[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 22401]]



_______________________________________________________________________


Part LXIV



Securities and Exchange Commission



_______________________________________________________________________

Semiannual Regulatory Agenda

[[Page 22402]]



SECURITIES AND EXCHANGE COMMISSION (SEC)                               




_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION

17 CFR Ch. II

[Release Nos. 33-7648, 34-41117, 35-26980, 39-2372, IC-23719, IA-1790, 
File No. S7-6-99]

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 February 25, 1999, 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 June 1, 1999.

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. S7-6-99 
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.

    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: February 26, 1999.

    By the Commission.

Margaret H. McFarland,

Deputy Secretary.

                                 DIVISION OF CORPORATION FINANCE--Prerule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4436         International Accounting Standards...................................................    3235-AH65
----------------------------------------------------------------------------------------------------------------


                              DIVISION OF CORPORATION FINANCE--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4437         Asset-Backed Securities Disclosure...................................................    3235-AF74
4438         Definitions for Purposes of the Private Litigation Reform Act of 1995................    3235-AG89
4439         Definition of ``Qualified Purchaser''................................................    3235-AH15
4440         Householding of Proxy and Information Statements.....................................    3235-AH66
----------------------------------------------------------------------------------------------------------------


                                DIVISION OF CORPORATION FINANCE--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4441         Regulation of Securities Offerings...................................................    3235-AG83
4442         Streamlining Rule 144................................................................    3235-AH13
4443         Financial Statements and Periodic Reports for Related Issuer Guarantors..............    3235-AH52
4444         Regulation of Extraordinary Corporate Transactions...................................    3235-AG84
4445         Addressing Abuses of Form S-8 by Companies Using Consultants To Raise Capital........    3235-AG94
4446         Revisions to Rules Governing Options Disclosure Document.............................    3235-AH31

[[Page 22403]]

 
4447         Exemptions for International Tender and Exchange Offers..............................    3235-AD97
4448         International Disclosure Standards...................................................    3235-AH62
----------------------------------------------------------------------------------------------------------------


                               DIVISION OF CORPORATION FINANCE--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4449         Rule 504 of Regulation D.............................................................    3235-AH35
4450         Conforming Segment Reporting With Generally Accepted Accounting Principles...........    3235-AH43
4451         Delayed Pricing for Companies Not Eligible for Form S-3..............................    3235-AG86
4452         Increase in Dollar Amounts in Rule 701, the Exemption for Offers and Sales by Certain    3235-AH21
            Compensatory Benefit Plans............................................................
----------------------------------------------------------------------------------------------------------------


                             DIVISION OF INVESTMENT MANAGEMENT--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4453         Form ADV Uniform Application for Investment Adviser Registration.....................    3235-AD21
4454         Books and Records To Be Maintained by Investment Advisers............................    3235-AH24
4455         Custody or Possession of Funds or Securities of Clients..............................    3235-AH26
4456         Form ADV-W Notice of Withdrawal From Registration as Investment Adviser..............    3235-AH27
4457         Principal Transactions With Investment Advisory Clients..............................    3235-AH34
4458         Certain Investment Company Directors not Considered Interested Persons Because of        3235-AH63
            Ownership of Index Fund Securities....................................................
4459         Political Contributions by Investment Advisers.......................................    3235-AH64
4460         Shareholder Report and Financial Statement Revisions.................................    3235-AG64
4461         Exemption for Subsidiaries Organized To Finance Operations of Domestic or Foreign        3235-AE95
            Companies; Certain Prima Facie Investment Companies...................................
4462         Deposits of Securities in Securities Depositories....................................    3235-AG71
4463         Proposed Amendments in Investment Company Advertising Rules..........................    3235-AH19
4464         Reports of Significant Events........................................................    3235-AH50
4465         Acquisition by Investment Company of Interest in Repurchase Agreement or Refunded        3235-AH56
            Security To Be Treated as Acquisition of Underlying Securities........................
4466         Exemption for the Acquisition of Securities During the Existence of an Underwriting      3235-AH57
            Syndicate.............................................................................
4467         Amendments To Form N-SAR, Semiannual Report of Registered Investment Companies.......    3235-AF93
4468         Amendments to the Cash Solicitation Rule.............................................    3235-AH33
----------------------------------------------------------------------------------------------------------------


                               DIVISION OF INVESTMENT MANAGEMENT--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4469         Temporary Exemption for Certain Investment Advisers..................................    3235-AH02
4470         Investment Company Names.............................................................    3235-AH11
4471         Requirements Relating to Codes of Ethics With Respect to Registered Investment           3235-AG27
            Companies; Records To Be Maintained by Investment Advisers............................
4472         Delivery of Disclosure Documents to Households.......................................    3235-AG98
4473         Transactions in Certain Canadian Retirement Plans....................................    3235-AH32
4474         EDGAR System (Modernization).........................................................    3235-AH70
4475         Amendments to Rule 8f-1 and Deregistration Form N-8F, and Rule 101 of Regulation S-T.    3235-AG29
4476         Insurance Products: New Form N-6 for Registration of Separate Accounts Offering          3235-AG37
            Variable Life Insurance Contracts.....................................................
4477         PUHCA: Exemption for Certain Acquisitions of Foreign Utility Companies...............    3235-AF78

[[Page 22404]]

 
4478         Status of Subsidiary Companies Formed To Hold Interests in Foreign Utility Companies.    3235-AF79
----------------------------------------------------------------------------------------------------------------


                              DIVISION OF INVESTMENT MANAGEMENT--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4479         Custody of Investment Company Assets Outside the United States.......................    3235-AH55
4480         Insurance Products: Equity Index Insurance Products Concept Release..................    3235-AH23
----------------------------------------------------------------------------------------------------------------


                              DIVISION OF INVESTMENT MANAGEMENT--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4481         Electronic Filing of Institutional Investment Manager Reports on Form 13F............    3235-AG97
4482         Technical Amendments Under the Investment Advisers Act of 1940.......................    3235-AH59
4483         Transition Rule for Ohio Investment Advisers.........................................    3235-AH60
4484         Unit Investment Trusts: Simplification of Registration Statements....................    3235-AA47
4485         Performance Advertising by Unit Investment Trusts....................................    3235-AG63
4486         Mergers of Certain Affiliated Investment Companies...................................    3235-AG31
----------------------------------------------------------------------------------------------------------------


                               DIVISION OF MARKET REGULATION--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4487         Net Capital Rule: Customer Protection Rule...........................................    3235-AH05
4488         Risk Assessment Recordkeeping and Reporting Requirement..............................    3235-AH06
4489         Exemption of Certain Foreign Brokers and Dealers.....................................    3235-AH17
4490         Untimely Announcement of Record Dates................................................    3235-AH38
4491         Form TA-2, Form To Be Used by Transfer Agents Registered Pursuant to Section 17A of      3235-AH44
            the Securities Exchange Act of 1934 for the Annual Report of Transfer Agent Activities
4492         Operational Capability Required of Registered Broker-Dealers and Transfer Agents.....    3235-AH61
4493         Purchases of Certain Equity Securities by the Issuers and Others.....................    3235-AH37
4494         Exemption From Exchange Act Section 11(d)(1) for Securities of Foreign Issuers Sold      3235-AH58
            on an Installment Basis...............................................................
4495         Net Capital Rule Concept Release.....................................................    3235-AH29
4496         Initiation or Resumption of Quotations Without Specified Information.................    3235-AH40
4497         Destruction of Cancelled Securities Certificates.....................................    3235-AH54
----------------------------------------------------------------------------------------------------------------


                                 DIVISION OF MARKET REGULATION--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4498         Net Capital Requirements for Brokers or Dealers......................................    3235-AD79
4499         Market Risk Haircuts for Instruments Subject to Interest Rate Risk...................    3235-AG18
4500         Amendment to Form BDW and Amendment to Exchange Act Rule 15b6-1 and Amendments to        3235-AG69
            Rules 15b1-1, 15b3-1, 15Ba2-2, 15Ca1-1, and 15Ca2-1...................................
4501         Amendments to Rules 17a-3 and 17a-4 Under the Securities Exchange Act of 1934........    3235-AH04
4502         Purchases of Certain Equity Securities by the Issuer and Others......................    3235-AH48
4503         Proposed Amendments to Transfer Agent Rules..........................................    3235-AG24
4504         Proposed Amendments to the Intermarket Trading System (ITS) Plan To Expand the ITS/      3235-AH49
            Computer Assisted Execution System Linkage to All Listed Securities and Eliminate the
            Unanimous Vote........................................................................
4505         Proposed Amendments to National Market System Plan...................................    3235-AH51

[[Page 22405]]

 
4506         Exemption of the Securities of the Kingdom of Sweden Under the Securities Exchange       3235-AH68
            Act of 1934 for Purposes of Trading Futures Contracts on Those Securities.............
4507         Tender and Reorganization Agents.....................................................    3235-AH53
4508         Net Capital Requirements for Brokers or Dealers--Definition of the Term Nationally       3235-AH28
            Recognized Statistical Rating Organization............................................
4509         Amendment to Rule 9b-1 Under the Securities Exchange Act Relating to the Options         3235-AH30
            Disclosure Document...................................................................
----------------------------------------------------------------------------------------------------------------


                                DIVISION OF MARKET REGULATION--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4510         Amendment to Rule 11Ac1-1............................................................    3235-AH00
4511         Automated Submission of Trading Data by Certain Exchange Members, Brokers, and           3235-AH69
            Dealers Under the Securities Exchange Act of 1934.....................................
4512         Large Trader Reporting System........................................................    3235-AE42
----------------------------------------------------------------------------------------------------------------


                                DIVISION OF MARKET REGULATION--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4513         OTC Derivatives Dealers..............................................................    3235-AH16
4514         Amendment to Rule Filing Requirements for Self-Regulatory Organizations Regarding New    3235-AH39
            Derivative Securities Products........................................................
4515         Exemption of the Securities of the Kingdom of Belgium Under the Securities Exchange      3235-AH46
            Act of 1934 for Purposes of Trading Futures Contracts on Those Securities.............
4516         Regulation of Alternative Trading Systems and National Securities Exchanges..........    3235-AH41
4517         Reports To Be Made by Certain Brokers and Dealers....................................    3235-AH36
4518         Year 2000 Readiness Reports To Be Made by Transfer Agents............................    3235-AH42
----------------------------------------------------------------------------------------------------------------


                                 OFFICES AND OTHER PROGRAMS--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4519         Amendments to the Freedom of Information Act, Privacy Act, and Confidential Treatment    3235-AH71
            Rules.................................................................................
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage


DIVISION OF CORPORATION FINANCE



_______________________________________________________________________




4436.  INTERNATIONAL ACCOUNTING STANDARDS

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 part 210; 17 CFR 249.220f

Legal Deadline: None

Abstract: The Division is considering recommending that the Commission 
publish a release that would solicit comment on whether the Commission 
should recognize accounting standards promulgated by the International 
Accounting Standards Committee for purposes of cross-border offerings 
and listings by foreign companies.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           05/00/99

Regulatory Flexibility Analysis Required: Undetermined
Small Entities Affected: No

Government Levels Affected: Undetermined

[[Page 22406]]

Agency Contact: David Sirignano, Division of Corporation Finance, 
Securities and Exchange Commission
Phone: 202 942-2870
Fax: 202 942-9624

RIN: 3235-AH65
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage


DIVISION OF CORPORATION FINANCE



_______________________________________________________________________




4437. 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                            06/00/99

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
_______________________________________________________________________




4438. 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                            08/00/99

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
_______________________________________________________________________




4439. 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                            06/00/99

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
_______________________________________________________________________




4440.  HOUSEHOLDING OF PROXY AND INFORMATION STATEMENTS

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority:  15 USC 78n

CFR Citation:  17 CFR 240.14a-3; 17 CFR 240.14c-3

Legal Deadline: None

Abstract: The Division is considering recommending that the Commission 
propose revisions to the proxy rules to permit companies, brokers, 
banks and similar intermediaries to deliver a single copy of proxy or 
information statements to more than one investor if they share the same 
address.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Elizabeth Murphy, Office of Chief Counsel, Division of 
Corporation Finance, Securities and Exchange Commission
Phone: 202 942-2900
Fax: 202 942-9525

RIN: 3235-AH66

[[Page 22407]]

_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage


DIVISION OF CORPORATION FINANCE



_______________________________________________________________________




4441. REGULATION OF SECURITIES OFFERINGS

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 Commission has proposed rules that would reform the 
registration process under the Securities Act and alter certain 
requirements in the periodic reporting process under the Exchange Act. 
The proposed rules cover, among other topics, prospectus delivery 
requirements, communications around the time of an offering and the 
integration of public and private offerings.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Notice With Request for Comments07/31/96                    61 FR 40044
Notice Comment Period End       09/30/96
NPRM                            12/04/98                    63 FR 67174
NPRM Comment Period End         04/05/99
Final Action                    03/00/00

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
_______________________________________________________________________




4442. 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                    12/00/99

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
_______________________________________________________________________




4443. 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 Commission proposed 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                            03/05/99                    64 FR 10579
NPRM Comment Period End         05/04/99
Final Action                    12/00/99

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
_______________________________________________________________________




4444. 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 Commission proposed 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. The Commission also 
proposed changes to shareholder communications rules to facilitate 
communications to and among securityholders.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/04/98                    63 FR 67331
NPRM Comment Period End         04/05/99
Final Action                    03/00/00

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

Government Levels Affected: Undetermined

Agency Contact: James J. Moloney, Division of Corporation Finance, 
Securities and Exchange Commission
Phone: 202 942-2920
Fax: 202 942-9638

RIN: 3235-AG84
_______________________________________________________________________




4445. 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 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 239.16b; 17 CFR 228.402; 17 CFR 229.402; 17 CFR 
230.101; 17 CFR 230.405; 17 CFR 239.13

Legal Deadline: None

Abstract: The Commission adopted rules to address abuses of Form S-8 by

[[Page 22408]]

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 Rule                      03/08/99                    64 FR 11103
Second NPRM                     03/08/99                    64 FR 11118
Final Rule Effective            04/07/99                    64 FR 11103
Second NPRM Comment Period End  05/07/99                    64 FR 11118
Final Action                    12/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Additional Information: The Commission also proposed new registrant 
eligibility requirements for the use of Form S-8, for registration of 
securities issued to employees and consultants for compensatory 
purposes. The amendments are intended to address certain abuses of Form 
S-8, in furtherance of the Commission's comprehensive agenda to deter 
registration and trading abuses, particularly by microcap companies.

Agency Contact: Anne Krauskopf, Division of Corporation Finance, 
Securities and Exchange Commission
Phone: 202 942-2900
Fax: 202 942-9525

RIN: 3235-AG94
_______________________________________________________________________




4446. 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
NPRM Comment Period End         07/31/98
Final Action                    06/00/99

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
_______________________________________________________________________




4447. 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 Commission reproposed amendments to facilitate the 
extension of international tender offers, rights offers and business 
combinations to U.S. holders. The proposed rules would provide 
exemptions from the tender offer rules, securities registration 
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
Reproposal                      12/15/98                    63 FR 69136
NPRM Comment Period End         02/16/99
Final Action                    12/00/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

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
_______________________________________________________________________




4448.  INTERNATIONAL DISCLOSURE STANDARDS

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Unfunded Mandates: This action may affect the private sector under       
    PL 104-4.

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

CFR Citation:  17 CFR part 210; 17 CFR 230.405; 17 CFR 240.36-4; 17 CFR 
249.220f

Legal Deadline: None

Abstract: The Commission proposed revisions to the disclosure 
requirements for foreign private issuers to conform to the 
international disclosure standards endorsed by the International 
Organization of Securities Commissions in September 1998. The proposals 
also would change the definition of ``foreign private issuer'' to give 
clearer guidance on how foreign companies should determine whether 
their shareholders are U.S. residents.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/09/99                     64 FR 6267
NPRM Comment Period End         04/12/99
Final Action                    12/00/99

Regulatory Flexibility Analysis Required: No
Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Sandra Folsom Kinsey, Division of Corporation Finance, 
Securities and Exchange Commission
Phone: 202 942-2990
Fax: 202 942-9624

RIN: 3235-AH62

[[Page 22409]]

_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions


DIVISION OF CORPORATION FINANCE



_______________________________________________________________________




4449. RULE 504 OF REGULATION D

Priority:  Substantive, Nonsignificant

Legal Authority:  15 USC 77a et seq

CFR Citation:  17 CFR 230.504

Legal Deadline: None

Abstract: The Commission adopted 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                    03/08/99                    64 FR 11090
Final Action Effective          04/07/99

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
_______________________________________________________________________




4450. CONFORMING SEGMENT REPORTING WITH GENERALLY ACCEPTED ACCOUNTING 
PRINCIPLES

Priority:  Substantive, Nonsignificant

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 adopted 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                    01/12/99                     64 FR 1728
Final Action Effective          02/11/99

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
_______________________________________________________________________




4451. 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 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 some subsequent point.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/20/97                     62 FR 9276
NPRM Comment Period End         04/29/97
Withdrawn                       04/01/99

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
_______________________________________________________________________




4452. INCREASE IN DOLLAR AMOUNTS IN RULE 701, THE EXEMPTION FOR OFFERS 
AND SALES BY CERTAIN COMPENSATORY BENEFIT PLANS

Priority:  Substantive, Nonsignificant

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

CFR Citation:  17 CFR 230.701

Legal Deadline: None

Abstract: The Commission adopted 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                    03/08/99                    64 FR 11095
Final Action Effective          04/07/99

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

[[Page 22410]]

_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage


DIVISION OF INVESTMENT MANAGEMENT



_______________________________________________________________________




4453. 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                            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-AD21
_______________________________________________________________________




4454. 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                            09/00/99

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
_______________________________________________________________________




4455. 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
_______________________________________________________________________




4456. 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
_______________________________________________________________________




4457. 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


_______________________________________________________________________



[[Page 22411]]

4458.  CERTAIN INVESTMENT COMPANY DIRECTORS NOT CONSIDERED 
INTERESTED PERSONS BECAUSE OF OWNERSHIP OF INDEX FUND SECURITIES

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

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

CFR Citation:  17 CFR 270.2a19-3

Legal Deadline: None

Abstract: The staff of the Division of Investment Management is 
considering recommending to the Commission a new rule to exempt from 
the definition of ``interested person'' under section 2(a)(19) of the 
Investment Company Act of 1940, certain investment company directors 
who have direct or indirect beneficial interests in the investment 
company, its investment adviser, or principal underwriter through 
ownership of an index fund.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Robin Gross Lehv, Division of Investment Management, 
Securities and Exchange Commission
Phone: 202 942-0640

RIN: 3235-AH63
_______________________________________________________________________




4459.  POLITICAL CONTRIBUTIONS BY INVESTMENT ADVISERS

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority:  15 USC 80b-6(4); 15 USC 80b-4; 15 USC 80b-11(a)

CFR Citation:  17 CFR 275

Legal Deadline: None

Abstract: The staff of the Division of Investment Management is 
considering recommending that the Commission propose a rule restricting 
an investment adviser's ability to provide advisory services to public 
pension funds after the adviser makes a contribution to a political 
official who may influence the selection of the adviser.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: State, Local, Federal

Agency Contact: Jennifer Choi, Division of Investment Management, 
Securities and Exchange Commission
Phone: 202 942-0523

RIN: 3235-AH64
_______________________________________________________________________




4460. 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                            08/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Jennifer Choi, Office of Disclosure Regulation, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0721

RIN: 3235-AG64
_______________________________________________________________________




4461. 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                            08/00/99

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: 202 942-0690

RIN: 3235-AE95
_______________________________________________________________________




4462. 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                            08/00/99

[[Page 22412]]

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-AG71
_______________________________________________________________________




4463. 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                            06/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Heather A. Seidel, Division of Investment Management, 
Securities and Exchange Commission
Phone: 202 942-0686

RIN: 3235-AH19
_______________________________________________________________________




4464. 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
_______________________________________________________________________




4465. 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                            06/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Thomas M. J. Kerwin, Office of Regulatory Policy, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690

RIN: 3235-AH56
_______________________________________________________________________




4466. 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 purchase government securities from a non-affiliated 
underwriter in syndicates involving an underwriter affiliated with the 
investment company's investment adviser.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/99

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: 202 942-0690

RIN: 3235-AH57
_______________________________________________________________________




4467. 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

[[Page 22413]]

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                            08/00/99

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
_______________________________________________________________________




4468. 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                            09/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Arthur B. Laby, Task Force on Investment Adviser 
Regulation, Division of Investment Management, Securities and Exchange 
Commission
Phone: 202 942-0523

RIN: 3235-AH33
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage


DIVISION OF INVESTMENT MANAGEMENT



_______________________________________________________________________




4469. 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                    06/00/99

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
_______________________________________________________________________




4470. 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                    05/00/99

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
_______________________________________________________________________




4471. 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

[[Page 22414]]

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                    05/00/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Penelope Saltzman, Office of Regulatory Policy, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690

RIN: 3235-AG27
_______________________________________________________________________




4472. 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                    05/00/99

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
_______________________________________________________________________




4473. 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; 15 USC 78o et 
seq

CFR Citation:  Not yet determined

Legal Deadline: None

Abstract: The Commission proposed for public comment two new rules and 
rule amendments that would provide exemptions from the registration 
requirements of the Securities Act, the Investment Company Act, and the 
Exchange Act for the offer and sale of securities of foreign issuers to 
certain Canadian retirement plans, such as Registered Retirement 
Savings Plans, Registered Retirement Income Funds, or similar plans.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/26/99                    64 FR 14648
NPRM Comment Period End         05/28/99
Final Action                    10/00/99

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
_______________________________________________________________________




4474.  EDGAR SYSTEM (MODERNIZATION)

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority:  15 USC 77f, 77g, 77h, 77j, and 77s(a); 15 USC 78c, 
78l, 78m, 78n, 78o(d), 78w(a), and 78ll; 15 USC 77sss; 15 USC 79c, 79e, 
79f, 79g, 79j, 79l, 79m, 79n, 79q, and 79t; 15 USC 80a-8, 80a-29, 80a-
30, and 80a-37

CFR Citation:  17 CFR 230.485 to 230.487; 17 CFR 230.495; 17 CFR 
230.497; 17 CFR 232.10 to 232.11; 17 CFR 232.101 to 232.102; 17 CFR 
232.104 to 232.106; 17 CFR 232.302 to 232.307; 17 CFR 232.310; 17 CFR 
239.14 to 239.17b; 17 CFR 240.14a-101; 17 CFR 270.8b-23; 17 CFR 270.8b-
32; 17 CFR 270.101; 17 CFR 274.5; 17 CFR 274.11 to 274.11c; ...

Legal Deadline: None

Abstract: The Commission is modernizing the Electronic Data Gathering, 
Analysis, and Retrieval (EDGAR) system. When the programming for the 
new system is accomplished, the EDGAR system will be able to accept 
filings in Hypertext Markup Language as well as documents submitted in 
the American Standard Code for Information Interchange format. Filers 
will have the option of accompanying their required filings with 
unofficial copies in Portable Document Format. The proposed new rules 
and amendments to existing rules would reflect changes to filing 
requirements resulting from EDGAR modernization, as well as certain 
other changes to clarify or update the rules. There will be subsequent 
rulemaking in connection with the completion of EDGAR modernization.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/16/99                    64 FR 12908
NPRM Comment Period End         04/15/99
Final Action                    04/00/99

Regulatory Flexibility Analysis Required: No
Small Entities Affected: Businesses

Government Levels Affected: Undetermined

Agency Contact: Ruth Armfield Sanders, Division of Investment 
Management, Securities and Exchange Commission

[[Page 22415]]

Phone: 202 942-0633

RIN: 3235-AH70
_______________________________________________________________________




4475. 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 Commission proposed amendments to Form N-8F and rule 8f-1 
under the Investment Company Act of 1940, the form and rule that govern 
the deregistration of certain investment companies. The proposed 
amendments are designed to simplify and reorganize Form N-8F and would 
expand the circumstances in which investment companies may use the 
form. The release also contains proposed amendments to Regulation S-T 
to require that investment companies file Form N-8F on the Commission's 
Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/16/98                    63 FR 69236
NPRM Comment Period End         02/05/99
Final Action                    07/00/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

Government Levels Affected: Undetermined

Agency Contact: Robin Gross Lehv, Office of Regulatory Policy, Division 
of Investment Management, Securities and Exchange Commission
Phone: 202 942-0640

RIN: 3235-AG29
_______________________________________________________________________




4476. 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                    07/00/99

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
_______________________________________________________________________




4477. 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                    06/00/99

Regulatory Flexibility Analysis Required: No
Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Harry Eisenstein, Office of Public Utility Regulation, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0552

RIN: 3235-AF78
_______________________________________________________________________




4478. 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                    06/00/99

Regulatory Flexibility Analysis Required: No
Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Harry Eisenstein, Office of Public Utility Regulation, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0552

RIN: 3235-AF79

[[Page 22416]]

_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Long-Term Actions


DIVISION OF INVESTMENT MANAGEMENT



_______________________________________________________________________




4479. 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 
Commission had adopted amendments to this rule under RIN No. 3235-AE98 
in May 1997, but has extended the effectiveness date of those changes 
pending this staff review. The Division of Investment Management is 
considering whether to recommend that the Commission propose amendments 
to the rule.

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Thomas M. J. Kerwin, Office of Regulatory Policy, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690

RIN: 3235-AH55
_______________________________________________________________________




4480. 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

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



_______________________________________________________________________




4481. ELECTRONIC FILING OF INSTITUTIONAL INVESTMENT MANAGER REPORTS ON 
FORM 13F

Priority:  Substantive, Nonsignificant

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 adopted a rule making electronic filing of 
Form 13F reports mandatory instead of optional. It also eliminates both 
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                    01/19/99                     64 FR 2843
Final Action Effective          02/18/99

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
_______________________________________________________________________




4482.  TECHNICAL AMENDMENTS UNDER THE INVESTMENT ADVISERS ACT OF 
1940

Priority:  Substantive, Nonsignificant

Legal Authority:  15 USC 80b-11(a)

CFR Citation:  17 CFR 275.202(a)(1)-1; 17 CFR 275.204-1

Legal Deadline: None

Abstract: On January 7, 1999, the Commission adopted technical 
corrections to rules 202(a)(1)-1 and 204-1, both under the Investment 
Adviser Act of 1940.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    01/07/99                     64 FR 2566
Final Action Effective          01/15/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Jeffrey O. Himstreet, Division of Investment 
Management, Securities and Exchange Commission
Phone: 202 942-0533

RIN: 3235-AH59
_______________________________________________________________________




4483.  TRANSITION RULE FOR OHIO INVESTMENT ADVISERS

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority:  15 USC 80b-3(h); 15 USC 80b-11(a); 15 USC 80b-
3(c)(1); 15 USC 80b-4

CFR Citation:  17 CFR 275

Legal Deadline:  Other, Statutory, March 18, 1999.
Rule must be adopted by the effective date of the Ohio statute, which 
will be 03/18/99.

Abstract: The Commission has adopted a rule that would create a 
transition

[[Page 22417]]

process for Ohio investment advisers to switch from Commission 
registration to Ohio registration.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/05/99                     64 FR 5722
NPRM Comment Period End         03/08/99
Final Action                    04/01/99                    64 FR 15680
Final Action (Rule) Effective   05/03/99
Final Action (Form Amendment) 
Effective                       12/31/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Jeffrey O. Himstreet, Division of Investment 
Management, Securities and Exchange Commission
Phone: 202 942-0533

RIN: 3235-AH60
_______________________________________________________________________




4484. 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; 17 CFR 230.482; 17 CFR 
270.34b-1

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
Withdrawn                       04/01/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

Government Levels Affected: Federal

Additional Information: 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.

Agency Contact: Jennifer Choi, Office of Disclosure Regulation, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0721

RIN: 3235-AA47
_______________________________________________________________________




4485. 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
Withdrawn                       04/01/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

Government Levels Affected: Federal

Additional Information: 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.

Agency Contact: Jennifer Choi, Office of Disclosure Regulation, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0721

RIN: 3235-AG63
_______________________________________________________________________




4486. 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:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Withdrawn                       04/01/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

[[Page 22418]]

Additional Information: The Commission is withdrawing this item from 
the Unified Agenda because the Commission does not expect to consider 
this item within the next 12 months, but the Commission may consider 
the item further at a later date.

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
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage


DIVISION OF MARKET REGULATION



_______________________________________________________________________




4487. 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

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                            05/00/99

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
_______________________________________________________________________




4488. 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                            10/00/99

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
_______________________________________________________________________




4489. 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                            12/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Barbara Stettner, Office of the Chief Counsel, Division 
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0146
Fax: 202 942-9645
Email: [email protected]

RIN: 3235-AH17
_______________________________________________________________________




4490. 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                            06/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Barbara Ferrara, Office of Chief Counsel, Division of 
Market Regulation, Securities and Exchange Commission
Phone: 202 942-0073

[[Page 22419]]

Fax: 202 942-9645
Email: [email protected]

RIN: 3235-AH38
_______________________________________________________________________




4491. FORM TA-2, FORM TO BE USED BY TRANSFER AGENTS REGISTERED PURSUANT 
TO SECTION 17A OF THE SECURITIES EXCHANGE ACT 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 plans to propose to amend Form 
TA-2 and Rule 17Ac2-2. In addition, the Commission is planning 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                            06/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Lori Bucci, Office of Risk Management and Control, 
Division Market Regulation, Securities and Exchange Commission
Phone: 202 942-0742
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH44
_______________________________________________________________________




4492.  OPERATIONAL CAPABILITY REQUIRED OF REGISTERED BROKER-
DEALERS AND TRANSFER AGENTS

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

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

CFR Citation:  17 CFR 240.15b7-3T; 17 CFR 240.17a-9T; 17 CFR 240.17Ad-
21T; 17 CFR 240.15b7-2; 15 CFR 240.17Ad-20

Legal Deadline: None

Abstract: The Commission proposed rules that are intended to protect 
investors and the securities markets by reducing the potential systemic 
risk as a result of operational failures in general, and in particular, 
computer system failure related to the Year 2000, at registered broker-
dealers and non-bank transfer agents.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/11/99                    64 FR 12127
NPRM Comment Period End         04/12/99

Regulatory Flexibility Analysis Required: Undetermined
Small Entities Affected: Businesses

Government Levels Affected: Undetermined

Agency Contact: Lori Bucci, Office of Risk Management and Control, 
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0742
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH61
_______________________________________________________________________




4493. 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                            06/00/99

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
_______________________________________________________________________




4494. 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                            06/00/99

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
_______________________________________________________________________




4495. 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

[[Page 22420]]

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                            05/00/99

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
_______________________________________________________________________




4496. 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 will repropose for comment amendments 
to Rule 15c2-11. These amendments would require broker-dealers to: have 
more issuer information before publishing priced 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. Finally the amendments would exclude from 
the rule securities that satisfy any one of three alternative 
thresholds.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/25/98                     63 FR 9661
NPRM Comment Period End         04/27/98
Reproposal                      03/08/99                    64 FR 11124
Reproposal Comment Period End   04/07/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Irene 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
_______________________________________________________________________




4497. 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                            05/00/99

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



_______________________________________________________________________




4498. 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                    05/00/99

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

[[Page 22421]]

Phone: 202 942-0177
Fax: 202 942-9553
Email: [email protected]

RIN: 3235-AD79
_______________________________________________________________________




4499. 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              05/00/99

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-AG18
_______________________________________________________________________




4500. 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
Final Action                    05/00/99

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
_______________________________________________________________________




4501. 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                    05/00/99

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 22422]]

Fax: 202 942-9553
Email: [email protected]

RIN: 3235-AH04
_______________________________________________________________________




4502. 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 Commission 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                            11/06/98                    63 FR 59911
Final Action                    06/00/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

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-AH48
_______________________________________________________________________




4503. 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                    05/00/99

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
_______________________________________________________________________




4504. 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 under 5 USC 801.

Legal Authority:  15 USC 78K-1(a)(3)(B)

CFR Citation:  None

Legal Deadline: None

Abstract: The 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                    06/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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
_______________________________________________________________________




4505. PROPOSED AMENDMENTS TO NATIONAL MARKET SYSTEM PLAN

Priority:  Substantive, Nonsignificant. Major under 5 USC 801.

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                    08/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Christine Richardson, Office of Market Supervision, 
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0748
Fax: 202 942-9695

[[Page 22423]]

Email: [email protected]

RIN: 3235-AH51
_______________________________________________________________________




4506.  EXEMPTION OF THE SECURITIES OF THE KINGDOM OF SWEDEN 
UNDER THE SECURITIES EXCHANGE ACT OF 1934 FOR PURPOSES OF TRADING 
FUTURES CONTRACTS ON THOSE SECURITIES

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority:  15 USC 77c; 15 USC 77d; 15 USC 77g; 15 USC 77s; 15 
USC 77z-z; 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 240.3a12-8

Legal Deadline: None

Abstract: The Commission proposes for comment an amendment to rule 
3a12-8 that would designate debt obligations issued by the Kingdom of 
Sweden as ``Exempted Securities'' for the purpose of marketing and 
trading futures contracts on those securities in the United States. 
This amendment is intended to permit futures trading on the sovereign 
debt of Sweden.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/01/99                     64 FR 9948
NPRM Comment Period End         03/31/99
Final Action                    06/00/99

Regulatory Flexibility Analysis Required: 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-AH68
_______________________________________________________________________




4507. 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
_______________________________________________________________________




4508. 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.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/30/97                    62 FR 68018
NPRM Comment Period End         03/02/98
Final Action                    06/00/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Additional Information: This proposal was based in part on comments 
received in response to a concept release (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
_______________________________________________________________________




4509. 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

[[Page 22424]]

NPRM Comment Period End         07/31/98
Final Action                    08/00/99

Regulatory Flexibility Analysis Required: No
Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Kevin Ehrlich, Office of Market Supervision, Division 
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0778
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH30
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Long-Term Actions


DIVISION OF MARKET REGULATION



_______________________________________________________________________




4510. 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
NPRM Comment Period End         10/29/96


Next Action Undetermined

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Constance Kiggins, Office of Market Supervision, 
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0059
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH00
_______________________________________________________________________




4511.  AUTOMATED SUBMISSION OF TRADING DATA BY CERTAIN EXCHANGE 
MEMBERS, BROKERS, AND DEALERS UNDER THE SECURITIES EXCHANGE ACT OF 1934

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority:  15 USC 78a; 15 USC 78q

CFR Citation:  17 CFR 240.17a

Legal Deadline: None

Abstract: The Securities and Exchange Commission is proposing Rule 17a-
25 which would set forth the obligations of registered broker-dealers 
to submit securities trading data in an automated format when requested 
by the Commission staff for enforcement and other regulatory purposes. 
The proposed rule would also set forth new data elements that would be 
required for transactions by entities that trade through multiple 
accounts maintained at multiple broker-dealers.

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Alton Harvey, Division of Market Regulation, Office of 
Market Supervision, Securities and Exchange Commission
Phone: 202 942-4167
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH69
_______________________________________________________________________




4512. 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

[[Page 22425]]

_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions


DIVISION OF MARKET REGULATION



_______________________________________________________________________




4513. OTC DERIVATIVES DEALERS

Priority:  Substantive, Nonsignificant. Major under 5 USC 801.

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 78k; ...

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 240.11a1-6; 17 CFR 240.15a-1; ...

Legal Deadline: None

Abstract: The Commission adopted rules and rule amendments under the 
Securities Exchange Act of 1934 that 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 is optional and is an alternative to registration as a broker-
dealer under the traditional broker-dealer regulatory structure. It is 
available only to entities that engage in dealer activities in eligible 
over-the-counter derivative instruments and that meet certain financial 
responsibility and other requirements.

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                    11/03/98                    63 FR 59362
Final Action Effective          01/04/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Additional Information: LEGAL AUTHORITY CONT: 15 USC 78i; 15 USC 78o; 
15 USC 78q; 15 USC 78w; 15 USC 78mm
CFR CITATION CONT: 17 CFR 249.617 (Revision); 17 CFR 15c2-5 (Revision) 
17 CFR 240.17a-5 (Revision); 17 CFR 240.15b9-2; 17 CFR 240.15c3-1f; 17 
CFR 240.15c3-4; 17 CFR 240.17a-12; 17 CFR 240.36a1-1; 17 CFR 240.36a1-2

Agency Contact: Laura S. Pruitt, 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
_______________________________________________________________________




4514. AMENDMENT TO RULE FILING REQUIREMENTS FOR SELF-REGULATORY 
ORGANIZATIONS REGARDING NEW DERIVATIVE SECURITIES PRODUCTS

Priority:  Substantive, Nonsignificant. Major under 5 USC 801.

Legal Authority:  15 USC 78a et seq; 15 USC 78s; 15 USC 78mm

CFR Citation:  17 CFR 240.19b-4(e); 17 CFR 249.820

Legal Deadline: None

Abstract: The Commission adopted 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 amendment 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              12/22/98                    63 FR 70952
Final Action                    12/22/98                    63 FR 70952
Final Action Effective          02/22/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

Government Levels Affected: None

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
_______________________________________________________________________




4515. 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. 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 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

Legal Deadline: None

Abstract: The Commission adopted 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                    03/05/99                    64 FR 10564

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
_______________________________________________________________________




4516. REGULATION OF ALTERNATIVE TRADING SYSTEMS AND NATIONAL SECURITIES 
EXCHANGES

Priority:  Substantive, Nonsignificant. Major under 5 USC 801.

Legal Authority:  15 USC 78a et seq; 15 USC 78mm

CFR Citation:  17 CFR 202.3; 17 CFR 240.3a1-1; 17 CFR 240.3b-16; 17 CFR 
240.6a-1; 17 CFR 240.6a-2; 17 CFR 240.6a-3; 17 CFR 240.aaAc1-1; 17 CFR 
240.17a-3; 17 CFR 240.17a-4; 17 CFR

[[Page 22426]]

240.17a-23; 17 CFR 240.19b-5; 17 CFR 242.300; 17 CFR 242.301; 17 CFR 
242.302; 17 CFR 242.303; ...

Legal Deadline: None

Abstract: The Commission adopted rules and rule amendments that create 
a new regulatory framework for alternative trading systems and 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 Action                    12/22/98                    63 FR 70844
Final Action Effective          04/21/99

Regulatory Flexibility Analysis Required: Yes
Small Entities Affected: Businesses

Government Levels Affected: None

Additional Information: CFR CITATION CONT: 17 CFR 249.1; 17 CFR 249.1-
A; 17 CFR 249.17A-23 17 CFR 249.637; 17 CFR 249.638; 17 CFR 249.821

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
_______________________________________________________________________




4517. 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 requires 
broker-dealers to file with the Commission and their designated 
examining authority certain reports regarding their Year 2000 readiness 
(63 FR 37688). On October 28, 1998, the Commission also adopted a rule 
that requires broker-dealers to engage an independent public accountant 
to attest to specific assertions included in the broker-dealer's report 
on Year 2000 compliance (63 FR 59308).

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                    11/03/98                    63 FR 59208
Final Action Effective          01/04/99

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-AH36
_______________________________________________________________________




4518. 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 requires 
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 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 adopted on November 2, 1998.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/12/98                    63 FR 12062
NPRM Comment Period End         04/13/98                    63 FR 19430
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                    11/02/98                    63 FR 58630
Final Action                    11/02/98                    63 FR 58630
Final Action Effective          12/02/98

Regulatory Flexibility Analysis Required: Yes
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)            Proposed Rule Stage


OFFICES AND OTHER PROGRAMS



_______________________________________________________________________




4519.  AMENDMENTS TO THE FREEDOM OF INFORMATION ACT, PRIVACY 
ACT, AND CONFIDENTIAL TREATMENT RULES

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority:  5 USC 552; 5 USC 552a; 15 USC 77f(d); 15 USC 77s; 15 
USC 77ggg(a); 15 USC 78m(F); 15 USC 78w; 15 USC 79t; 15 USC 79v(a); 15 
USC 77sss; 15 USC 80a-37; 15 USC 80a-44(a); 15 USC 80a-44(b); 15 USC 
80b-10; 15 USC 80b-11

CFR Citation:  17 CFR 200.80; 17 CFR 200.83; 17 CFR 200.303; 17 CFR 
200.306; 17 CFR 200.308; 17 CFR 200.310; 17 CFR 200.312

Legal Deadline: None

Abstract: The Commission proposes to amend its rules to implement 
recent statutory and case law requirements relating to access to 
Commission records. The proposed amendments would also conform the 
rules to current Commission practice and correct typographical errors.

[[Page 22427]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/00/99
Final Action                    09/00/99

Regulatory Flexibility Analysis Required: No
Small Entities Affected: Businesses, Governmental Jurisdictions, 
Organizations

Government Levels Affected: State, Local, Tribal, Federal

Agency Contact: Betty Lopez, SEC Operations Center, Securities and 
Exchange Commission, 6432 General Green Way, Mail Stop O-5, Alexandria, 
VA 22312-2413
Phone: 202 942-4327
Fax: 703 914-1149
Email: [email protected]

RIN: 3235-AH71
[FR Doc. 99-5653 Filed 04-23-99; 8:45 am]
BILLING CODE 8010-01-F
