[Federal Register Volume 62, Number 12 (Friday, January 17, 1997)]
[Proposed Rules]
[Page 2633]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-1221]
[[Page 2633]]
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 240
[Release No. 34-38159; File No. S7-27-96]
RIN 3235-AH04
Books and Records Requirements for Brokers and Dealers Under the
Securities Exchange Act of 1934
AGENCY: Securities and Exchange Commission.
ACTION: Proposed rule; extension of the comment period.
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SUMMARY: The Securities and Exchange Commission (``Commission'') is
extending from December 27, 1996, until March 31, 1997, the comment
period for Securities Exchange Act Release No. 37850 (October 22,
1996), 61 FR 55593 (October 28, 1996). In the release the Commission
proposed amendments to the broker-dealer books and records rules.
DATES: Comments on the release should be submitted on or before March
31, 1997.
ADDRESSES: Comments should be submitted in triplicate to Jonathan G.
Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street,
N.W., Washington D.C. 20549, and should refer to File No. S7-27-96.
Comments also may be submitted electronically at the following E-mail
address: [email protected]. The file number should be included on
the subject line if E-mail is used. Comment letters will be available
for public inspection and copying at the Commission's public reference
room, 450 Fifth St., N.W., Washington D.C. 20549. Electronically
submitted comment letters will be posted on the Commission's Internet
Web site (http://www.sec.gov).
FOR FURTHER INFORMATION CONTACT: Michael A. Macchiaroli, Associate
Director at (202) 942-0131; Peter R. Geraghty, Assistant Director at
(202) 942-0177; Matthew G. McGuire, Attorney at (202) 942-7103; or
Michael E. Greene, Attorney at (202) 942-4169; Office of Risk
Management and Control, Division of Market Regulation, Mail Stop 5-1,
Securities and Exchange Commission, Washington, D.C. 20549.
SUPPLEMENTARY INFORMATION: On October 22, 1996, the Commission proposed
amendments to Rules 17a-3 1 and 17a-4,2, the broker-dealer
books and records rules. The proposed amendments clarify, modify, and
expand recordkeeping requirements with respect to purchase and sale
documents, customer records, associated person records, customer
complaints, and certain other matters. In addition, the proposed
amendments specify certain types of books and records that broker-
dealers must make available in their local offices. The Commission is
proposing amendments to the books and records rules in response to
certain concerns raised by members of the North American Securities
Administrators Association. The proposed amendments are intended to
obligate broker-dealers to make and retain certain additional records
that would be available to state regulators during examination and
enforcement proceedings. The Commission originally requested that
comments on the proposed rulemaking be received by December 27, 1996.
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\1\ 17 CFR 240.17a-3.
\2\ 17 CFR 240.17a-4.
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Based on requests from prospective commenters, including NASD
Regulation, Inc. and the New York Stock Exchange, and the Commission's
desire to consider the views of all interested persons on the subject,
the Commission believes that an extension of the comment period is
appropriate. Therefore, the comment period for responding to Securities
Exchange Act Release No. 37850 is extended from December 27, 1996,
until March 31, 1997.
Dated: January 13, 1997.
By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-1221 Filed 1-16-97; 8:45 am]
BILLING CODE 8010-01-P