[ The Regulatory Plan and Unified Agenda of Federal Regulatory and Deregulatory Actions]
[Securities and Exchange Commission Semiannual Regulatory Agenda
]
[From the U.S. Government Printing Office, www.gpo.gov]
[[Page 62781]]
_______________________________________________________________________
Part LXIII
Securities and Exchange Commission
_______________________________________________________________________
Semiannual Regulatory Agenda
[[Page 62782]]
SECURITIES AND EXCHANGE COMMISSION (SEC)
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
17 CFR Ch. II
[Release Nos. 33-7567, 34-40371, 35-26911, 39-2368, IC-23415, IA-1748,
File No. S7-24-98]
Regulatory Flexibility Agenda
AGENCY: Securities and Exchange Commission.
ACTION: Semiannual regulatory agenda.
_______________________________________________________________________
SUMMARY: The Securities and Exchange Commission is publishing an agenda
of its rulemaking actions pursuant to the Regulatory Flexibility Act.
Information in the agenda was accurate on August 27, 1998, the date on
which the Commission's staff completed compilation of the data. To the
extent possible, rulemaking actions by the Commission since that date
have been reflected in the agenda. The Commission invites questions and
public comment on the agenda and on the individual agenda entries.
DATES: Public comments are due by December 30, 1998.
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. S7-24-98
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: Anne H. Sullivan, Office of the
General Counsel, 202-942-0954.
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. As described in
the Introduction to the Unified Agenda, information in the October 1998
agenda on whether small entities are affected by the rule is displayed
in a modified format. The agenda now reports whether a regulatory
flexibility analysis is required by existing law; if it is not
required, the agenda reports whether the rule nonetheless is likely to
have some effect on small entities.
The following abbreviations for the acts administered by the
Commission are used throughout the agenda:
``Securities Act'' - Securities Act of 1933
``Exchange Act'' - Securities Exchange Act of 1934
``PUHCA'' - Public Utility Holding Company Act of 1935
``Investment Company Act'' - Investment Company Act of 1940
``Investment Advisers Act'' - Investment Advisers Act of 1940
The Commission's regulatory flexibility agenda is set forth
below. The Commission invites public comment on the agenda and on
the individual agenda entries.
Dated: August 27, 1998.
By the Commission.
Jonathan G. Katz,
Secretary.
DIVISION OF CORPORATION FINANCE--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4645 Asset-Backed Securities Disclosure................................................... 3235-AF74
4646 Company Registration and Regulation of Capital Formation............................. 3235-AG83
4647 Financial Statements and Periodic Reports for Related Issuer Guarantors.............. 3235-AH52
4648 Regulation of Extraordinary Corporate Transactions................................... 3235-AG84
4649 Definitions for Purposes of the Private Litigation Reform Act of 1995................ 3235-AG89
4650 Definition of ``Qualified Purchaser''................................................ 3235-AH15
4651 Exemptions for International Tender and Exchange Offers.............................. 3235-AD97
----------------------------------------------------------------------------------------------------------------
DIVISION OF CORPORATION FINANCE--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4652 Streamlining Rule 144................................................................ 3235-AH13
4653 Rule 504 of Regulation D............................................................. 3235-AH35
4654 Conforming Segment Reporting With Generally Accepted Accounting Principles........... 3235-AH43
4655 Addressing Abuses of Form S-8 by Companies Using Consultants to Raise Capital........ 3235-AG94
4656 Revisions to Rules Governing Options Disclosure Document............................. 3235-AH31
4657 Delayed Pricing for Companies Not Eligible for Form S-3.............................. 3235-AG86
[[Page 62783]]
4658 Increase in Dollar Amounts in Rule 701, the Exemption for Offers and Sales by Certain
Compensatory Benefit Plans............................................................ 3235-AH21
----------------------------------------------------------------------------------------------------------------
DIVISION OF CORPORATION FINANCE--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4659 Amendments to the Shareholder Proposal Rule.......................................... 3235-AH20
4660 Plain Vanilla Treatment of Election Contest Proxies/Shareholder Communications....... 3235-AG91
----------------------------------------------------------------------------------------------------------------
DIVISION OF INVESTMENT MANAGEMENT--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4661 Form ADV Uniform Application for Investment Adviser Registration..................... 3235-AD21
4662 Books and Records To Be Maintained by Investment Advisers............................ 3235-AH24
4663 Custody or Possession of Funds or Securities of Clients.............................. 3235-AH26
4664 Form ADV-W Notice of Withdrawal From Registration as Investment Adviser.............. 3235-AH27
4665 Principal Transactions With Investment Advisory Clients.............................. 3235-AH34
4666 Shareholder Report and Financial Statement Revisions................................. 3235-AG64
4667 Exemption for Subsidiaries Organized To Finance Operations of Domestic or Foreign
Companies; Certain Prima Facie Investment Companies................................... 3235-AE95
4668 Deposits of Securities in Securities Depositories.................................... 3235-AG71
4669 Proposed Amendments in Investment Company Advertising Rules.......................... 3235-AH19
4670 Transactions in Certain Canadian Retirement Plans.................................... 3235-AH32
4671 Reports of Significant Events........................................................ 3235-AH50
4672 Custody of Investment Company Assets Outside the United States....................... 3235-AH55
4673 Acquisition by Investment Company of Interest in Repurchase Agreement or Refunded
Security To Be Treated as Acquisition of Underlying Securities........................ 3235-AH56
4674 Exemption for the Acquisition of Securities During the Existence of an Underwriting
Syndicate............................................................................. 3235-AH57
4675 Amendments to Form N-SAR, Semiannual Report of Registered Investment Companies....... 3235-AF93
4676 Amendments to Rule 8f-1 and Deregistration Form N-8F, and Rule 101 of Regulation S-T. 3235-AG29
4677 Amendments to the Cash Solicitation Rule............................................. 3235-AH33
----------------------------------------------------------------------------------------------------------------
DIVISION OF INVESTMENT MANAGEMENT--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4678 Electronic Filing of Institutional Investment Manager Reports on Form 13F............ 3235-AG97
4679 Temporary Exemption for Certain Investment Advisers.................................. 3235-AH02
4680 Investment Company Names............................................................. 3235-AH11
4681 Requirements Relating to Codes of Ethics With Respect to Registered Investment
Companies; Records To Be Maintained by Investment Advisers............................ 3235-AG27
4682 Delivery of Disclosure Documents to Households....................................... 3235-AG98
4683 Insurance Products: New Form N-6 for Registration of Separate Accounts Offering
Variable Life Insurance Contracts..................................................... 3235-AG37
4684 PUHCA: Exemption for Certain Acquisitions of Foreign Utility Companies............... 3235-AF78
4685 Status of Subsidiary Companies Formed To Hold Interests in Foreign Utility Companies. 3235-AF79
----------------------------------------------------------------------------------------------------------------
[[Page 62784]]
DIVISION OF INVESTMENT MANAGEMENT--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4686 Unit Investment Trusts: Simplification of Registration Statements.................... 3235-AA47
4687 Performance Advertising by Unit Investment Trusts.................................... 3235-AG63
4688 Mergers of Certain Affiliated Investment Companies................................... 3235-AG31
4689 Insurance Products: Equity Index Insurance Products Concept Release.................. 3235-AH23
----------------------------------------------------------------------------------------------------------------
DIVISION OF INVESTMENT MANAGEMENT--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4690 Exemption for Investment Advisers Operating in Multiple States; Revisions to Rules
Implementing Amendments to the Investment Advisers Act of 1940; Colorado and Iowa
Investment Advisers................................................................... 3235-AH22
4691 Exemption From the Compensation Prohibition of Section 205(a)(1) for Investment
Advisers.............................................................................. 3235-AH25
4692 Investment Adviser Year 2000 Reports................................................. 3235-AH45
4693 Small Entities for Purposes of the Regulatory Flexibility Act as Applied to the
Investment Company Act and the Investment Advisers Act................................ 3235-AG62
4694 Exemption of Certain Purchase or Sale Transactions Between an Investment Company and
Certain Affiliated Persons............................................................ 3235-AG57
4695 Bonding of Officers and Employees of Registered Management Investment Companies...... 3235-AG58
----------------------------------------------------------------------------------------------------------------
DIVISION OF MARKET REGULATION--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4696 Amendments to Rules 17a-3 and 17a-4 Under the Securities Exchange Act of 1934........ 3235-AH04
4697 Net Capital Rule: Customer Protection Rule........................................... 3235-AH05
4698 Risk Assessment Recordkeeping and Reporting Requirement.............................. 3235-AH06
4699 Exemption of Certain Foreign Brokers and Dealers..................................... 3235-AH17
4700 Purchases of Certain Equity Securities by the Issuer and Others...................... 3235-AH48
4701 Untimely Announcement of Record Dates................................................ 3235-AH38
4702 Form TA-2, Form To Be Used by Transfer Agents Registered Pursuant to Section 17A of
the Securities Exchange of 1934 for the Annual Report of Transfer Agent Activities.... 3235-AH44
4703 Purchases of Certain Equity Securities by the Issuers and Others..................... 3235-AH37
4704 Tender and Reorganization Agents..................................................... 3235-AH53
4705 Exemption From Exchange Act Section 11(d)(1) for Securities of Foreign Issuers Sold
on an Installment Basis............................................................... 3235-AH58
4706 Net Capital Rule Concept Release..................................................... 3235-AH29
4707 Destruction of Cancelled Securities Certificates..................................... 3235-AH54
----------------------------------------------------------------------------------------------------------------
DIVISION OF MARKET REGULATION--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4708 Net Capital Requirements for Brokers or Dealers...................................... 3235-AD79
4709 Market Risk Haircuts for Instruments Subject to Interest Rate Risk................... 3235-AG18
4710 OTC Derivatives Dealers.............................................................. 3235-AH16
4711 Proposed Amendments to Transfer Agent Rules.......................................... 3235-AG24
4712 Expanding the Scope of Self-Regulatory Organization Matters That Do Not Constitute
Proposed Rule Changes Pursuant to Rule 19b-4.......................................... 3235-AH39
4713 Exemption of the Securities of the Kingdom of Belgium Under the Securities Exchange
Act of 1934 for Purposes of Trading Futures Contracts on Those Securities............. 3235-AH46
4714 Proposed Amendments to the Intermarket Trading System (ITS) Plan To Expand the ITS/
Computer Assisted Execution System Linkage to All Listed Securities and Eliminate the
Unanimous Vote........................................................................ 3235-AH49
4715 Proposed Amendments to National Market System Plan................................... 3235-AH51
4716 Regulation of Alternative Trading Systems and National Securities Exchanges.......... 3235-AH41
[[Page 62785]]
4717 Net Capital Requirements for Brokers or Dealers--Definition of the Term Nationally
Recognized Statistical Rating Organization............................................ 3235-AH28
4718 Amendment to Rule 9b-1 Under the Securities Exchange Act Relating to the Options
Disclosure Document................................................................... 3235-AH30
4719 Reports To Be Made by Certain Brokers and Dealers.................................... 3235-AH36
4720 Initiation or Resumption of Quotations Without Specified Information................. 3235-AH40
4721 Year 2000 Readiness Reports To Be Made by Transfer Agents............................ 3235-AH42
----------------------------------------------------------------------------------------------------------------
DIVISION OF MARKET REGULATION--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4722 Amendment to Form BDW and Amendment to Exchange Act Rule 15b6-1 and Amendments to
Rules 15b1-1, 15b3-1, 15Ba2-2, 15Ca1-1, and 15Ca2-1................................... 3235-AG69
4723 Amendment to Rule 11Ac1-1............................................................ 3235-AH00
4724 Large Trader Reporting System........................................................ 3235-AE42
----------------------------------------------------------------------------------------------------------------
DIVISION OF MARKET REGULATION--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4725 Nationally Recognized Statistical Rating Organizations............................... 3235-AG41
4726 Definitions of ``Small Business'' or ``Small Organization'' Under the Securities
Exchange Act of 1934.................................................................. 3235-AH01
----------------------------------------------------------------------------------------------------------------
OFFICES AND OTHER PROGRAMS--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
4727 Proposed Amendment to Rule 102(e) of the Commission's Rules of Practice.............. 3235-AH47
----------------------------------------------------------------------------------------------------------------
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
DIVISION OF CORPORATION FINANCE
_______________________________________________________________________
4645. ASSET-BACKED SECURITIES DISCLOSURE
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
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 amendments to revise rules and forms which
would specify disclosure requirements for asset-backed securities
transactions.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Mark Green, Division of Corporation Finance, Securities
and Exchange Commission
Phone: 202 942-1940
Fax: 202 942-9635
RIN: 3235-AF74
_______________________________________________________________________
4646. COMPANY REGISTRATION AND REGULATION OF CAPITAL FORMATION
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq
CFR Citation: 17 CFR 230; 17 CFR 239; 17 CFR 240; 17 CFR 249
Legal Deadline: None
Abstract: The Division is considering recommending that the Commission
[[Page 62786]]
propose rules that would reform the registration of the capital
formation process while maintaining or enhancing investor protection.
The Division is considering a number of approaches to reform,
including: the implementation of a ``company registration'' approach;
modifications to the shelf registration system; liberalization of the
treatment of unregistered securities; and the deregulation of offers.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
Notice With Request for Comments07/31/96 61 FR 40044
Notice Comment Period End 09/30/96
NPRM 10/00/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Anita T. Klein, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2950
Fax: 202 942-9525
RIN: 3235-AG83
_______________________________________________________________________
4647. FINANCIAL STATEMENTS AND PERIODIC REPORTS FOR RELATED
ISSUER GUARANTORS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq
CFR Citation: 17 CFR 210; 17 CFR 240
Legal Deadline: None
Abstract: The Division is considering recommending that the Commission
propose rules that would specify the financial statements and periodic
reports for related issuers and guarantors. The proposals would largely
reflect staff interpretations under SAB 53.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Michael Hyatt, Office of Chief Counsel, Division of
Corporation Finance, Securities and Exchange Commission
Phone: 202 942-2900
Fax: 202 942-9525
RIN: 3235-AH52
_______________________________________________________________________
4648. REGULATION OF EXTRAORDINARY CORPORATE TRANSACTIONS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78n
CFR Citation: 17 CFR 240
Legal Deadline: None
Abstract: The Division is considering recommending that the Commission
propose rules designed to adapt the regulatory scheme applicable to
extraordinary corporate transactions such as mergers, tender offers and
going private transactions to the realities of today's securities
marketplace, as well as promote uniform disclosure in connection with
such transactions.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 10/00/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: Undetermined
Agency Contact: P.J. Himelfarb, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2900
Fax: 202 942-9525
RIN: 3235-AG84
_______________________________________________________________________
4649. DEFINITIONS FOR PURPOSES OF THE PRIVATE LITIGATION REFORM ACT OF
1995
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq
CFR Citation: 17 CFR 230.177(New); 17 CFR 230.178(New); 17 CFR
230.17a(New); 17 CFR 240.3b-12(New); 17 CFR 240.3b-13(New)
Legal Deadline: None
Abstract: The Division is considering recommending that the Commission
issue proposed rules that will define the terms ``outside director,''
``limited liability company,'' ``partnership,'' and ``direct
participation investment program.'' These definitions are deemed
necessary in view of changes to the Securities Act and Exchange Act
made in the Private Securities Litigation Reform Act of 1995.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/00/99
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Elliot B. Staffin, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2829
Fax: 202 942-9525
RIN: 3235-AG89
_______________________________________________________________________
4650. DEFINITION OF ``QUALIFIED PURCHASER''
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq
CFR Citation: 17 CFR 230
Legal Deadline: None
Abstract: The Division is considering recommending that the Commission
propose a definition of the term ``qualified purchaser'' as used in
section 18 of the Securities Act of 1933. Under that section,
securities offered or sold to ``qualified purchasers'' are ``covered
securities,'' and thus, exempt from state regulation.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/00/99
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: John Reynolds, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2950
Fax: 202 942-9516
RIN: 3235-AH15
[[Page 62787]]
_______________________________________________________________________
4651. EXEMPTIONS FOR INTERNATIONAL TENDER AND EXCHANGE OFFERS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
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 Division is considering recommending that the Commission
repropose amendments 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.
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
Reproposal 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Laurie Green, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2920
Fax: 202 942-9638
RIN: 3235-AD97
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
DIVISION OF CORPORATION FINANCE
_______________________________________________________________________
4652. STREAMLINING RULE 144
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq
CFR Citation: 17 CFR 230.144
Legal Deadline: None
Abstract: The Commission has proposed revisions to Rule 144, Rule 145
and Form 144 to make the rules and form easier to understand and apply.
The proposed amendments would, among other things, add a bright line
test to the Rule 144 definition of affiliate, eliminate the Rule 144
manner of sale requirements, increase the Form 144 filing thresholds,
and codify certain interpretive positions. The proposals also would
eliminate the presumptive underwriter provisions of Rule 145.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/20/97 62 FR 9246
NPRM Comment Period End 04/29/97
Final Action 04/00/99
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Elizabeth Murphy, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2900
Fax: 202 942-9525
RIN: 3235-AH13
_______________________________________________________________________
4653. RULE 504 OF REGULATION D
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq
CFR Citation: 17 CFR 230.504
Legal Deadline: None
Abstract: The Commission proposed amendments to Rule 504 of Regulation
D to address possible abuses that may be occurring under claim of that
exemption.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 05/28/98 63 FR 29168
NPRM Comment Period End 07/27/98
Final Action 02/00/99
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Barbara C. Jacobs, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 703 942-2950
Fax: 703 942-9516
RIN: 3235-AH35
_______________________________________________________________________
4654. CONFORMING SEGMENT REPORTING WITH GENERALLY ACCEPTED ACCOUNTING
PRINCIPLES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq
CFR Citation: 17 CFR 210.3-03; 17 CFR 210.12-16; 17 CFR 229.101; 17
CFR 229.102; 17 CFR 249.220f
Legal Deadline: None
Abstract: The Commission proposed amendments to its disclosure
requirements relating to segment reporting to conform them with the
recently revised segment reporting requirements of Generally Accepted
Accounting Principles established by the Financial Accounting Standards
Board.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/01/98 63 FR 35886
NPRM Comment Period End 07/31/98
Final Action 11/00/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: James R. Budge, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2950
Fax: 202 942-9516
RIN: 3235-AH43
[[Page 62788]]
_______________________________________________________________________
4655. ADDRESSING ABUSES OF FORM S-8 BY COMPANIES USING CONSULTANTS TO
RAISE CAPITAL
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq
CFR Citation: 17 CFR 230.428; 17 CFR 239.16b
Legal Deadline: None
Abstract: The Commission proposed rules to address abuses of Form S-8
by companies using consultants to raise capital.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/25/98 63 FR 9648
NPRM Comment Period End 04/27/98
Final Action 12/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Anne Krauskopf, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2900
Fax: 202 942-9525
RIN: 3235-AG94
_______________________________________________________________________
4656. REVISIONS TO RULES GOVERNING OPTIONS DISCLOSURE DOCUMENT
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq
CFR Citation: 17 CFR 230.135b
Legal Deadline: None
Abstract: The Commission proposed amendments to provide that an options
disclosure document prepared in accordance with Rule 9b-1 under the
Exchange Act is not a prospectus and accordingly will not be subject to
civil liability under section 12(a)(2) of the Securities Act.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/01/98 63 FR 36136
ANPRM Comment Period End 07/31/98
Final Action 12/00/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: David Lavan, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2900
Fax: 202 942-9525
RIN: 3235-AH31
_______________________________________________________________________
4657. DELAYED PRICING FOR COMPANIES NOT ELIGIBLE FOR FORM S-3
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq
CFR Citation: 17 CFR 230.415; 17 CFR 230.424; 17 CFR 230.430A
Legal Deadline: None
Abstract: The Commission proposed amendments to Rule 430A, which would
permit small or less seasoned companies to price primary offerings of
securities on a delayed basis, provided certain conditions are
satisfied.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/20/97 62 FR 9276
NPRM Comment Period End 04/29/97
Final Action 09/00/99
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Barbara C. Jacobs, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2950
Fax: 202 942-9516
RIN: 3235-AG86
_______________________________________________________________________
4658. INCREASE IN DOLLAR AMOUNTS IN RULE 701, THE EXEMPTION FOR OFFERS
AND SALES BY CERTAIN COMPENSATORY BENEFIT PLANS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77c(b); 15 USC 77s
CFR Citation: 17 CFR 230.701
Legal Deadline: None
Abstract: The Commission proposed amendments to increase the available
exemptive amounts provided by Rule 701 in connection with certain
offers and sales by compensatory benefit plans.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/02/98 63 FR 10785
NPRM Comment Period End 05/04/98
Final Action 02/00/99
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Richard K. Wulff, Office of Small Business, Division of
Corporation Finance, Securities and Exchange Commission
Phone: 202 942-2950
Fax: 202 942-9516
RIN: 3235-AH21
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
DIVISION OF CORPORATION FINANCE
_______________________________________________________________________
4659. AMENDMENTS TO THE SHAREHOLDER PROPOSAL RULE
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 78n; 15 USC 78w
CFR Citation: 17 CFR 240.14a-4(c); 17 CFR 240.15a-8
Legal Deadline: None
Abstract: The Commission adopted amendments to Rule 14a-8, the
shareholder proposal rule, and Rule 14a-4, the rule that governs the
availability of discretionary voting authority.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 09/18/97 62 FR 50682
[[Page 62789]]
NPRM Comment Period End 11/25/97
Comment Period Extended to 01/
02/98 11/25/97 62 FR 62732
Final Action 05/28/98 63 FR 29106
Final Action Effective 06/29/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Sanjay M. Shirodkar, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2900
Fax: 202 942-9525
RIN: 3235-AH20
_______________________________________________________________________
4660. PLAIN VANILLA TREATMENT OF ELECTION CONTEST PROXIES/SHAREHOLDER
COMMUNICATIONS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78n
CFR Citation: 17 CFR 240.14a-6
Legal Deadline: None
Abstract: The Commission is withdrawing this item from the Unified
Agenda because the Commission does not expect to consider the item
within the next 12 months, but the Commission may consider the item
further at a later date.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
Withdrawn 10/01/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Laura Badian, Division of Corporation Finance,
Securities and Exchange Commission
Phone: 202 942-2920
Fax: 202 942-9638
RIN: 3235-AG91
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
DIVISION OF INVESTMENT MANAGEMENT
_______________________________________________________________________
4661. FORM ADV UNIFORM APPLICATION FOR INVESTMENT ADVISER REGISTRATION
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80b-3(c)(1); 15 USC 80b-4
CFR Citation: 17 CFR 275.203-1; 17 CFR 275.204-1; 17 CFR 279.1
Legal Deadline: None
Abstract: The Division of Investment Management is considering
recommending revising Form ADV and related rules to: (1) improve
disclosure of information on advisers' disciplinary history; and (2)
enhance disclosure of information about the advisory relationship
provided to clients and prospective clients.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Lori Hamilton Price, Task Force on Investment Adviser
Regulation, Division of Investment Management, Securities and Exchange
Commission
Phone: 202 942-0531
RIN: 3235-AD21
_______________________________________________________________________
4662. BOOKS AND RECORDS TO BE MAINTAINED BY INVESTMENT ADVISERS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80b-4; 15 USC 80b-6(4); 15 USC 80b-11(a)
CFR Citation: 17 CFR 275.204-2
Legal Deadline: None
Abstract: The Division of Investment Management is considering
recommending that the Commission update the books and records
requirements for investment advisers.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 01/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Jeffrey Himstreet, Task Force on Investment Adviser
Regulation, Division of Investment Management, Securities and Exchange
Commission
Phone: 202 942-0533
RIN: 3235-AH24
_______________________________________________________________________
4663. CUSTODY OR POSSESSION OF FUNDS OR SECURITIES OF CLIENTS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80b-6; 15 USC 80b-4; 15 USC 80b-11
CFR Citation: 17 CFR 275.206(4)-2
Legal Deadline: None
Abstract: The Division of Investment Management is considering
recommending a proposal to the Commission to revise the custody rule
under the Investment Advisers Act of 1940.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 09/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Arthur Laby, Task Force on Investment Adviser
Regulation, Division of Investment Management, Securities and Exchange
Commission
Phone: 202 942-0523
RIN: 3235-AH26
[[Page 62790]]
_______________________________________________________________________
4664. FORM ADV-W NOTICE OF WITHDRAWAL FROM REGISTRATION AS INVESTMENT
ADVISER
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80b-3; 15 USC 80b-11
CFR Citation: 17 CFR 279.2
Legal Deadline: None
Abstract: The Division of Investment Management is considering revising
Form ADV-W to reflect amendments to the Investment Advisers Act of 1940
enacted as part of the Investment Advisers Supervision Coordination
Act, title III of the National Securities Markets Improvement Act of
1996.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 09/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Lori Hamilton Price, Task Force on Investment Adviser
Regulation, Division of Investment Management, Securities and Exchange
Commission
Phone: 202 942-0531
RIN: 3235-AH27
_______________________________________________________________________
4665. PRINCIPAL TRANSACTIONS WITH INVESTMENT ADVISORY CLIENTS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80b-6a
CFR Citation: 17 CFR 275
Legal Deadline: None
Abstract: The staff of the Division of Investment Management is
considering recommending that the Commission permit investment advisers
to enter into principal transactions with their clients under certain
circumstances.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 09/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Karen Goldstein, Task Force on Investment Adviser
Regulation, Division of Investment Management, Securities and Exchange
Commission
Phone: 202 942-0646
RIN: 3235-AH34
_______________________________________________________________________
4666. SHAREHOLDER REPORT AND FINANCIAL STATEMENT REVISIONS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77f; 15 USC 77j; 15 USC 80a-29
CFR Citation: 17 CFR 210; 17 CFR 270.30d-1
Legal Deadline: None
Abstract: The staff of the Division of Investment Management is
considering whether to recommend that the Commission propose revisions
to the shareholder report and financial statement requirements for
investment companies to improve the quality of updates and simplify
investment company financial statement presentation.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Markian Melnyk, Office of Disclosure Regulation,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0721
RIN: 3235-AG64
_______________________________________________________________________
4667. EXEMPTION FOR SUBSIDIARIES ORGANIZED TO FINANCE OPERATIONS OF
DOMESTIC OR FOREIGN COMPANIES; CERTAIN PRIMA FACIE INVESTMENT COMPANIES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37(a); 15 USC 77s; 15 USC
78w
CFR Citation: 17 CFR 270.3a-5; 17 CFR 270.3a-1; 17 CFR 230.489; 17 CFR
239.43
Legal Deadline: None
Abstract: The staff of the Division of Investment Management is
considering whether to recommend that the Commission propose amendments
to expand rule 3a-5 to permit, among other things, finance subsidiaries
of U.S. banks and insurance companies to rely on the rule. The staff
also is considering whether to recommend that the Commission propose
amendments to rule 3a-1 to eliminate a requirement that has prevented
certain holding companies of foreign banks and foreign insurance
companies from relying on that rule.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Cynthia G. Pugh, Office of Regulatory Policy, Division
of Investment Management, Securities and Exchange Commission
Phone: 202 942-0673
RIN: 3235-AE95
_______________________________________________________________________
4668. DEPOSITS OF SECURITIES IN SECURITIES DEPOSITORIES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-17(f); 15 USC 80a-06(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.17f-4
Legal Deadline: None
Abstract: Rule 17f-4 governs the use of securities depositories as
custodians of the assets of management investment companies. The staff
of the Division of Investment Management is considering whether to
recommend that the Commission propose amendments that would, among
other things, expand the types of entities that may be used as
securities depositories and permit investment company officers to
authorize depository arrangements.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
[[Page 62791]]
Agency Contact: Thomas M. J. Kerwin, Office of Regulatory Policy,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AG71
_______________________________________________________________________
4669. PROPOSED AMENDMENTS IN INVESTMENT COMPANY ADVERTISING RULES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77e; 15 USC 77h; 15 USC 77j; 15 USC 77s(a); 15
USC 80a-8; 15 USC 80a-22; 15 USC 80a-24(g); 15 USC 80a-29; 15 USC 80a-
37
CFR Citation: 17 CFR 230.482
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission propose to amend Rule 482, to permit
advertisements that are not subject to restrictions limiting the
content to information ``the substance of which'' is in a fund's
prospectus.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Dore VanSlyke, Division of Investment Management,
Securities and Exchange Commission
Phone: 202 942-0723
RIN: 3235-AH19
_______________________________________________________________________
4670. TRANSACTIONS IN CERTAIN CANADIAN RETIREMENT PLANS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-1 et seq; 15 USC 77a et seq
CFR Citation: Not yet determined
Legal Deadline: None
Abstract: The staff of the Division of Investment Management is
evaluating whether to recommend that the Commission provide exemptions
from the Securities Act and the Investment Company Act for issuers of
securities that are purchased through certain Canadian retirement
plans, such as Registered Retirement Savings Plans, Registered
Retirement Income Funds, or similar plans.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Cynthia Pugh, Office of Regulatory Policy, Division of
Investment Management, Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AH32
_______________________________________________________________________
4671. REPORTS OF SIGNIFICANT EVENTS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq; 15 USC 80a-1 et
seq
CFR Citation: Not yet determined
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission propose a rule that requires
registered investment companies to file reports about significant
events.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 09/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Annette M. Capretta, Division of Investment Management,
Securities and Exchange Commission
Phone: 202 942-0624
RIN: 3235-AH50
_______________________________________________________________________
4672. CUSTODY OF INVESTMENT COMPANY ASSETS OUTSIDE THE UNITED
STATES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-17(f); 15 USC 80a-06(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.17f-5
Legal Deadline: None
Abstract: Rule 17f-5 governs the custody of the assets of registered
management investment companies outside the United States. The staff of
the Division of Investment Management is considering whether to
recommend that the Commission propose amendments to the rule.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Thomas M.J. Kerwin, Office of Regulatory Policy,
Investment Management, Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AH55
_______________________________________________________________________
4673. ACQUISITION BY INVESTMENT COMPANY OF INTEREST IN
REPURCHASE AGREEMENT OR REFUNDED SECURITY TO BE TREATED AS ACQUISITION
OF UNDERLYING SECURITIES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.2a-7; 17 CFR 270.12d3-1
Legal Deadline: None
Abstract: The staff of the Division of Investment Management is
considering whether to recommend that the Commission propose a new rule
that would permit investment companies to ``look through'' specific
repurchase agreements to the securities that collateralize them, and to
``look through'' specific pre-refunded bonds to escrowed securities,
for certain purposes under the Investment Company Act. The staff is
also considering whether to recommend conforming amendments to rule 2a-
7 and rule 12d3-1.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 01/00/99
Regulatory Flexibility Analysis Required: Undetermined
[[Page 62792]]
Government Levels Affected: None
Agency Contact: Thomas M.J. Kerwin, Office of Regulatory Policy,
Investment Management, Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AH56
_______________________________________________________________________
4674. EXEMPTION FOR THE ACQUISITION OF SECURITIES DURING THE
EXISTENCE OF AN UNDERWRITING SYNDICATE
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-10(f); 15 USC 80a-30(a); 15 USC 80a-37(a);
15 USC 80a-6(c)
CFR Citation: 17 CFR 270.10f-3; 17 CFR 270.17a-10 (New)
Legal Deadline: None
Abstract: The staff of the Division of Investment Management is
considering whether to recommend that the Commission propose amendments
to rule 10f-3 under the Investment Company Act to permit investment
companies to 1) purchase government securities from a non-affiliated
underwriter in syndicates involving an underwriter affiliated with the
investment company's investment adviser and 2) acquire municipal
securities from underwriting syndicates in ``group sales.''
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Curtis A. Young, Office of Regulatory Policy, Division
of Investment Management, Securities and Exchange Commission
Phone: 202 942-0590
RIN: 3235-AH57
_______________________________________________________________________
4675. AMENDMENTS TO FORM N-SAR, SEMIANNUAL REPORT OF REGISTERED
INVESTMENT COMPANIES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
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 semiannual
report for registered investment companies, to update the items of the
form.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Carolyn Miller, Office of Financial Analysis, Division
of Investment Management, Securities and Exchange Commission
Phone: 202 942-0510
RIN: 3235-AF93
_______________________________________________________________________
4676. AMENDMENTS TO RULE 8F-1 AND DEREGISTRATION FORM N-8F, AND RULE 101
OF REGULATION S-T
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-37(a)
CFR Citation: 17 CFR 274.218; 17 CFR 270.8F-1; 17 CFR 232.101
Legal Deadline: None
Abstract: The staff of the Division of Investment Management is
considering recommending to the Commission amendments to rule 8f-1 and
Form N-8F under the Investment Company Act. Rule 8f-1 and Form N-8F
prescribe the form that certain registered investment companies must
use to apply for an order to deregister under section 8(f). The
proposed amendments to rule 8f-1 would expand the categories of funds
eligible to use Form N-8F. The proposed amendments to Form N-8F are
designed to simplify and expedite the deregistration process for
investment companies by, among other things, requiring that the form be
filed on the Commission's Data Gathering, Analysis,and Retrieval
(EDGAR) system. In system. In connection with the proposal to require
that the form be filed on EDGAR, the staff is considering recommending
amending rule 101 of the Commission's Regulation S-T.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Robin S. Gross, Office of Regulatory Policy, Division
of Investment Management, Securities and Exchange Commission
Phone: 202 942-0640
RIN: 3235-AG29
_______________________________________________________________________
4677. AMENDMENTS TO THE CASH SOLICITATION RULE
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80b-4; 15 USC 80b-6; 15 USC 80-11(a)
CFR Citation: 17 CFR 275.206(4)-3
Legal Deadline: None
Abstract: The staff of the Division of Investment Management is
considering whether to recommend revisions to the cash solicitation
rule.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 01/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Carolyn-Gail Gilheany, Task Force on Investment Adviser
Regulation, Division of Investment Management, Securities and Exchange
Commission
Phone: 202 942-0529
RIN: 3235-AH33
[[Page 62793]]
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
DIVISION OF INVESTMENT MANAGEMENT
_______________________________________________________________________
4678. ELECTRONIC FILING OF INSTITUTIONAL INVESTMENT MANAGER REPORTS ON
FORM 13F
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78c; 15 USC 78l; 15 USC 78m; 15 USC 78n; 15
USC 78o(d); 15 USC 78w(a); 15 USC 78ll
CFR Citation: 17 CFR 232.101; 17 CFR 240.13f-1; 17 CFR 240.13f-2; 17
CFR 249.325; 17 CFR 249.326
Legal Deadline: None
Abstract: The Commission has proposed a rule that would make electronic
filing of Form 13F reports mandatory instead of optional. It would also
eliminate special formatting requirements for the electronic version of
those reports and the related requirement that they be submitted on
magnetic tape. Form 13F reports are filed quarterly by institutional
investment managers having more than $100,000,000 worth of equity
securities in accounts under management to report the equity securities
holdings of those accounts.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/01/97 62 FR 36467
NPRM Comment Period End 08/07/97
Final Action 11/00/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Ruth Armfield Sanders, Division of Investment
Management, Securities and Exchange Commission
Phone: 202 942-0633
RIN: 3235-AG97
_______________________________________________________________________
4679. TEMPORARY EXEMPTION FOR CERTAIN INVESTMENT ADVISERS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-37; 15 USC 80a-6(c)
CFR Citation: 17 CFR 270.15a-4
Legal Deadline: None
Abstract: The Commission proposed amendments to Rule 15a-4 under the
Investment Company Act. The rule permits a person, under certain
circumstances, to serve temporarily as an investment adviser to an
investment company under a contract that the investment company's
shareholders have not approved. The amendments would, among other
things, expand the exemption provided under the rule to include new
advisory contracts entered into as a result of a merger or similar
business combination.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/28/98 63 FR 40231
NPRM Comment Period End 09/30/98
Final Action 01/00/99
Regulatory Flexibility Analysis Required: No
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Marilyn Mann, Division of Investment Management,
Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AH02
_______________________________________________________________________
4680. INVESTMENT COMPANY NAMES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: PL 104-290, sec 208
CFR Citation: 17 CFR 270.35d-1 (New)
Legal Deadline: None
Abstract: The Commission has proposed a rule that would require a
registered investment company with a name that suggests certain
investments to invest at least 80 percent of its assets in the types of
investments suggested by its name.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/27/97 62 FR 10955
NPRM Comment Period End 06/09/97
Final Action 12/00/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Anu Dubey, Office of Disclosure Regulation, Division of
Investment Management, Securities and Exchange Commission
Phone: 202 942-0687
RIN: 3235-AH11
_______________________________________________________________________
4681. REQUIREMENTS RELATING TO CODES OF ETHICS WITH RESPECT TO
REGISTERED INVESTMENT COMPANIES; RECORDS TO BE MAINTAINED BY INVESTMENT
ADVISERS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-17(j); 15 USC 80a-37; 15 USC 80b-4; 15 USC
80b-6(4); 15 USC 80b-11(a); 15 USC 80a-6(c); 15 USC 80a-39; 15 USC 80b-
2(a)(17); 15 USC 80b-3; 15 USC 80b-5(e); 15 USC 80b-3a; 15 USC 80b-6a
CFR Citation: 17 CFR 270.17j-1; 17 CFR 275.204-2
Legal Deadline: None
Abstract: The Commission has proposed amendments to rule 17j-1 under
the Investment Company Act, rule 204-2 under the Investment Advisers
Act, and investment company registration forms under the Investment
Company Act and the Securities Act. The amendments to rule 17j-1 would
enhance oversight of personal investment activities of investment
company personnel by boards of directors and would require access
persons to report to their employers all securities owned by them at
the time they become access persons. Additional amendments would make
the scope of the rule more consistent with its purpose. Amendments to
rule 204-2 under the Investment Advisers Act would expand the list of
securities exempt from the recordkeeping requirements of that rule. The
amendments to fund registration forms would require investment
companies to provide disclosure in their registration statements
relating to codes of ethics and to file copies of their codes of ethics
with the Commission as exhibits to their registration statements.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 09/14/95 60 FR 47844
NPRM Comment Period End 11/13/95
Final Action 11/00/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Penelope Saltzman, Office of Regulatory Policy,
Division of
[[Page 62794]]
Investment Management, Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AG27
_______________________________________________________________________
4682. DELIVERY OF DISCLOSURE DOCUMENTS TO HOUSEHOLDS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-37; 15 USC 80a-29(e); 15 USC 77s(a); 15
USC 78l; 15 USC 78n; 15 USC 78w(a)
CFR Citation: 17 CFR 270.30d-1; 17 CFR 270.30d-2; 17 CFR 240.14a-3; 17
CFR 240.14c-3; 17 CFR 240.14c-7
Legal Deadline: None
Abstract: The Commission proposed for public comment a new rule under
the Securities Act of 1933 to allow issuers and broker-dealers to
satisfy the Act's prospectus delivery requirements, for two or more
investors sharing the same address, by sending a single prospectus,
subject to certain conditions. The Commission proposed similar
amendments to the rules under the Securities Exchange Act of 1934 and
the Investment Company Act of 1940 that govern the delivery of annual
and (in the case of investment companies) semiannual reports to
shareholders. The proposed rule and rule amendments are intended to
reduce the waste and inconvenience of duplicate documents sent to
investor households and to save costs for issuers.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/13/97 62 FR 61933
NPRM Comment Period End 02/02/98
Final Action 01/00/99
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Marilyn Mann, Division of Investment Management,
Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AG98
_______________________________________________________________________
4683. INSURANCE PRODUCTS: NEW FORM N-6 FOR REGISTRATION OF SEPARATE
ACCOUNTS OFFERING VARIABLE LIFE INSURANCE CONTRACTS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq; 15 USC 80a-1 et seq; 15 USC 77g;
15 USC 77j; 15 USC 77s; 15 USC 80a-8; 15 USC 80a-29; 15 USC 80a-37
CFR Citation: Not yet determined
Legal Deadline: None
Abstract: The Commission proposed a new Form N-6 to be used for
separate accounts offering variable life insurance contracts to
register under both the Investment Company Act and the Securities Act.
Currently, most insurance company separate accounts are organized as
unit investment trusts (UITs) and register their interests on Form S-6.
Form S-6 was developed for UITs generally, and not specifically for
insurance company separate accounts that offer interests in variable
life insurance contracts.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/13/98 63 FR 13988
NPRM Comment Period End 07/01/98
Final Action 01/00/99
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: Undetermined
Agency Contact: Kevin M. Kirchoff, Office of Insurance Products,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0672
RIN: 3235-AG37
_______________________________________________________________________
4684. PUHCA: EXEMPTION FOR CERTAIN ACQUISITIONS OF FOREIGN UTILITY
COMPANIES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 79c; 15 USC 79c(b); 15 USC 79(c)(3); 15 USC
79(t); 15 USC 79(n); 15 USC 79z-5b(b)
CFR Citation: 17 CFR 250.55; 17 CFR 259.5so (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
Final Action 12/00/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: David LaRoche, Office of Public Utility Regulation,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0559
RIN: 3235-AF78
_______________________________________________________________________
4685. STATUS OF SUBSIDIARY COMPANIES FORMED TO HOLD INTERESTS IN FOREIGN
UTILITY COMPANIES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 79(t)
CFR Citation: 17 CFR 250.56 (New)
Legal Deadline: None
Abstract: The proposed rule clarifies that a subsidiary of a registered
holding company that is engaged exclusively in the business of owning
an interest in one or more foreign utility companies will be deemed to
be a foreign utility company.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/08/93 58 FR 13719
NPRM Comment Period End 04/14/93
Final Action 12/00/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: David LaRoche, Office of Public Utility Regulation,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0559
RIN: 3235-AF79
[[Page 62795]]
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Long-Term Actions
DIVISION OF INVESTMENT MANAGEMENT
_______________________________________________________________________
4686. UNIT INVESTMENT TRUSTS: SIMPLIFICATION OF REGISTRATION STATEMENTS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
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: The Division is considering recommending that the Commission
repropose for public comment Form N-7, a new form for registering unit
investment trusts (UITs) and their securities under the Investment
Company Act and the Securities Act. 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.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/17/87 52 FR 82682
NPRM Comment Period End 05/15/87
Next Action Undetermined
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: Federal
Agency Contact: Markian Melnyk, Office of Disclosure Regulation,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0721
RIN: 3235-AA47
_______________________________________________________________________
4687. PERFORMANCE ADVERTISING BY UNIT INVESTMENT TRUSTS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq; 15 USC 80a-1 et seq
CFR Citation: 17 CFR 230.482; 17 CFR 239.16; 17 CFR 270.34b-1
Legal Deadline: None
Abstract: On November 22, 1995 the Commission published a request for
public comment on a proposal that would standardize yields advertised
by certain unit investment trusts (UITs). The proposal would amend Form
S-6, the form used by UITs to register under the Securities Act, Rule
482 under the 1933 Act, which governs investment company sales
materials not accompanied or preceded by a prospectus (advertisements),
and Rule 34b-1 under the Investment Company Act which governs sales
materials that accompany or follow the delivery of a statutory
prospectus (sales literature). The proposal would require UITs to use a
standardized formula for calculating yield in their prospectuses,
advertisements, and sales literature.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/22/95 60 FR 61454
Extension of Comment Period 01/11/96 61 FR 1312
NPRM Comment Period End 01/29/96
Extended Comment Period End 03/29/96
Next Action Undetermined
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: Federal
Additional Information: This item was previously part of item 3235-
AA47, Unit Investment Trusts: Simplification of Registration
Statements.
Agency Contact: Markian Melnyk, Office of Disclosure Regulation,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0721
RIN: 3235-AG63
_______________________________________________________________________
4688. MERGERS OF CERTAIN AFFILIATED INVESTMENT COMPANIES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-17(a); 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.17a-8
Legal Deadline: None
Abstract: Rule 17a-8 currently allows a merger or similar transaction
to occur between two affiliated registered investment companies if the
affiliations are limited to sharing a common investment adviser, common
directors, and/or common officers. The staff of the Division of
Investment Management is considering whether to recommend to the
Commission that it expand the applicability of the rule to other
affiliate relationships.
Timetable: Next Action Undetermined
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Thomas M. J. Kerwin, Office of Regulatory Policy,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AG31
_______________________________________________________________________
4689. INSURANCE PRODUCTS: EQUITY INDEX INSURANCE PRODUCTS CONCEPT
RELEASE
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77a et seq
CFR Citation: 17 CFR 230.151
Legal Deadline: None
Abstract: The Commission issued a release requesting public comment on
the structure of equity index insurance products, the manner in which
they are marketed, and any other matters the Commission should consider
in addressing Federal securities law issues raised by equity index
insurance products.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
ANPRM 08/20/97 62 FR 45359
Next Action Undetermined
[[Page 62796]]
Regulatory Flexibility Analysis Required: No
Small Entities Affected: Businesses
Government Levels Affected: Undetermined
Agency Contact: Kevin M. Kirchoff, Office of Insurance Products,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0672
RIN: 3235-AH23
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
DIVISION OF INVESTMENT MANAGEMENT
_______________________________________________________________________
4690. EXEMPTION FOR INVESTMENT ADVISERS OPERATING IN MULTIPLE STATES;
REVISIONS TO RULES IMPLEMENTING AMENDMENTS TO THE INVESTMENT ADVISERS
ACT OF 1940; COLORADO AND IOWA INVESTMENT ADVISERS
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 80b-3; 15 USC 80b-11; 15 USC 80b-2(a)(17); 15
USC 80b-4; 15 USC 80b-4; 15 USC 80b-6a
CFR Citation: 17 CFR 275; 17 CFR 279
Legal Deadline: None
Abstract: The Commission adopted amendments to rules under the
Investment Advisers Act of 1940 that exempt from the prohibition on
Commission registration certain investment advisers operating in
multiple states and revise the definition of investment adviser
representative. The Commission also adopted amendments to Schedule I to
Form ADV to reflect the enactment of investment adviser statues in
Colorado and Iowa.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/19/97 62 FR 61866
NPRM Comment Period End 01/20/98
Final Action 07/24/98 63 FR 39708
Final Action Effective 08/31/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: State
Agency Contact: Carolyn-Gail Gilheany, Task Force on Investment Adviser
Regulation, Division of Investment Management, Securities and Exchange
Commission
Phone: 202 942-0529
RIN: 3235-AH22
_______________________________________________________________________
4691. EXEMPTION FROM THE COMPENSATION PROHIBITION OF SECTION 205(A)(1)
FOR INVESTMENT ADVISERS
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 80b-5(e)
CFR Citation: 17 CFR 275
Legal Deadline: None
Abstract: The Commission simplified and updated the exemption from the
compensation prohibition in section 205(a)(1) for investment advisers.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/19/97 62 FR 61882
NPRM Comment Period End 01/20/98
Final Action 07/21/98 63 FR 39022
Final Action Effective 08/20/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Arthur Laby, Task Force on Investment Adviser
Regulation, Division of Investment Management, Securities and Exchange
Commission
Phone: 202 942-0523
RIN: 3235-AH25
_______________________________________________________________________
4692. INVESTMENT ADVISER YEAR 2000 REPORTS
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 80b-4; 15 USC 80b-11
CFR Citation: 17 CFR 275; 17 CFR 279
Legal Deadline: None
Abstract: The Securities and Exchange Commission adopted a rule to
require most registered investment advisers to submit reports on their
preparations, as well as the preparation of any registered investment
companies they advise, for the Year 2000 computer problem.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/07/98 63 FR 36632
NPRM Comment Period End 08/10/98
Final Action 10/08/98 63 FR 54308
Final Action Effective 11/13/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Arthur Laby, Task Force on Investment Adviser
Regulation, Division of Investment Management, Securities and Exchange
Commission
Phone: 202 942-0523
RIN: 3235-AH45
_______________________________________________________________________
4693. SMALL ENTITIES FOR PURPOSES OF THE REGULATORY FLEXIBILITY ACT AS
APPLIED TO THE INVESTMENT COMPANY ACT AND THE INVESTMENT ADVISERS ACT
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 80a-37; 15 USC 80b-11
CFR Citation: 17 CFR 270.0-10; 17 CFR 275.0-7
Legal Deadline: None
Abstract: The Commission issued a release that adopted amendments to
rule 0-10 under the Investment Company Act and to rule 0-7 under the
Investment Advisers Act. The amendments modify the definition of the
terms ``small business'' and ``small organization'' as applied to an
investment company and an investment adviser for purposes of the
Regulatory Flexibility Act.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 01/28/97 62 FR 4106
NPRM Comment Period End 02/27/97
Extension of Comment Period 03/20/97 62 FR 13356
[[Page 62797]]
Final Action 06/24/98 63 FR 35508
Final Action Effective 07/30/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Additional Information: A related rulemaking was published in the
Federal Register under the RIN 3235-AH01.
Agency Contact: Thomas M. J. Kerwin, Office of Regulatory Policy,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AG62
_______________________________________________________________________
4694. EXEMPTION OF CERTAIN PURCHASE OR SALE TRANSACTIONS BETWEEN AN
INVESTMENT COMPANY AND CERTAIN AFFILIATED PERSONS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-37; 15 USC 80a-6(c)
CFR Citation: 17 CFR 270.17a-7
Legal Deadline: None
Abstract: Rule 17a-7 permits purchase and sale transactions of
portfolio securities among affiliated funds. The staff of the Division
of Investment Management was evaluating whether to recommend that the
Commission propose amendments to refine the conditions under which
exchanges can be made under the rule. The Commission is withdrawing
this item from the Unified Agenda because the Commission does not
expect to consider the item within the next 12 months, but the
Commission may consider the item further at a later date.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
Withdrawn 10/01/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Marilyn Mann, Office of Regulatory Policy, Division of
Investment Management, Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AG57
_______________________________________________________________________
4695. BONDING OF OFFICERS AND EMPLOYEES OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 80a-17(g); 15 USC 80a-6(c); 15 USC 80a-37
CFR Citation: 17 CFR 270.17g-1
Legal Deadline: None
Abstract: The staff of the Division of Investment Management was
considering whether to recommend that the Commission propose amendments
to modernize and clarify the provisions of rule 17g-1, which governs
the bonding of officers and employees of registered management
investment companies. The Commission is withdrawing this item from the
Unified Agenda because the Commission does not expect to consider the
item within the next 12 months, but the Commission may consider the
item further at a later date.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
Withdrawn 10/01/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Penelope W. Saltzman, Office of Regulatory Policy,
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690
RIN: 3235-AG58
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
DIVISION OF MARKET REGULATION
_______________________________________________________________________
4696. AMENDMENTS TO RULES 17A-3 AND 17A-4 UNDER THE SECURITIES EXCHANGE
ACT OF 1934
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
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 78f; 15 USC 78i; 15 USC 78j; ...
CFR Citation: 17 CFR 240 (Revision)
Legal Deadline: None
Abstract: The Commission reproposed for comment amendments to the books
and records rules which will take into consideration the comments
received in response to the proposing release.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 10/28/96 61 FR 55593
NPRM Comment Period End 03/31/97
Reproposed 10/09/98 63 FR 54404
Comment Period End 11/09/98
Final Action 04/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Thomas K. McGowan, Office of Risk Management and
Control, Division of Market Regulation, Securities and Exchange
Commission
Phone: 202 942-0177
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AH04
_______________________________________________________________________
4697. NET CAPITAL RULE: CUSTOMER PROTECTION RULE
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78h; 15 USC 78g
CFR Citation: 12 CFR 220; 17 CFR 240.3a12-11; 17 CFR 240.15c2-5; 17
CFR 240.15c3-1; 17 CFR 240.15c3-3
Legal Deadline: None
[[Page 62798]]
Abstract: The Division is considering recommending that the Commission
propose amendments to Rules 3a12-11, 15c2-5, 15c3-1 and 15c3-3 under
the Exchange Act reflecting changes to section 8 of the Act and to
Regulation T under the Act.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Thomas K. McGowan, Office of Risk Management and
Control, Division of Market Regulation, Securities and Exchange
Commission
Phone: 202 942-0177
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AH05
_______________________________________________________________________
4698. RISK ASSESSMENT RECORDKEEPING AND REPORTING REQUIREMENT
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78a(h)
CFR Citation: 17 CFR 240.17h-1T; 17 CFR 240.17h-2T
Legal Deadline: None
Abstract: The Risk Assessment Recordkeeping and Reporting Requirements,
which became effective September 30, 1992 following notice and comment,
were adopted as temporary rules pursuant to the Market Reform Act of
1990. These rules contain recordkeeping and reporting requirements with
regard to material associated persons of broker-dealers. The Commission
plans to propose final rules replacing the temporary rules during 1999.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Lester Shapiro, Office of Risk Management and Control,
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0757
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AH06
_______________________________________________________________________
4699. EXEMPTION OF CERTAIN FOREIGN BROKERS AND DEALERS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78c; 15 USC 78j; 15 USC 78o; 15 USC 78q; 15
USC 78u
CFR Citation: 17 CFR 240.15a-6
Legal Deadline: None
Abstract: Exchange Act Rule 15a-6, which was adopted to exempt
conditionally foreign broker-dealers from registration in response to
the internationalization of the securities markets, is premised in
large part on the willingness of U.S. broker-dealers to take
responsibility for resulting trades. The Commission is considering
revising the rule to focus instead on the types of securities that are
sold by foreign broker-dealers, to allow institutional customers to
take advantage of the efficiencies of foreign markets.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: David Shillman, Office of the Chief Counsel, Division
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0073
Fax: 202 942-9645
Email: [email protected]
RIN: 3235-AH17
_______________________________________________________________________
4700. PURCHASES OF CERTAIN EQUITY SECURITIES BY THE ISSUER AND
OTHERS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78i(a)(2); 15 USC 78j(b)
CFR Citation: 17 CFR 240.10b-18
Legal Deadline: None
Abstract: In response to a petition for rulemaking filed by the New
York Stock Exchange Inc., the Division is proposing to modify the
timing condition in current Rule 10b-18 to extend the manipulation safe
harbor to issuer bids for and purchase of its common stock: (1) that
are effected either (i) at the reopening of trading and during the last
half-hour prior to the scheduled close of trading during the trading
session immediately following, and on the same day as, a market-wide
trading suspension, or (ii) at the next day's opening, if the market-
wide trading suspension is in effect at the scheduled close of trading;
and (2) that comply with the manner, pricing and volume conditions in
Rule 10b-18.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 10/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Denise Landers, Office of Risk Management and Control,
Securities and Exchange Commission
Phone: 202 942-0137
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AH48
_______________________________________________________________________
4701. UNTIMELY ANNOUNCEMENT OF RECORD DATES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78j; 15 USC 78w
CFR Citation: 17 CFR 240.10b-17
Legal Deadline: None
Abstract: Pursuant to a petition of the NASD, the staff is considering
recommending that the Commission consider amending Exchange Act Rule
10b-17 to clarify that it applies to distributions made to holders of
direct participation program interests.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Barbara Ferrara, Office of Chief Counsel, Division of
[[Page 62799]]
Market Regulation, Securities and Exchange Commission
Phone: 202 942-0073
Fax: 202 942-9645
Email: [email protected]
RIN: 3235-AH38
_______________________________________________________________________
4702. FORM TA-2, FORM TO BE USED BY TRANSFER AGENTS REGISTERED
PURSUANT TO SECTION 17A OF THE SECURITIES EXCHANGE OF 1934 FOR THE
ANNUAL REPORT OF TRANSFER AGENT ACTIVITIES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78g-l
CFR Citation: 17 CFR 240.17Ac2-2; 17 CFR 240.17a-24; 17 CFR 249b.102
Legal Deadline: None
Abstract: As part of the Commission's continuing efforts to improve and
simplify forms and rules, the Commission proposes to amend Form TA-2
and its enabling Rule 17Ac2-2. In addition, the Commission is proposing
to rescind Rule 17a-24 and to amend Rule 17Ac-2 and Form TA-2 to elicit
more comprehensive information on lost securityholders.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 10/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Lori Bucci, Office of Clearance and Settlement,
Division Market Regulation, Securities and Exchange Commission
Phone: 202 942-0742
Fax: 202 942-9695
Email: [email protected]
RIN: 3235-AH44
_______________________________________________________________________
4703. PURCHASES OF CERTAIN EQUITY SECURITIES BY THE ISSUERS AND OTHERS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78b; 15 USC 78c; 15 USC 78i(a)(6); 15 USC
78j(b); 15 USC 78m(e); 15 USC 78o(c); 15 USC 78w(a)
CFR Citation: 17 CFR 240.10b-18
Legal Deadline: None
Abstract: The Commission will be proposing to update Rule 10b-18 to
reflect market development since its adoption. Rule 10b-18 is a safe
harbor from liability under the anti-manipulation provisions of section
9(a)(2) of the Exchange Act and Rule 10b-5 thereunder for issuer
purchases of its common stock made in accordance with the Rule 10b-18
conditions. Rule 10b-18 conditions govern the manner, timing, price and
volume of market purchases made by the issuer.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 01/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Denise Landers, Office of Risk Management and Control,
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0137
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AH37
_______________________________________________________________________
4704. TENDER AND REORGANIZATION AGENTS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78b; 15 USC 78k-1(a)(1)(B); 15 USC 78n(d)(4);
15 USC 78o(c)(3); 15 USC 78o(c)(6); 15 USC 78q-1(a); 15 USC 78q-
1(d)(1); 15 USC 78w(a)
CFR Citation: 17 CFR 240.17Ad-14
Legal Deadline: None
Abstract: The Commission proposed amendments to rule 17Ad-14 under the
Securities Exchange Act of 1934. The amendments would require the
establishment of book-entry accounts in connection with reorganization
events and would provide securities depositories with three business
days after the expiration of a tender offer, exchange offer, or
reorganization event in which to deliver physical securities
certificates.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 09/04/98 63 FR 47209
NPRM Comment Period End 11/03/98
Final Action 06/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Theodore R. Lazo, Office of Risk Management and
Control, Division of Market Regulation, Securities and Exchange
Commission
Phone: 202 942-4187
Fax: 202 942-9643
Email: [email protected]
RIN: 3235-AH53
_______________________________________________________________________
4705. EXEMPTION FROM EXCHANGE ACT SECTION 11(D)(1) FOR
SECURITIES OF FOREIGN ISSUERS SOLD ON AN INSTALLMENT BASIS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78a et seq; 15 USC 78c; 15 USC 78k; 15 USC
78w; 15 USC 78jj
CFR Citation: 17 CFR 240.11d1-3
Legal Deadline: None
Abstract: The proposed rule sets forth a uniform set of conditions
that, if met, would provide an automatic exemption from section
11(d)(1) of the Securities Exchange Act of 1934, for international
offerings of foreign issuers done on an installment basis. The draft
rule would also permit, under certain circumstances, the extension of
credit through installment sales to the public in a non-privatization
offering.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: George Lavdas, Office of the Chief Counsel, Division of
Market Regulation, Securities and Exchange Commission
Phone: 202 942-0073
Fax: 202 942-9645
Email: [email protected]
RIN: 3235-AH58
[[Page 62800]]
_______________________________________________________________________
4706. NET CAPITAL RULE CONCEPT RELEASE
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78o(c)(3); 15 USC 78q; 15 USC 78w
CFR Citation: 17 CFR 240.15c3-1
Legal Deadline: None
Abstract: As part of its comprehensive review of Exchange Act Rule
15c3-1, the net capital rule, the Commission published a concept
release soliciting comments on how the net capital rule may incorporate
statistical models to calculate net capital requirements. This concept
release also solicited comments and ideas on how the net capital rule
could be further modified.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
ANPRM 12/30/97 62 FR 68011
ANPRM Comment Period End 03/30/98
Extension of Comment Period to 05/04/98 63 FR 11173
NPRM 03/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Thomas K. McGowan, Office of Risk Management and
Control, Division of Market Regulation, Securities and Exchange
Commission
Phone: 202 942-0177
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AH29
_______________________________________________________________________
4707. DESTRUCTION OF CANCELLED SECURITIES CERTIFICATES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78q-1
CFR Citation: 17 CFR 240.17Ad-19
Legal Deadline: None
Abstract: The Commission is considering proposing Rule 17Ad-19 to
establish regulations for the destruction of securities certificates
and to require each transfer agent to establish written procedures for
the storage and destruction of cancelled securities certificates.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Thomas C. Etter, Office of Risk Management and Control,
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0178
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AH54
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
DIVISION OF MARKET REGULATION
_______________________________________________________________________
4708. NET CAPITAL REQUIREMENTS FOR BROKERS OR DEALERS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
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 has proposed amendments to Exchange Act Rule
15c3-1, the net capital rule, that could 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.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/02/92 57 FR 57027
Interim Final Rule 12/02/92 57 FR 56973
NPRM Comment Period End 02/05/93
Final Action 04/00/99
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Thomas K. McGowan, Office of Risk Management and
Control, Division of Market Regulation, Securities and Exchange
Commission
Phone: 202 942-0177
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AD79
_______________________________________________________________________
4709. MARKET RISK HAIRCUTS FOR INSTRUMENTS SUBJECT TO INTEREST RATE RISK
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78o(c)(3); 15 USC 78q; 15 USC 78w
CFR Citation: 17 CFR 240.15c3-1
Legal Deadline: None
Abstract: As part of its comprehensive review of Exchange Act Rule
15c3-1, the net capital rule, the Commission proposed for comment an
amendment to the net capital rule revising the percentage deductions
from net worth, and haircuts, applicable to investment rate products
when calculating net capital. Under the proposal, haircuts on
government securities, investment grade corporate securities, certain
mortgage-backed securities, interest rate swaps, and other interest
rate-related derivative instruments would be determined by treating
these instruments as part of a single portfolio.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
ANPRM 05/04/93 58 FR 27486
ANPRM Comment Period End 12/12/93
NPRM 12/30/97 62 FR 67996
NPRM Comment Period End 03/30/98
Extension of Comment Period to 05/04/98 63 FR 11173
Interim Final Rule 04/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Thomas K. McGowan, Office of Risk Management and
Control, Division of Market Regulation, Securities and Exchange
Commission
Phone: 202 942-0177
[[Page 62801]]
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AG18
_______________________________________________________________________
4710. OTC DERIVATIVES DEALERS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77c; 15 USC 77d; 15 USC 77j; 15 USC 77g; 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 78f; 15 USC 78j; 15 USC 78i
CFR Citation: 17 CFR 200.30-3 (Revision); 17 CFR 240.8c-1 (Revision);
17 CFR 240.15b1-1 (Revision); 17 CFR 240.15c2-1 (Revision); 17 CFR
240.15c3-1 (Revision); 17 CFR 240.15c3-3 (Revision); 17 CFR 240.17a-3
(Revision); 17 CFR 240.17a-4 (Revision); 17 CFR 240.17a-11 (Revision);
17 CFR 240.3b-12; 17 CFR 240.3b-13; 17 CFR 240.3b-14; 17 CFR 240.3b-15;
17 CFR 240.3b-16; 17 CFR 240.15a-1; ...
Legal Deadline: None
Abstract: The Commission proposed for comment proposed rules and rule
amendments under the Securities Exchange Act of 1934 that would tailor
capital, margin and other broker-dealer regulatory requirements to a
class of registered dealers called OTC derivatives dealers active in
over-the-counter derivatives markets. Registration as an OTC
derivatives dealer under the proposed rules would be an alternative to
registration as a fully-regulated broker-dealer, and would be available
only to entities acting primarily as counterparties in privately
negotiated over-the-counter derivatives transactions.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/17/97 62 FR 67940
NPRM Comment Period End 03/02/98
Extension of Comment Period to 04/06/98 63 FR 11173
Final Action 10/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Patrice Gliniecki, Office of Chief Counsel, Division of
Market Regulation, Securities and Exchange Commission
Phone: 202 942-0073
Fax: 202 942-9645
Email: [email protected]
RIN: 3235-AH16
_______________________________________________________________________
4711. PROPOSED AMENDMENTS TO TRANSFER AGENT RULES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78q-1
CFR Citation: 17 CFR 240.17Ad-2(a); 17 CFR 240.17Ad-2(c); 17 CFR
240.17Ad-2(e)(1); 17 CFR 240.17Ad-2(e)(2); 17 CFR 240.17Ad-10; 17 CFR
240.17Ad-12
Legal Deadline: None
Abstract: The Commission has proposed amendments to certain transfer
agent rules regarding turnaround time, recordkeeping, and safekeeping
of funds. The proposed amendments to the transfer agent rules are
designed to minimize disruptions, particularly in the National
Clearance and Settlement System for securities, that may be caused by
poor turnaround performance, substandard or inaccurate recordkeeping
practices, and inadequate safekeeping procedures.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/01/94 59 FR 63662
NPRM Comment Period End 02/04/95
Final Action 11/00/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Thomas C. Etter, Office of Risk Management and Control,
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0178
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AG24
_______________________________________________________________________
4712. EXPANDING THE SCOPE OF SELF-REGULATORY ORGANIZATION MATTERS THAT
DO NOT CONSTITUTE PROPOSED RULE CHANGES PURSUANT TO RULE 19B-4
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78a et seq; 15 USC 78s; 15 USC 78mm
CFR Citation: 17 CFR 240.19b-4
Legal Deadline: None
Abstract: The Commission proposed new paragraph (e) of Rule 19b-4 to
expand the scope of SRO matters that do not constitute proposed rule
changes, to include the listing and trading of new derivative
securities products. This proposal is intended to reduce record keeping
and reporting requirements on the SROs by eliminating the requirement
of filing a complete proposed rule change for Commission review prior
to trading a new derivative securities product.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/29/98 63 FR 23584
NPRM Comment Period End 05/29/98
Interim Final Rule 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Marianne H. Duffy, Office of Market Supervision,
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-4163
Fax: 202 942-9695
Email: [email protected]
RIN: 3235-AH39
_______________________________________________________________________
4713. EXEMPTION OF THE SECURITIES OF THE KINGDOM OF BELGIUM
UNDER THE SECURITIES EXCHANGE ACT OF 1934 FOR PURPOSES OF TRADING
FUTURES CONTRACTS ON THOSE SECURITIES
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 77c; 15 USC 77d; 15 USC 77g; 15 USC 77j; 15
USC 77s; 15 USC 77z-2; 15 USC 77eee; 15 USC 77ggg; 15 USC 77nnn; 15 USC
77sss; 15 USC 77ttt; 15 USC 78c; 15 USC 78d; 15 USC 78f; 15 USC 78i;
...
CFR Citation: 17 CFR 240.3a12-8
[[Page 62802]]
Legal Deadline: None
Abstract: The Commission proposed for comment an amendment to Rule
3a12-8 that would designate debt obligations issued by the Kingdom of
Belgium as ``exempted securities'' for the purpose of marketing and
trading of futures contracts on those securities in the United States.
This amendment is intended to permit futures Trading on the sovereign
debt of Belgium.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 06/08/98 63 FR 32628
NPRM Comment Period End 07/15/98
Final Action 11/00/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Joshua Kans, Office of Market Supervision, Division of
Market Regulation, Securities and Exchange Commission
Phone: 202 942-0079
Fax: 202 942-9695
Email: [email protected]
RIN: 3235-AH46
_______________________________________________________________________
4714. PROPOSED AMENDMENTS TO THE INTERMARKET TRADING SYSTEM
(ITS) PLAN TO EXPAND THE ITS/COMPUTER ASSISTED EXECUTION SYSTEM LINKAGE
TO ALL LISTED SECURITIES AND ELIMINATE THE UNANIMOUS VOTE
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78K-1(a)(3)(B)
CFR Citation: None
Legal Deadline: None
Abstract: The Securities and Exchange Commission is proposing
amendments to the Plan governing the operation of the Intermarket
Trading System (ITS Plan) to expand the ITS/Computer Assisted Execution
System (CAES) linkage to all listed securities, including non-Rule 19c-
3 securities. The amendments would also eliminate the requirement that
amendments to the ITS Plan be approved by a unanimous vote of all
participants; instead, a two-thirds supermajority of the participants
would be required for amendments.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/30/98 63 FR 40748
NPRM Comment Period End 08/31/98
Final Action 12/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Christine Richardson, Office of Market Supervision,
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0748
Fax: 202 942-9695
Email: [email protected]
RIN: 3235-AH49
_______________________________________________________________________
4715. PROPOSED AMENDMENTS TO NATIONAL MARKET SYSTEM PLAN
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78k-1(a)(3)
CFR Citation: None
Legal Deadline: None
Abstract: The Commission proposed for public comment on its own
initiative alternative amendments to the plan governing the operation
of the Intermarket Trading System. The proposed amendments provide for
the linkage of the Pacific Exchange Inc. (``PCX'') Application of the
Optimark System to the ITS system, and were prepared by the Pacific
Exchange and the New York Stock Exchange.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/22/98 63 FR 39306
NPRM Comment Period End 08/21/98
Final Action 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Christine Richardson, Office of Market Supervision,
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0748
Fax: 202 942-9695
Email: [email protected]
RIN: 3235-AH51
_______________________________________________________________________
4716. REGULATION OF ALTERNATIVE TRADING SYSTEMS AND NATIONAL SECURITIES
EXCHANGES
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78a et seq; 15 USC 78mm
CFR Citation: Not yet determined
Legal Deadline: None
Abstract: The Commission is considering proposals that would create a
new regulatory framework for alternative trading systems and would
relieve national securities exchanges of certain rule filing
requirements.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/29/98 63 FR 23504
NPRM Comment Period End 07/28/98
Final Rule 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Kevin Ehrlich, Office of Market Supervision, Division
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0778
Fax: 202 942-9643
Email: [email protected]
RIN: 3235-AH41
_______________________________________________________________________
4717. NET CAPITAL REQUIREMENTS FOR BROKERS OR DEALERS--DEFINITION OF THE
TERM NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATION
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78c; 15 USC 78o; 15 USC 78q; 15 USC 78w
CFR Citation: 17 CFR 240.15c3-1
Legal Deadline: None
Abstract: The Commission issued a release proposing amendments to the
net capital rule that would define the term Nationally Recognized
Statistical Rating Organization (NRSRO) for purposes of the net capital
rule and set forth the process for applying for NRSRO designation.
[[Page 62803]]
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/30/97 62 FR 68018
NPRM Comment Period End 03/02/98
Final Action 02/00/99
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Additional Information: Additional Information: This proposal was based
in part on comments received in response to a concept release (RIN
3235-AG41 (RIN 3235-AG41; 59 FR 46314), which is now combined in this
rulemaking.
Agency Contact: Thomas K. McGowan, Office of Risk Management, Division
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0177
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AH28
_______________________________________________________________________
4718. AMENDMENT TO RULE 9B-1 UNDER THE SECURITIES EXCHANGE ACT RELATING
TO THE OPTIONS DISCLOSURE DOCUMENT
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78i; 15 USC 78w
CFR Citation: 17 CFR 240.9b-1
Legal Deadline: None
Abstract: The Commission is proposing to amend Exchange Act Rule 9b-1,
which requires that an Options Disclosure Document (ODD) be sent to a
customer opening an options account. The proposed amendment would
refine certain language of the Rule so that it more clearly reflects
the regulatory standards it was designed to establish. In paragraph
(a)(3) of the Rule, the definition of ``Options Disclosure Document''
will be amended to explicitly state that amendments and supplements to
the ODD are included as part of the ODD. Paragraphs (c)(2) and (c)(3)
will be amended to better reflect the type of information appropriately
included in the ODD. Paragraphs (c)(4) and (c)(7) will be similarly
amended.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/01/98 63 FR 36136
NPRM Comment Period End 07/31/98
Final Action 11/00/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: Undetermined
Agency Contact: Kevin Ehrlich, Office of Market Supervision, Division
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0090
Fax: 202 942-9695
Email: [email protected]
RIN: 3235-AH30
_______________________________________________________________________
4719. REPORTS TO BE MADE BY CERTAIN BROKERS AND DEALERS
Priority: Substantive, Nonsignificant. Major under 5 USC 801.
Legal Authority: 15 USC 80o(c)(3); 15 USC 78w
CFR Citation: 17 CFR 240.17a-5
Legal Deadline: None
Abstract: On July 13, 1998, the Commission adopted a rule that would
require broker-dealers to file with the Commission and their designated
examining authority certain reports regarding their Year 2000 readiness
(63 FR 37688). The Commission reopened the comment period with respect
to its proposal that would have required broker-dealers to engage an
independent public accountant to attest to specific assertions included
in the broker-dealer's report on Year 2000 compliance. The attestation
by independent public accountants was one amendment to Rule 17a-5 under
the Exchange Act proposed by the Commission in Release No. 34-39724
which was published in the Federal Register on March 12, 1998 (63 FR
12056).
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/12/98 63 FR 12056
NPRM Comment Period End 04/29/98
Final Action (Reports) 07/13/98 63 FR 37688
SNPRM (Attestation) 07/13/98 63 FR 37709
SNPRM Comment Period End 08/12/98
Final Action 10/00/98
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Thomas K. McGowan, Office of Risk Management and
Control, Division of Market Regulation, Securities and Exchange
Commission
Phone: 202 942-0177
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AH36
_______________________________________________________________________
4720. INITIATION OR RESUMPTION OF QUOTATIONS WITHOUT SPECIFIED
INFORMATION
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78b; 15 USC 78c; 15 USC 78j(b); 15 USC 78o(q);
15 USC 78q(a); 15 USC 78w(a)
CFR Citation: 17 CFR 240.15c2-11
Legal Deadline: None
Abstract: As part of its efforts to respond to fraud in the microcap
securities market, the Commission proposed for comment amendments to
Rule 15c2-11. These amendments would require broker-dealers to: have
more issuer information before publishing quotations; review updated
information periodically when publishing priced quotations; and make
issuer information more widely available. The amendments also would
expand the issuer's information that a broker-dealer must review for a
non-reporting issuer.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/25/98 63 FR 9661
NPRM Comment Period End 04/27/98
Final Action 11/00/98
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Ilene Halpin, Office of Risk Management and Control,
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0772
Fax: 202 942-9643
Email: [email protected]
RIN: 3235-AH40
[[Page 62804]]
_______________________________________________________________________
4721. YEAR 2000 READINESS REPORTS TO BE MADE BY TRANSFER AGENTS
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 78q-16(i); 15 USC 78w
CFR Citation: 17 CFR 240.17Ad-18
Legal Deadline: None
Abstract: On July 13, 1998, the Commission adopted a rule that would
require non-bank transfer agents to file with the Commission certain
reports regarding their Year 2000 readiness (63 FR 37668). The
Commission reopened the comment period with respect to its proposal
that would have required certain transfer agents to engage an
independent public accountant to attest to specific assertions included
in the transfer agent's report on Year 2000 compliance. The requirement
for an attestation by independent public accountants was part of a
proposal published in the Federal Register on March 12, 1998 (63 FR
12062).
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/12/98 63 FR 12062
NPRM Comment Period End 04/13/98
Final Action (reports) 07/13/98 63 FR 37668
SNPRM (Attestation) 07/13/98 63 FR 37709
SNPRM Comment Period End 08/12/98
Final Action 10/00/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Jeffrey S. Mooney, Office of Risk Management and
Control, Division of Market Regulation, Securities and Exchange
Commission
Phone: 202 942-4174
Fax: 202 942-9643
Email: [email protected]
RIN: 3235-AH42
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Long-Term Actions
DIVISION OF MARKET REGULATION
_______________________________________________________________________
4722. AMENDMENT TO FORM BDW AND AMENDMENT TO EXCHANGE ACT RULE 15B6-1
AND AMENDMENTS TO RULES 15B1-1, 15B3-1, 15BA2-2, 15CA1-1, AND 15CA2-1
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
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; 17 CFR 249; 17 CFR 249.501a
Legal Deadline: None
Abstract: The Commission proposed amendments to Form BDW, the uniform
request for withdrawal from broker-dealer registration under the
Securities Exchange Act. The proposed amendments are designed to
implement recommended changes to the Central Registration Depository
System, a computer system operated by the National Association of
Securities Dealers, Inc. that maintains registration information
regarding registered broker-dealers and their registered personnel for
use by the Commission, the self-regulatory organizations, and state
securities regulators. The amendments include certain clarifying
amendments to Form BDW, including new instructions for filing Form BDW
electronically with the Central Registration Depository. The Commission
also has proposed revisions to rules governing the withdrawal of
broker-dealer registration under the Securities Exchange Act.
Specifically, the revisions would permit broker-dealers that are
withdrawing from registration to consent to an extension of the
effective date of their withdrawal. The proposed revisions also would
permit the Commission to extend the effective date for such periods as
the Commission may determine. In addition, the Division has recommended
revisions to the rules governing the filing of Form BD and Form BDW to
provide for electronic filing of these forms.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/09/96 61 FR 37701
NPRM Comment Period End 08/19/96
Next Action Undetermined
Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses
Government Levels Affected: None
Additional Information: LEGAL AUTHORITY CONTINUED: 15 USC 78m; 15 USC
78n; 15 USC 78o; 15 USC 78p; 15 USC 78q; 15 USC 78s; 15 USC 78w; 15 USC
78x; 15 USC 78ll(d); 15 USC 79g; 15 USC 79t; 15 USC 80a-20; 15 USC 80a-
23; 15 USC 80a-29; 15 USC 80a-37; 15 USC 80b-3; 15 USC 80b-4; 15 USC
80b-11
Agency Contact: Brian R. Baysinger, Office of Chief Counsel, Division
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0073
Fax: 202 942-9645
Email: [email protected]
RIN: 3235-AG69
_______________________________________________________________________
4723. AMENDMENT TO RULE 11AC1-1
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77c; 15 USC 77d; 15 USC 77g; 15 USC 77j; 15
USC 77s; 15 USC 77ggg; 15 USC 77nnn; 15 USC 77sss; 15 USC 77ttt; 15 USC
78c; 15 USC 78d; 15 USC 78f; 15 USC 78i; 15 USC 78j; 15 USC 78k; ...
CFR Citation: 17 CFR 240.11Ac1-1(a)(25)
Legal Deadline: None
Abstract: The Commission proposed amendments to Rule 11Ac1-1 under the
Exchange Act to require both exchange and over-the-counter market
makers to provide continuous two-sided quotations when they account for
more than 1 percent of the aggregate trading volume of a security
included on the NASDAQ Stock Market.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 08/29/96 61 FR 48333
[[Page 62805]]
NPRM Comment Period End 10/29/96
Next Action Undetermined
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Gail Marshall-Smith, Office of Market Supervision,
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-7129
Fax: 202 942-9695
Email: [email protected]
RIN: 3235-AH00
_______________________________________________________________________
4724. LARGE TRADER REPORTING SYSTEM
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 77c to 77d; 15 USC 77s; 15 USC 77ttt; 15 USC
78c to 78d; 15 USC 78i to 78j; 15 USC 78l to 78p; 15 USC 78s; 15 USC
78w; 15 USC 78x; 15 USC 79q; 15 USC 79t; 15 USC 80a-29; 15 USC 80a-37
CFR Citation: 17 CFR 240.13h-1
Legal Deadline: None
Abstract: The Commission has published for comment reproposed Exchange
Act Rule 13h-1, which 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
Next Action Undetermined
Regulatory Flexibility Analysis Required: No
Government Levels Affected: Undetermined
Agency Contact: Alton Harvey, Office of Market Supervision, Division of
Market Regulation, Securities and Exchange Commission
Phone: 202 942-4167
Fax: 202 942-9697
Email: [email protected]
RIN: 3235-AE42
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
DIVISION OF MARKET REGULATION
_______________________________________________________________________
4725. NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATIONS
Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is
undetermined.
Legal Authority: 15 USC 78o
CFR Citation: 17 CFR 240.15c3-1
Legal Deadline: None
Abstract: This concept release will be combined with the resulting
proposed rulemaking of RIN 3235-AH28.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
ANPRM 08/31/94 59 FR 46314
ANPRM Comment Period End 12/06/94
NPRM 12/30/97 62 FR 68018
NPRM Comment Period End 03/02/98
Final Action 10/01/98
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Additional Information: The Commission issued a release proposing
amendments to the net capital rule that would define the term
Nationally Recognized Statistical Rating Organization (NRSRO) for
purposes of the net capital rule and set forth the process for applying
for NRSRO designation. See RIN 3235-AH28. This release was based in
part on comments received in response to the concept release.
Agency Contact: Thomas K. McGowan, Office of Risk Management and
Control, Division of Market Regulation, Securities and Exchange
Commission
Phone: 202 942-0177
Fax: 202 942-9553
Email: [email protected]
RIN: 3235-AG41
_______________________________________________________________________
4726. DEFINITIONS OF ``SMALL BUSINESS'' OR ``SMALL ORGANIZATION'' UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 77c; 15 USC 77d; 15 USC 77g; 15 USC 77j; 15
USC 75s; 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 240.0-10
Legal Deadline: None
Abstract: The Commission amended the definitions of the terms ``small
business'' and ``small organization'' contained in Rule 0-10 under the
Securities Exchange Act of 1934.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 01/28/97 62 FR 4106
Extension of Comment Period 03/20/97 62 FR 13356
NPRM Comment Period End 04/30/97
Final Action 06/30/98 63 FR 35508
Final Action Effective 07/30/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Glenn J. Jessee, Office of Chief Counsel, Division of
Market Regulation, Securities and Exchange Commission
Phone: 202 942-0073
Fax: 202 942-9645
Email: [email protected]
RIN: 3235-AH01
[[Page 62806]]
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
OFFICES AND OTHER PROGRAMS
_______________________________________________________________________
4727. PROPOSED AMENDMENT TO RULE 102(E) OF THE COMMISSION'S
RULES OF PRACTICE
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 77s; 15 USC 78w; 15 USC 79t; 15 USC 77sss; 15
USC 80b-11; 15 USC 80a-37
CFR Citation: 17 CFR 201.102(e)(1)
Legal Deadline: None
Abstract: The Securities and Exchange Commission adopted an amendment
to Rule 102(e), The Commission can censure, suspend or bar persons who
appear or practice before it. The amendment clarifies the Commission's
standard for determining when accountants engage in ``improper
professional conduct'' under Rule 102(e)(1)(ii).
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/21/98 63 FR 39054
NPRM Comment Period End 08/20/98
Final Action 10/26/98 63 FR 57164
Final Action Effective 11/25/98
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Michael J. Kigin, Associate Chief Accountant,
Securities and Exchange Commission
Phone: 202 942-4400
RIN: 3235-AH47
[FR Doc. 98-23927 Filed 11-06-98; 8:45 am]
BILLING CODE 8010-01-F