[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]


Part LXI





Securities and Exchange Commission





_______________________________________________________________________



Semiannual Regulatory Agenda

[[Page 23938]]



SECURITIES AND EXCHANGE COMMISSION (SEC)                               


  



_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION

17 CFR Ch. II

Release Nos. 33-7807, 34-42499, 35-27146, 39-2383, IC-24328,IA-1859, 
File No. S7-07-00

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 March 2, 
2000, 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. The Commission provides notice under Section 
610 of the Regulatory Flexibility Act, which requires a review of 
certain rules and public notice of the intent to perform those reviews, 
at the end of the calendar year in a separate Federal Register 
publication, and on its web site, www.sec.gov/smbus.

DATES:  Public comments are due by June 30, 2000.

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., Washington, DC 
20549-0609. All submissions should refer to File No. S7-07-00, and will 
be available for public inspection and copying at the Commission's 
Public Reference Room, Room 1026, at the same address. Interested 
persons may also submit comments electronically at the following e-mail 
address: [email protected]. We will post electronically submitted 
comment letters on the Commission's web site www.sec.gov.

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 RFA also requires agencies to review rules which have a 
significant economic impact on a substantial number of small 
entities within ten years, and to provide public notice of the 
intent to perform those reviews (5 U.S.C. 610(a)). The Commission 
provides that notice annually by separate publication in the 
Federal Register at the end of the calendar year. In addition, the 
notice of rules which the Commission is reviewing in 2000 is 
published on the Commission's Web site www.sec.gov/smbus.

    The following abbreviations for the acts administered by the 
Commission are used in 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:  March 7, 2000.

By the Commission.

 Jonathan G. Katz,

Secretary.

                              DIVISION OF CORPORATION FINANCE--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4367        Asset-Backed Securities Disclosure..................................................     3235-AF74
4368        Regulation of Securities Offerings..................................................     3235-AG83
4369        Streamlining Rule 144...............................................................     3235-AH13
4370        Updating the Regulation A Offering Circular.........................................     3235-AH87
4371        Financial Reporting and Blank Check Companies.......................................     3235-AH88
4372        Further EDGAR System Modernization..................................................     3235-AH79
----------------------------------------------------------------------------------------------------------------


                                DIVISION OF CORPORATION FINANCE--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4373        Financial Statements and Periodic Reports for Related Issuer Guarantors.............     3235-AH52
4374        Addressing Abuses of Form S-8 by Companies Using Consultants To Raise Capital.......     3235-AG94

[[Page 23939]]

 
4375        Revisions to Rules Governing Options Disclosure Document............................     3235-AH31
4376        Householding of Proxy and Information Statements....................................     3235-AH66
----------------------------------------------------------------------------------------------------------------


                               DIVISION OF CORPORATION FINANCE--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4377        Definitions for Purposes of the Private Litigation Reform Act of 1995...............     3235-AG89
4378        Definition of ``Qualified Purchaser''...............................................     3235-AH15
----------------------------------------------------------------------------------------------------------------


                             DIVISION OF INVESTMENT MANAGEMENT--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4379        Form ADV Uniform Application for Investment Adviser Registration....................     3235-AD21
4380        Books and Records To Be Maintained by Investment Advisers...........................     3235-AH24
4381        Custody or Possession of Funds or Securities of Clients.............................     3235-AH26
4382        Form ADV-W Notice of Withdrawal From Registration as Investment Adviser.............     3235-AH27
4383        Principal Transactions With Investment Advisory Clients.............................     3235-AH34
4384        Shareholder Report and Financial Statement Revisions................................     3235-AG64
4385        Proposed Amendments in Investment Company Advertising Rules.........................     3235-AH19
4386        Exemption for Subsidiaries Organized To Finance Operations of Domestic or Foreign        3235-AE95
            Companies; Certain Prima Facie Investment Companies.................................
4387        Deposits of Securities in Securities Depositories...................................     3235-AG71
4388        Exemption for the Acquisition of Securities During the Existence of an Underwriting      3235-AH57
            Syndicate...........................................................................
4389        Mutual Fund After-Tax Returns.......................................................     3235-AH77
4390        Affiliate Transaction Rule Amendments...............................................     3235-AH80
4391        Mergers of Certain Affiliated Investment Companies..................................     3235-AH81
4392        Amendments To Form N-SAR, Semiannual Report of Registered Investment Companies......     3235-AF93
4393        Amendments to the Cash Solicitation Rule............................................     3235-AH33
4394        PUHCA: Exemption for Certain Acquisitions of Foreign Utility Companies; Subsidiaries     3235-AF78
            Authorized to Perform Services or Construction or to Sell Goods.....................
4395        Status of Subsidiary Companies Formed To Hold Interests in Foreign Utility Companies     3235-AF79
----------------------------------------------------------------------------------------------------------------


                               DIVISION OF INVESTMENT MANAGEMENT--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4396        Political Contributions by Certain Investment Advisers..............................     3235-AH72
4397        Role of Independent Directors of Investment Companies...............................     3235-AH75
4398        Certain Broker-Dealers Not Deemed To Be Investment Advisers.........................     3235-AH78
4399        Investment Company Names............................................................     3235-AH11
4400        Transactions in Certain Canadian Retirement Savings Accounts........................     3235-AH32
4401        Custody of Investment Company Assets Outside the United States; Custody of               3235-AH55
            Investment Company Assets With a Foreign Securities Depository......................
4402        Acquisition by Investment Company of Interest in Repurchase Agreement or Refunded        3235-AH56
            Security To Be Treated as Acquisition of Underlying Securities......................
4403        Insurance Products: New Form N-6 for Registration of Separate Accounts Offering          3235-AG37
            Variable Life Insurance Contracts...................................................
4404        Regulation P: Privacy of Consumer Financial Information.............................     3235-AH90
----------------------------------------------------------------------------------------------------------------


[[Page 23940]]


                              DIVISION OF INVESTMENT MANAGEMENT--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4405        Insurance Products: Equity Index Insurance Products Concept Release.................     3235-AH23
----------------------------------------------------------------------------------------------------------------


                              DIVISION OF INVESTMENT MANAGEMENT--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4406        Temporary Exemption for Certain Investment Advisers.................................     3235-AH02
4407        Delivery of Disclosure Documents to Households......................................     3235-AG98
----------------------------------------------------------------------------------------------------------------


                               DIVISION OF MARKET REGULATION--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4408        Net Capital Rule: Customer Protection Rule..........................................     3235-AH05
4409        Risk Assessment Recordkeeping and Reporting Requirement.............................     3235-AH06
4410        Exemption of Certain Foreign Brokers and Dealers....................................     3235-AH17
4411        Untimely Announcement of Record Dates...............................................     3235-AH38
4412        Automated Submission of Trading Data by Certain Exchange Members, Brokers, and           3235-AH69
            Dealers Under the Securities Exchange Act of 1934...................................
4413        Purchases of Certain Equity Securities by the Issuers and Others....................     3235-AH37
4414        Exemption From Exchange Act Section 11(d)(1) for Securities of Foreign Issuers Sold      3235-AH58
            on an Installment Basis.............................................................
4415        Net Capital Rule Concept Release....................................................     3235-AH29
4416        Concept Release: Short Sales........................................................     3235-AH84
----------------------------------------------------------------------------------------------------------------


                                 DIVISION OF MARKET REGULATION--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4417        Net Capital Requirements for Brokers or Dealers.....................................     3235-AD79
4418        Market Risk Haircuts for Instruments Subject to Interest Rate Risk..................     3235-AG18
4419        Amendments to Rules 17a-3 and 17a-4 Under the Securities Exchange Act of 1934.......     3235-AH04
4420        Proposed Amendments to Transfer Agent Rules.........................................     3235-AG24
4421        Revised Transfer Agent Form and Related Rule........................................     3235-AH44
4422        Exemption of the Securities of the Republic of Portugal Under the Securities             3235-AH76
            Exchange Act of 1934 for Purposes of Trading Futures Contracts on Those Securities..
4423        Extending Unlisted Trading Privileges to a Security That Is the Subject of an            3235-AH85
            Initial Public Offer................................................................
4424        Tender and Reorganization Agents....................................................     3235-AH53
4425        Net Capital Requirements for Brokers or Dealers -- Definition of the Term Nationally     3235-AH28
            Recognized Statistical Rating Organization..........................................
4426        Amendment to Rule 9b-1 Under the Securities Exchange Act Relating to the Options         3235-AH30
            Disclosure Document.................................................................
4427        Initiation or Resumption of Quotations Without Specified Information................     3235-AH40
4428        Recordkeeping Requirements for Transfer Agents......................................     3235-AH74
----------------------------------------------------------------------------------------------------------------


                                DIVISION OF MARKET REGULATION--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4429        Amendment to Rule 11Ac1-1...........................................................     3235-AH00
4430        Large Trader Reporting System.......................................................     3235-AE42
4431        Destruction of Cancelled Securities Certificates....................................     3235-AH54
----------------------------------------------------------------------------------------------------------------


[[Page 23941]]


                                DIVISION OF MARKET REGULATION--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4432        Adoption of Amendments to the Intermarket Trading System (ITS) Plan To Expand the        3235-AH49
            ITS/Computer Assisted Execution System Linkage to All Listed Securities.............
----------------------------------------------------------------------------------------------------------------


                                    OFFICES AND OTHER PROGRAMS--Prerule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4433        International Accounting Standards..................................................     3235-AH65
----------------------------------------------------------------------------------------------------------------


                                 OFFICES AND OTHER PROGRAMS--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4434        Supplemental Financial Information..................................................     3235-AH86
4435        Auditor Independence................................................................     3235-AH91
----------------------------------------------------------------------------------------------------------------


                                  OFFICES AND OTHER PROGRAMS--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4436        Amendments to the Freedom of Information Act, Privacy Act, and Confidential              3235-AH71
            Treatment Rules.....................................................................
4437        Selective Disclosure and Insider Trading............................................     3235-AH82
----------------------------------------------------------------------------------------------------------------


                                  OFFICES AND OTHER PROGRAMS--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4438        Audit Committee Disclosure..........................................................     3235-AH83
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage


Division of Corporation Finance



_______________________________________________________________________




4367. ASSET-BACKED SECURITIES DISCLOSURE

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

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

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

Legal Deadline: None

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

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/00/01

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

RIN: 3235-AF74
_______________________________________________________________________




4368. 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

[[Page 23942]]

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. The Division will 
recommend that the Commission repropose all or parts of this initiative 
to reflect public comment on the proposals.

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
Comment Period Extended         03/30/99                    64 FR 15143
NPRM Comment Period End         04/05/99                    63 FR 67174
Extended Comment Period End     06/30/99
Reproposal                      07/00/00

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

RIN: 3235-AG83
_______________________________________________________________________




4369. 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 proposed revisions to Rule 144, Rule 145 and 
Form 144 to make the rules and form easier to understand and apply. The 
Division is considering recommending that the Commission repropose 
amendments that would, among other things, add a bright line test to 
the Rule 144 definition of affiliate, increase the Form 144 filing 
thresholds, and codify certain interpretive positions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/20/97                     62 FR 9246
NPRM Comment Period End         04/29/97
Reproposed                      09/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Martin Dunn, Securities and Exchange Commission, 
Division of Corporation Finance
Phone: 202 942-2890

RIN: 3235-AH13
_______________________________________________________________________




4370.  UPDATING THE REGULATION A OFFERING CIRCULAR

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

Legal Authority: 15 USC 77a et seq

CFR Citation: 17 CFR 239.0

Legal Deadline: None

Abstract: The Division is considering recommending that the Commission 
propose amendments to the Model A offering circular in the Regulation A 
offering statement to conform it to a State registration statement 
format.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/00

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-AH87
_______________________________________________________________________




4371.  FINANCIAL REPORTING AND BLANK CHECK COMPANIES

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

Legal Authority: 15 USC 78a et seq

CFR Citation: 17 CFR 249.308

Legal Deadline: None

Abstract: The Division is considering recommending that the Commission 
propose amendments to Form 8-K that would remove the grace period for 
filing financial statements in a blank check company merger.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Richard K. Wulff, Division of Corporation Finance, 
Securities and Exchange Commission
Phone: 202 942-2950
Fax: 202 942-9516

RIN: 3235-AH88
_______________________________________________________________________




4372. FURTHER EDGAR SYSTEM MODERNIZATION

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

CFR Citation: 17 CFR 232.101 to 601

Legal Deadline: None

Abstract: The Commission is continuing to modernize the Electronic Data 
Gathering, Analysis, and Retrieval (EDGAR) system. The staff is 
considering recommending that the Commission propose new rules to 
eliminate Financial Data Schedule filing requirements and implement 
various aspects of modernization and that the Commission update the 
EDGAR rules generally.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/03/00                    65 FR 11507
NPRM Comment Period End         04/03/00
Final Action                    06/00/00

Regulatory Flexibility Analysis Required: Undetermined

[[Page 23943]]

Government Levels Affected: None

Additional Information: This proposal was prepared jointly by staff in 
the Divisions of Corporation Finance and Investment Management, and 
previously appeared in the Unified Agenda as a Division of Investment 
Management matter.

Agency Contact: Ruth Armfield Sanders, Division of Investment 
Management, Securities and Exchange Commission
Phone: 202 942-0633

Carol Weiss, Division of Corporation Finance, Securities and Exchange 
Commission
Phone: 202 942-1942
Fax: 202 942-9542

RIN: 3235-AH79
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage


Division of Corporation Finance



_______________________________________________________________________




4373. 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 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                    05/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Michael G. Hyatte, Office of Chief Counsel, Division of 
Corporation Finance, Securities and Exchange Commission
Phone: 202 942-2900

RIN: 3235-AH52
_______________________________________________________________________




4374. 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 proposed additional amendments to Form S-8 
requirements to further deter the misuse of that form. The proposals 
would add a timeliness requirement for filings under the Exchange Act 
in order to use the form. In addition, a company formed by merger of a 
non-public company into an Exchange Act reporting company with only 
nominal assets at the time of merger would have to wait until it had 
filed an Exchange Act annual report containing audited financial 
statements reflecting the merger before it could use Form S-8. The 
Commission also extended the comment period on the proposal in Release 
No. 33-7506 to require disclosure in Part II of Form S-8 of the names 
of consultants who will receive securities, the number of securities to 
be issued to each of them, and the specific services that each will 
provide.

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
Second NPRM Comment Period End  05/07/99
Final Action                    06/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

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

RIN: 3235-AG94
_______________________________________________________________________




4375. 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                    09/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Theresa M. Regan, Division of Corporation Fianace, 
Securities and Exchange Commission
Phone: 202 942-2900

RIN: 3235-AH31
_______________________________________________________________________




4376. 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 Commission proposed revisions to the proxy rules to 
permit

[[Page 23944]]

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                            11/16/99                    64 FR 62548
NPRM Comment Period End         01/18/00
Final Action                    07/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Elizabeth M. Murphy, Division of Corporation Finance, 
Securities and Exchange Commission
Phone: 202 942-2900

RIN: 3235-AH66
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions


Division of Corporation Finance



_______________________________________________________________________




4377. 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 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 subsesquent point.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Withdrawn                       04/01/00

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

RIN: 3235-AG89
_______________________________________________________________________




4378. 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 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

________________________________________________________________________

Withdrawn                       04/01/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: John Reynolds, Securities and Exchange Commission, 
Division of Corporation Finance
Phone: 202 942-2950

RIN: 3235-AH15
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage


Division of Investment Management



_______________________________________________________________________




4379. 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                            04/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Federalism:  Undetermined

Agency Contact: Lori Hamilton Price, Task Force on Investment Adviser 
Regulation, Division of Investment Management, Securities and Exchange 
Commission
Phone: 202 942-0716

RIN: 3235-AD21
_______________________________________________________________________




4380. 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.

[[Page 23945]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Federalism:  Undetermined

Agency Contact: Jeffrey O. Himstreet, Division of Investment 
Management, Securities and Exchange Commission
Phone: 202 942-0716

RIN: 3235-AH24
_______________________________________________________________________




4381. 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                            06/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Federalism:  Undetermined

Agency Contact: Jennifer Sawin, Task Force on Investment Adviser 
Regulation, Division of Investment Management, Securities and Exchange 
Commission
Phone: 202 942-0716

RIN: 3235-AH26
_______________________________________________________________________




4382. 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                            04/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Federalism:  Undetermined

Agency Contact: Lori Hamilton Price, Task Force on Investment Adviser 
Regulation, Division of Investment Management, Securities and Exchange 
Commission
Phone: 202 942-0716

RIN: 3235-AH27
_______________________________________________________________________




4383. 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 revise the conditions 
under which investment advisers may enter into principal transactions 
with their clients.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Federalism:  Undetermined

Agency Contact: Karen Goldstein, Task Force on Investment Adviser 
Regulation, Division of Investment Management, Securities and Exchange 
Commission
Phone: 202 942-0716

RIN: 3235-AH34
_______________________________________________________________________




4384. 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                            10/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Maura McNulty, Office of Disclosure Regulation, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0621

RIN: 3235-AG64
_______________________________________________________________________




4385. 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 77g; 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; 17 CFR 230.134

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. The Division is also considering whether to

[[Page 23946]]

recommend that the Commission propose to amend Rule 134 to rescind 
provisions of Rule 134 that apply only to investment companies.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: John L. Sullivan, Division of Investment Management, 
Securities and Exchange Commission
Phone: 202 942-0721

RIN: 3235-AH19
_______________________________________________________________________




4386. 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                            07/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Jaea F. Hahn, Office of Regulatory Policy, Division of 
Investment Management, Securities and Exchange Commission
Phone: 202 942-0690

RIN: 3235-AE95
_______________________________________________________________________




4387. 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, update and simplify the rule's compliance requirements to 
reflect changes in commercial law, 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                            09/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Jaea F. Hahn, Office of Regulatory Policy, Division of 
Investment Management, Securities and Exchange Commission
Phone: 202 942-0690

RIN: 3235-AG71
_______________________________________________________________________




4388. 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                            04/00/00

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
_______________________________________________________________________




4389. MUTUAL FUND AFTER-TAX RETURNS

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

Legal Authority: 15 USC 80a et seq; 15 USC 77a et seq; 15 USC 78a et 
seq; 15 USC 79q et seq

CFR Citation: 17 CFR 239.15A and 274.11A (Form N-1A); 17 CFR 230.482; 
17 CFR 270.346-1

Legal Deadline: None

Abstract: The Commission proposed form and rule amendments that would 
require mutual funds to disclose after-tax returns based on 
standardized formulas comparable to the formulas currently used to 
calculate after-tax annual total returns. The proposals also would 
require funds that include after-tax returns in advertisements and 
other sales materials to include standardized after-tax returns.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/22/00                    65 FR 15500
NPRM Comment Period End         06/30/00
Final Action                    11/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

[[Page 23947]]

Government Levels Affected: Undetermined

Agency Contact: Maura McNulty, Office of Disclosure Regulation, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0621

RIN: 3235-AH77
_______________________________________________________________________




4390. AFFILIATE TRANSACTION RULE AMENDMENTS

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

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

CFR Citation: Not Yet Determined

Legal Deadline: None

Abstract: The Division of Investment Management is considering 
recommending to the Commission amendments to rules to expand the 
circumstances in which funds may engage in transactions with 
affiliates.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

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

RIN: 3235-AH80
_______________________________________________________________________




4391. 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 under the Investment Company Act exempts from the 
prohibitions of section 17(a) mergers, consolidations or purchases or 
sales of substantially all of the assets of registered investment 
companies that are affiliated persons solely by reason of having a 
common investment adviser, common directors, or common officers, 
provided that certain conditions are met. The Division of Investment 
Management is considering recommending to the Commission that it expand 
the rule to include other affiliate relationships.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Jennifer B. McHugh, Office of Disclosure Regulation, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690

RIN: 3235-AH81
_______________________________________________________________________




4392. AMENDMENTS TO FORM N-SAR, SEMIANNUAL REPORT OF REGISTERED 
INVESTMENT COMPANIES

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

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

CFR Citation: 17 CFR 249.330; 17 CFR 274.101

Legal Deadline: None

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

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/00/01

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Agency Contact: Carolyn A. Miller, Office of Financial Analysis, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0510

RIN: 3235-AF93
_______________________________________________________________________




4393. 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                            06/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Federalism:  Undetermined

Agency Contact: Jennifer L. Sabin, Task Force on Investment Adviser 
Regulation, Division of Investment Management, Securities and Exchange 
Commission
Phone: 202 942-0716

RIN: 3235-AH33
_______________________________________________________________________




4394. PUHCA: EXEMPTION FOR CERTAIN ACQUISITIONS OF FOREIGN UTILITY 
COMPANIES; SUBSIDIARIES AUTHORIZED TO PERFORM SERVICES OR CONSTRUCTION 
OR TO SELL GOODS

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

Legal Authority: 15 USC 79e; 15 USC 79f(b); 15 USC 79i(c)(3); 15 USC 
79t; 15 USC 79z-5a; 15 USC 79z-5b; 15 USC 79; 15 USC 79j; 15 USC 79l; 
15 USC 79m; 15 USC 79n; 15 USC 79o

CFR Citation: 17 CFR 250.55 (new); 17 CFR 250.87 (Revision); 17 CFR 
259.5s (Revision); 17 CFR 259.207 (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. The proposed amendment to rule 87 would 
require registered holding companies to obtain Commission approval of 
intrasystem agreements involving foreign utility companies and exempt 
wholesale generators.

[[Page 23948]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/08/93                    58 FR 13719
NPRM Comment Period End         04/14/93
Reproposal                      04/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Mark Vilardo, Division of Investment Management, 
Securities and Exchange Commission
Phone: 202 942-0545

RIN: 3235-AF78
_______________________________________________________________________




4395. 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 79f(b); 15 USC 79t; 15 USC 79z-5a; 15 USC 79z-
5b

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
Reproposal                      04/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Mark Vilardo, Division of Investment Management, 
Securities and Exchange Commission
Phone: 202 942-0545

RIN: 3235-AF79
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage


Division of Investment Management



_______________________________________________________________________




4396. POLITICAL CONTRIBUTIONS BY CERTAIN INVESTMENT ADVISERS

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

Legal Authority: 15 USC 206(4); 15 USC 211(a); 15 USC 204

CFR Citation: 17 CFR 275

Legal Deadline: None

Abstract: The Commission has proposed new rule 206(4)-5, which would 
prohibit an investment adviser from providing advisory services for 
compensation to a government client for two years after the adviser or 
any of its partners, executive officers, or solicitors makes a 
contribution to certain elected officials or candidates.
The Commission also has proposed rule amendments that would require a 
registered adviser that has government clients to maintain certain 
records of the political contributions made by the adviser or any of 
its partners, executive officers, or solicitors.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/10/99                    64 FR 43556
NPRM Comment Period End         11/01/99
Final Action                    04/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Karen Goldstein, Task Force on Investment Adviser 
Regulation, Division of Investment Management, Securities and Exchange 
Commission
Phone: 202 942-0716

RIN: 3235-AH72
_______________________________________________________________________




4397. ROLE OF INDEPENDENT DIRECTORS OF INVESTMENT COMPANIES

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

Legal Authority: 15 USC 80a-6(c); 15 USC 80a-8; 15 USC 80a-24(a); 15 
USC 80a-20(a); 15 USC 80a-29(e); 15 USC 80a-30; 15 USC 80a-37; 15 USC 
78n; 15 USC 78w(a)(1); 15 USC 77e; 15 USC 77f; 15 USC 77g; 15 USC 77j; 
15 USC 77(s)(a); ...

CFR Citation: 17 CFR 270.2a19-1; 17 CFR 270.2a19-3; 17 CFR 270.10f-3; 
17 CFR 270.12b-1; 17 CFR 270.15a-4; 17 CFR 270.17a-7; 17 CFR 270.17d-1; 
17 CFR 270.17e-1; 17 CFR 270.17g-1; 17 CFR 270.18f-3; 17 CFR 270.23c-3; 
17 CFR 270.30d-1; 17 CFR 270.31a-2; 17 CFR 274.11A; 17 CFR 274.11a-1; 
17 CFR 274.11b; 17 CFR 240.14a-101; 17 CFR 270.17a-8; ...

Legal Deadline: None

Abstract: The Commission proposed amendments to rules under the 
Investment Company Act to enhance the independence and effectiveness of 
investment company (fund) boards of directors and to better enable 
shareholders to assess the independence of directors. The Commission 
also proposed amendments that would require funds to disclose in their 
proxy statements, annual reports, and registration statements more 
information regarding fund directors, including, among other things, 
directors' potential conflicts of interest.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            11/03/99                    64 FR 59826
NPRM Comment Period End         01/28/00
Final Action                    06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Jennifer B. McHugh, Office of Disclosure Regulation, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690

RIN: 3235-AH75

[[Page 23949]]

_______________________________________________________________________




4398. CERTAIN BROKER-DEALERS NOT DEEMED TO BE INVESTMENT ADVISERS

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

Legal Authority: 15 USC 80b-2(a)(11)(F)

CFR Citation: 17 CFR 275.202(a)(11)-1

Legal Deadline: None

Abstract: The Commission has proposed new rule 202(a)(11)-1, a new rule 
which would exempt from the definition of investment adviser those 
broker-dealers offering nondiscretionary, full-service brokerage 
programs so long as the investment advice provided is solely incidental 
to the brokerage services and other conditions are satisfied.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            11/10/99                    64 FR 61226
NPRM Comment Period End         01/14/00
Final Action                    04/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Federalism:  This action may have federalism implications as defined in 
EO 13132.

Agency Contact: Jennifer L. Sabin, Task Force on Investment Adviser 
Regulation, Division of Investment Management, Securities and Exchange 
Commission
Phone: 202 942-0716

RIN: 3235-AH78
_______________________________________________________________________




4399. 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 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                    11/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Kimberly Dopkin Rasevic, Office of Regulatory Policy, 
Division of Investment Management, Securities and Exchange Commission
Phone: 202 942-0721

RIN: 3235-AH11
_______________________________________________________________________




4400. TRANSACTIONS IN CERTAIN CANADIAN RETIREMENT SAVINGS ACCOUNTS

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: 17 CFR 230.237; 17 CFR 240.12g3-2; 17 CFR 270.7d-2

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                    06/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Curtis A. Young, Office of Regulatory Policy, Division 
of Investment Management, Securities and Exchange Commission
Phone: 202 942-0690

RIN: 3235-AH32
_______________________________________________________________________




4401. CUSTODY OF INVESTMENT COMPANY ASSETS OUTSIDE THE UNITED STATES; 
CUSTODY OF INVESTMENT COMPANY ASSETS WITH A FOREIGN SECURITIES 
DEPOSITORY

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 proposed amendments to rule 17f-5 and a new rule 17f-7 to 
establish new standards governing the maintenance of investment company 
assets with foreign securities depositories. The Commission also has 
extended the compliance date for certain amendments to rule 17f-5 that 
had been adopted in 1997.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/06/99                    64 FR 24489
NPRM Comment Period End         07/15/99
Final Action                    05/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Jaea F. Hahn, Office of Regulatory Policy, Division of 
Investment Management, Securities and Exchange Commission
Phone: 202 942-0690

RIN: 3235-AH55
_______________________________________________________________________




4402. 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

[[Page 23950]]

Abstract: The Commission proposed 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 Commission also proposed 
conforming amendments to Rule 2a-7 and Rule 12d3-1.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/29/99                    64 FR 52476
NPRM Comment Period End         11/23/99
Final Action                    07/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

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

RIN: 3235-AH56
_______________________________________________________________________




4403. 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                            03/23/98                    63 FR 13988
NPRM Comment Period End         07/01/98
Final Action                    08/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: Undetermined

Agency Contact: William J. Kotapish, Division of Investment Management, 
Securities and Exchange Commission
Phone: 202 942-0670

RIN: 3235-AG37
_______________________________________________________________________




4404.  REGULATION P: PRIVACY OF CONSUMER FINANCIAL INFORMATION

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

Legal Authority: 15 USC 6801; 15 USC 78w; 15 USC 80a-37; 15 USC 80b-11

CFR Citation: Not Yet Determined

Legal Deadline: Final, Statutory, May 12, 2000.

Abstract: The Commission proposed rules to implement Title V of the 
Gramm-Leach-Bliley Act, which requires the Commission (and other 
federal agencies) to adopt rules to protect the privacy of personal 
financial information.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/08/00                    65 FR 12354
NPRM Comment Period End         03/31/00
Final Action                    05/00/00

Regulatory Flexibility Analysis Required: Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

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

RIN: 3235-AH90
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Long-Term Actions


Division of Investment Management



_______________________________________________________________________




4405. 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                           11/21/97                    62 FR 45359


Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Small Entities Affected: Businesses

Government Levels Affected: Undetermined

Agency Contact: William J. Kotapish, Division of Investment Management, 
Securities and Exchange Commission
Phone: 202 942-0670

RIN: 3235-AH23

[[Page 23951]]

_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions


Division of Investment Management



_______________________________________________________________________




4406. TEMPORARY EXEMPTION FOR CERTAIN INVESTMENT ADVISERS

Priority: Substantive, Nonsignificant

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

CFR Citation: 17 CFR 270.15a-4

Legal Deadline: None

Abstract: The Commission adopted 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. Among other things, the amendments 
expand the exemption provided under the rule to include temporary 
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                    12/06/99                    64 FR 68019
Final Action Effective          12/13/99

Regulatory Flexibility Analysis Required: No

Small Entities Affected: Businesses

Government Levels Affected: None

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

RIN: 3235-AH02
_______________________________________________________________________




4407. DELIVERY OF DISCLOSURE DOCUMENTS TO HOUSEHOLDS

Priority: Substantive, Nonsignificant

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; 17 CFR 230.154

Legal Deadline: None

Abstract: The Commission adopted 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 adopted 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 adopted 
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                            11/20/97                    62 FR 61933
NPRM Comment Period End         02/02/98
Final Action                    11/16/99                    64 FR 62548
Final Action Effective          12/20/99

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

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

RIN: 3235-AG98
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage


Division of Market Regulation



_______________________________________________________________________




4408. 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                            06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Thomas K. McGowan, Office of Risk Management, Division 
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-4886
Fax: 202 942-9553
Email: [email protected]

RIN: 3235-AH05
_______________________________________________________________________




4409. 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 2000.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Thomas K. McGowan, Office of Risk Management, Division 
of

[[Page 23952]]

Market Regulation, Securities and Exchange Commission
Phone: 202 942-4886
Fax: 202 942-9553
Email: [email protected]

RIN: 3235-AH06
_______________________________________________________________________




4410. 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 U.S. institutional customers 
to take advantage of the efficiencies of foreign markets.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Barbara A. Stettner, Office of the Chief Counsel, 
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0146
Fax: 202 942-9625
Email: [email protected]

RIN: 3235-AH17
_______________________________________________________________________




4411. 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                            06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Nancy Oremland, Office of Chief Counsel, Division of 
Market Regulation, Securities and Exchange Commission
Phone: 202 940-0067
Fax: 202 942-9645
Email: [email protected]

RIN: 3235-AH38
_______________________________________________________________________




4412. 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 78c; 15 USC 78j; 15 USC 78mm; 15 
USC 78w; 15 USC 78q

CFR Citation: 17 CFR 240.17a-25

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 improve the Commission's capacity to use 
electronic submissions of trading data to analyze transactions by 
entities that trade through multiple accounts maintained at multiple 
broker-dealers.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Anitra Cassas, Office of Market Supervision, Division 
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0089
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH69
_______________________________________________________________________




4413. 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 simplify and update Rule 
10b-18's provisions in light of market development since the Rule's 
adoption. Rule 10b-18 provides a safe harbor from liability under the 
anti-manipulation provisions of sections 9(a)(2) and 10(b) of the 
Exchange Act, and Rule 10b-5 thereunder, for issuer purchases of its 
common stock made in compliance with Rule 10b-18's timing, price and 
volume conditions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Joan Collopy, Office of Risk Management, Division of 
Market Regulation, Securities and Exchange Commission
Phone: 202 942-0772
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH37

[[Page 23953]]

_______________________________________________________________________




4414. 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 for international offerings of 
foreign issuers done on an installment basis if: (1) this sale is part 
of a foreign government offering, or (2) the sale meets certain minimum 
market volume criteria and the foreign issuer meets a minimum market 
capitalization, or (3) the shares offered in the United States are 
exempt from registration and will be sold only to qualified 
institutional buyers or institutional accredited investors.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: George Lavdas, Office Chief Counsel, Division of Market 
Regulation, Securities and Exchange Commission
Phone: 202 942-0736
Fax: 202 942-9645
Email: [email protected]

RIN: 3235-AH58
_______________________________________________________________________




4415. NET CAPITAL RULE CONCEPT RELEASE

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

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

CFR Citation: 17 CFR 240.15c3-1

Legal Deadline: None

Abstract: As part of its comprehensive review of Exchange Act Rule 
15c3-1, the net capital rule, the Commission published a concept 
release soliciting comments on how the net capital rule may incorporate 
statistical models to calculate net capital requirements. This concept 
release also solicited comments and ideas on how the net capital rule 
could be further modified.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           12/30/97                    62 FR 68011
ANPRM Comment Period End        03/30/98
Extension of Comment Period to  05/04/98                    63 FR 11173
NPRM                            06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Thomas K. McGowan, Office of Risk Management, Division 
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-4886
Fax: 202 942-9553
Email: [email protected]

RIN: 3235-AH29
_______________________________________________________________________




4416.  CONCEPT RELEASE: SHORT SALES

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

Legal Authority: 15 USC 78j(a); 15 USC 78w

CFR Citation: 17 CFR 240.10a-1

Legal Deadline: None

Abstract: As part of its comprehensive review of Exchange Act Rule 10a-
1, the short sale rule, the Commission published a concept release 
soliciting public comment on, among other things: lifting the limits on 
short sales of exchange listed securities under advancing market 
conditions; providing an exception for actively traded securities; 
focusing short sale restrictions on certain market events and trading 
strategies; removing short sale restrictions on hedging transactions; 
revising short sale regulation in response to certain market 
developments; revising the definition of ``short sale''; extending 
short sale regulation to non-exchange listed securities; and 
eliminating short sale regulation altogether.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           10/28/99                    64 FR 57996
ANPRM Comment Period End        12/28/99
NPRM                            09/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Michael R. Trocchio, Division of Market Regulation, 
Securities and Exchange Commission
Phone: 202 942-0147
Fax: 202 942-9553

RIN: 3235-AH84
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage


Division of Market Regulation



_______________________________________________________________________




4417. 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

[[Page 23954]]

Interim Final Rule              12/02/92                    57 FR 56973
NPRM Comment Period End         02/05/93
Final Action                    06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Thomas K. McGowan, Office of Risk Management, Division 
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-4886
Fax: 202 942-9553
Email: [email protected]

RIN: 3235-AD79
_______________________________________________________________________




4418. 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, or haircuts, applicable to interest 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              06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Thomas K. McGowan, Office of Risk Management, Division 
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-4886
Fax: 202 942-9553
Email: [email protected]

RIN: 3235-AG18
_______________________________________________________________________




4419. 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 
broker-dealer books and records rules which are designed to clarify and 
expand recordkeeping requirements with respect to purchase and sale 
documents, customer records, associated person records, customer 
complaints, and certain other matters.

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                    06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Federalism:  This action may have federalism implications as defined in 
EO 13132.

Agency Contact: Thomas K. McGowan, Office of Risk Management, Division 
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-4886
Fax: 202 942-9553
Email: [email protected]

RIN: 3235-AH04
_______________________________________________________________________




4420. PROPOSED AMENDMENTS TO TRANSFER AGENT RULES

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; 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 79q; 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

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                            12/08/94                    59 FR 63662
NPRM Comment Period End         02/06/95
Final Action                    06/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Jerry Carpenter, Division of Market Regulation, 
Securities and Exchange Commission
Phone: 202 942-4187
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AG24

[[Page 23955]]

_______________________________________________________________________




4421. REVISED TRANSFER AGENT FORM AND RELATED RULE

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: The Securities and Exchange Commission (Commission) proposed 
amendments to Rule 17Ac2-2 and related Form TA-2 and its proposal to 
rescind Rule 17a-24 under the Securities Exchange Act. The amendments 
would make technical corrections and provide greater clarity to Form 
TA-2. Accordingly, the amendments are designed to clarify filing 
requirements and instructions; eliminate or change ambiguous terms and 
phrases; delete certain redundant or unnecessary questions; and add 
questions that would help the Commission to more effectively monitor 
the transfer agent industry.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/31/99                    64 FR 15310
NPRM Comment Period End         05/17/99
Final Action                    06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Lori Rae 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
_______________________________________________________________________




4422. EXEMPTION OF THE SECURITIES OF THE REPUBLIC OF PORTUGAL 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; 15 
USC 78j; 15 USC 78j-1; 15 USC 78k; 15 USC 78k-1; 15 USC 78l; 15 USC 
78m; 15 USC 78n; 15 USC 78o; 15 USC 78p; 15 USC 78q; 15 USC 78s; 15 USC 
78u-5; 15 USC 78w; 15 USC 78x; 15 USC 78ll(d); 15 USC 78mm; 15 USC 79q; 
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; 15 USC 78a et seq; 15 USC 
18c(a)(12); 15 USC 78w(a)

CFR Citation: 17 CFR 240.3a12-8

Legal Deadline: None

Abstract: The Commission proposed for comment an amendment to Rule 
3a12-8 that would designate debt obligations issued by the Republic of 
Portugal 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 Portugal.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/29/99                    64 FR 41056
NPRM Comment Period End         08/30/99
Final Action                    07/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: Undetermined

Additional Information: Statutory basis for Rule 3a12-8 in particular: 
15 USC 78a et seq, particularly sections 3(a)(12) and 23(a), 15 USC 
78c(a)(12) and 78w(a).

Agency Contact: Melinda Diller, Office of Market Supervision, Division 
of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0166
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH76
_______________________________________________________________________




4423.  EXTENDING UNLISTED TRADING PRIVILEGES TO A SECURITY THAT 
IS THE SUBJECT OF AN INITIAL PUBLIC OFFER

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

Legal Authority: 15 USC 78k-1; 15 USC 78l(f)(1); 15 USC 78w(a)

CFR Citation: 17 CFR 240.12f-2

Legal Deadline: None

Abstract: The Commission proposed a change to Exchange Act Rule 12f-2, 
which governs unlisted trading privileges (``UTP'') in listed initial 
public offerings (``IPOs''). Under the proposed rule changes, a 
national securities exchange extending UTP privileges to an IPO 
security listed on another exchange would no longer be required to wait 
until the day after trading has commenced on the listing exchange to 
allow trading in that security. Instead, a national securities exhange 
would be permitted to begin trading in an IPO issue pursuant to UTP 
immediately after the first trade in the security is reported by the 
listing exchange to the Consolidated Tape.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/15/99                    64 FR 69975
NPRM Comment Period End         01/31/00
Final Action Expected           06/00/00

Regulatory Flexibility Analysis Required: Undetermined

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-AH85
_______________________________________________________________________




4424. 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

[[Page 23956]]

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                    06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Michael Rae, Office of Risk Management and Control, 
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-0785
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH53
_______________________________________________________________________




4425. 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                    06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

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: 202 942-4886
Fax: 202 942-9553
Email: [email protected]

RIN: 3235-AH28
_______________________________________________________________________




4426. 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 proposed to amend Exchange Act Rule 9b-1, 
which requires that an Options Disclosure Document (ODD) be sent to a 
customer opening an options account. The proposed amendment would 
refine certain language of the Rule so that it more clearly reflects 
the regulatory standards it was designed to establish. In paragraph 
(a)(3) of the Rule, the definition of ``Options Disclosure Document'' 
will be amended to explicitly state that amendments and supplements to 
the ODD are included as part of the ODD. Paragraphs (c)(2) and (c)(3) 
will be amended to better reflect the type of information appropriately 
included in the ODD. Paragraphs (c)(4) and (c)(7) will be similarly 
amended.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/01/98                    63 FR 36136
NPRM Comment Period End         07/31/98
Final Action                    06/00/00

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
_______________________________________________________________________




4427. 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 reproposed 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
Reproposal Comment Period 
Extended to                     05/08/99                    64 FR 18393
Final Action                    06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Florence E. Harmon, Office of Risk Management and 
Control, Division of Market Regulation, Securities and Exchange 
Commission
Phone: 202 942-0773
Fax: 202 942-0553
Email: [email protected]

RIN: 3235-AH40

[[Page 23957]]

_______________________________________________________________________




4428. RECORDKEEPING REQUIREMENTS FOR TRANSFER AGENTS

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

Legal Authority: 15 USC 78q-1(a)(2); 15 USC 78q-1(d)

CFR Citation: 17 CFR 240.17Ad-7(f)

Legal Deadline: None

Abstract: The Commission proposed amendments to Rule 17Ad-7 under the 
Securities Exchange Act of 1934 to allow registered transfer agents to 
use microfiche and to use electronic storage media to preserve the 
records that they are required to retain.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/02/99                    64 FR 29608
NPRM Comment Period End         07/02/99
Final Action                    06/00/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: David Karasik, Office of Risk Management and Control, 
Division of Market Regulation, Securities and Exchange Commission
Phone: 202 942-4187
Fax: 202 942-9695
Email: [email protected]

RIN: 3235-AH74
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Long-Term Actions


Division of Market Regulation



_______________________________________________________________________




4429. AMENDMENT TO RULE 11AC1-1

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

Legal Authority: 15 USC 77c; 15 USC 80b-3; 15 USC 80b-4; 15 USC 80b-11; 
15 USC 78i; 15 USC 78k; 15 USC 78l; 15 USC 78n; 15 USC 78p; 15 USC 78o; 
15 USC 80a-23; 15 USC 80a-20; 15 USC 79t; 15 USC 79q; 15 USC 78ll(d); 
15 USC 78x; 15 USC 78w; 15 USC 78s; 15 USC 80a-37; 15 USC 80a-29; 15 
USC 78q; 15 USC 78m; 15 USC 78k-1; 15 USC 78j; 15 USC 78f; 15 USC 78d; 
15 USC 78c; 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                            09/12/96                    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: 202 942-9643
Email: [email protected]

RIN: 3235-AH00
_______________________________________________________________________




4430. 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

Small Entities Affected: No

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Alton Harvey, Division of Market Regulation, Office of 
Market Supervision, Securities and Exchange Commission
Phone: 202 942-4167
Fax: 202 942-9697
Email: [email protected]

RIN: 3235-AE42
_______________________________________________________________________




4431. 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: Next Action Undetermined

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Thomas C. Etter Jr., Office of Risk Management and 
Control, Division of Market Regulation, Securities and Exchange 
Commission
Phone: 202 942-0178
Fax: 202 942-9695

[[Page 23958]]

Email: [email protected]

RIN: 3235-AH54
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions


Division of Market Regulation



_______________________________________________________________________




4432. ADOPTION OF AMENDMENTS TO THE INTERMARKET TRADING SYSTEM (ITS) 
PLAN TO EXPAND THE ITS/COMPUTER ASSISTED EXECUTION SYSTEM LINKAGE TO ALL 
LISTED SECURITIES

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 adopted 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.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/30/98                    63 FR 40748
NPRM Comment Period End         08/31/98
Final Action                    12/16/99                    64 FR 70297
Final Action Effective          02/14/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

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
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)                  Prerule Stage


Offices and Other Programs



_______________________________________________________________________




4433. 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 Commission is publishing a concept 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                           02/23/00                     65 FR 8896
ANPRM Comment Period End        05/23/00

Regulatory Flexibility Analysis Required: Undetermined

Small Entities Affected: No

Government Levels Affected: Undetermined

Agency Contact: Mary B. Tokar, Office of the Chief Accountant, 
Securities and Exchange Commission
Phone: 202 942-4400

RIN: 3235-AH65
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)            Proposed Rule Stage


Offices and Other Programs



_______________________________________________________________________




4434.  SUPPLEMENTAL FINANCIAL INFORMATION

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 79a et 
seq; 15 USC 80a-1 et seq

CFR Citation: 17 CFR 210; 17 CFR 229

Legal Deadline: None

Abstract: The Commission has proposed amendments to reposition within 
its regulation the requirement for certain registrants to disclose 
changes in their valuation and loss accrual accounts, and to clarify 
the type of information to be disclosed. The Commission also is 
proposing amendments to its rules to require disclosure of information 
concerning tangible and intangible assets and related accumulated 
depreciation, depletion, and amortization.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            01/31/00                     65 FR 4585
NPRM Comment Period End         04/17/00
Final Rule                      09/00/00

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: John W. Albert, Associate Chief Accountant, Securities 
and Exchange Commission
Phone: 202 942-4400

RIN: 3235-AH86

[[Page 23959]]

_______________________________________________________________________




4435.  AUDITOR INDEPENDENCE

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 79a et 
seq; 15 USC 80a-1 et seq

CFR Citation: 17 CFR 10

Legal Deadline: None

Abstract: The Office of the Chief Accountant is considering 
recommending that the Commission publish a release proposing amendments 
to selected auditor independence regulations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/00/00

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Federalism:  Undetermined

Agency Contact: William Scott Bayless, Office of the Chief Accountant, 
Securities and Exchange Commission
Phone: 202 342-4400
Fax: 202 942-9656
Email: [email protected]

RIN: 3235-AH91
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)               Final Rule Stage


Offices and Other Programs



_______________________________________________________________________




4436. 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.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/22/99                    64 FR 19732
NPRM Comment Period End         06/21/99
Final Action                    04/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: Businesses, Governmental Jurisdictions, 
Organizations

Government Levels Affected: Federal, State, Local, Tribal

Agency Contact: Betty Lopez, SEC Operations Center, Securities and 
Exchange Commission, MS 0-5, 6432 General Green Way, Alexandria, VA 
22312-2413
Phone: 202 942-4327

RIN: 3235-AH71
_______________________________________________________________________




4437. SELECTIVE DISCLOSURE AND INSIDER TRADING

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: Not Yet Determined

Legal Deadline: None

Abstract: The Commission proposed new rules concerning selective 
disclosure of material, nonpublic information by issuers, and 
addressing two issues under insider trading law.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/28/99                    64 FR 72590
Comment Period Extended to 04/
28/2000                         03/27/00                    65 FR 16160
NPRM Comment Period End         03/29/00
Final Action                    12/00/00

Regulatory Flexibility Analysis Required: Undetermined

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Richard Levine, Office of the General Counsel, 
Securities and Exchange Commission
Phone: 202 942-0890
Fax: 202 942-9625

RIN: 3235-AH82
_______________________________________________________________________


SECURITIES AND EXCHANGE COMMISSION (SEC)              Completed Actions


Offices and Other Programs



_______________________________________________________________________




4438. AUDIT COMMITTEE DISCLOSURE

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq; 15 USC 79a et 
seq; 15 USC 80a et seq

CFR Citation: 17 CFR 210; 17 CFR 228; 17 CFR 229; 17 CFR 240

Legal Deadline: None

Abstract: The Commission adopted amendments to Rule 10-10 of Regulation 
S-X, Rule 310 of Regulation S-B, and Item 7 of Schedule 14A under the 
Securities Exchange Act of 1934, and adopted new Item 306 of 
Regulations S-K and S-B. These amendments and new item are intended to 
improve disclosure relating to the functioning of corporate audit 
committees and enhance the reliability and credibility of financial 
statements of public companies.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/14/99                    64 FR 55648

[[Page 23960]]

NPRM Comment Period End         11/29/99
Final Action                    12/30/99                    64 FR 73389
Final Action Effective          01/31/00

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Meridith Mitchell, Office of the General Counsel, 
Securities and Exchange Commission
Phone: 202 942-0900

RIN: 3235-AH83
[FR Doc. 00-6929 Filed 04-21-00; 8:45 am]
BILLING CODE 8010-01-F
