[Federal Register Volume 75, Number 79 (Monday, April 26, 2010)]
[Proposed Rules]
[Pages 21963-21971]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-8964]
[[Page 21963]]
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Part XXIII
Securities and Exchange Commission
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###Semiannual Regulatory Agenda###
[[Page 21964]]
SECURITIES AND EXCHANGE COMMISSION (SEC)
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
17 CFR Ch. II
[Release Nos. 33-9112, 34-61714, IA-3001, IC-29175, File No. S7-06-10]
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
(RFA) (Pub. L. No. 96-354, 94 Stat. 1164) (Sep. 19, 1980). Information
in the agenda was accurate on March 12, 2010, the day 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 is now printing in the Federal Register, along
with our preamble, only those agenda entries for which we have
indicated that preparation of a Regulatory Flexibility Act analysis
is required.
The Commission's complete RFA agenda will be available online
at www.reginfo.gov.
DATES: Comments should be received on or before June 30, 2010.
ADDRESSES: Comments may be submitted by any of the following methods:
Electronic comments:
Use the Commission's Internet comment form (http://
www.sec.gov/rules/other.shtml); or
Send an e-mail to [email protected]. Please include File
Number S7-06-10 on the subject line; or
Use the Federal eRulemaking Portal (http://
www.regulations.gov). Follow the instructions for submitting comments.
Paper comments:
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File No. S7-06-10. This file
number should be included on the subject line if e-mail is used. To
help us process and review your comments more efficiently, please
use only one method. The Commission will post all comments on the
Commission's Internet Web site (http://www.sec.gov/rules/
other.shtml). Comments are also available for website viewing and
printing in the Commission's Public Reference Room, 100 F Street
NE., Washington, DC 20549, on official business days between the
hours of 10:00 a.m. and 3:00 p.m. All comments received will be
posted without change; we do not edit personal identifying
information from submissions. You should submit only information
that you wish to make available publicly.
FOR FURTHER INFORMATION CONTACT: Anne Sullivan, Office of the General
Counsel, 202-551-5019.
SUPPLEMENTARY INFORMATION: The RFA requires each Federal agency, during
April and October of each year, to publish in the Federal Register an
agenda identifying rules that the agency expects to consider in the
next 12 months 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 that is included in the agenda (5 U.S.C. 602(d)). Actions that
do not have an estimated date are placed in the long-term category; the
Commission may nevertheless act on items in that category within the
next 12 months. The agenda includes new entries, entries carried over
from prior publications, and rulemaking actions that have been
completed (or withdrawn) since publication of the last agenda.
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
``Investment Company Act''--Investment Company Act of 1940
``Investment Advisers Act''--Investment Advisers Act of 1940
The Commission invites public comment on the agenda and on the
individual agenda entries.
By the Commission.
Dated: March 16, 2010.
Elizabeth M. Murphy,
Secretary.
DIVISION OF CORPORATION FINANCE--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
418 Voluntary Filers...................................................................... 3235-AK59
419 Risk Disclosures...................................................................... 3235-AK58
420 Revisions to Regulation D............................................................. 3235-AK52
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[[Page 21965]]
DIVISION OF CORPORATION FINANCE--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
421 Proxy Solicitation Enhancements....................................................... 3235-AK28
----------------------------------------------------------------------------------------------------------------
DIVISION OF CORPORATION FINANCE--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
422 Amendments to Rules Requiring Internet Availability of Proxy Materials................ 3235-AK25
----------------------------------------------------------------------------------------------------------------
DIVISION OF INVESTMENT MANAGEMENT--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
423 Temporary Rule Regarding Principal Trades With Certain Advisory Clients............... 3235-AJ96
424 Indexed Annuities and Certain Other Insurance Contracts............................... 3235-AK49
----------------------------------------------------------------------------------------------------------------
DIVISION OF INVESTMENT MANAGEMENT--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
425 Amendments to Form ADV................................................................ 3235-AI17
----------------------------------------------------------------------------------------------------------------
DIVISION OF INVESTMENT MANAGEMENT--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
426 Custody of Funds or Securities of Clients by Investment Advisers...................... 3235-AK32
427 Interagency Proposal for Model Privacy Form Under the Gramm-Leach-Bliley Act.......... 3235-AJ06
----------------------------------------------------------------------------------------------------------------
DIVISION OF TRADING AND MARKETS--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
428 Amendments to Rule 17a-5.............................................................. 3235-AK56
429 Publication or Submission of Quotations Without Specified Information................. 3235-AH40
----------------------------------------------------------------------------------------------------------------
DIVISION OF TRADING AND MARKETS--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
430 Proposed Amendment to Municipal Securities Disclosure................................. 3235-AJ66
431 Nationally Recognized Statistical Rating Organizations................................ 3235-AK14
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[[Page 21966]]
DIVISION OF TRADING AND MARKETS--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
432 Rule 15c2-2: Confirmation of Transactions in Open-End Management Investment Company 3235-AJ11
Shares, Unit Investment Trust Interests, and Municipal Fund Securities Used for
Education Savings.....................................................................
433 Rule 15c2-3: Point-of-Sale Disclosure of Purchases in Open-End Management Investment 3235-AJ12
Company Shares, Unit Investment Trust Interests, and Municipal Fund Securities Used
for Education Savings.................................................................
434 Rule 15c-100: Schedule 15C............................................................ 3235-AJ13
435 Rule 15c-101: Schedule 15D............................................................ 3235-AJ14
436 Processing of Reorganization Events, Tender Offers, and Exchange Offers............... 3235-AH53
----------------------------------------------------------------------------------------------------------------
DIVISION OF TRADING AND MARKETS--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
437 Amendments to Regulation SHO.......................................................... 3235-AK35
----------------------------------------------------------------------------------------------------------------
_______________________________________________________________________
Securities and Exchange Commission (SEC) Proposed Rule Stage
Division of Corporation Finance
_______________________________________________________________________
418. VOLUNTARY FILERS
Legal Authority: Not Yet Determined
Abstract: The Division is considering recommending that the Commission
propose amendments to require registrants who do not have a filing
obligation under the Exchange Act to file any reports with the
Commission in compliance with Commission rules.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 03/00/11
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Sean Harrison, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-3430
RIN: 3235-AK59
_______________________________________________________________________
419. RISK DISCLOSURES
Legal Authority: Not Yet Determined
Abstract: The Division is considering recommending that the Commission
propose amendments to its rules and forms to consolidate and enhance
the risk disclosures provided by registrants.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 12/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Jennifer Zapraka, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20016
Phone: 202 551-3430
RIN: 3235-AK58
_______________________________________________________________________
420. REVISIONS TO REGULATION D
Legal Authority: 15 USC 77b(a)(15); 15 USC 77b(b); 15 USC 77d; 15 USC
77r; 15 USC 77s; 15 USC 77s(a); 15 USC 77z-3
Abstract: The Division is considering recommending that the Commission
propose revisions to Regulation D, including, among other things,
revisions to the accredited investor eligibility standards.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 09/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Anthony G. Barone, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-3460
RIN: 3235-AK52
_______________________________________________________________________
Securities and Exchange Commission (SEC) Final Rule Stage
Division of Corporation Finance
_______________________________________________________________________
421. PROXY SOLICITATION ENHANCEMENTS
Legal Authority: 15 USC 78n
Abstract: The Commission proposed amendments to its proxy rules to
clarify the manner in which they operate and address issues that have
arisen in the proxy solicitation process. The Division is considering
recommending that the Commission adopt amendments relating to the
proposals.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/17/09 74 FR 35076
NPRM Comment Period End 09/15/09
Final Action 12/23/09 74 FR 68334
[[Page 21967]]
Final Action Effective 02/28/10
Final Action 04/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Mark W. Green, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549-0301
Phone: 202 551-3440
Email: [email protected]
RIN: 3235-AK28
_______________________________________________________________________
Securities and Exchange Commission (SEC) Completed Actions
Division of Corporation Finance
_______________________________________________________________________
422. AMENDMENTS TO RULES REQUIRING INTERNET AVAILABILITY OF PROXY
MATERIALS
Legal Authority: 15 USC 78c(b); 15 USC 78j; 15 USC 78m; 15 USC 78n; 15
USC 78o; 15 USC 78w(a); 15 USC 78mm; 15 USC 80a-20; 15 USC 80a-29; 15
USC 80a-37
Abstract: The Commission adopted revisions to the notice and access
model for providing proxy materials to shareholders electronically.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 10/21/09 74 FR 53954
NPRM Comment Period End 11/20/09
Final Action 02/27/10 75 FR 9074
Final Action Effective 03/29/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Steven Hearne, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-3430
RIN: 3235-AK25
_______________________________________________________________________
Securities and Exchange Commission (SEC) Proposed Rule Stage
Division of Investment Management
_______________________________________________________________________
423. TEMPORARY RULE REGARDING PRINCIPAL TRADES WITH CERTAIN ADVISORY
CLIENTS
Legal Authority: 15 USC 80b-6a; 15 USC 80b-11(a)
Abstract: The Commission adopted an interim final temporary rule that
was set to expire on December 31, 2009, to provide an alternative means
for investment advisers who are registered with the Commission as
broker-dealers to meet the requirements of section 206(3) of the
Investment Advisers Act when acting in a principal capacity in
transactions with certain of their advisory clients. In December 2009,
the Commission extended the expiration date until December 2010.
As contemplated in the temporary rule release, the Division has been
assessing the operation of the temporary rule as well as public comment
letters, and will consider whether to propose to continue the rule
beyond the revised sunset date and, if so, what if any modifications
should be proposed to the rule.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
Interim Final Rule 09/28/07 72 FR 55022
Interim Final Rule Effective 09/30/07
Interim Final Rule Comment
Period End 11/30/07
Interim Final Rule Extension 12/30/09 74 FR 690009
Interim Final Rule Effective 12/30/09
NPRM 05/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Matthew Goldin, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-6726
Fax: 202 772-9284
Email: [email protected]
RIN: 3235-AJ96
_______________________________________________________________________
424. INDEXED ANNUITIES AND CERTAIN OTHER INSURANCE CONTRACTS
Legal Authority: 15 USC 77c(a)(8); 15 USC 77s(a); 15 USC 78l(h); 15 USC
78o; 15 USC 78w(a); 15 USC 78mm
Abstract: A Federal appeals court issued an opinion on July 21, 2009,
remanding SEC Rule 151A. A party has petitioned the court for panel
rehearing, and that petition is currently pending. The Commission staff
is evaluating what recommendation to make to the Commission on how to
respond to the court's decision.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 05/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Michael Kosoff, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-6754
Fax: 202 772-9285
Email: [email protected]
RIN: 3235-AK49
[[Page 21968]]
_______________________________________________________________________
Securities and Exchange Commission (SEC) Final Rule Stage
Division of Investment Management
_______________________________________________________________________
425. AMENDMENTS TO FORM ADV
Legal Authority: 15 USC 80b-4, 80b-6(4), 80b-ll(a), 80b-3(c)(1); 15 USC
77s(a); 15 USC 78(wa), 78bb(e)(2); 15 USC 77sss(a); 15 USC 78a-37(a)
Abstract: The Commission proposed amendments to Form ADV part 2 to
require registered investment advisers to deliver to clients and
prospective clients a brochure written in plain English.
The amendments are designed to require advisers to provide clients and
prospective clients with clear, current, and more meaningful disclosure
of the business practices, conflicts of interest, and background of
investment advisers and their advisory personnel. Under the proposal,
advisers would file their brochures with the Commission electronically,
and the brochures would be available to the public through the
Commission's Web site.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/17/00 65 FR 20524
NPRM Comment Period End 06/03/00
Second NPRM 03/14/08 73 FR 13958
Second NPRM Comment Period End 05/16/08
Final Action 07/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Sarah Ten Siethoff, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-6729
Email: [email protected]
RIN: 3235-AI17
_______________________________________________________________________
Securities and Exchange Commission (SEC) Completed Actions
Division of Investment Management
_______________________________________________________________________
426. CUSTODY OF FUNDS OR SECURITIES OF CLIENTS BY INVESTMENT ADVISERS
Legal Authority: 15 USC 80b-6(4); 15 USC 80b-4; 15 USC 80b-11; 15 USC
80b-3(c)(1)
Abstract: The Commission adopted amendments that revise the rule
governing custody of funds or securities of clients by investment
advisers.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 05/27/09 74 FR 25354
NPRM Comment Period End 07/28/09
Final Action 01/11/10 75 FR 1456
Final Action Effective 03/12/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Vivien Liu, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-6728
Email: [email protected]
RIN: 3235-AK32
_______________________________________________________________________
427. INTERAGENCY PROPOSAL FOR MODEL PRIVACY FORM UNDER THE GRAMM-LEACH-
BLILEY ACT
Legal Authority: 15 USC 6804; 15 USC 78q and 78W; 15 USC 80a-30 and
80a-37; 15 USC 80b-4 and 80b-11
Abstract: The Commission, together with the Federal Reserve Board,
Federal Deposit Insurance Corporation, Federal Trade Commission,
National Credit Union Administration, Office of the Comptroller of the
Currency, Office of Thrift Supervision and Commodity Futures Trading
Commission (the Agencies), requested comment on whether the Agencies
should consider amending the regulations that implement the privacy
provisions of the Gramm-Leach-Bliley Act (``GLBA'') to allow or require
financial institutions to provide alternative types of privacy notices
that would be easier for consumers to understand.
Pursuant to the Financial Services Regulatory Relief Act, the Agencies
proposed a model form that may be used at the option of financial
institutions to comply with disclosures required under the privacy
provision of GLBA. The Commission reopened the comment period on the
proposed model privacy notice to solicit public comment on data and a
report on consumer testing of a revised version of the proposed model
privacy form. The Agencies published a final model privacy notice on
November 16, 2009.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
ANPRM 12/30/03 68 FR 75165
ANPRM Comment Period End 03/29/04
NPRM 03/29/07 72 FR 14490
NPRM Comment Period End 05/29/07
Second NPRM 04/20/09 74 FR 17925
Second NPRM Comment Period End 05/20/09
Final Action 12/01/09 74 FR 62890
Final Action Effective 12/31/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Thoreau Adrian Bartmann, Division of Investment
Management, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549
Phone: 202 551-6792
Email: [email protected]
RIN: 3235-AJ06
_______________________________________________________________________
Securities and Exchange Commission (SEC) Proposed Rule Stage
Division of Trading and Markets
_______________________________________________________________________
428. AMENDMENTS TO RULE 17A-5
Legal Authority: 15 USC 78q
Abstract: The Division is considering recommending that the Commission
propose amendments to Rule 17a-5 dealing with, among other things,
broker-dealer custody of assets.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 06/00/10
[[Page 21969]]
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Rebekah Goshorn, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5514
Fax: 202 772-9333
Email: [email protected]
RIN: 3235-AK56
_______________________________________________________________________
429. PUBLICATION OR SUBMISSION OF QUOTATIONS WITHOUT SPECIFIED
INFORMATION
Legal Authority: 15 USC 78c; 15 USC 78j(b); 15 USC 78o(c); 15 USC
78o(g); 15 USC 78q(a); 15 USC 78w(a)
Abstract: As part of its efforts to respond to fraud and manipulation
in the microcap securities market, the Commission proposed amendments
to Rule 15c2-11. These amendments would limit the rule's piggyback
provision and increase public availability of issuer information. The
amendments would expand the information review requirements for non-
reporting issuers and the documentation required for significant
relationships between the broker-dealer and the issuer of the security
to be quoted. Finally, the amendments would exclude from the rule
securities of larger, more liquid issuers.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/25/98 63 FR 9661
NPRM Comment Period End 04/27/98
Second NPRM 03/08/99 64 FR 11124
Second NPRM Comment Period End 04/07/99
Second NPRM Comment Period
Extended 04/14/99 64 FR 18393
Comment Period End 05/08/99
Third NPRM 12/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Victoria L. Crane, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5744
Fax: 202 772-9355
Email: [email protected]
RIN: 3235-AH40
_______________________________________________________________________
Securities and Exchange Commission (SEC) Final Rule Stage
Division of Trading and Markets
_______________________________________________________________________
430. PROPOSED AMENDMENT TO MUNICIPAL SECURITIES DISCLOSURE
Legal Authority: 15 USC 78b; 15 USC 78c(b); 15 USC 78j; 15 USC 78o(c);
15 USC 78o-4; 15 USC 78q; 15 USC 78w(a)(1)
Abstract: The Commission proposed amending Rule 15c2-12 under section
15 of the Exchange Act to improve the system of continuing disclosure
previously established by Rule 15c2-12. The Division and the Division
of Corporation Finance are considering recommending that the Commission
publish an interpretive release for the municipal securities markets
that would update previously published guidance to reflect changes in
that market.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/24/09 74 FR 36832
NPRM Comment Period End 09/08/09
Final Action 07/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Martha Mahan Haines, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5681
Fax: 703 772-9274
Email: [email protected]
RIN: 3235-AJ66
_______________________________________________________________________
431. NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATIONS
Legal Authority: 15 USC 78o-7; 15 USC 89q
Abstract: The Commission adopted rule amendments that impose additional
requirements on nationally recognized statistical rating organizations
(``NRSROs'') in order to address concerns about the integrity of their
credit rating procedures and methodologies at NRSROs. The Commission
simultaneously proposed rule amendments and a new rule that would
require an NRSRO to furnish a new annual report by the firm's
designated compliance officers to disclose additional information about
firm sources of revenue, and to make publicly available a consolidated
report about revenues attributable to persons paying the NRSRO for the
issuance or maintenance of a credit rating.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 06/25/08 73 FR 36212
NPRM Comment Period End 07/25/08
Final Rule 02/09/09 74 FR 6465
Second NPRM 02/09/09 74 FR 6485
Second NPRM Comment Period End 03/26/09
Final Rule 12/04/09 74 FR 63832
Final Rule Effective 02/01/10
Third NPRM 12/04/09 74 FR 63866
Third NPRM Comment Period End 02/02/10
Final Action 06/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Sheila Swartz, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5545
Fax: 202 772-9273
Email: [email protected]
RIN: 3235-AK14
[[Page 21970]]
_______________________________________________________________________
Securities and Exchange Commission (SEC) Long-Term Actions
Division of Trading and Markets
_______________________________________________________________________
432. RULE 15C2-2: CONFIRMATION OF TRANSACTIONS IN OPEN-END MANAGEMENT
INVESTMENT COMPANY SHARES, UNIT INVESTMENT TRUST INTERESTS, AND
MUNICIPAL FUND SECURITIES USED FOR EDUCATION SAVINGS
Legal Authority: 15 USC 78j; 15 USC 78k; 15 USC 78o; 15 USC 78q; 15 USC
78w(a); 15 USC 78mm
Abstract: The Commission proposed new Rule 15c2-2 under the Exchange
Act, together with accompanying Schedule 15C. The Commission also
proposed related amendments to Rule 10b-10. Proposed Rule 15c2-2 and
Schedule 15C would provide for improved confirmation disclosure of
distribution costs and conflicts of interest associated with
transactions in mutual funds, municipal fund securities, and unit
investment trusts. The amendments to Rule 10b-10 in part would reflect
the new rule and would provide improved confirmation disclosure about
certain callable securities. They also would clarify that the
confirmation disclosure requirements do not determine broker-dealer
disclosure obligations under other provisions of the law.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/10/04 69 FR 6438
NPRM Comment Period End 04/12/04
NPRM Comment Period Extended 03/04/05 70 FR 10521
NPRM Comment Period End 04/04/05
Next Action Undetermined
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Alicia Goldin, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5618
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AJ11
_______________________________________________________________________
433. RULE 15C2-3: POINT-OF-SALE DISCLOSURE OF PURCHASES IN OPEN-END
MANAGEMENT INVESTMENT COMPANY SHARES, UNIT INVESTMENT TRUST INTERESTS,
AND MUNICIPAL FUND SECURITIES USED FOR EDUCATION SAVINGS
Legal Authority: 15 USC 78j; 15 USC 78k; 15 USC 78o; 15 USC 78q; 15 USC
78w(a); 15 USC 78mm
Abstract: The Commission proposed new Rule 15c2-3 under the Exchange
Act, together with accompanying Schedule 15D. Proposed Rule 15c2-3 and
Schedule 15D would provide for pre-transaction ``point of sale''
disclosure of distribution costs and conflicts of interest associated
with transactions in mutual funds, municipal fund securities, and unit
investment trusts.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/10/04 69 FR 6438
NPRM Comment Period End 04/12/04
NPRM Comment Period Extended 03/04/05 70 FR 10521
NPRM Comment Period End 04/04/05
Next Action Undetermined
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Alicia Goldin, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5618
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AJ12
_______________________________________________________________________
434. RULE 15C-100: SCHEDULE 15C
Legal Authority: 15 USC 78j; 15 USC 78k; 15 USC 78o; 15 USC 78q; 15 USC
78w(a); 15 USC 78mm
Abstract: The Commission proposed new Schedule 15C and Rules 15c2-2 and
15c2-3 under the Exchange Act, together with accompanying Schedule 15D.
The Commission also proposed related amendments to Rule 10b-10.
Proposed Rules 15c2-2 and 15c2-3 and Schedules 15C and 15D would
provide for improved confirmation and pre-transaction ``point of sale''
disclosure of distribution costs and conflicts of interest associated
with transactions in mutual funds, municipal fund securities, and unit
investment trusts. The amendments to Rule 10b-10 in part would reflect
the new rules and would provide improved confirmation disclosure about
certain callable securities. They also would clarify that the
confirmation disclosure requirements do not determine broker-dealer
disclosure obligations under other provisions of the law.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/10/04 69 FR 6438
NPRM Comment Period End 04/12/04
NPRM Comment Period Extended 03/04/05 70 FR 10521
NPRM Comment Period End 04/04/05
Next Action Undetermined
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Alicia Goldin, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5618
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AJ13
_______________________________________________________________________
435. RULE 15C-101: SCHEDULE 15D
Legal Authority: 15 USC 78j; 15 USC 78k; 15 USC 78o; 15 USC 78q; 15 USC
78w(a); 15 USC 78mm
Abstract: The Commission proposed new Rule 15c2-3 under the Exchange
Act, together with accompanying Schedule 15D. Proposed Rule 15c2-3 and
Schedule 15D would provide for pre-transaction ``point of sale''
disclosure of distribution costs and conflicts of interest associated
with transactions in mutual funds, municipal fund securities, and unit
investment trusts.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/10/04 69 FR 6438
NPRM Comment Period End 04/12/04
NPRM Comment Period Extended 03/04/05 70 FR 10521
NPRM Comment Period End 04/04/05
Next Action Undetermined
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Alicia Goldin, Division of Trading and Markets,
[[Page 21971]]
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5618
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AJ14
_______________________________________________________________________
436. PROCESSING OF REORGANIZATION EVENTS, TENDER OFFERS, AND EXCHANGE
OFFERS
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)
Abstract: The Commission proposed amendments to Rule 17Ad-14 under the
Exchange Act. The amendments would require the establishment of book-
entry accounts in connection with reorganization events and would give
securities depositories up to 3 business days after the expiration of a
tender offer, exchange offer, or reorganization event to deliver
physical securities certificates to the agents.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 09/04/98 63 FR 47209
NPRM Comment Period End 11/03/98
Next Action Undetermined
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Jerry Carpenter, Division of Market Regulation,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5710
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AH53
_______________________________________________________________________
Securities and Exchange Commission (SEC) Completed Actions
Division of Trading and Markets
_______________________________________________________________________
437. AMENDMENTS TO REGULATION SHO
Legal Authority: 15 USC 78j(a); 15 USC 78w(a)
Abstract: The Commission proposed two approaches to restrictions on
short selling: Short sale price test restrictions that would apply on a
market-wide and permanent basis, or short sale circuit breaker
restrictions that would apply only to a particular security during
severe market declines in the price of that security. It adopted a
short sale circuit breaker that, if triggered, prohibits (with limited
exceptions) short selling at any price that is at or below the national
best bid (``short sale price test'' or ``short sale price test
restriction'').
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 04/20/09 74 FR 18042
NPRM Comment Period End 06/19/09
NPRM Comment Period Reopened 08/20/09 74 FR 42033
NPRM Comment Period End 09/21/09
Final Action 03/10/10 75 FR 11232
Final Action Effective 05/10/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Josephine J. Tao, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5720
RIN: 3235-AK35
[FR Doc. 2010-8964 Filed 04-23-10; 8:45 am]
BILLING CODE 8011-01-S