[ 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