10b-8 governs certain activities during 
distributions of securities through rights. The Commission has proposed 
a comprehensive review of Rules 10b-6, 10b-7, and 10b-8. This review 
will examine both the domestic application of those rules and well as 
the extraterritorial effect of their application on multinational 
securities distributions. This review also would address such issues as 
distribution and stabilization practices in the U.S. and abroad, and 
the impact of the rules on activities in foreign jurisdictions.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Nancy J. Sanow, Assistant Director, Office of Trading 
Practices, Securities and Exchange Commission, Division of Market 
Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-4892

RIN: 3235-AF54
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage
  
  
_______________________________________________________________________
 
5017. OWNERSHIP REPORTS AND TRADING BY OFFICERS, DIRECTORS, AND PRINCIPAL 
SECURITY HOLDERS

Legal Authority:  15 USC 78n(d); 15 USC 78p(a); 15 USC 78p(b); 15 USC 
78p(c); 15 USC 78w(a)

CFR Citation:  17 CFR 240.16a-1 to 240.16a-11; 17 CFR 240.16b-1 to 
240.16b-11

Legal Deadline: None

Abstract: The Division is considering whether to recommend to the 
Commission proposed amendments to rules under section 16 of the 
Securities Exchange Act of 1934 designed to streamline reporting by a 
public company's officers, directors and significant shareholders of 
transactions in the company's securities.

Timetable: Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Elizabeth M. Murphy, Special Counsel, Office of 
Disclosure Policy, Securities and Exchange Commission, Division of 
Corporation Finance, 450 5th Street NW., Washington, DC 20549, 202 272-
2589

RIN: 3235-AF66
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage
  
  
_______________________________________________________________________
 
5018. APPLICABILITY OF SECTION 30(F) OF THE INVESTMENT COMPANY ACT OF 
1940 TO CERTAIN AFFILIATED PERSONS OF AN INVESTMENT ADVISER TO A 
REGISTERED CLOSED-END INVESTMENT COMPANY

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-37; 15 USC 80a-29(f)

CFR Citation:  17 CFR 270.30f-1

Legal Deadline: None

Abstract: The Division of Investment Management is considering whether 
to recommend that the Commission issue a release requesting public 
comment on a proposed amendment to Rule 30f-1 under the Investment 
Company Act of 1940 which would relieve certain affiliated persons of 
an investment adviser to a registered closed-end investment company 
from the filing requirements under Section 16 of the Securities 
Exchange Act of 1934, made applicable by Section 30(f) of the 
Investment Company Act. The proposed amendment is intended to exempt 
certain affiliated persons of an investment adviser that are not in a 
position to obtain confidential information about the registered 
closed-end investment company or to influence or effect a change in the 
company's policies, consistent with the purposes of Section 30(f) and 
Section 16 of the Securities Exchange Act.

Timetable: Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: Undetermined

Agency Contact: Julia S. Ulstrup, Senior Counsel, Office of Chief 
Counsel, Securities and Exchange Commission, Division of Investment 
Management, 450 5th Street NW., Washington, DC 20549, 202 272-2030

RIN: 3235-AF81
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage
  
  
_______________________________________________________________________
 
5019.  STAFF INTERPRETIVE STATEMENT ON WRAP FEE PROGRAMS

Legal Authority:  15 USC 80b-1 to 80b-21

CFR Citation:  17 CFR 271 to 276

Legal Deadline: None

Abstract: The Securities and Exchange Commission is considering 
publishing the views of the Division of Investment Management regarding 
the application of the Investment Company Act of 1940 to Wrap Fee 
programs, and the application of certain provisions of the Investment 
Advisers Act of 1940 to investment advisers who sponsor or participate 
in those programs. Specifically, the interpretive statement provides 
general guidance for sponsors and portfolio managers so they may avoid 
creating and operating an unregistered investment company. The 
interpretive statement also discusses wrap fee program advisers' 
responsibilities regarding suitability, best execution, principal 
transactions, and the disclosure of compensation arrangements.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Monica L. Parry, Senior Counsel, Office of Chief 
Counsel, Securities and Exchange Commission, Division of Investment 
Management, 450 5th Street NW., Washington, DC 20549, 202 272-2030

RIN: 3235-AG07
_______________________________________________________________________
  

_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5020. SIMPLIFICATION OF REGISTRATION STATEMENTS FILED BY, AND ADVERTISING 
RULES FOR, UNIT INVESTMENT TRUSTS

Legal Authority:  15 USC 80a-8; 15 USC 77g; 15 USC 77j

CFR Citation:  17 CFR 239.16; 17 CFR 274.12

Legal Deadline: None

Abstract: On March 9, 1987, the Commission reproposed for public 
comment Form N-7, a new form for registering unit investment trusts 
(UITs) and their securities under the Investment Company Act of 1940 
and the Securities Act of 1933. Form N-7 was originally proposed by the 
Commission on May 14, 1985. Adoption of Form N-7 would: (1) codify the 
disclosure requirements for UITs into one form; (2) codify the 
disclosure standards that have been developed for UITs; and (3) shorten 
and simplify the prospectus used in connection with the sale of units 
in both the initial offering and in the secondary market maintained by 
the sponsor. The requirement for audited financial statements would be 
eliminated under certain circumstances. Under the reproposal, the 
requirement that registrants include certain third-party financial 
statements in the registration statement would be extended to insurers 
as well as guarantors of portfolio securities of the trust. The 
Division of Investment Management is also undertaking to develop for 
recommendation to the Commission a rule proposal setting forth a 
uniform method of computing UIT yields.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            05/23/85                    50 FR 21282
ANPRM Comment Period End        07/31/85
Reproposing Release             03/17/87                     52 FR 8268
NPRM Comment Period End         05/18/87


Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: Federal

Agency Contact: Eric Freed, Senior Attorney, Securities and Exchange 
Commission, Division of Investment Management, 450 5th Street NW., 
Washington, DC 20549, 202 272-2107

RIN: 3235-AA47
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5021. RULE 6C-12 UNDER THE INVESTMENT COMPANY ACT OF 1940

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.6c-12(New)

Legal Deadline: None

Abstract: The Division of Investment Management is considering whether 
to recommend that the Commission propose a rule that would codify many 
exemptions from provisions of the Investment Company Act granted to 
two-tier real estate limited partnerships. Exemptions pursuant to 
section 6(c) of the Act have generally been granted where: 1) The two-
tier partnership invests in limited partnerships engaged in the 
development and building of housing for low- and moderate-income 
persons; 2) the limited partnership interests are sold only to suitable 
investors; and 3) requirements for fair dealing by the general partner 
of the issuer with the limited partners of the issuer are included in 
the basic organizational documents of the partnership.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            09/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Diane C. Blizzard, Assistant Director, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2707

RIN: 3235-AC84
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5022. REVISIONS TO THE REGISTRATION AND THE ANNUAL SUPPLEMENT FORMS USED 
BY INVESTMENT ADVISERS

Legal Authority:  15 USC 78o(b)(1); 15 USC 78w(a); 15 USC 80b-3; 15 USC 
80b-4; 15 USC 80b-6A; 15 USC 80b-11

CFR Citation:  17 CFR 275; 17 CFR 279

Legal Deadline: None

Abstract: The Division of Investment Management is considering whether 
to recommend that the Commission revise Form ADV, the investment 
adviser registration form, and related rules to: (1) request 
information related to the Commission's recently expanded enforcement 
authority, (2) enhance disclosure of information about the advisory 
relationship provided to clients and prospective clients, and (3) 
require annual amendment of the form. The enhanced disclosure would 
include additional requirements regarding ``soft-dollar'' allocations.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            09/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Eric Freed, Attorney, Securities and Exchange 
Commission, Division of Investment Management, 450 5th Street NW., 
Washington, DC 20549, 202 272-2107

RIN: 3235-AD21
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5023. CUSTOMER PROTECTION RESERVES AND CUSTODY OF SECURITIES

Legal Authority:  15 USC 78o(c)(3); 15 USC 78w

CFR Citation:  17 CFR 240.15c3-3

Legal Deadline: None

Abstract: The Commission has proposed an amendment to the customer 
protection rule that would allow broker-dealers to provide, in addition 
to the instruments currently listed in the rule, certain other 
securities as the collateral in securities borrowings.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/15/89                    54 FR 10680
NPRM Comment Period End         05/01/89


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Tim Thompson, Branch Chief, Securities and Exchange 
Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 942-3159

RIN: 3235-AD60
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5024. DEBT TENDER OFFERS

Legal Authority:  15 USC 77g; 15 USC 77j; 15 USC 77s; 15 USC 77aa(12); 
15 USC 781; 15 USC 78o(d); 15 USC 78w; 15 USC 78(e)

CFR Citation:  17 CFR 240.14e-5

Legal Deadline: None

Abstract: The Divisions of Corporation Finance and Market Regulation 
are jointly considering whether to recommend that the Commission issue 
proposals to amend its rule applicable to debt tender offers.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Additional Information: The agency contact for the Division of Market 
Regulation is Nancy J. Sanow, Assistant Director, Office of Trading 
Practices, 202 272-2848.

Agency Contact: Gregg Corso, Chief, Office of Tender Offers, Securities 
and Exchange Commission, Division of Corporation Finance, 450 5th 
Street NW., Washington, DC 20549, 202 272-3097

RIN: 3235-AD69
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5025. REPORTING CURRENCY IN FINANCIAL STATEMENTS UNDER RULE 3-20 OF 
REGULATION S-X

Legal Authority:  15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77j; 15 
USC 77s; 15 USC 77aa(25); 15 USC 77aa(26); 15 USC 781; 15 USC 78n; 15 
USC 78o(d); 15 USC 78w(a); 15 USC 79e; 15 USC 79n; 15 USC 79k(a); 15 
USC 80a-8; ...

CFR Citation:  17 CFR 210.3-20

Legal Deadline: None

Abstract: The Division of Corporation Finance is considering whether to 
recommend that the Commission propose revisions to Rule 3-20 of 
Regulation S-X that would clarify provisions allowing a foreign private 
issuer to state its financial statements in a currency other than that 
of the country in which it is incorporated or organized. In lieu of 
that rule's present reference to the issuer's primary economic 
environment, the revised rule would identify characteristics of the 
issuer that would guide the selection of a reporting currency.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Additional Information: 15 USC 80a-29

Agency Contact: Robert A. Bayless, Chief Accountant, Securities and 
Exchange Commission, Division of Corporation Finance, 450 5th Street 
NW., Washington, DC 20549, 202 272-2553

RIN: 3235-AD70
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5026. NET CAPITAL REQUIREMENTS FOR BROKERS OR DEALERS

Legal Authority:  15 USC 78o(c)(3); 15 USC 78q; 15 USC 78w

CFR Citation:  17 CFR 240.15c3-1

Legal Deadline: None

Abstract: The Commission proposed amendments to the net capital rule 
that would raise the minimum net capital requirement for certain 
introducing broker-dealers, for other classes of broker-dealers that 
never receive customer securities, and for broker-dealers that make 
markets in securities. These proposed increases to the minimum net 
capital requirements are in addition to final amendments to the net 
capital rule adopted December 2, 1992 that, among other things, raised 
the minimum net capital required of clearing broker-dealers, broker-
dealers exempt from rule 15c-3 under paragraph (k) (2) (i) of that rule 
and certain introducing broker-dealers. In addition, the two methods of 
computing deductions for equity securities positions, or haircuts, were 
standardized. Certain changes also were made to the computation were in 
response to the October 1987 market break and as part of the Division 
of Market Regulations' comprehensive market break study, which examined 
the appropriate levels of minimum net capital required of registered 
broker-dealers.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

Interim Final Rule              11/24/92                    57 FR 59693
NPRM                            12/02/92                    57 FR 57027
NPRM Comment Period End         02/05/93


Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Roger G. Coffin, Branch Chief, Securities and Exchange 
Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 942-3159

RIN: 3235-AD79
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5027. INITIATION OR RESUMPTION OF QUOTATIONS WITHOUT SPECIFIC INFORMATION

Legal Authority:  15 USC 78w; 15 USC 78c; 15 USC 78j(b); 15 USC 78o(c); 
15 USC 78q(a); 15 USC 78w(a)

CFR Citation:  17 CFR 240.15c2-11

Legal Deadline: None

Abstract: Rule 15c2-11 governs the submission or publication of 
quotations by brokers or dealers for certain over-the-counter 
securities. Currently, the rule applies principally to the initiation 
or resumption of quotations in the National Daily Quotation Service, 
which is also known as the ``pink sheets.'' The Commission has proposed 
amendments to the rule that would substantially narrow the piggyback 
exception so that self-piggybacking would be excepted under defined 
conditions and every broker-dealer generally would be required to 
obtain and review the specified information before submitting a 
quotation for a covered security. An additional amendment would 
encourage the creation of one or more central information repositories 
by permitting broker-dealers, under certain conditions, to rely on the 
presence of required issuer information in such a repository instead of 
maintaining those files internally. The amendments would further the 
Commission's efforts to combat fraud and manipulative conduct in the 
penny stock market.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            04/25/91                    56 FR 19158
NPRM Comment Period End         01/01/92


Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Nancy J. Sanow, Assistant Director, Office of Trading 
Practices, Securities and Exchange Commission, Division of Market 
Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-4892

RIN: 3235-AD94
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5028. STABILIZING TO FACILITATE A DISTRIBUTION

Legal Authority:  15 USC 78i(a)(6); 15 USC 78j(b); 15 USC 78q(a); 15 
USC 78w(a); 15 USC 78dd(a)

CFR Citation:  17 CFR 240.10b-7

Legal Deadline: None

Abstract: The Commission has proposed amendments to Rule 10b-7, which 
regulates stabilizing activities to facilitate distribution. The 
proposed amendments would permit the stabilizing price in a 
distribution of a foreign security to reflect the price of the security 
in the foreign market that is the principal market for such security, 
if the stabilizing activity otherwise complies with the rule. 
Adjustments of stabilizing bids based on exchange rate fluctuations 
between the currencies of the markets on which the security is being 
stabilized would also be permitted. The amendments would also deem 
foreign stabilizing transactions during a distribution of a foreign 
security in the United States made in compliance with comparable 
foreign regulations not to be in violation of Rule 10b-7.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            01/09/91                      56 FR 814
NPRM Comment Period End         02/25/91


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Nancy J. Sanow, Assistant Director, Office of Trading 
Practices, Securities and Exchange Commission, Division of Market 
Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-4892

RIN: 3235-AE11
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5029. DEFINITIONS PRINCIPALLY RELATING TO INTERNATIONAL TRANSACTIONS

Legal Authority:  15 USC 78b; 15 USC 78c(b); 15 USC 78w(a)

CFR Citation:  17 CFR 240.3b-10

Legal Deadline: None

Abstract: The Commission has proposed rule 3b-10, which defines certain 
terms principally relating to international transactions, general 
definitions of terms relevant to the increasing internationalization of 
world securities markets rather than identical definitions in the 
context of individual rulemaking proposals.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            01/09/91                      56 FR 820
NPRM Comment Period End         02/25/91


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Nancy J. Sanow, Assistant Director, Office of Trading 
Practices, Securities and Exchange Commission, Division of Market 
Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-4892

RIN: 3235-AE15
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5030. TAX EXEMPT MONEY MARKET FUND RULE PROPOSALS

Legal Authority:  15 USC 80a-2(a)(41); 15 USC 80a-6(c); 15 USC 80a-
33(b)(1); 15 USC 80a-34(b); 15 USC 80a-38(a); 15 USC 77f; 15 USC 77g; 
15 USC 77h; 15 USC 77s; 15 USC 78m; 15 USC 78n; 15 USC 78w; 15 USC 80a-
37

CFR Citation:  17 CFR 230.482; 17 CFR 239.15A; 17 CFR 270.34b-1; 17 CFR 
274.11A; 17 CFR 274.11c; 17 CFR 270.2a-7; 17 CFR 210.12-12; 17 CFR 
230.134; 17 CFR 274.101

Legal Deadline: None

Abstract: The proposals address issues raised by developments in the 
money markets since 1983. The Division of Investment Management 
reviewed the conditions of rule 2a-7 applicable to tax exempt funds and 
made recommendations to the Commission to modify those conditions, 
which the Commission then proposed for public comment.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            12/29/93                    58 FR 68585
NPRM Comment Period End         04/06/94
Final Action                    09/00/94

Small Entities Affected: Businesses

Government Levels Affected: State, Local, Federal

Agency Contact: Martha H. Platt, Senior Attorney, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2107

RIN: 3235-AE17
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5031. NOTICE OF ASSUMPTION OR TERMINATION OF TRANSFER AGENT SERVICES

Legal Authority:  15 USC 78c; 15 USC 78q; 15 USC 78q-1; 15 USC 78w(a)

CFR Citation:  17 CFR 240.17Ad-16

Legal Deadline: None

Abstract: The Commission proposed for comment Rule 17Ad-16 under the 
Securities Exchange Act of 1934. Rule 17Ad-16, if adopted, would 
require a transfer agent to provide written notice to securities 
depositories when terminating or assuming transfer agent services on 
behalf of an issuer or when changing its name or address. The proposed 
rule would increase the efficiency of the National System for the 
Clearance and Settlement of Securities Transactions as set forth in 
section 17A of the Act Transfer agents with no name or address changes 
and with no change in the issues for which they provide services would 
not be affected by this rule and do not need to file a notice.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            01/06/92                     57 FR 1128
NPRM Comment Period End         02/09/93


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Ester Saverson, Special Counsel, Branch of Transfer 
Agent Regulation, Securities and Exchange Commission, Division of 
Market Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-
0165

RIN: 3235-AE20
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5032. DEFINITION OF ``SHORT SALE''

Legal Authority:  15 USC 78b; 15 USC 78j(a); 15 USC 78dd(a)

CFR Citation:  17 CFR 240.3b-3; 17 CFR 240.10a-1

Legal Deadline: None

Abstract: The Division of Market Regulation recommended that the 
Commission amend Rule 10a-1, which prohibits short sales under certain 
circumstances. The proposals would provide an exception to permit 
specialists to equalize the opening price of a foreign security on a 
U.S. exchange with its price in the principal foreign market, to 
exclude from application of the rule transactions in nonconvertible 
corporate bonds effected on an exchange, and to codify a no-action 
position relating to certain liquidations of index arbitrage positions. 
The proposed amendments redesignate certain current provisions of Rule 
10a-1. The amendments, if adopted, also would clarify Rule 3b-3's 
definition of ownership of a security.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            06/09/92                    57 FR 24415
NPRM Comment Period End         08/10/92


Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: M. Blair Corkran, Senior Special Counsel, Office of 
Trading Practices, Securities and Exchange Commission, Division of 
Market Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-
4892

RIN: 3235-AE41
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5033. LARGE TRADER REPORTING SYSTEM

Legal Authority:  15 USC 77c; 15 USC 77d; 15 USC 77s; 15 USC 77ttt; 15 
USC 78c; 15 USC 78d; 15 USC 78i; 15 USC 78j; 15 USC 78l; 15 USC 78m; 15 
USC 78n; 15 USC 78o; 15 USC 78p; 15 USC 78s; 15 USC 78w

CFR Citation:  17 CFR 240.13h-1

Legal Deadline: None

Abstract: The Commission has released for comment reproposed Rule 13h-
1. Rule 13h-1 would require large traders to disclose accounts to the 
Commission, and would require broker-dealers to maintain and report 
large trader transaction records to the Commission.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            02/17/94                     59 FR 7917
NPRM Comment Period End         04/18/94

Small Entities Affected: None

Government Levels Affected: Undetermined

Additional Information: LEGAL AUTHORITY CONT: 15 USC 78x; 15 USC 79q; 
15 USC 79t; 15 USC 80a-29; 15 USC 80a-37

Agency Contact: Nicholas T. Chapekis, Special Counsel, Securities and 
Exchange Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 942-0757

RIN: 3235-AE42
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5034. SECURITIES TRANSACTIONS EXEMPT FROM TRANSACTION FEES

Legal Authority:  15 USC 78a et seq; 15 USC 77c et seq

CFR Citation:  17 CFR 240.31-1; 17 CFR 240.31-1(g)

Legal Deadline: None

Abstract: The proposal provides an exemption from the payment of fees 
for certain securities transactions. Many transactions occurring after 
regular trading hours involve portfolio trades. When executed overseas, 
these transactions currently may be exempt from section 31 transaction 
fees pursuant to Rule 31-a(e). The amendment to Rule 31-1, as proposed 
by the Commission, would provide a limited exemption from the payment 
of section 31 fees for sales involving 15 securities or more at one 
aggregate price occurring on or off an exchange in listed securities 
after regular trading hours. By aligning the exemption for after-hours 
portfolio trading to match the treatment for overseas trading, the 
proposal will remove an incentive for executing these trades overseas.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            06/03/91                    56 FR 25056
NPRM Comment Period End         07/03/91


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Additional Information: ADDITIONAL AGENCY CONTACT: Cheryl Dunfee 202 
272-3996.

Agency Contact: Sandy Sciole, Special Counsel, Securities and Exchange 
Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 942-0183

RIN: 3235-AE52
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5035. INVESTMENT COMPANY BOOKS AND RECORDS REQUIREMENTS

Legal Authority:  15 USC 80a-31(a); 15 USC 80a-37(a); 15 USC 80a-39

CFR Citation:  17 CFR 270.31a-1; 17 CFR 270.31a-2

Legal Deadline: None

Abstract: The staff has commenced a comprehensive review of the books 
and records requirements under the Investment Company Act to update 
certain requirements relating to the portfolio transaction records of 
investment companies. In particular, current requirements under rules 
31a-1 and 31a-2 may be revised to enhance identification of securities 
in investment company portfolios. The primary objective of the 
proposals would be to improve the staff's abilities to conduct 
meaningful and efficient examinations of investment companies.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: None

Agency Contact: Peter L. Smith, Branch Chief, Securities and Exchange 
Commission, Division of Investment Management, 450 5th Street NW., 
Washington, DC 20549, 202 272-7812

RIN: 3235-AE94
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5036. EXEMPTION FOR SUBSIDIARIES ORGANIZED TO FINANCE OPERATIONS OF 
DOMESTIC OR FOREIGN COMPANIES

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.3a-5

Legal Deadline: None

Abstract: The Division of Investment Management is considering whether 
to recommend that the Commission propose amendments to rule 3a-5 to 
permit finance subsidiaries of United States banks and insurance 
companies to rely on the rule. Expanding the coverage of the exemptive 
rule could reduce regulatory burdens otherwise present.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            09/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Diane C. Blizzard, Assistant Director, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20459, 504 272-2408

RIN: 3235-AE95
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5037. RULE 17F-5 UNDER THE INVESTMENT COMPANY ACT OF 1940

Legal Authority:  15 USC 80a-17(f); 15 USC 80a-6(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.17f-5

Legal Deadline: None

Abstract: Rule 17f-5 permits U.S.-registered investment companies to 
maintain certain securities and other assets in the custody of an 
``eligible foreign custodian,'' as that term is defined in the rule. In 
response to comments that the present definition of eligible foreign 
custodian and other provisions of the rule are too restrictive, the 
staff is considering whether to recommend that the Commission propose 
amendments to the rule. This matter is a reconsideration of an item 
that was previously on the Unified Agenda and withdrawn (see prior RIN 
3235-AC85).

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            05/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Matthew M. O'Toole, Staff Attorney, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 504-2834

RIN: 3235-AE98
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5038. TEMPORARY EXEMPTION FOR CERTAIN INVESTMENT ADVISERS

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.15a-4

Legal Deadline: None

Abstract: The Division is considering whether to amend rule 15a-4 to 
permit an adviser conditionally to serve at contract fee during a short 
interim period, prior to shareholder approval of the new contract and 
following an ``unforeseeable'' or ``uncontrollable'' assignment of the 
advisory contract, e.g., triggered by an acquisition of the parent 
company of the adviser where the fund and adviser are not informed 
sufficiently in advance to obtain shareholder approval.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            09/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Diane C. Blizzard, Assistant Director, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AF57
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5039. AMENDMENTS TO RULES 12B-1 AND 17D-3 UNDER THE INVESTMENT COMPANY 
ACT OF 1940

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-12(b); 15 USC 80a-17(d); 
15 USC 80a-22(c); 15 USC 80a-37(a); 15 USC 80a-39

CFR Citation:  17 CFR 270.12b-1; 17 CFR 270.17d-3

Legal Deadline: None

Abstract: The Commission has proposed, and received comments on, 
amendments to rules 12b-1 and 17d-3 under the Investment Company Act of 
1940. The proposed amendments to rule 12b-1 would clarify and enhance 
standards for the approval or continuation of Rule 12b-1 distribution 
plans, place limits on certain practices that have developed under the 
rule, and prohibit funds using these plans from holding themselves out 
as no-load funds. The proposed amendments to rule 17d-3 would allow a 
mutual fund, under certain conditions, to enter into joint distribution 
agreements with affiliated funds, other affiliated persons, and the 
fund's principal underwriter. The Division of Investment Management 
withdrew the proposal from the Unified Agenda to consider it in the 
context of a comprehensive study of the Act. The Division now is 
reconsidering the proposal, in light of the study's recommendations, as 
a separate rulemaking proposal.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            06/13/88                    53 FR 23258
NPRM Comment Period End         12/14/88                    53 FR 35830


Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Diane C. Blizzard, Assistant Director, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AF62
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5040. RULE 17F-2 UNDER THE INVESTMENT COMPANY ACT--CUSTODY OF INVESTMENTS 
BY REGISTERED MANAGEMENT INVESTMENT COMPANY

Legal Authority:  15 USC 80a-17(f); 15 USC 80a-6(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.17f-2

Legal Deadline: None

Abstract: The Division of Investment Management is considering whether 
to recommend that the Commission propose amendments to rule 17f-2 under 
the Investment Company Act of 1940, which governs the circumstances 
under which the securities and similar investments of a registered 
management investment company may be maintained in the custody of such 
company.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            07/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Matthew M. O'Toole, Staff Attorney, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 504-2834

RIN: 3235-AF70
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5041. ASSET-BACKED SECURITIES DISCLOSURE

Legal Authority:  15 USC 77e; 15 USC 77f; 15 USC 77g; 15 USC 77h; 15 
USC 77j; 15 USC 77s; 15 USC 78l; 15 USC 78m; 15 USC 78n; 15 USC 78o; 15 
USC 78w

CFR Citation:  17 CFR 229; 17 CFR 230; 17 CFR 239; 17 CFR 240; 17 CFR 
249

Legal Deadline: None

Abstract: The Division of Corporation Finance is considering whether to 
recommend to the Commission proposed amendments to revise rules and 
forms which would specify disclosure requirements for asset-backed 
securities transactions.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Michael H. Mitchell, Senior Counsel, Securities and 
Exchange Commission, Division of Corporation Finance, 450 5th Street 
NW., Washington, DC 20549, 202 272-2573

RIN: 3235-AF74
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5042. EXEMPTION FOR CERTAIN ACQUISITIONS OF ONE OR MORE FOREIGN UTILITY 
COMPANIES

Legal Authority:  15 USC 79(t); 15 USC 79(n)

CFR Citation:  17 CFR 250.55; 17 CFR 259.5s(Revision)

Legal Deadline: None

Abstract: The proposed rule is intended to provide a safe harbor for 
the acquisition of one or more foreign utility companies by a 
registered holding company.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/08/93                    58 FR 13719
NPRM Comment Period End         04/14/93


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Karen McMillan, Staff Attorney, Office of Public 
Utility Regulation, Securities and Exchange Commission, Division of 
Investment Management, 450 5th Street NW., Washington, DC 20549, 202 
504-3387

RIN: 3235-AF78
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5043. AMENDMENTS TO CONFIRMATION REQUIREMENTS OF RULE 10B-10

Legal Authority:  15 USC 78c; 15 USC 78i; 15 USC 78j; 15 USC 78k; 15 
USC 78o; 15 USC 78g; 15 USC 78w

CFR Citation:  17 CFR 240.10b-10

Legal Deadline: None

Abstract: The Commission is proposing to amend Rule 10b-10, the 
Commission's confirmation rule. The proposed amendments to Rule 10b-10 
would: (i) add a preliminary note to the rule indicating that the 
rule's disclosure requirements do not limit disclosure necessary under 
the antifraud provisions; (ii) require disclosure of mark-ups and mark-
down for riskless principal transactions in debt securities other than 
U.S. Savings Bonds or municipal securities; (iii) require disclosure 
when a debt security other than certain government securities is not 
rated by a nationally recognized statistical rating organization; (iv) 
require disclosure of mark-ups and mark-down in in small capitalization 
NASDAQ exchange-listed securities; (v) require disclosure whether 
customer accounts are not carried by broker-dealers that are members of 
the Securities Investor Protection Corporation; and (vi) clarify yield 
disclosure requirements for transactions in mortgage-backed securities.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            04/00/94
NPRM Comment Period End         06/15/94

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: C. Dirk Peterson, Attorney, Office of Chief Counsel, 
Securities and Exchange Commission, Division of Market Regulation, 450 
5th Street NW., Washington, DC 20549, 202 942-0073

RIN: 3235-AF84
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5044. AMENDMENT TO RULE 3A12-8 UNDER THE SECURITIES EXCHANGE ACT OF 1934

Legal Authority:  15 USC 78(a) to 78(w)

CFR Citation:  17 CFR 240.3a12-8

Legal Deadline: None

Abstract: The proposed rule would designate debt obligations issued by 
the Kingdom of Spain as exempted securities for purposes of marketing 
and trading of futures contracts on these securities in the United 
States. The amendment is intended to permit futures on Spanish 
government debt to be traded in the U.S. This change is not intended to 
have any substantive effect on the operation of the rule.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            05/04/93                    58 FR 27684
NPRM Comment Period End         06/10/93


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Michael A. Walinskas, Staff Attorney, Securities and 
Exchange Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 942-0195

RIN: 3235-AF88
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5045. RULE 9A-1: EXEMPTION FROM DISQUALIFICATION FOR CERTAIN AFFILIATED 
PERSONS

Legal Authority:  15 USC 80a-9(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.9a-1

Legal Deadline: None

Abstract: Section 9(a)(3) of the Investment Company Act prohibits any 
company from serving as employee, officer, director, member of an 
advisory board, investment adviser, or depositor of any registered 
investment company or principal underwriter for any registered, open-
end company, registered unit investment trust, or registered face 
amount certificate company, if section 9(a)(1) or 9(a)(2) prohibits any 
affiliated person of that company from serving in any such capacity. 
The Commission has exempted several companies from section 9(a)(3) 
where the disqualified affiliated person does not perform or have any 
ability to affect the work the company does for the investment company, 
registered unit investment trust, or registered face amount certificate 
company. The Division of Investment Management is considering whether 
to recommend that the Commission propose a rule providing such an 
exemption.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            06/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Roseanne Harford, Senior Counsel, Office of Regulatory 
Policy, Securities and Exchange Commission, Division of Investment 
Management, 450 5th Street NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AF89
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5046. AMENDMENTS TO FORM-N-SAR, SEMI-ANNUAL REPORT OF REGISTERED 
INVESTMENT COMPANIES

Legal Authority:  15 USC 78n; 15 USC 78o(d); 15 USC 78w(a); 15 USC 80a-
8; 15 USC 80a-29; 15 USC 80a-37

CFR Citation:  17 CFR 249.330; 17 CFR 274.101

Legal Deadline: None

Abstract: The Division of Investment Management is considering whether 
to recommend that the Commission amend Form-N-SAR, the semi-annual 
report for registered investment companies, to update the items of the 
form.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            05/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Carolyn Miller, Senior Financial Analyst, Securities 
and Exchange Commission, Division of Investment Management, 450 5th 
Street NW., Washington, DC 20549, 202 272-3784

RIN: 3235-AF93
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5047. ACCOUNTING TREATMENT OF INVESTMENT COMPANY EXPENSES PAID THROUGH 
BROKERAGE COMMISSION

Legal Authority:  15 USC 80a-8; 15 USC 77g; 15 USC 77j

CFR Citation:  17 CFR 210; 17 CFR 274

Legal Deadline: None

Abstract: The Division of Investment Management is considering whether 
to recommend that the Commission require investment companies to 
reflect as expenses the cost of services provided to the company that 
are paid for by a broker-dealer in exchange for the allocation of 
transactions to that broker-dealer. The amendments would address 
whether such costs should be reflected in expenses in fund financial 
statements and in fund performance and expense data.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            05/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Eric Freed, Senior Attorney, Securities and Exchange 
Commission, Division of Investment Management, 450 5th Street NW., 
Washington, DC 20549, 202 272-2107

RIN: 3235-AF94
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5048. PROPOSED AMENDMENTS TO FORM N-1A PERTAINING TO MONEY MARKET FUNDS

Legal Authority:  15 USC 77a et seq; 15 USC 80a-1 et seq

CFR Citation:  17 CFR 230.482; 17 CFR 299.15A; 17 CFR 274.11A

Legal Deadline: None

Abstract: The staff of the Division of Investment Management is 
considering recommending to the Commission amendments to Form N-1A and 
Form N-3, the registration forms used by mutual funds and insurance 
company separate accounts under the Investment Company Act of 1940 and 
the Securities Act of 1933, that would significantly shorten and 
simplify prospectuses for those registrants that hold themselves out as 
money market funds or separate accounts. The changes the staff is 
considering would provide investors with more easily understandable 
information about money market funds in prospectuses, while continuing 
to make more detailed information available through the Statement of 
Additional Information (``SAI''). Such amendments are also intended to 
reduce the cost to funds of preparing, printing, and distributing 
prospectuses. The proposals would also make conforming rule and form 
amendments and revisions to staff guides to Form N-1A and Form N-3.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Martha H. Platt, Senior Attorney, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2107

RIN: 3235-AF95
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5049. CUSTODY OF INVESTMENT COMPANY ASSETS WITH FUTURES COMMISSION 
MERCHANTS AND COMMODITY CLEARING ORGANIZATIONS

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.17f-6

Legal Deadline: None

Abstract: The Division of Investment Management is considering whether 
to recommend that the Commission propose a rule to let registered 
management investment companies use certain futures commission 
merchants and commodity clearing organizations as custodians of their 
assets in connection with investment company commodity transactions.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            04/00/94

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Elizabeth R. Krentzman, Special Counsel, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-5416

RIN: 3235-AF97
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5050.  DISCLOSURE OF PAYMENT FOR ORDER FLOW

Legal Authority:  15 USC 78a; 15 USC 78k-1; 15 USC 78o; 15 USC 78j

CFR Citation:  17 CFR 240.10b-10(a)(7)(iii); 17 CFR 240.11Ac1-3; 17 CFR 
240.10b-10(e)(9)

Legal Deadline: None

Abstract: The Commission proposed for comment amendments to rules 10b-
10(a)(7)(iii) and 10b-10(e)(9) and proposed rule 11Ac1-3 under the 
Securities Exchange Act of 1934. Amended rule 10b-10(a)(7)(iii), if 
adopted, would require a broker-dealer to include on the confirmation 
of each transaction whether payment for order flow was received, and, 
if so, the amount of any monetary payment, discount, rebate or 
reduction in fee received in connection with the transaction. Rule 10b-
10(e)(9), if amended, would define payment for order flow to include 
all forms or arrangements compensating for diverting order flow.
New rule 11Ac1-3, if adopted, would require disclosure on each new 
account statement and on a yearly basis thereafter on the annual 
account statement, the firm's policies regarding payment for order flow 
practices in exchange-listed and NASDAQ national market system 
securities; and information regarding the firm's aggregate amount of 
monetary-based payment for order flow compensation.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            10/13/93                    58 FR 52934
NPRM Comment Period End         12/03/93


Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Jill Ostergaard, Staff Attorney, Securities and 
Exchange Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 942-0169

RIN: 3235-AG00
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5051.  RECORDKEEPING AND REPORTING REQUIREMENTS FOR TRADING 
SYSTEMS OPERATED BY BROKERS AND DEALERS

Legal Authority:  15 USC 77c; 15 USC 77d; 15 USC 77g; 15 USC 77j; 15 
USC 77s; 15 USC 77eee; 15 USC 77ggg; 15 USC 77sss; 15 USC 77ttt; 15 USC 
78c; 15 USC 78d; 15 USC 78i; 15 USC 78j; 15 USC 78m

CFR Citation:  17 CFR 240.17a-23

Legal Deadline: None

Abstract: Proposed rule 17a-23 would establish recordkeeping and 
reporting requirements for brokers and dealers that operate automated 
trading systems. Registered broker-dealer sponsors of these systems 
would be required to maintain participant, volume and transaction 
records, and to report periodically to the Commission.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            02/18/94                     59 FR 8368
NPRM Comment Period End         05/18/94

Small Entities Affected: Undetermined

Government Levels Affected: None

Agency Contact: Gordon K. Fuller, Special Counsel, Securities and 
Exchange Commission, 450 Fifth Street NW., Washington, DC 20459, 202 
942-0792

RIN: 3235-AG03
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5052.  DIVIDEND DECLARATIONS AND PAYMENTS ON CERTAIN INDEBTEDNESS

Legal Authority:  15 USC 79(t); 15 USC 79(n)

CFR Citation:  17 CFR 250.46

Legal Deadline: None

Abstract: This amendment will govern the amount of dividends a 
subsidiary of a registered holding company can declare or pay.

Timetable: Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Karen McMillan, Staff Attorney, Securities and Exchange 
Commission, Office of Public Utility Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 504-3387

RIN: 3235-AG04
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5053.  ANNUAL REPORT OF MUTUAL AND SUBSIDIARY SERVICE COMPANIES

Legal Authority:  15 USC 79(m); 15 USC 79(n); 15 USC 79(o); 15 USC 
79(t)(a)

CFR Citation:  17 CFR 259.313

Legal Deadline: None

Abstract: The amendment to the annual report of mutual and subsidiary 
service companies will simplify the accounting system maintained by the 
service companies and would more clearly disclose financial accounting 
and operational information required by the Commission.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            08/00/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Brian Spires, Staff Attorney, Securities and Exchange 
Commission, Office of Public Utility Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 272-7688

RIN: 3235-AG05
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5054.  SUITABILITY OF INVESTMENT ADVICE PROVIDED BY INVESTMENT 
ADVISERS; CUSTODIAL ACCOUNT STATEMENTS TO BE SENT TO CERTAIN ADVISORY 
CLIENTS

Legal Authority:  15 USC 80b-6; 15 USC 80b-4

CFR Citation:  17 CFR 275.204-2

Legal Deadline: None

Abstract: The Division of Investment Management is considering whether 
to recommend that the Commission make explicit the duty that investment 
advisers make only suitable recommendations to their clients. The 
Division is also considering whether to recommend that the Commission 
require certain investment advisers that exercise investment discretion 
with respect to client accounts to have a reasonable belief that the 
custodians of these accounts are sending quarterly account statements 
to the clients.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            04/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: W. Thomas Conner, Staff Attorney, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2107

RIN: 3235-AG06
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5055.  DISCLOSURE OF INFORMATION REQUIRED BY SECTION 17(B) OF THE 
SECURITIES ACT OF 1933

Legal Authority:  15 USC 77; 15 USC 77b; 15 USC 77h; 15 USC 77j; 15 USC 
77s; 15 USC 77sss; 15 USC 78c; 15 USC 78l to 78o; 15 USC 78w; 15 USC 
79t; 15 USC 80a-37

CFR Citation:  17 CFR 230.178

Legal Deadline: None

Abstract: The Division of Corporation Finance is considering 
recommending that the Commission propose rules intended to ensure that 
investors who read news articles, research reports, and other 
investment advice regarding specific securities will receive adequate 
disclosure when issuers, underwriters and dealers have paid for the 
published investment advice. The rule would require that disclosure 
required by Section 17(b) be placed in a prominent position on the 
first page of a report or article that describes a security for 
consideration received or to be received from an issuer, underwriter, 
or dealer. The rule is intended to ensure that investors are informed 
in the article that it has been paid for by an issuer, underwriter or 
dealer which may have an interest in seeing the information about the 
security published.

Timetable: Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Joseph P. Babits, Attorney-Adviser, Division of 
Corporation Finance, Securities and Exchange Commission, Office of 
Disclosure Policy, 450 5th St. NW., Washington, DC 20549, 202 272-2589

RIN: 3235-AG08
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5056.  LIMITED PARTNERSHIP ROLL-UP TRANSACTIONS

Legal Authority:  15 USC 78n(h); 15 USC 78w(a); 15 USC 77s

CFR Citation:  17 CFR 229.901; 17 CFR 229.911; 17 CFR 239.25; 17 CFR 
240

Legal Deadline: None

Abstract: The Division of Corporation Finance is considering 
recommending that the Commission propose rules in connection with 
limited partnership roll-up transactions pursuant to the Limited 
Partnership Roll-up Act of 1993.

Timetable: Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Robert Toomey, Special Counsel, Office of Disclosure 
Policy, Division of Corporation Finance, Securities and Exchange 
Commission, 450 5th Street NW., Washington, DC 20549, 202 272-2589

RIN: 3235-AG09
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5057.  EXEMPTIVE RELIEF AND SIMPLIFICATION OF FILING REQUIREMENTS 
FOR DEBT SECURITIES TO BE LISTED ON A NATIONAL SECURITIES EXCHANGE

Legal Authority:  15 USC 77d; 15 USC 77g; 15 USC 77j; 15 USC 77s; 15 
USC 77eee; 15 USC 77ggg; 15 USC 77nnn; 15 USC 77sss; 15 USC 77ttt; 15 
USC 78c; 15 USC 78d; 15 USC 78i; 15 USC 78j; 15 USC 78l

CFR Citation:  17 CFR 249.3A12-11 New; 17 CFR 240.3A12-12 New; 17 CFR 
240.12b-7; 17 CFR 240.12d1-2; 17 CFR 249.208a

Legal Deadline: None

Abstract: The Division of Corporation Finance is considering 
recommending that the Commission propose to provide exemptive relief 
with respect to the listing of debt securities on a national exchange. 
such relief is being proposed in order to address a regulatory 
disparity between companies who register their debt under section 12(b) 
of the Act and companies who permit their debt to be traded in the 
over-the-counter market. The proposed rules and amendments to existing 
rules would exempt debt securities listed on a national exchange from 
the proxy rules and restrictions on borrowing provided by Section 8(a) 
of the Securities Exchange Act. Additionally the proposed amendments 
would provide for the automatic effectiveness of the Form 8-A under 
certain conditions for debt listed on a national exchange.

Timetable: Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: Undetermined

Agency Contact: Joseph P. Babits, Attorney-Adviser, Division of 
Corporation Finance, Securities and Exchange Commission, Office of 
Disclosure Policy, Stop 3-12, 450 Fifth Street NW., Washington, DC 
20549, 202 272-2589

RIN: 3235-AG11
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5058.  NEW RULE 15C2-13 REQUIRING DISCLOSURE OF MARK-UPS

Legal Authority:  15 USC 77c; 15 USC 77d; 15 USC 77g; 15 USC 77j; 15 
USC 77s; 15 USC 77eee; 15 USC 77ggg; 15 USC 77nnn; 15 USC 77sss; 15 USC 
77ttt; 15 USC 78c; 15 USC 78d; 15 USC 78i; 15 USC 78j; 15 USC 78l

CFR Citation:  17 CFR 240.15c2-13

Legal Deadline: None

Abstract: Rule 15c2-13 under the Securities Exchange Act of 1934 would 
require brokers, dealers, and municipal securities dealers to: (i) 
disclose their mark-ups and mark-downs in connection with riskless 
principal transactions in municipal securities; and (ii) disclose that 
a particular municipal security is not rated by a nationally recognized 
statistical rating organization, if such is the case.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/17/94                    59 FR 12767
NPRM Comment Period End         06/15/94

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: C. Dirk Peterson, Attorney, Securities and Exchange 
Commission, 450 Fifth Street NW., Washington, DC 20549, 202 942-0073

RIN: 3235-AG12
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage
  
  
_______________________________________________________________________
 
5059.  MUNICIPAL SECURITIES DISCLOSURE

Legal Authority:  15 USC 77c; 15 USC 77d; 15 USC 77g; 15 USC 77j; 15 
USC 77s; 15 USC 77eee; 15 USC 77ggg; 15 USC 77nnn; 15 USC 77sss; 15 USC 
77ttt; 15 USC 78c; 15 USC 78d; 15 USC 78i; 15 USC 78j; 15 USC 78l

CFR Citation:  17 CFR 240.15c2-12

Legal Deadline: None

Abstract: Proposed amendments to rule 15c2-12 will deter fraud and 
manipulation in the municipal securities market by prohibiting brokers, 
dealers, and municipal securities dealers from underwriting municipal 
securities unless the broker, dealer, or municipal securities dealer 
has reasonably determined that the issuer has undertaken to provide 
continuing disclosure to a repository. Furthermore, the rule would 
prohibit brokers, dealers, and municipal securities dealers from 
recommending the purchase or sale of a municipal security unless it has 
reviewed the information the issuer has undertaken to provide.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/17/94                    59 FR 12759
NPRM Comment Period End         07/05/94

Small Entities Affected: Businesses, Governmental Jurisdictions

Government Levels Affected: State, Local, Federal

Agency Contact: Janet W. Russell-Hunter, Attorney, Securities and 
Exchange Commission, 450 Fifth Street NW., Washington, DC 20549, 202 
942-0073

RIN: 3235-AG13
_______________________________________________________________________
  

_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5060. REVISION OF INVESTMENT COMPANY PROXY RULES

Legal Authority:  15 USC 78n; 15 USC 78w; 15 USC 80a-20; 15 USC 80a-37

CFR Citation:  17 CFR 240.14a-1 to 240.14a-102; 17 CFR 240.14b-1; 17 
CFR 240.14c-1 to 240.14c-101; 17 CFR 270.20a-1 to 270.20a-3

Legal Deadline: None

Abstract: Most solicitations of a proxy, authorization or consent with 
respect to registered investment company securities are subject to 
rules adopted pursuant to the Securities Exchange Act of 1934 and the 
Investment Company Act of 1940 concerning solicitations of proxies. To 
the extent that a proxy statement contains repetitive materials or is 
overly complicated and difficult to read, it may not provide meaningful 
information to security holders in order that they may make informed 
voting decisions. The Commission has proposed amendments to the proxy 
rules to update the rules to improve the readability of proxy 
statements and eliminate unnecessary disclosure costs.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            12/21/93                    58 FR 67729
NPRM Comment Period End         03/18/94
Final Action                    07/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Kathleen Clarke, Special Counsel, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2107

RIN: 3235-AA69
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5061. REGULATION 13D-G

Legal Authority:  15 USC 78m(d); 15 USC 78m(g); 15 USC 78m(a)

CFR Citation:  17 CFR 240.13d-1; 17 CFR 240.13d-2; 17 CFR 240.13d-7; 17 
CFR 240.13d-101; 17 CFR 240.13d-102

Legal Deadline: None

Abstract: The Commission has proposed revisions to Regulation 13D to 
change the disclosure to investors of filings on Schedule 13D, while at 
the same time reducing the reporting obligations of noninstitutional 
investors that have a passive investment purpose.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/14/89                    54 FR 10552
NPRM Comment Period End         05/15/89


Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Gregg Corso, Chief, Office of Tender Offers, Securities 
and Exchange Commission, Division of Corporation Finance, 450 5th 
Street NW., Washington, DC 20549, 202 272-3097

RIN: 3235-AD09
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5062. RULE 801 AND REGISTRATION FORMS FOR RIGHTS OFFERINGS

Legal Authority:  15 USC 77c(b); 15 USC 77s

CFR Citation:  17 CFR 230.801(New)

Legal Deadline: None

Abstract: The Commission has proposed a small issue exemptive rule that 
would provide an exemption from the registration requirements of the 
Securities Act of 1933 for certain rights offerings and a Securities 
Act registration form for certain non-exempt rights offerings. The 
Commission also proposed amendments to Form F-3 to permit certain 
foreign private issuers reporting under the Securities Exchange Act of 
1934 to register certain offerings, including rights offerings, without 
meeting the reporting history and public float eligibility requirements 
of that form.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            06/14/91                    56 FR 27564
NPRM Comment Period End         09/09/91


Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Paul M. Dudek, Chief, International Corporate Finance, 
Securities and Exchange Commission, Division of Corporation Finance, 
450 5th Street NW., Washington, DC 20549, 202 272-3246

RIN: 3235-AD44
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5063. AMENDMENT TO RULE 31A-2 UNDER THE INVESTMENT COMPANY ACT OF 1940

Legal Authority:  15 USC 80a-31(a); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.31a-2

Legal Deadline: None

Abstract: Rule 31a-2 specifies where and how long books and records, 
required to be maintained by U.S.-registered investment companies and 
other persons, must be preserved. The Commission has proposed for 
public comment an amendment to the rule that is intended to remove 
uncertainty regarding the location and language aspects of the 
recordkeeping requirements for U.S.-registered investment companies, 
particularly those investment companies investing in foreign 
securities.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            10/09/90                    55 FR 41100
NPRM Comment Period End         12/10/90


Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Rochelle Kauffman Plesset, Senior Counsel, Securities 
and Exchange Commission, Division of Investment Management, 450 5th 
Street NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AD66
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5064. FORMS FOR FURNISHING INFORMATION PURSUANT TO RULE 12G3-2(B) UNDER 
THE SECURITIES EXCHANGE ACT OF 1934

Legal Authority:  15 USC 78l; 15 USC 78w

CFR Citation:  17 CFR 240.12g3-2(b); 17 CFR 249

Legal Deadline: None

Abstract: The Commission has proposed forms for use by persons 
furnishing information under Rule 12g3-2(b).

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            06/06/91                    56 FR 27612
NPRM Comment Period End         09/09/91


Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Paul M. Dudek, Chief, International Corporate Finance, 
Securities and Exchange Commission, Division of Corporation Finance, 
450 5th Street NW., Washington, DC 20549, 202 272-3246

RIN: 3235-AD72
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5065. SUMMARY PROSPECTUSES

Legal Authority:  15 USC 77f; 15 USC 77g; 15 USC 77j; 15 USC 77s

CFR Citation:  17 CFR 230; 17 CFR 239

Legal Deadline: None

Abstract: The Commission has proposed amendments to Rule 431 under the 
Securities Act of 1933 which would revise the issuer criteria and pre-
filing requirements for use of summary prospectuses. Further, the 
information requirements applicable to summary prospectuses are 
proposed to be amended to include a summary of management's discussion 
and analysis of the issuer's financial condition and results of 
operations and disclosure regarding the risks associated with 
investment in the securities being offered.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            06/27/90                    55 FR 26212
NPRM Comment Period End         09/15/90


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Martin Dunn, Attorney Adviser, Office of Chief Counsel, 
Securities and Exchange Commission, Division of Corporation Finance, 
450 5th Street NW., Washington, DC 20549, 202 272-2573

RIN: 3235-AD90
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5066. INTERNATIONAL TENDER AND EXCHANGE OFFERS

Legal Authority:  15 USC 77b; 15 USC 77f; 15 USC 77g; 15 USC 77h; 15 
USC 77j; 15 USC 77s; 15 USC 77sss; 15 USC 78c; 15 USC 78l; 15 USC 78m; 
15 USC 78n; 15 USC 78o; 15 USC 78w; 15 USC 79t; 15 USC 80a-37

CFR Citation:  17 CFR 200; 17 CFR 230; 17 CFR 239; 17 CFR 240; 17 CFR 
260

Legal Deadline: None

Abstract: The Commission issued for comment rule proposals to 
facilitate the extension of international tender offers to U.S. 
holders. The proposed rules would provide exemptions from the tender 
offer rules, securities registration and reporting requirements, and 
trust indenture provisions, as well as allow the registration of 
foreign exchange offers on the basis of foreign disclosure.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

ANPRM                           06/12/90                    55 FR 23751
ANPRM Comment Period End        09/21/90
NPRM                            06/14/91                    56 FR 27582
NPRM Comment Period End         09/09/91


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: Undetermined

Agency Contact: Gregg Corso, Chief, Office of Tender Offers, Securities 
and Exchange Commission, Division of Corporation Finance, 450 5th 
Street NW., Washington, DC 20549, 202 272-3097

RIN: 3235-AD97
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5067. EXEMPTIONS FOR CERTAIN REGISTERED OPEN-END MANAGEMENT INVESTMENT 
COMPANIES TO IMPOSE DEFERRED SALES LOADS

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-22; 15 USC 80a-37(a); 15 
USC 80a-39; 15 USC 77a et seq

CFR Citation:  17 CFR 270.6c-10; 17 CFR 239.15A

Legal Deadline: None

Abstract: The Commission proposed for public comment rule 6c-10 under 
the Investment Company Act of 1940 and related amendments to the Form 
N-1A registration statement. Rule 6c-10 would provide an exemption from 
the Investment Company Act to registered open-end management investment 
companies (other than registered insurance company separate accounts) 
and certain related persons to the extent necessary to permit their use 
of sales loads payable on a deferred basis. The amendments to Form N-1A 
would require disclosure of such deferred sales loads in the fee table 
located near the front of the prospectus of a registered open-end 
management investment company.
The Division of Investment Management earlier had withdrawn the 
proposal from the Unified Agenda to consider it in the context of a 
comprehensive study of the Investment Company Act completed in 1992. 
The Division now is considering the proposal again as a rulemaking 
proposal.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            11/02/88                    53 FR 45275
NPRM Comment Period End         01/09/89
Final Action                    05/00/94

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Nadya B. Roytblat, Attorney, Securities and Exchange 
Commission, Division of Investment Management, 450 5th Street NW., 
Washington, DC 20549, 202 272-7779

RIN: 3235-AE97
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5068. EXEMPTION FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES ISSUING 
MULTIPLE CLASSES OF SHARES; DISCLOSURE BY MULTIPLE CLASS AND MASTER-
FEEDER FUNDS

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-8(b); 15 USC 80a-12(b); 
15 USC 80a-18(i); 15 USC 80a-24(a); 15 USC 80a-29; 15 USC 80a-37(a); 15 
USC 80a-37(b); 15 USC 77g(a); 15 USC 77j; 15 USC 77s(a)

CFR Citation:  17 CFR 270.18f-3 (New); 17 CFR 270.12b-1; 17 CFR 
270.34b-1; 17 CFR 230.134; 17 CFR 230.482; 17 CFR 239.15A; 17 CFR 
275.11A; 17 CFR 239.23; 17 CFR 274.101

Legal Deadline: None

Abstract: The Commission has proposed for public comment new rule 18f-3 
and an amendment to rule 12b-1 under the Investment Company Act of 
1940. Proposed rule 18f-3 would allow open end management investment 
companies (``mutual funds'') to issue multiple classes of voting stock 
representing interests in the same portfolio, subject to conditions 
intended to prevent investor confusion, assure fair expense allocations 
and voting rights, and prevent conflicts of interest among classes. The 
rule would eliminate the need for funds issuing multiple classes to 
apply for exemptions. The proposed amendment to rule 12b-1 would 
clarify how the requirements for approval of certain distribution 
arrangements would apply to funds with multiple classes of shares. The 
Commission also has proposed for public comment amendments to rules 
under the Investment Company Act and the Securities Act of 1933, 
amendments to the form for registration statements of open-end 
investment companies, and amendments to related forms. These amendments 
would establish disclosure requirements for prospectuses, 
advertisements, and sales literature of multiple class funds, as well 
as ``master-feeder'' funds, which (cont)

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            12/15/93                    58 FR 68074
NPRM Comment Period End         02/22/94
Final Action                    06/00/94

Small Entities Affected: Businesses

Government Levels Affected: None

Additional Information: ABSTRACT CONT: amendments are intended to 
address concerns about the complexity of these funds' sales and service 
charges.

Agency Contact: Robert G. Bagnall, Assistant Chief of Office, 
Securities and Exchange Commission, Division of Investment Management, 
450 5th Street NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AF00
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5069. REVISION OF REGISTERED PUBLIC UTILITY COMPANY FINANCING RULES

Legal Authority:  15 USC 79c; 15 USC 79f(b); 15 USC 79i(c)(3); 15 USC 
79t; 15 USC 79l

CFR Citation:  17 CFR 250.45; 17 CFR 250.52

Legal Deadline: None

Abstract: The proposed amendments are intended to ease the regulatory 
and paperwork burden associated with Commission approval for routine 
financings by registered holding companies and their subsidiary 
companies.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            07/07/92                    57 FR 31156
NPRM PUHCA of 1935              07/07/92                    57 FR 31156
NPRM Comment Period End         10/13/92


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Brian Spires, Staff Attorney, Office of Public Utility 
Regulation, Securities and Exchange Commission, Division of Investment 
Management, 450 5th Street NW., Washington, DC 20549, 202 272-7688

RIN: 3235-AF49
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5070. EXPEDITED PROCEDURE FOR EXEMPTIVE ORDERS AND EXPANDED DELEGATED 
AUTHORITY

Legal Authority:  15 USC 6(c); 15 USC 37(a); 15 USC 78d-1

CFR Citation:  17 CFR 200.30-5; 17 CFR 270.0-5

Legal Deadline: None

Abstract: The Commission proposed for public comment amendments to rule 
0-5 under the Investment Company Act of 1940 and rule 30-5, Delegation 
of Authority to the Director of the Division of Investment Management, 
under the Securities Exchange Act of 1934. The amendments to rule 0-5 
would establish an expedited review procedure for certain exemptive 
applications and would allow the Commission to declare certain inactive 
applications to be abandoned. The amendments to rule 30-5 would expand 
the delegated authority of the Director of the Division of Investment 
Management to approve exemptive applications.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/31/93                    58 FR 16799
NPRM Comment Period End         06/29/93
Final Action                    05/00/94

Small Entities Affected: Businesses

Government Levels Affected: Federal

Additional Information: A correction to the proposing release was 
published April 9, 1993 (58 FR 18352).

Agency Contact: Nadya B. Roytblat, Attorney, Securities and Exchange 
Commission, Division of Investment Management, 450 5th Street NW., 
Washington, DC 20549, 202 272-7779

RIN: 3235-AF56
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5071. OFF-THE-PAGE PROSPECTUSES FOR OPEN-END MANAGEMENT INVESTMENT 
COMPANIES

Legal Authority:  15 USC 77j(b); 15 USC 77s(a)

CFR Citation:  17 CFR 230.482

Legal Deadline: None

Abstract: The Commission has proposed for public comment amendments to 
rule 482 under the Securities Act of 1933, containing requirements for 
the use of an advertisement that would allow investors the option of 
purchasing shares directly from an open-end investment company by 
completing an application form included with the advertisement. The 
advertisement would be a prospectus for purposes of liability under 
section 12(2) of the Securities Act, and would be required to contain 
core information about the investment company.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/19/93                    58 FR 16141
NPRM Comment Period End         06/23/93
Final Action                    05/00/94

Small Entities Affected: Businesses

Government Levels Affected: Federal

Agency Contact: Rochelle Kauffman Plesset, Senior Counsel, Securities 
and Exchange Commission, Division of Investment Management, 450 5th 
Street NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AF58
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5072. PROPOSALS TO UPDATE RULES AND FORMS UNDER THE PUBLIC UTILITY 
HOLDING COMPANY ACT

Legal Authority:  15 USC 79b(a)(3); 15 USC 79b(a)(4); 15 USC 79t; 15 
USC 79n; 15 USC 79o; 15 USC 79c(d); 15 USC 79e(c); 15 USC 79i(c)(3); 15 
USC 79l(c); 15 USC 79f(b); 15 USC 79l(d); 15 USC 79l(f); 15 USC 
79aa(a); 15 USC 79l(e); 15 USC 79l(i); ...

CFR Citation:  17 CFR 250.7; 17 CFR 250.26; 17 CFR 250.27; 17 CFR 
250.29; 17 CFR 250.40(a)(5); 17 CFR 250.14(c); 17 CFR 250.42(b); 17 CFR 
250.43(b); 17 CFR 250.44(b); 17 CFR 250.49; 17 CFR 250.62; 17 CFR 
250.63; 17 CFR 250.65(b)(2); 17 CFR 250.71(b); 17 CFR 250.83(d); ...

Legal Deadline: None

Abstract: The proposals are intended generally to modernize the rules 
under the Act and, in particular, to reduce undue regulatory burdens on 
companies in a registered holding company system. The amendments would 
also broaden the exemption from regulation for companies that are 
primarily engaged in nonutility businesses.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            11/16/92                    57 FR 54025
NPRM Comment Period End         01/15/93                    57 FR 54025
Final Action                    04/00/94

Small Entities Affected: Businesses

Government Levels Affected: None

Additional Information: CFR CITATION CONT: 17 CFR 259.55; 17 CFR 
259.212a; 17 CFR 259.212b; 17 CFR 259.313
LEGAL AUTHORITY CONT: 15 USC 79m(b)

Agency Contact: Brian Spires, Staff Attorney, Office of Public Utility 
Regulation, Securities and Exchange Commission, Division of Investment 
Management, 450 5th Street NW., Washington, DC 20549, 202 272-7688

RIN: 3235-AF68
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5073. CERTAIN RESEARCH AND DEVELOPMENT COMPANIES

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.3a-8

Legal Deadline: None

Abstract: On July 9, 1993, the Commission proposed for public comment 
rule 3a-8 under the Investment Company Act of 1940, which would provide 
a safe harbor from investment company status for a company engaged in 
research and development, under appropriate conditions. The rule would 
apply to certain companies, such as biotechnology companies, that are 
not primarily engaged in the investment company business.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            07/15/93                    58 FR 38095
NPRM Comment Period End         10/13/93
Final Action                    09/00/94

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Diane C. Blizzard, Assistant Director, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AF69
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5074. EXEMPTION FOR SUBSIDIARY COMPANIES OF REGISTERED HOLDING COMPANIES 
FORMED TO HOLD INTERESTS IN FOREIGN COMPANIES

Legal Authority:  15 USC 79(t)

CFR Citation:  17 CFR 250.56

Legal Deadline: None

Abstract: The proposed rule clarifies that a subsidiary of a registered 
holding company which is engaged exclusively in the business of owning 
an interest in one or more foreign utility companies will be exempt 
from the Public Utility Holding Company Act of 1935. Registered holding 
companies may acquire these entities without the approval of the 
Commission.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/08/93                    58 FR 13719
NPRM Comment Period End         04/14/93


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Karen McMillan, Staff Attorney, Office of Public 
Utility Regulation, Securities and Exchange Commission, Division of 
Investment Management, 450 5th Street NW., Washington, DC 20549, 202 
504-3387

RIN: 3235-AF79
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5075. SIMPLIFICATION OF REGISTRATION PROCEDURES FOR SECURITIES OFFERINGS 
BY FOREIGN PRIVATE ISSUERS

Legal Authority:  15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77j; 15 
USC 77s

CFR Citation:  17 CFR 230; 17 CFR 239

Legal Deadline: None

Abstract: The Commission has proposed to streamline registration and 
reporting requirements for foreign companies by: (1) expanding the 
universe of foreign issuers eligible to use short-form and full shelf 
registration under the Securities Act of 1933; (2) streamlining 
financial statement reconciliation and financial schedules 
requirements; (3) providing a new safe harbor for company announcements 
regarding exempt offerings or unregistered offshore offerings; and (4) 
expanding safe harbor protection for analyst reports with respect to 
sizeable foreign companies publicly traded offshore.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            11/15/93                    58 FR 60307
NPRM Comment Period End         01/31/94


Next Action Undetermined

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Paul M. Dudek, Chief, Office of International Corporate 
Finance, Securities and Exchange Commission, Division of Corporation 
Finance, 450 5th Street NW., Washington, DC 20549, 202 272-3246

RIN: 3235-AF83
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5076. CONTINUOUS OR DELAYED OFFERINGS BY CERTAIN CLOSED-END MANAGEMENT 
INVESTMENT COMPANIES; AUTOMATIC EFFECTIVENESS OF CERTAIN REGISTRATION 
STATEMENTS

Legal Authority:  15 USC 77g; 15 USC 77h; 15 USC 77s(a); 15 USC 77f; 15 
USC 77j; 15 USC 80a-8(b); 15 USC 80a-24(a); 15 USC 80a-37(a)

CFR Citation:  17 CFR 230.415; 17 CFR 230.486

Legal Deadline: None

Abstract: The Commission proposed for public comment an amendment to 
rule 415 under the Securities Act and new rule 485a under the 
Securities Act. The amendment to rule 415 would permit closed-end 
management investment companies or business development companies that 
make periodic repurchases under Investment Company Act rule 23c-3 to 
offer securities on a continuous or delayed basis. New rule 485a would 
provide for the automatic effectiveness of post-effective amendments to 
registration statements, or new registration statements for the purpose 
of registering additional securities, filed by such investment 
companies. The Commission also proposed certain related changes to Form 
N-2, the registration form for closed-end investment companies. 
Proposed rule 485a has been reproposed to conform to proposed changes 
in rule 485 under the Securities Act, and has been redesignated rule 
486.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            04/07/93                    58 FR 19361
NPRM Comment Period End         06/14/93
NPRM Comment Period End         06/14/93
NPRM                            09/21/93                    58 FR 50291
Final Action                    04/00/94

Small Entities Affected: Businesses

Government Levels Affected: Federal

Agency Contact: Robert G. Bagnall, Assistant Chief of Office, 
Securities and Exchange Commission, Division of Investment Management, 
450 5th Street NW., Washington, DC 20549, 202 272-3042

RIN: 3235-AF86
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5077. SUBSIDIARIES AUTHORIZED TO PERFORM SERVICES OR CONSTRUCTION OR TO 
SELL GOODS

Legal Authority:  15 USC 79t

CFR Citation:  17 CFR 250.87

Legal Deadline: None

Abstract: The amendment to rule 87 will require Commission approval 
before a registered holding company or its subsidiaries may render 
services to an associate exempt wholesale generator or a foreign 
utility company. Additionally, registered holding associate companies 
and their subsidiaries may not accept services from exempt wholesale 
generators or foreign utility companies without Commission approval.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            09/23/93                    58 FR 51508
NPRM Comment Period End         11/30/93


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Karen McMillan, Staff Attorney, Securities and Exchange 
Commission, Division of Investment Management, 450 5th Street NW., 
Washington, DC 20549, 202 504-3387

RIN: 3235-AF87
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5078. RULES OF PRACTICE

Legal Authority:  15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77h-1; 15 
USC 77j; 15 USC 77s; 15 USC 77s; 15 USC 77u; 15 USC 78c(b); 15 USC 78d-
1; 15 USC 78d-2; 15 USC 78l; 15 USC 78m; 15 USC 78n; 15 USC 78o

CFR Citation:  17 CFR 201; 17 CFR 202; 17 CFR 203; 17 CFR 240

Legal Deadline: None

Abstract: The Commission has proposed comprehensive revisions to its 
Rules of Practice. This proposal stems from the work of the Task Force 
on Administrative Proceedings which examined the rules and procedures 
governing Commission administrative proceedings. Following passage of 
the Securities Enforcement Remedies and Penny Stock Reform Act, the 
Task Force expanded its work to include developing recommendations to 
implement the Commission's new powers under the Act. Among the major 
proposals in the proposed Rules of Practice are: new procedures for the 
conduct of temporary cease-and-desist order proceedings; new rules 
governing the collection and distribution of disgorgement required by 
Commission order; a streamlined discovery process; an expanded role for 
prehearing conferences; an expanded availability for summary 
disposition of matters of law; and production of documents, pursuant to 
subpoena, prior to the start of a hearing.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            11/22/93                    58 FR 61752
NPRM Comment Period End         01/06/94
NPRM Comment Period Extended to 
02/04/94                        01/11/94                     59 FR 1509
Final Action                    05/00/94

Small Entities Affected: Undetermined

Government Levels Affected: Undetermined

Additional Information: As to the temporary cease and desist and 
disgorgement order rules, a statutory deadline of 10/15/91 exists. As 
to the other rules, no deadline exists.

Agency Contact: Andrew Z. Glickman, Staff Attorney, Securities and 
Exchange Commission, Office of the General Counsel, 450 5th Street NW., 
Washington, DC 20549, 202 272-2428

RIN: 3235-AF91
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5079. EFFECTIVE DATE OF POST-EFFECTIVE AMENDMENTS FILED BY CERTAIN 
REGISTERED INVESTMENT COMPANIES, SEPARATE ACCOUNTS OF INSURANCE COMPANIES 
AND CERTAIN CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Legal Authority:  15 USC 77a et seq; 15 USC 80a-1 et seq; 15 USC 80b-11

CFR Citation:  17 CFR 200.30-5; 17 CFR 230.485; 17 CFR 230.486; 17 CFR 
230.487; 17 CFR 270.6e-3(T); 17 CFR 274.101; 17 CFR 239.15A; 17 CFR 
239.14; 17 CFR 239.16; 17 CFR 239.17a; 17 CFR 239.17b; 17 CFR 274.11A; 
17 CFR 274.11a-1; 17 CFR 274.aab; 17 CFR 274.11c

Legal Deadline: None

Abstract: The Commission has proposed amendments to Rule 485 and 
related rules and forms to clarify the rule and to expand the ability 
of open-end and certain closed-end management investment companies and 
separate accounts of insurance companies to file post-effective 
amendments that become effective upon filing.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            09/27/93                    58 FR 50291
NPRM Comment Period End         11/26/93
Final Action                    04/00/94

Small Entities Affected: Businesses

Government Levels Affected: Federal

Agency Contact: Janice M. Bishop, Staff Attorney, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 292 272-2107

RIN: 3235-AF96
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5080. REDEMPTIONS BY OPEN-END MANAGEMENT INVESTMENT COMPANIES AT PERIODIC 
INTERVALS OR WITH EXTENDED PAYMENT

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-22(c); 15 USC 80a-33(b); 
15 USC 80a-37(a)

CFR Citation:  17 CFR 270.0-1; 17 CFR 270.22C-1; 17 CFR 270.27C-2; 17 
CFR 274.11a; 17 CFR 274.11B; 17 CFR 274.11C

Legal Deadline: None

Abstract: The Commission proposed new rules and rule amendments under 
the Investment Company Act to provide that open-end investment 
companies and registered separate accounts may take up to 31 days to 
pay redemption proceeds and/or may redeem only at periodic intervals. 
The proposal would permit greater investment in less liquid securities 
than is permitted for open-end companies and would permit insurance 
companies to use investment vehicles that are more consistent with the 
long-term nature of variable insurance contracts.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            07/28/92                    57 FR 34701
NPRM Comment Period End         11/04/92


Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Robert G. Bagnall, Assistant Chief of Office, 
Securities and Exchange Commission, Division of Investment Management, 
450 5th Street NW., Washington, DC 20549, 202 272-3042

RIN: 3235-AF98
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5081.  DISCLOSURE BY INVESTMENT ADVISER REGARDING WRAP FEE 
PROGRAMS

Legal Authority:  15 USC 80b-3; 15 USC 80b-4; 15 USC 80b-11

CFR Citation:  17 CFR 275; 17 CFR 279

Legal Deadline: None

Abstract: The proposed rule and form amendments would specify the 
information that registered investment advisers that are sponsors of 
``wrap fee'' programs would be required to provide to prospective 
clients in those programs. The information would be required to be 
presented in a separate, narrative wrap fee brochure. The proposed 
amendments were previously included in the Unified Agenda under RIN 
3235-AD21.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            01/20/94                     59 FR 3033
NPRM Comment Period End         03/07/94
Final Action                    05/00/94

Small Entities Affected: Businesses

Government Levels Affected: State, Federal

Agency Contact: Eric C. Freed, Senior Attorney, Securities and Exchange 
Commission, Division of Investment Management, 450 5th Street NW., 
Washington, DC 20549, 202 272-2107

RIN: 3235-AG02
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage
  
  
_______________________________________________________________________
 
5082.  EDGAR IMPLEMENTATION

Legal Authority:  15 USC 77a et seq; 15 USC 78a et seq; 15 USC 77aaa et 
seq

CFR Citation:  17 CFR 228; 17 CFR 229; 17 CFR 230; 17 CFR 232; 17 CFR 
239; 17 CFR 240; 17 CFR 260; 17 CFR 260

Legal Deadline: None

Abstract: The Division of Corporation Finance will recommend that the 
Commission adopt final rules to fully implement the phase-in to 
electronic filing on the Electronic Data Gathering, Analysis and 
Retrieval (EDGAR) system for all filers whose documents are subject to 
review by the Division. Interim rules were adopted on February 23, 
1993, in Release No. 33-6977, initiating the operational phase of 
EDGAR.

Timetable: Next Action Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: James R. Budge, Special Counsel, Office of Disclosure 
Policy, Division of Corporation Finance, Securities and Exchange 
Commission, 450 5th Street NW., Washington, DC 20549, 202 272-2589

RIN: 3235-AG10
_______________________________________________________________________
  

_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5083. RULE 15C2-10

Legal Authority:  15 USC 78b; 15 USC 78c; 15 USC 78k-1; 15 USC 78o(c); 
15 USC 78w(a); 15 USC 78q; 15 USC 78q-1

CFR Citation:  17 CFR 240.15c2-10

Legal Deadline: None

Abstract: The Commission has proposed for comment a rule that would 
govern the operation of proprietary securities trading systems that are 
not operated as facilities of a national securities association or 
exchange. The Commission has formally withdrawn proposed rule 15c2-10 
and a proposed conforming amendment to rule 3a12-7 under the Act. 
Securities Exchange Act Release No. 33621 (February 14, 1994), 59 FR 
8379. The Commission published, for public comment, proposed rule 17a-
23 to establish recordkeeping and reporting requirements for broker-
dealers that act as sponsors of certain screen-based automated trading 
systems. Securities Exchange Act Release No. 33605 (February 18, 1994), 
59 FR 8368/ See RIN 3235-AG03.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            04/18/89                    54 FR 15429
NPRM Comment Period End         08/02/89
Withdrawn                       02/14/94                     59 FR 8379

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Gordon K. Fuller, Special Counsel, Securities and 
Exchange Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 272-2414

RIN: 3235-AC94
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5084. NET CAPITAL REQUIREMENTS FOR BROKERS OR DEALERS

Legal Authority:  15 USC 78o(c)(3); 15 USC 78w

CFR Citation:  17 CFR 240.15c3-1

Legal Deadline: None

Abstract: The Commission has amended the net capital rule, to among 
other things, make the rule applicable to certain specialists that are 
currently exempt from the rule. The Commission has further amended the 
net capital rule to exempt certain specialists from the application of 
the rule's haircut and undue concentration deductions with respect to 
their specialty securities.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            01/05/89                      54 FR 315
NPRM Comment Period End         04/03/89
Interim Final Rule              08/17/93                    58 FR 43555
Final Action                    08/17/93                    58 FR 43555
Final Action Effective          04/01/94

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Roger G. Coffin, Branch Chief, Securities and Exchange 
Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 942-3159

RIN: 3235-AD62
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5085. SPECIAL PROVISIONS AS TO AGE OF FINANCIAL STATEMENTS FOR FOREIGN 
PRIVATE ISSUERS UNDER REGULATION S-X

Legal Authority:  15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77j; 15 
USC 77s; 15 USC 77a(25); 15 USC 77a(26); 15 USC 781; 15 USC 78n; 15 USC 
78o(d); 15 USC 78w(a); 15 USC 79e(b); 15 USC 79n; 15 USC 79k(a); 15 USC 
80a-8

CFR Citation:  17 CFR 210.3-19

Legal Deadline: None

Abstract: The Commission has adopted revisions to Rule 3-19 of 
Regulation S-X which would accommodate offerings of securities by 
foreign issuers that customarily prepare financial information only on 
a semi-annual basis.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            06/14/91                    56 FR 27562
NPRM Comment Period End         07/15/91
Final Action                    11/15/93                    58 FR 60304
Final Action Effective          11/15/93

Small Entities Affected: None

Government Levels Affected: None

Additional Information: 15 USC 80a-29

Agency Contact: Robert A. Bayless, Chief Accountant, Securities and 
Exchange Commission, Division of Corporation Finance, 450 5th Street 
NW., Washington, DC 20549, 202 272-2553

RIN: 3235-AD96
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5086. DESIGNATION OF ORDERS AS ``SOLICITED'' AND ``UNSOLICITED''

Legal Authority:  15 USC 78q

CFR Citation:  17 CFR 240.17a-3; 17 CFR 240.17a-4

Legal Deadline: None

Abstract: The Division of Market Regulation considered recommending 
that the Commission propose amendments to Rules 17a-3 and 17a-4 that 
would require records relating to customer brokerage orders and dealer 
transactions to be marked to reflect whether they are ``solicited'' or 
``unsolicited.'' Such amendments are no longer being actively developed 
as a distinct rulemaking.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

Withdrawn                       02/11/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Robert L. D. Colby, Deputy Director, Securities and 
Exchange Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 942-0094

RIN: 3235-AE18
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5087. MULTIJURISDICTIONAL DISCLOSURE WITH THE UNITED KINGDOM

Legal Authority:  15 USC 77e; 15 USC 77f; 15 USC 77g; 15 USC 77j; 15 
USC 77s(a); 15 USC 77ddd; 15 USC 77eee; 15 USC 77fff; 15 USC 78c(b); 15 
USC 78j; 15 USC 78l; 15 USC 78m; 15 USC 78w; 15 USC 78x

CFR Citation:  17 CFR 210; 17 CFR 230; 17 CFR 240; 17 CFR 249; 17 CFR 
260

Legal Deadline: None

Abstract: The Division of Corporation Finance is no longer considering 
recommending to the Commission a proposal for a multijurisdictional 
disclosure system with the United Kingdom similar to that adopted for 
Canada.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

Withdrawn                       02/11/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Paul M. Dudek, Chief, International Corporate Finance, 
Securities and Exchange Commission, Division of Corporation Finance, 
450 5th Street NW., Washington, DC 20549, 202 272-3246

RIN: 3235-AE23
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5088. AMENDMENTS TO RULE 12D3-1 UNDER THE INVESTMENT COMPANY ACT OF 1940

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.12d3-1

Legal Deadline: None

Abstract: On September 16, 1993, the Commission adopted amendments to 
rule 12d3-1 under the Investment Company Act of 1940 that eliminate the 
qualitative conditions previously imposed by the rule on acquisitions 
by registered investment companies of the securities of securities-
related businesses. The amendments simplify the conditions for 
qualifying for exemptive relief under rule 12d3-1 and permit registered 
investment companies to pursue a broader range of investment 
objectives.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM - Proposed Amendments to 
Rule 12d3-1                     08/11/89                    54 FR 33027
NPRM                            01/08/93                     58 FR 3243
NPRM Comment Period End         03/09/93
Final Action                    09/16/93                    58 FR 49425
Final Action Effective          10/25/93

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Diane C. Blizzard, Assistant Director, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AE47
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5089. INVESTMENT COMPANY GENERAL PARTNERS NOT DEEMED INTERESTED PERSONS; 
INVESTMENT COMPANY LIMITED PARTNERS NOT DEEMED AFFILIATED PERSONS

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.2a19-2; 17 CFR 270.2a3-1

Legal Deadline: None

Abstract: On August 25, 1993, The Commission adopted rules providing, 
under certain conditions, comparable treatment for investment companies 
organized as limited partnerships as for investment companies organized 
as corporations. Rule 2a19-2 exempts certain general partners of an 
investment company organized as a limited partnership from being 
considered ``interested persons'' of the investment company, its 
investment adviser, or its principal underwriter, solely on the basis 
of their status as partners or co-partners. Rule 2a3-1 exempts certain 
limited partners of an investment company organized as a limited 
partnership from being considered ``affiliated persons'' of the 
investment company, other partners of the investment company, its 
investment adviser, or its principal underwriter, solely on the basis 
of their status as partners or co-partners. These rules eliminate the 
need for certain limited partnership investment companies to file 
(cont)

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            07/28/92                    57 FR 34726
NPRM Comment Period End         10/06/92
Final Action                    08/25/93                    58 FR 45834
Final Action Effective          09/30/93

Small Entities Affected: Businesses

Government Levels Affected: None

Additional Information: ABSTRACT CONT: individual exemptive 
applications, and make it easier for venture capital funds and other 
pooled investment vehicles to function as limited partnership 
investment companies under the Investment Company Act.

Agency Contact: Diane C. Blizzard, Assistant Director, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AF01
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5090. REVISION OF CERTAIN ANNUAL REVIEW REQUIREMENTS OF INVESTMENT 
COMPANY BOARDS OF DIRECTORS

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-10(f); 15 USC 80a-17(e); 
15 USC 80a-17(f); 15 USC 80a-22(c); 15 USC 80a-37(a)

CFR Citation:  17 CFR 270.10f-3; 17 CFR 270.17a-7; 17 CFR 270.17e-1; 17 
CFR 270.17f-4; 17 CFR 270.22c-1

Legal Deadline: None

Abstract: The Commission has adopted amendments to rules 10f-3, 17a-7, 
17e-1, 17f-4, and 22c-1 under the Investment Company Act of 1940. The 
amended rules no longer require directors to review certain procedures 
and arrangements annually, and require instead that directors make and 
approve changes only when necessary.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            12/30/92                     58 FR 2999
NPRM Comment Period End         03/08/93
Final Action                    09/17/93                    58 FR 49919
Final Action Effective          10/25/93

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Elizabeth R. Krentzman, Special Counsel, Securities and 
Exchange Commission, Division of Investment Management, 450 5th Street 
NW., Washington, DC 20549, 202 272-2048

RIN: 3235-AF60
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5091. ACCESS TO NONPUBLIC INFORMATION IN THE COMMISSION'S POSSESSION

Legal Authority:  15 USC 78w; 15 USC 78x

CFR Citation:  17 CFR 240.24c-1(New)

Legal Deadline: None

Abstract: The Commission adopted Rule 24c-1 under the Securities 
Exchange Act of 1934. Under a recent amendment of the Exchange Act, 
Section 24(c) permits the Commission, in its discretion and upon a 
showing that such information is needed, to provide information in its 
possession to such persons, domestic and foreign, as the Commission by 
rule deems appropriate if the person receiving such information 
provides such assurances of confidentiality as the Commission deems 
appropriate. The rule is intended to complement the Commission's 
current access program and to implement Section 24(c). It designates 
categories of domestic and foreign governmental authorities, self-
regulatory organizations and other specified persons participating in 
the Commission's current program as persons who may be provided access 
to nonpublic information in the Commission's possession.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            11/30/92                    57 FR 57710
NPRM Comment Period End         01/21/93                    57 FR 57710
Final Action                    11/08/93                    58 FR 52416
Final Action Effective          11/08/93                    58 FR 52416

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Walter B. Stahr, Assistant General Counsel, Securities 
and Exchange Commission, Office of the General Counsel, 450 5th Street 
NW., Washington, DC 20549, 202 272-2070

RIN: 3235-AF72
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5092. REPORTS TO BE MADE BY CERTAIN BROKERS AND DEALERS

Legal Authority:  15 USC 78q(a)(l)

CFR Citation:  17 CFR 240.17a-5

Legal Deadline: None

Abstract: The amendments shift to designated examining authorities the 
responsibility for extensions of time for the filing of FOCUS Reports 
and audited annual financial reports and for requests for approval of 
changes of the date as of which the audited financial report must be 
conducted.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

Final Action                    08/31/93                    58 FR 45838
Final Action Effective          10/01/93

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Elizabeth K. King, Staff Attorney, Securities and 
Exchange Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC 20549, 202 942-3159

RIN: 3235-AF73
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5093. AMENDMENTS TO THE MULTIJURISDICTIONAL DISCLOSURE SYSTEM

Legal Authority:  15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77j; 15 
USC 77s; 15 USC 78c; 15 USC 78dA; 15 USC 78l; 15 USC 78m; 15 USC 78n; 
15 USC 78o; 15 USC 78p; 15 USC 78w

CFR Citation:  17 CFR 229; 17 CFR 230; 27 CFR 239; 17 CFR 240

Legal Deadline: None

Abstract: The Commission has adopted amendments revising forms and 
rules relating to the multijurisdictional disclosure system, including 
revisions which (1) modify the eligibility requirements for use of 
certain forms and (2) recognize investment grade ratings by securities 
rating organizations recognized by Canadian securities regulations for 
purposes of the eligibility requirements under Forms F-9 and 40-F.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            04/28/93                    58 FR 26442
NPRM Comment Period End         06/02/93
Final Action on Certain 
Proposals                       06/28/93                    58 FR 35367
NPRM Comment Period End for 
Certain Proposals               07/02/93
Final Rule on Certain Proposals 11/23/93                    58 FR 62028
Final Action                    01/04/94                      59 FR 242
Final Action Effective          01/04/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Paul M. Dudek, Chief, Office of International Corporate 
Finance, Securities and Exchange Commission, Division of Corporation 
Finance, 450 5th Street NW., Washington, DC 20549, 202 272-3246

RIN: 3235-AF75
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5094. EFFECT OF EXEMPT WHOLESALE GENERATORS ON OTHER TRANSACTIONS

Legal Authority:  15 USC 79(t)

CFR Citation:  17 CFR 250.54

Legal Deadline: None

Abstract: The rule is intended to provide a safe harbor for the 
financing of transactions by a registered holding company other than 
the acquisition of an exempt wholesale generator when the registered 
holding company holds an interest in one or more exempt wholesale 
generators.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/08/93                    58 FR 13719
NPRM Comment Period End         04/14/93
Final Action                    09/23/93                    58 FR 51488
Final Action Effective          10/01/93                    58 FR 51488

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Karen McMillan, Staff Attorney, Office of Public 
Utility Regulation, Securities and Exchange Commission, Division of 
Investment Management, 450 5th Street NW., Washington, DC 20549, 202 
504-3387

RIN: 3235-AF77
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5095. NOTICES AND REPORTS CONCERNING ACQUISITION OF FOREIGN UTILITY 
COMPANIES

Legal Authority:  15 USC 79(n); 15 USC 79(t)

CFR Citation:  17 CFR 250.57

Legal Deadline: None

Abstract: The rule specifies the information to be provided to the 
Commission under P.L. 102-406, Sec. 715. The rule also provides for the 
reporting of acquisition of foreign utility companies by exempt holding 
companies.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/08/93                    58 FR 13719
NPRM Comment Period End         04/14/93
Final Action                    09/23/93                    58 FR 51488
Final Action Effective          10/31/93                    58 FR 51488

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Karen McMillan, Staff Attorney, Office of Public 
Utility Regulation, Securities and Exchange Commission, Division of 
Investment Management, 450 5th Street NW., Washington, DC 20549, 202 
504-3387

RIN: 3235-AF80
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5096. CERTAIN REGISTERED HOLDING COMPANY FINANCINGS IN CONNECTION WITH 
THE ACQUISITION OF ONE OR MORE EXEMPT WHOLESALE GENERATORS

Legal Authority:  15 USC 79(t); 15 USC 79(n)

CFR Citation:  17 CFR 250.53; 17 CFR 259.5s(Revision)

Legal Deadline:  Final, Statutory.
The rule was to be adopted within 6 months of enactment of the Energy 
Policy Act.

Abstract: The rule is intended to provide a safe harbor for the 
financing of acquisitions of exempt wholesale generators by registered 
holding companies. The amendment to Form U5S provides for the reporting 
of those acquisitions and of acquisitions of foreign utility companies 
by registered holding companies.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            03/08/93                    58 FR 13719
NPRM Comment Period End         04/14/93
Final Action                    09/23/93                    58 FR 51488
Final Action Effective          10/01/93                    58 FR 51488

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Karen McMillan, Staff Attorney, Office of Public 
Utility Regulation, Securities and Exchange Commission, Division of 
Investment Management, 450 5th Street NW., Washington, DC 20549, 202 
504-3387

RIN: 3235-AF82
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5097. SECURITIES TRANSACTIONS SETTLEMENT

Legal Authority:  15 USC 15(c)(6); 15 USC 78(o)

CFR Citation:  17 CFR 240.15c6-1

Legal Deadline: None

Abstract: The rule is designed to reduce the risk inherent in settling 
securities transactions by reducing the number of trades to be settled; 
enhancing the liquidity of the corporate securities markets by 
permitting sellers to move from these to other markets on a more timely 
basis; bringing the market for corporate securities into closer 
conformity with the government securities and derivatives markets; and 
increasing harmonization with international markets.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            02/23/93                    58 FR 11806
NPRM Comment Period End         06/30/93
Final Action                    10/06/93                    58 FR 52891

Small Entities Affected: Businesses

Government Levels Affected: Federal

Sectors Affected:  Multiple

Agency Contact: Jack Drogin, Branch Chief, Securities and Exchange 
Commission, Division of Market Regulation, 450 5th Street NW., 
Washington, DC. 20549, 202 272-7474

RIN: 3235-AF85
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5098. PENNY STOCK DEFINITION FOR PURPOSES OF THE BLANK CHECK RULE

Legal Authority:  15 USC 77g; 15 USC 77s; 15 USC 78c(a)(51)(A); 15 USC 
78w(a)

CFR Citation:  17 CFR 240.3a51-1

Legal Deadline: None

Abstract: The Commission has adopted a revision of the definition of 
penny stock for purposes of the Commission's blank check rule to make 
the exclusion for offerings priced at five dollars or more 
inapplicable.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            07/02/93                    58 FR 37445
NPRM Comment Period End         08/11/93
Final Action                    10/29/93                    58 FR 58099
Final Action Effective          10/29/93

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Richard Wulff, Chief, Office of Small Business Policy, 
Securities and Exchange Commission, Division of Corporation Finance, 
450 5th Street NW., Washington, DC 20549, 202 272-2644

RIN: 3235-AF90
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5099. EXECUTIVE COMPENSATION DISCLOSURE

Legal Authority:  15 USC 77e; 15 USC 77f; 15 USC 77j; 15 USC 77s; 15 
USC 78n; 15 USC 78w

CFR Citation:  17 CFR 229.402; 17 CFR 240.14a-101

Legal Deadline: None

Abstract: The Commission has adopted several refinements of, and 
technical changes to, the executive compensation disclosure 
requirements.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            08/12/93                    58 FR 42882
NPRM Comment Period End         10/15/93                    58 FR 42882
Final Action                    11/29/93                    58 FR 63010
Final Action Effective          11/29/93

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Gregg W. Corso, Chief, Office of Tender Offers, 
Securities and Exchange Commission, Division of Corporation Finance, 
450 5th Street NW., Washington, DC 20549, 202 272-3097

RIN: 3235-AF92
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5100. RULEMAKING REGARDING INDIVIDUALIZED INVESTMENT ADVISORY PROGRAM

Legal Authority:  15 USC 80a-6(c); 15 USC 80a-37

CFR Citation:  17 CFR 270.3a-4

Legal Deadline: None

Abstract: The Division of Investment Management is no longer 
considering whether to recommend that the Commission issue a release 
requesting public comment on reproposed Rule 3a-4 under the Investment 
Company Act of 1940.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

Withdrawn - The Division of 
Investment Mgmt. is no longer 
considering                     02/11/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Monica L. Parry, Senior Counsel, Office of Chief 
Counsel, Securities and Exchange Commission, Division of Investment 
Management, 450 5th Street NW., Washington, DC 20549, 202 272-2030

RIN: 3235-AF99
_______________________________________________________________________


_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions
  
  
_______________________________________________________________________
 
5101.  LIMITATION OF FILING REQUIREMENTS FOR PRELIMINARY PROXY 
MATERIALS UNDER CERTAIN CIRCUMSTANCES

Legal Authority:  15 USC 77e; 15 USC 77f; 15 USC 77j; 15 USC 77s; 15 
USC 78n; 15 USC 78w

CFR Citation:  17 CFR 240.14a-6; 17 CFR 240.14c-5

Legal Deadline: None

Abstract: In November 1993, the Commission proposed for comment 
amendments to the preliminary filing requirements of proxy and 
information statements. In December 1993, the Commission amended rule 
14a-6 and rule 14c-5 of the Securities Exchange Act of 1934 to 
eliminate the need to file a preliminary proxy or information statement 
where the matter subject to shareholder action is the approval of or on 
amendment to an employee benefit plan.

Timetable:
_________________________________________________________________________

Action                            Date                      FR Cite

_________________________________________________________________________

NPRM                            11/29/93                    58 FR 69225
NPRM Comment Period End         12/13/93                    58 FR 69225
Final Action                    12/30/93                    58 FR 69225
Final Action Effective          12/30/93

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Gregg W. Corso, Chief, Office of Tender Offers, 
Securities and Exchange Commission, Division of Corporation Finance, 
450 5th Street NW., Washington, DC 20549, 202 272-3097

RIN: 3235-AG01
[FR Doc. 94-7683 Filed 04-22-94; 8:45 am]
BILLING CODE 8010-01-F
