[Unified Agenda of Federal Regulations]
[Securities and Exchange Commission Semiannual Regulatory Agenda
]
[From the U.S. Government Printing Office, www.gpo.gov]
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Part LXI
Securities and Exchange Commission
_______________________________________________________________________
Semiannual Regulatory Agenda
=======================================================================
SECURITIES AND EXCHANGE COMMISSION (SEC)
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
17 CFR Ch. II
[Release Nos. 33-7051, 34-33808, 35-26009, 39-2319, IC-20157, IA-1407;
File No. S7-10-94]
Regulatory Flexibility Agenda
AGENCY: Securities and Exchange Commission.
ACTION: Publication of regulatory flexibility agenda.
_______________________________________________________________________
SUMMARY: The Securities and Exchange Commission is publishing an agenda
of its rulemaking actions, pursuant to chapter 6 of the Administrative
Procedure Act. Information in the agenda is believed to be accurate as
of February 11, 1994, the date on which the Commission's staff
completed compilation of the data. The Commission invites questions and
public comment on the agenda and on the individual agenda entries.
DATES: Public comments are due by May 31, 1994.
ADDRESSES: Persons wishing to submit written comments should file three
copies of their comments with Jonathan G. Katz, Secretary, Securities
and Exchange Commission, 450 5th Street NW., Room 6184, Stop 6-9,
Washington, DC 20549. All submissions should refer to File No. S7-10-94
and will be available for public inspection and copying at the
Commission's Public Reference Room, Room 1026, at the same address.
FOR FURTHER INFORMATION CONTACT: Kevin M. Kirchoff, Senior Counsel,
Office of the General Counsel, Securities and Exchange Commission, 450
5th Street NW., Room 6146, Stop 6-6, Washington, DC 20549, (202) 272-
2428. Each specific item on the agenda indicates the names and
addresses of persons to contact with regard to such item.
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 Commission's April 1994 regulatory flexibility agenda is
set forth below. The Commission invites public comment on the
agenda and on the individual agenda entries.
Dated: March 24, 1994.
By the Commission.
Jonathan G. Katz,
Secretary.
Prerule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
5012 17 CFR 274.11A Technical Amendments to Rules 24f-1 and 24f-2......................... 3235-AC25
5013 17 CFR 240.19h-1 Notice By SRO of Proposed Admission to or Continuance in Membership
With Any Person Subject to a Statutory Disqualification............................... 3235-AE39
5014 17 CFR 230.482 Amendments to Investment Company Registration Form N-1A and Other
Forms................................................................................. 3235-AE46
5015 17 CFR 230 American Depositary Receipts.............................................. 3235-AE57
5016 17 CFR 240.10b-6 Prohibitions Against Trading by Persons Interested in a
Distribution; Stabilizing To Facilitate a Distribution; Distributions Through Rights.. 3235-AF54
5017 17 CFR 240.16a-1 to 240.16a-11 Ownership Reports and Trading by Officers, Directors,
and Principal Security Holders........................................................ 3235-AF66
5018 17 CFR 270.30f-1 Applicability of Section 30(f) of the Investment Company Act of 1940
to Certain Affiliated Persons of an Investment Adviser to a Registered Closed-End
Investment Company.................................................................... 3235-AF81
5019 17 CFR 271 to 276 Staff Interpretive Statement on Wrap Fee Programs.................. 3235-AG07
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Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
5020 17 CFR 239.16 Simplification of Registration Statements Filed by, and Advertising
Rules for, Unit Investment Trusts..................................................... 3235-AA47
5021 17 CFR 270.6c-12(New) Rule 6c-12 Under the Investment Company Act of 1940............ 3235-AC84
5022 17 CFR 275 Revisions to the Registration and the Annual Supplement Forms Used by
Investment Advisers................................................................... 3235-AD21
5023 17 CFR 240.15c3-3 Customer Protection Reserves and Custody of Securities............. 3235-AD60
5024 17 CFR 240.14e-5 Debt Tender Offers.................................................. 3235-AD69
5025 17 CFR 210.3-20 Reporting Currency in Financial Statements Under Rule 3-20 of
Regulation S-X........................................................................ 3235-AD70
5026 17 CFR 240.15c3-1 Net Capital Requirements for Brokers or Dealers.................... 3235-AD79
5027 17 CFR 240.15c2-11 Initiation or Resumption of Quotations Without Specific
Information........................................................................... 3235-AD94
5028 17 CFR 240.10b-7 Stabilizing To Facilitate a Distribution............................ 3235-AE11
5029 17 CFR 240.3b-10 Definitions Principally Relating to International Transactions...... 3235-AE15
5030 17 CFR 230.482 Tax Exempt Money Market Fund Rule Proposals........................... 3235-AE17
5031 17 CFR 240.17Ad-16 Notice of Assumption or Termination of Transfer Agent Services.... 3235-AE20
5032 17 CFR 240.3b-3 Definition of ``Short Sale''......................................... 3235-AE41
5033 17 CFR 240.13h-1 Large Trader Reporting System....................................... 3235-AE42
5034 17 CFR 240.31-1 Securities Transactions Exempt From Transaction Fees................. 3235-AE52
5035 17 CFR 270.31a-1 Investment Company Books and Records Requirements................... 3235-AE94
5036 17 CFR 270.3a-5 Exemption for Subsidiaries Organized to Finance Operations of
Domestic or Foreign Companies......................................................... 3235-AE95
5037 17 CFR 270.17f-5 Rule 17f-5 Under the Investment Company Act of 1940................. 3235-AE98
5038 17 CFR 270.15a-4 Temporary Exemption for Certain Investment Advisers................. 3235-AF57
5039 17 CFR 270.12b-1 Amendments to Rules 12b-1 and 17d-3 Under the Investment Company Act
of 1940............................................................................... 3235-AF62
5040 17 CFR 270.17f-2 Rule 17f-2 Under the Investment Company Act--Custody of Investments
by Registered Management Investment Company........................................... 3235-AF70
5041 17 CFR 229 Asset-Backed Securities Disclosure........................................ 3235-AF74
5042 17 CFR 250.55 Exemption for Certain Acquisitions of One or More Foreign Utility
Companies............................................................................. 3235-AF78
5043 17 CFR 240.10b-10 Amendments to Confirmation Requirements of Rule 10b-10............. 3235-AF84
5044 17 CFR 240.3a12-8 Amendment to Rule 3a12-8 Under the Securities Exchange Act of 1934. 3235-AF88
5045 17 CFR 270.9a-1 Rule 9a-1: Exemption From Disqualification for Certain Affiliated
Persons............................................................................... 3235-AF89
5046 17 CFR 249.330 Amendments to Form-N-SAR, Semi-Annual Report of Registered Investment
Companies............................................................................. 3235-AF93
5047 17 CFR 210 Accounting Treatment of Investment Company Expenses Paid Through Brokerage
Commission............................................................................ 3235-AF94
5048 17 CFR 230.482 Proposed Amendments to Form N-1A Pertaining to Money Market Funds..... 3235-AF95
5049 17 CFR 270.17f-6 Custody of Investment Company Assets With Futures Commission
Merchants and Commodity Clearing Organizations........................................ 3235-AF97
5050 17 CFR 240.10b-10(a)(7)(iii) Disclosure of Payment for Order Flow.................... 3235-AG00
5051 17 CFR 240.17a-23 Recordkeeping and Reporting Requirements for Trading Systems
Operated by Brokers and Dealers....................................................... 3235-AG03
5052 17 CFR 250.46 Dividend Declarations and Payments on Certain Indebtedness............. 3235-AG04
5053 17 CFR 259.313 Annual Report of Mutual and Subsidiary Service Companies.............. 3235-AG05
5054 17 CFR 275.204-2 Suitability of Investment Advice Provided by Investment Advisers;
Custodial Account Statements To Be Sent to Certain Advisory Clients................... 3235-AG06
5055 17 CFR 230.178 Disclosure of Information Required by Section 17(b) of the Securities
Act of 1933........................................................................... 3235-AG08
5056 17 CFR 229.901 Limited Partnership Roll-up Transactions.............................. 3235-AG09
5057 17 CFR 249.3A12-11 New Exemptive Relief and Simplification of Filing Requirements for
Debt Securities To Be Listed on a National Securities Exchange........................ 3235-AG11
5058 17 CFR 240.15c2-13 New Rule 15c2-13 Requiring Disclosure of Mark-ups................. 3235-AG12
5059 17 CFR 240.15c2-12 Municipal Securities Disclosure................................... 3235-AG13
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Final Rule Stage
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Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
5060 17 CFR 240.14a-1 to 240.14a-102 Revision of Investment Company Proxy Rules........... 3235-AA69
5061 17 CFR 240.13d-1 Regulation 13D-G.................................................... 3235-AD09
5062 17 CFR 230.801(New) Rule 801 and Registration Forms for Rights Offerings............. 3235-AD44
5063 17 CFR 270.31a-2 Amendment to Rule 31a-2 Under the Investment Company Act of 1940.... 3235-AD66
5064 17 CFR 240.12g3-2(b) Forms for Furnishing Information Pursuant to Rule 12g3-2(b)
Under the Securities Exchange Act of 1934............................................. 3235-AD72
5065 17 CFR 230 Summary Prospectuses...................................................... 3235-AD90
5066 17 CFR 200 International Tender and Exchange Offers.................................. 3235-AD97
5067 17 CFR 270.6c-10 Exemptions for Certain Registered Open-End Management Investment
Companies To Impose Deferred Sales Loads.............................................. 3235-AE97
5068 17 CFR 270.18f-3 (New) Exemption for Open-End Management Investment Companies Issuing
Multiple Classes of Shares; Disclosure by Multiple Class and Master-Feeder Funds...... 3235-AF00
5069 17 CFR 250.45 Revision of Registered Public Utility Company Financing Rules.......... 3235-AF49
5070 17 CFR 200.30-5 Expedited Procedure for Exemptive Orders and Expanded Delegated
Authority............................................................................. 3235-AF56
5071 17 CFR 230.482 Off-the-Page Prospectuses for Open-End Management Investment Companies 3235-AF58
5072 17 CFR 250.7 Proposals To Update Rules and Forms Under the Public Utility Holding
Company Act........................................................................... 3235-AF68
5073 17 CFR 270.3a-8 Certain Research and Development Companies........................... 3235-AF69
5074 17 CFR 250.56 Exemption for Subsidiary Companies of Registered Holding Companies
Formed to Hold Interests in Foreign Companies......................................... 3235-AF79
5075 17 CFR 230 Simplification of Registration Procedures for Securities Offerings by
Foreign Private Issuers............................................................... 3235-AF83
5076 17 CFR 230.415 Continuous or Delayed Offerings by Certain Closed-End Management
Investment Companies; Automatic Effectiveness of Certain Registration Statements...... 3235-AF86
5077 17 CFR 250.87 Subsidiaries Authorized To Perform Services or Construction or To Sell
Goods................................................................................. 3235-AF87
5078 17 CFR 201 Rules of Practice......................................................... 3235-AF91
5079 17 CFR 200.30-5 Effective Date of Post-Effective Amendments Filed by Certain
Registered Investment Companies, Separate Accounts of Insurance Companies and Certain
Closed-End Management Investment Companies............................................ 3235-AF96
5080 17 CFR 270.0-1 Redemptions by Open-End Management Investment Companies at Periodic
Intervals or With Extended Payment.................................................... 3235-AF98
5081 17 CFR 275 Disclosure by Investment Adviser Regarding Wrap Fee Programs.............. 3235-AG02
5082 17 CFR 228 EDGAR Implementation...................................................... 3235-AG10
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Completed Actions
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Regulation
Sequence Title Identifier
Number Number
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5083 17 CFR 240.15c2-10 Rule 15c2-10...................................................... 3235-AC94
5084 17 CFR 240.15c3-1 Net Capital Requirements for Brokers or Dealers.................... 3235-AD62
5085 17 CFR 210.3-19 Special Provisions as to Age of Financial Statements for Foreign
Private Issuers Under Regulation S-X.................................................. 3235-AD96
5086 17 CFR 240.17a-3 Designation of Orders as ``Solicited'' and ``Unsolicited''.......... 3235-AE18
5087 17 CFR 210 Multijurisdictional Disclosure With the United Kingdom.................... 3235-AE23
5088 17 CFR 270.12d3-1 Amendments to Rule 12d3-1 Under the Investment Company Act of 1940. 3235-AE47
5089 17 CFR 270.2a19-2 Investment Company General Partners Not Deemed Interested Persons;
Investment Company Limited Partners Not Deemed Affiliated Persons..................... 3235-AF01
5090 17 CFR 270.10f-3 Revision of Certain Annual Review Requirements of Investment Company
Boards of Directors................................................................... 3235-AF60
5091 17 CFR 240.24c-1(New) Access to Nonpublic Information in the Commission's Possession. 3235-AF72
5092 17 CFR 240.17a-5 Reports To Be Made by Certain Brokers and Dealers................... 3235-AF73
5093 17 CFR 229 Amendments to the Multijurisdictional Disclosure System................... 3235-AF75
5094 17 CFR 250.54 Effect of Exempt Wholesale Generators on Other Transactions............ 3235-AF77
5095 17 CFR 250.57 Notices and Reports Concerning Acquisition of Foreign Utility Companies 3235-AF80
5096 17 CFR 250.53 Certain Registered Holding Company Financings in Connection With the
Acquisition of One or More Exempt Wholesale Generators................................ 3235-AF82
5097 17 CFR 240.15c6-1 Securities Transactions Settlement................................. 3235-AF85
5098 17 CFR 240.3a51-1 Penny Stock Definition for Purposes of the Blank Check Rule........ 3235-AF90
5099 17 CFR 229.402 Executive Compensation Disclosure..................................... 3235-AF92
5100 17 CFR 270.3a-4 Rulemaking Regarding Individualized Investment Advisory Program...... 3235-AF99
5101 17 CFR 240.14a-6 Limitation of Filing Requirements for Preliminary Proxy Materials
Under Certain Circumstances........................................................... 3235-AG01
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_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Prerule Stage
_______________________________________________________________________
5012. TECHNICAL AMENDMENTS TO RULES 24F-1 AND 24F-2
Legal Authority: 15 USC 80a-8; 15 USC 80a-58; 15 USC 80a-24
CFR Citation: 17 CFR 274.11A; 17 CFR 270.24f-1; 17 CFR 270.24f-2
Legal Deadline: None
Abstract: The Division of Investment Management is considering changes
in rules 24f-1 and 24f-2, the rules that permit certain investment
companies to register securities sold in excess of the number of shares
included in a registration statement, to clarify the rules' operation
with respect to the measurement of time periods and filing requirements
in the context of investment company reorganizations.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Kenneth J. Berman, Deputy Office Chief, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-5287
RIN: 3235-AC25
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Prerule Stage
_______________________________________________________________________
5013. NOTICE BY SRO OF PROPOSED ADMISSION TO OR CONTINUANCE IN MEMBERSHIP
WITH ANY PERSON SUBJECT TO A STATUTORY DISQUALIFICATION
Legal Authority: 15 USC 78f; 15 USC 78o; 15 USC 78o-3; 15 USC 78o-4;
15 USC 78q; 15 USC 78q-1; 15 USC 78g; 15 USC 78w
CFR Citation: 17 CFR 240.19h-1
Legal Deadline: None
Abstract: The Division of Market Regulation anticipates recommending to
the Commission amendments to Rule 19h-1 under the Securities Exchange
Act of 1934 (``Exchange Act''), which requires self-regulatory
organizations (``SROs'') to submit to the Commission filings whenever a
person subject to a statutory disqualification, as defined in Section
3(a)(39) of the Exchange Act, seeks to become associated with or to
continue an association with a broker-dealer, transfer agent or other
SRO member. The proposed amendments will address changes that have
expanded the types of misconduct that cause an individual to be subject
to a statutory disqualification.
Timetable: Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Richard E. Pullano, Senior Counsel, Division of Market
Regulation, Securities and Exchange Commission, 450 5th Street NW.,
Washington, DC 20549, 202 942-0752
RIN: 3235-AE39
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Prerule Stage
_______________________________________________________________________
5014. AMENDMENTS TO INVESTMENT COMPANY REGISTRATION FORM N-1A AND OTHER
FORMS
Legal Authority: 15 USC 77a et seq; 15 USC 80a-1 et seq
CFR Citation: 17 CFR 230.482; 17 CFR 239.15; 17 CFR 274.11; 17 CFR
239.23; 17 CFR 239.15A; 17 CFR 274.11A; 17 CFR 239.17a; 17 CFR 274.11b;
17 CFR 239.17b; 17 CFR 274.11c
Legal Deadline: None
Abstract: The Division of Investment Management is reviewing the
requirements of Form N-1A, the registration form for all open-end
management investment companies registering under the 1933 and 1940
Acts. The review will focus on ways to update and improve the
disclosure requirements of the form, particularly for money market
funds. The Division will also be addressing the incorporation by
reference rules in the investment company registration forms.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: None
Agency Contact: Kenneth J. Berman, Deputy Office Chief, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2107
RIN: 3235-AE46
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Prerule Stage
_______________________________________________________________________
5015. AMERICAN DEPOSITARY RECEIPTS
Legal Authority: 15 USC 77b; 15 USC 77f; 15 USC 77g; 15 USC 77h; 15
USC 77j; 15 USC 77s; 15 USC 78c; 15 USC 78i; 15 USC 78j; 15 USC 78l; 15
USC 78m; 15 USC 78n; 15 USC 78o; 15 USC 78q
CFR Citation: 17 CFR 230; 17 CFR 239; 17 CFR 240
Legal Deadline: None
Abstract: The Commission issued a release requesting information and
comment with regard to the functioning and characteristics of the
American depositary receipt marketplace, various regulatory issues
under the Federal securities laws, including whether any changes to the
registration process are necessary or appropriate, and duplication of
depositary receipt facilities. The Commission received a large number
of comment letters in response to the release.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
ANPRM 05/23/91 56 FR 24420
ANPRM Comment Period End 09/30/91
Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Paul M. Dudek, Chief, International Corporate Finance,
Securities and Exchange Commission, Division of Corporation Finance,
450 5th Street NW., Washington, DC 20549, 202 272-2585
RIN: 3235-AE57
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Prerule Stage
_______________________________________________________________________
5016. PROHIBITIONS AGAINST TRADING BY PERSONS INTERESTED IN A
DISTRIBUTION; STABILIZING TO FACILITATE A DISTRIBUTION; DISTRIBUTIONS
THROUGH RIGHTS
Legal Authority: 15 USC 78b; 15 USC 78c; 15 USC 78i(a); 15 USC 78j(b);
15 USC 78m(e); 15 USC 78o(c)
CFR Citation: 17 CFR 240.10b-6; 17 CFR 240.10b-7; 17 CFR 240.10b-8
Legal Deadline: None
Abstract: Rule 10b-6 prohibits persons engaged in a distribution of
securities from bidding for or purchasing, or inducing others to
purchase, such securities, any security of the same class and series as
those securities, or any right to purchase any such security, until
they have completed their participation in the distribution. Rule 10b-7
governs stabilizing activities to facilitate distributions of
securities and Rule 10b-8 governs certain activities during
distributions of securities through rights. The Commission has proposed
a comprehensive review of Rules 10b-6, 10b-7, and 10b-8. This review
will examine both the domestic application of those rules and well as
the extraterritorial effect of their application on multinational
securities distributions. This review also would address such issues as
distribution and stabilization practices in the U.S. and abroad, and
the impact of the rules on activities in foreign jurisdictions.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Nancy J. Sanow, Assistant Director, Office of Trading
Practices, Securities and Exchange Commission, Division of Market
Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-4892
RIN: 3235-AF54
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Prerule Stage
_______________________________________________________________________
5017. OWNERSHIP REPORTS AND TRADING BY OFFICERS, DIRECTORS, AND PRINCIPAL
SECURITY HOLDERS
Legal Authority: 15 USC 78n(d); 15 USC 78p(a); 15 USC 78p(b); 15 USC
78p(c); 15 USC 78w(a)
CFR Citation: 17 CFR 240.16a-1 to 240.16a-11; 17 CFR 240.16b-1 to
240.16b-11
Legal Deadline: None
Abstract: The Division is considering whether to recommend to the
Commission proposed amendments to rules under section 16 of the
Securities Exchange Act of 1934 designed to streamline reporting by a
public company's officers, directors and significant shareholders of
transactions in the company's securities.
Timetable: Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Elizabeth M. Murphy, Special Counsel, Office of
Disclosure Policy, Securities and Exchange Commission, Division of
Corporation Finance, 450 5th Street NW., Washington, DC 20549, 202 272-
2589
RIN: 3235-AF66
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Prerule Stage
_______________________________________________________________________
5018. APPLICABILITY OF SECTION 30(F) OF THE INVESTMENT COMPANY ACT OF
1940 TO CERTAIN AFFILIATED PERSONS OF AN INVESTMENT ADVISER TO A
REGISTERED CLOSED-END INVESTMENT COMPANY
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37; 15 USC 80a-29(f)
CFR Citation: 17 CFR 270.30f-1
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission issue a release requesting public
comment on a proposed amendment to Rule 30f-1 under the Investment
Company Act of 1940 which would relieve certain affiliated persons of
an investment adviser to a registered closed-end investment company
from the filing requirements under Section 16 of the Securities
Exchange Act of 1934, made applicable by Section 30(f) of the
Investment Company Act. The proposed amendment is intended to exempt
certain affiliated persons of an investment adviser that are not in a
position to obtain confidential information about the registered
closed-end investment company or to influence or effect a change in the
company's policies, consistent with the purposes of Section 30(f) and
Section 16 of the Securities Exchange Act.
Timetable: Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: Undetermined
Agency Contact: Julia S. Ulstrup, Senior Counsel, Office of Chief
Counsel, Securities and Exchange Commission, Division of Investment
Management, 450 5th Street NW., Washington, DC 20549, 202 272-2030
RIN: 3235-AF81
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Prerule Stage
_______________________________________________________________________
5019. STAFF INTERPRETIVE STATEMENT ON WRAP FEE PROGRAMS
Legal Authority: 15 USC 80b-1 to 80b-21
CFR Citation: 17 CFR 271 to 276
Legal Deadline: None
Abstract: The Securities and Exchange Commission is considering
publishing the views of the Division of Investment Management regarding
the application of the Investment Company Act of 1940 to Wrap Fee
programs, and the application of certain provisions of the Investment
Advisers Act of 1940 to investment advisers who sponsor or participate
in those programs. Specifically, the interpretive statement provides
general guidance for sponsors and portfolio managers so they may avoid
creating and operating an unregistered investment company. The
interpretive statement also discusses wrap fee program advisers'
responsibilities regarding suitability, best execution, principal
transactions, and the disclosure of compensation arrangements.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Monica L. Parry, Senior Counsel, Office of Chief
Counsel, Securities and Exchange Commission, Division of Investment
Management, 450 5th Street NW., Washington, DC 20549, 202 272-2030
RIN: 3235-AG07
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5020. SIMPLIFICATION OF REGISTRATION STATEMENTS FILED BY, AND ADVERTISING
RULES FOR, UNIT INVESTMENT TRUSTS
Legal Authority: 15 USC 80a-8; 15 USC 77g; 15 USC 77j
CFR Citation: 17 CFR 239.16; 17 CFR 274.12
Legal Deadline: None
Abstract: On March 9, 1987, the Commission reproposed for public
comment Form N-7, a new form for registering unit investment trusts
(UITs) and their securities under the Investment Company Act of 1940
and the Securities Act of 1933. Form N-7 was originally proposed by the
Commission on May 14, 1985. Adoption of Form N-7 would: (1) codify the
disclosure requirements for UITs into one form; (2) codify the
disclosure standards that have been developed for UITs; and (3) shorten
and simplify the prospectus used in connection with the sale of units
in both the initial offering and in the secondary market maintained by
the sponsor. The requirement for audited financial statements would be
eliminated under certain circumstances. Under the reproposal, the
requirement that registrants include certain third-party financial
statements in the registration statement would be extended to insurers
as well as guarantors of portfolio securities of the trust. The
Division of Investment Management is also undertaking to develop for
recommendation to the Commission a rule proposal setting forth a
uniform method of computing UIT yields.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 05/23/85 50 FR 21282
ANPRM Comment Period End 07/31/85
Reproposing Release 03/17/87 52 FR 8268
NPRM Comment Period End 05/18/87
Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: Federal
Agency Contact: Eric Freed, Senior Attorney, Securities and Exchange
Commission, Division of Investment Management, 450 5th Street NW.,
Washington, DC 20549, 202 272-2107
RIN: 3235-AA47
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5021. RULE 6C-12 UNDER THE INVESTMENT COMPANY ACT OF 1940
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.6c-12(New)
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission propose a rule that would codify many
exemptions from provisions of the Investment Company Act granted to
two-tier real estate limited partnerships. Exemptions pursuant to
section 6(c) of the Act have generally been granted where: 1) The two-
tier partnership invests in limited partnerships engaged in the
development and building of housing for low- and moderate-income
persons; 2) the limited partnership interests are sold only to suitable
investors; and 3) requirements for fair dealing by the general partner
of the issuer with the limited partners of the issuer are included in
the basic organizational documents of the partnership.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 09/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Diane C. Blizzard, Assistant Director, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2707
RIN: 3235-AC84
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5022. REVISIONS TO THE REGISTRATION AND THE ANNUAL SUPPLEMENT FORMS USED
BY INVESTMENT ADVISERS
Legal Authority: 15 USC 78o(b)(1); 15 USC 78w(a); 15 USC 80b-3; 15 USC
80b-4; 15 USC 80b-6A; 15 USC 80b-11
CFR Citation: 17 CFR 275; 17 CFR 279
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission revise Form ADV, the investment
adviser registration form, and related rules to: (1) request
information related to the Commission's recently expanded enforcement
authority, (2) enhance disclosure of information about the advisory
relationship provided to clients and prospective clients, and (3)
require annual amendment of the form. The enhanced disclosure would
include additional requirements regarding ``soft-dollar'' allocations.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 09/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Eric Freed, Attorney, Securities and Exchange
Commission, Division of Investment Management, 450 5th Street NW.,
Washington, DC 20549, 202 272-2107
RIN: 3235-AD21
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5023. CUSTOMER PROTECTION RESERVES AND CUSTODY OF SECURITIES
Legal Authority: 15 USC 78o(c)(3); 15 USC 78w
CFR Citation: 17 CFR 240.15c3-3
Legal Deadline: None
Abstract: The Commission has proposed an amendment to the customer
protection rule that would allow broker-dealers to provide, in addition
to the instruments currently listed in the rule, certain other
securities as the collateral in securities borrowings.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/15/89 54 FR 10680
NPRM Comment Period End 05/01/89
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Tim Thompson, Branch Chief, Securities and Exchange
Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 942-3159
RIN: 3235-AD60
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5024. DEBT TENDER OFFERS
Legal Authority: 15 USC 77g; 15 USC 77j; 15 USC 77s; 15 USC 77aa(12);
15 USC 781; 15 USC 78o(d); 15 USC 78w; 15 USC 78(e)
CFR Citation: 17 CFR 240.14e-5
Legal Deadline: None
Abstract: The Divisions of Corporation Finance and Market Regulation
are jointly considering whether to recommend that the Commission issue
proposals to amend its rule applicable to debt tender offers.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Additional Information: The agency contact for the Division of Market
Regulation is Nancy J. Sanow, Assistant Director, Office of Trading
Practices, 202 272-2848.
Agency Contact: Gregg Corso, Chief, Office of Tender Offers, Securities
and Exchange Commission, Division of Corporation Finance, 450 5th
Street NW., Washington, DC 20549, 202 272-3097
RIN: 3235-AD69
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5025. REPORTING CURRENCY IN FINANCIAL STATEMENTS UNDER RULE 3-20 OF
REGULATION S-X
Legal Authority: 15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77j; 15
USC 77s; 15 USC 77aa(25); 15 USC 77aa(26); 15 USC 781; 15 USC 78n; 15
USC 78o(d); 15 USC 78w(a); 15 USC 79e; 15 USC 79n; 15 USC 79k(a); 15
USC 80a-8; ...
CFR Citation: 17 CFR 210.3-20
Legal Deadline: None
Abstract: The Division of Corporation Finance is considering whether to
recommend that the Commission propose revisions to Rule 3-20 of
Regulation S-X that would clarify provisions allowing a foreign private
issuer to state its financial statements in a currency other than that
of the country in which it is incorporated or organized. In lieu of
that rule's present reference to the issuer's primary economic
environment, the revised rule would identify characteristics of the
issuer that would guide the selection of a reporting currency.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Additional Information: 15 USC 80a-29
Agency Contact: Robert A. Bayless, Chief Accountant, Securities and
Exchange Commission, Division of Corporation Finance, 450 5th Street
NW., Washington, DC 20549, 202 272-2553
RIN: 3235-AD70
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5026. NET CAPITAL REQUIREMENTS FOR BROKERS OR DEALERS
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 proposed amendments to the net capital rule
that would 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. These proposed increases to the minimum net
capital requirements are in addition to final amendments to the net
capital rule adopted December 2, 1992 that, among other things, raised
the minimum net capital required of clearing broker-dealers, broker-
dealers exempt from rule 15c-3 under paragraph (k) (2) (i) of that rule
and certain introducing broker-dealers. In addition, the two methods of
computing deductions for equity securities positions, or haircuts, were
standardized. Certain changes also were made to the computation were in
response to the October 1987 market break and as part of the Division
of Market Regulations' comprehensive market break study, which examined
the appropriate levels of minimum net capital required of registered
broker-dealers.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
Interim Final Rule 11/24/92 57 FR 59693
NPRM 12/02/92 57 FR 57027
NPRM Comment Period End 02/05/93
Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Roger G. Coffin, Branch Chief, Securities and Exchange
Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 942-3159
RIN: 3235-AD79
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5027. INITIATION OR RESUMPTION OF QUOTATIONS WITHOUT SPECIFIC INFORMATION
Legal Authority: 15 USC 78w; 15 USC 78c; 15 USC 78j(b); 15 USC 78o(c);
15 USC 78q(a); 15 USC 78w(a)
CFR Citation: 17 CFR 240.15c2-11
Legal Deadline: None
Abstract: Rule 15c2-11 governs the submission or publication of
quotations by brokers or dealers for certain over-the-counter
securities. Currently, the rule applies principally to the initiation
or resumption of quotations in the National Daily Quotation Service,
which is also known as the ``pink sheets.'' The Commission has proposed
amendments to the rule that would substantially narrow the piggyback
exception so that self-piggybacking would be excepted under defined
conditions and every broker-dealer generally would be required to
obtain and review the specified information before submitting a
quotation for a covered security. An additional amendment would
encourage the creation of one or more central information repositories
by permitting broker-dealers, under certain conditions, to rely on the
presence of required issuer information in such a repository instead of
maintaining those files internally. The amendments would further the
Commission's efforts to combat fraud and manipulative conduct in the
penny stock market.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/25/91 56 FR 19158
NPRM Comment Period End 01/01/92
Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Nancy J. Sanow, Assistant Director, Office of Trading
Practices, Securities and Exchange Commission, Division of Market
Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-4892
RIN: 3235-AD94
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5028. STABILIZING TO FACILITATE A DISTRIBUTION
Legal Authority: 15 USC 78i(a)(6); 15 USC 78j(b); 15 USC 78q(a); 15
USC 78w(a); 15 USC 78dd(a)
CFR Citation: 17 CFR 240.10b-7
Legal Deadline: None
Abstract: The Commission has proposed amendments to Rule 10b-7, which
regulates stabilizing activities to facilitate distribution. The
proposed amendments would permit the stabilizing price in a
distribution of a foreign security to reflect the price of the security
in the foreign market that is the principal market for such security,
if the stabilizing activity otherwise complies with the rule.
Adjustments of stabilizing bids based on exchange rate fluctuations
between the currencies of the markets on which the security is being
stabilized would also be permitted. The amendments would also deem
foreign stabilizing transactions during a distribution of a foreign
security in the United States made in compliance with comparable
foreign regulations not to be in violation of Rule 10b-7.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 01/09/91 56 FR 814
NPRM Comment Period End 02/25/91
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Nancy J. Sanow, Assistant Director, Office of Trading
Practices, Securities and Exchange Commission, Division of Market
Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-4892
RIN: 3235-AE11
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5029. DEFINITIONS PRINCIPALLY RELATING TO INTERNATIONAL TRANSACTIONS
Legal Authority: 15 USC 78b; 15 USC 78c(b); 15 USC 78w(a)
CFR Citation: 17 CFR 240.3b-10
Legal Deadline: None
Abstract: The Commission has proposed rule 3b-10, which defines certain
terms principally relating to international transactions, general
definitions of terms relevant to the increasing internationalization of
world securities markets rather than identical definitions in the
context of individual rulemaking proposals.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 01/09/91 56 FR 820
NPRM Comment Period End 02/25/91
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Nancy J. Sanow, Assistant Director, Office of Trading
Practices, Securities and Exchange Commission, Division of Market
Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-4892
RIN: 3235-AE15
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5030. TAX EXEMPT MONEY MARKET FUND RULE PROPOSALS
Legal Authority: 15 USC 80a-2(a)(41); 15 USC 80a-6(c); 15 USC 80a-
33(b)(1); 15 USC 80a-34(b); 15 USC 80a-38(a); 15 USC 77f; 15 USC 77g;
15 USC 77h; 15 USC 77s; 15 USC 78m; 15 USC 78n; 15 USC 78w; 15 USC 80a-
37
CFR Citation: 17 CFR 230.482; 17 CFR 239.15A; 17 CFR 270.34b-1; 17 CFR
274.11A; 17 CFR 274.11c; 17 CFR 270.2a-7; 17 CFR 210.12-12; 17 CFR
230.134; 17 CFR 274.101
Legal Deadline: None
Abstract: The proposals address issues raised by developments in the
money markets since 1983. The Division of Investment Management
reviewed the conditions of rule 2a-7 applicable to tax exempt funds and
made recommendations to the Commission to modify those conditions,
which the Commission then proposed for public comment.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 12/29/93 58 FR 68585
NPRM Comment Period End 04/06/94
Final Action 09/00/94
Small Entities Affected: Businesses
Government Levels Affected: State, Local, Federal
Agency Contact: Martha H. Platt, Senior Attorney, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2107
RIN: 3235-AE17
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5031. NOTICE OF ASSUMPTION OR TERMINATION OF TRANSFER AGENT SERVICES
Legal Authority: 15 USC 78c; 15 USC 78q; 15 USC 78q-1; 15 USC 78w(a)
CFR Citation: 17 CFR 240.17Ad-16
Legal Deadline: None
Abstract: The Commission proposed for comment Rule 17Ad-16 under the
Securities Exchange Act of 1934. Rule 17Ad-16, if adopted, would
require a transfer agent to provide written notice to securities
depositories when terminating or assuming transfer agent services on
behalf of an issuer or when changing its name or address. The proposed
rule would increase the efficiency of the National System for the
Clearance and Settlement of Securities Transactions as set forth in
section 17A of the Act Transfer agents with no name or address changes
and with no change in the issues for which they provide services would
not be affected by this rule and do not need to file a notice.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 01/06/92 57 FR 1128
NPRM Comment Period End 02/09/93
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Ester Saverson, Special Counsel, Branch of Transfer
Agent Regulation, Securities and Exchange Commission, Division of
Market Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-
0165
RIN: 3235-AE20
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5032. DEFINITION OF ``SHORT SALE''
Legal Authority: 15 USC 78b; 15 USC 78j(a); 15 USC 78dd(a)
CFR Citation: 17 CFR 240.3b-3; 17 CFR 240.10a-1
Legal Deadline: None
Abstract: The Division of Market Regulation recommended that the
Commission amend Rule 10a-1, which prohibits short sales under certain
circumstances. The proposals would provide an exception to permit
specialists to equalize the opening price of a foreign security on a
U.S. exchange with its price in the principal foreign market, to
exclude from application of the rule transactions in nonconvertible
corporate bonds effected on an exchange, and to codify a no-action
position relating to certain liquidations of index arbitrage positions.
The proposed amendments redesignate certain current provisions of Rule
10a-1. The amendments, if adopted, also would clarify Rule 3b-3's
definition of ownership of a security.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/09/92 57 FR 24415
NPRM Comment Period End 08/10/92
Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: M. Blair Corkran, Senior Special Counsel, Office of
Trading Practices, Securities and Exchange Commission, Division of
Market Regulation, 450 5th Street NW., Washington, DC 20549, 202 942-
4892
RIN: 3235-AE41
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5033. LARGE TRADER REPORTING SYSTEM
Legal Authority: 15 USC 77c; 15 USC 77d; 15 USC 77s; 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 78s; 15 USC 78w
CFR Citation: 17 CFR 240.13h-1
Legal Deadline: None
Abstract: The Commission has released for comment reproposed Rule 13h-
1. Rule 13h-1 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
Small Entities Affected: None
Government Levels Affected: Undetermined
Additional Information: LEGAL AUTHORITY CONT: 15 USC 78x; 15 USC 79q;
15 USC 79t; 15 USC 80a-29; 15 USC 80a-37
Agency Contact: Nicholas T. Chapekis, Special Counsel, Securities and
Exchange Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 942-0757
RIN: 3235-AE42
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5034. SECURITIES TRANSACTIONS EXEMPT FROM TRANSACTION FEES
Legal Authority: 15 USC 78a et seq; 15 USC 77c et seq
CFR Citation: 17 CFR 240.31-1; 17 CFR 240.31-1(g)
Legal Deadline: None
Abstract: The proposal provides an exemption from the payment of fees
for certain securities transactions. Many transactions occurring after
regular trading hours involve portfolio trades. When executed overseas,
these transactions currently may be exempt from section 31 transaction
fees pursuant to Rule 31-a(e). The amendment to Rule 31-1, as proposed
by the Commission, would provide a limited exemption from the payment
of section 31 fees for sales involving 15 securities or more at one
aggregate price occurring on or off an exchange in listed securities
after regular trading hours. By aligning the exemption for after-hours
portfolio trading to match the treatment for overseas trading, the
proposal will remove an incentive for executing these trades overseas.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/03/91 56 FR 25056
NPRM Comment Period End 07/03/91
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Additional Information: ADDITIONAL AGENCY CONTACT: Cheryl Dunfee 202
272-3996.
Agency Contact: Sandy Sciole, Special Counsel, Securities and Exchange
Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 942-0183
RIN: 3235-AE52
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5035. INVESTMENT COMPANY BOOKS AND RECORDS REQUIREMENTS
Legal Authority: 15 USC 80a-31(a); 15 USC 80a-37(a); 15 USC 80a-39
CFR Citation: 17 CFR 270.31a-1; 17 CFR 270.31a-2
Legal Deadline: None
Abstract: The staff has commenced a comprehensive review of the books
and records requirements under the Investment Company Act to update
certain requirements relating to the portfolio transaction records of
investment companies. In particular, current requirements under rules
31a-1 and 31a-2 may be revised to enhance identification of securities
in investment company portfolios. The primary objective of the
proposals would be to improve the staff's abilities to conduct
meaningful and efficient examinations of investment companies.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: None
Agency Contact: Peter L. Smith, Branch Chief, Securities and Exchange
Commission, Division of Investment Management, 450 5th Street NW.,
Washington, DC 20549, 202 272-7812
RIN: 3235-AE94
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5036. EXEMPTION FOR SUBSIDIARIES ORGANIZED TO FINANCE OPERATIONS OF
DOMESTIC OR FOREIGN COMPANIES
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.3a-5
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission propose amendments to rule 3a-5 to
permit finance subsidiaries of United States banks and insurance
companies to rely on the rule. Expanding the coverage of the exemptive
rule could reduce regulatory burdens otherwise present.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 09/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Diane C. Blizzard, Assistant Director, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20459, 504 272-2408
RIN: 3235-AE95
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5037. RULE 17F-5 UNDER THE INVESTMENT COMPANY ACT OF 1940
Legal Authority: 15 USC 80a-17(f); 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.17f-5
Legal Deadline: None
Abstract: Rule 17f-5 permits U.S.-registered investment companies to
maintain certain securities and other assets in the custody of an
``eligible foreign custodian,'' as that term is defined in the rule. In
response to comments that the present definition of eligible foreign
custodian and other provisions of the rule are too restrictive, the
staff is considering whether to recommend that the Commission propose
amendments to the rule. This matter is a reconsideration of an item
that was previously on the Unified Agenda and withdrawn (see prior RIN
3235-AC85).
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 05/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Matthew M. O'Toole, Staff Attorney, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 504-2834
RIN: 3235-AE98
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5038. TEMPORARY EXEMPTION FOR CERTAIN INVESTMENT ADVISERS
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.15a-4
Legal Deadline: None
Abstract: The Division is considering whether to amend rule 15a-4 to
permit an adviser conditionally to serve at contract fee during a short
interim period, prior to shareholder approval of the new contract and
following an ``unforeseeable'' or ``uncontrollable'' assignment of the
advisory contract, e.g., triggered by an acquisition of the parent
company of the adviser where the fund and adviser are not informed
sufficiently in advance to obtain shareholder approval.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 09/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Diane C. Blizzard, Assistant Director, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AF57
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5039. AMENDMENTS TO RULES 12B-1 AND 17D-3 UNDER THE INVESTMENT COMPANY
ACT OF 1940
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-12(b); 15 USC 80a-17(d);
15 USC 80a-22(c); 15 USC 80a-37(a); 15 USC 80a-39
CFR Citation: 17 CFR 270.12b-1; 17 CFR 270.17d-3
Legal Deadline: None
Abstract: The Commission has proposed, and received comments on,
amendments to rules 12b-1 and 17d-3 under the Investment Company Act of
1940. The proposed amendments to rule 12b-1 would clarify and enhance
standards for the approval or continuation of Rule 12b-1 distribution
plans, place limits on certain practices that have developed under the
rule, and prohibit funds using these plans from holding themselves out
as no-load funds. The proposed amendments to rule 17d-3 would allow a
mutual fund, under certain conditions, to enter into joint distribution
agreements with affiliated funds, other affiliated persons, and the
fund's principal underwriter. The Division of Investment Management
withdrew the proposal from the Unified Agenda to consider it in the
context of a comprehensive study of the Act. The Division now is
reconsidering the proposal, in light of the study's recommendations, as
a separate rulemaking proposal.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/13/88 53 FR 23258
NPRM Comment Period End 12/14/88 53 FR 35830
Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Diane C. Blizzard, Assistant Director, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AF62
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5040. RULE 17F-2 UNDER THE INVESTMENT COMPANY ACT--CUSTODY OF INVESTMENTS
BY REGISTERED MANAGEMENT INVESTMENT COMPANY
Legal Authority: 15 USC 80a-17(f); 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.17f-2
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission propose amendments to rule 17f-2 under
the Investment Company Act of 1940, which governs the circumstances
under which the securities and similar investments of a registered
management investment company may be maintained in the custody of such
company.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 07/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Matthew M. O'Toole, Staff Attorney, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 504-2834
RIN: 3235-AF70
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5041. ASSET-BACKED SECURITIES DISCLOSURE
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 proposed amendments to revise rules and
forms which would specify disclosure requirements for asset-backed
securities transactions.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Michael H. Mitchell, Senior Counsel, Securities and
Exchange Commission, Division of Corporation Finance, 450 5th Street
NW., Washington, DC 20549, 202 272-2573
RIN: 3235-AF74
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5042. EXEMPTION FOR CERTAIN ACQUISITIONS OF ONE OR MORE FOREIGN UTILITY
COMPANIES
Legal Authority: 15 USC 79(t); 15 USC 79(n)
CFR Citation: 17 CFR 250.55; 17 CFR 259.5s(Revision)
Legal Deadline: None
Abstract: The proposed rule is intended to provide a safe harbor for
the acquisition of one or more foreign utility companies by a
registered holding company.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/08/93 58 FR 13719
NPRM Comment Period End 04/14/93
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Karen McMillan, Staff Attorney, Office of Public
Utility Regulation, Securities and Exchange Commission, Division of
Investment Management, 450 5th Street NW., Washington, DC 20549, 202
504-3387
RIN: 3235-AF78
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5043. AMENDMENTS TO CONFIRMATION REQUIREMENTS OF RULE 10B-10
Legal Authority: 15 USC 78c; 15 USC 78i; 15 USC 78j; 15 USC 78k; 15
USC 78o; 15 USC 78g; 15 USC 78w
CFR Citation: 17 CFR 240.10b-10
Legal Deadline: None
Abstract: The Commission is proposing to amend Rule 10b-10, the
Commission's confirmation rule. The proposed amendments to Rule 10b-10
would: (i) add a preliminary note to the rule indicating that the
rule's disclosure requirements do not limit disclosure necessary under
the antifraud provisions; (ii) require disclosure of mark-ups and mark-
down for riskless principal transactions in debt securities other than
U.S. Savings Bonds or municipal securities; (iii) require disclosure
when a debt security other than certain government securities is not
rated by a nationally recognized statistical rating organization; (iv)
require disclosure of mark-ups and mark-down in in small capitalization
NASDAQ exchange-listed securities; (v) require disclosure whether
customer accounts are not carried by broker-dealers that are members of
the Securities Investor Protection Corporation; and (vi) clarify yield
disclosure requirements for transactions in mortgage-backed securities.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/00/94
NPRM Comment Period End 06/15/94
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: C. Dirk Peterson, Attorney, Office of Chief Counsel,
Securities and Exchange Commission, Division of Market Regulation, 450
5th Street NW., Washington, DC 20549, 202 942-0073
RIN: 3235-AF84
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5044. AMENDMENT TO RULE 3A12-8 UNDER THE SECURITIES EXCHANGE ACT OF 1934
Legal Authority: 15 USC 78(a) to 78(w)
CFR Citation: 17 CFR 240.3a12-8
Legal Deadline: None
Abstract: The proposed rule would designate debt obligations issued by
the Kingdom of Spain as exempted securities for purposes of marketing
and trading of futures contracts on these securities in the United
States. The amendment is intended to permit futures on Spanish
government debt to be traded in the U.S. This change is not intended to
have any substantive effect on the operation of the rule.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 05/04/93 58 FR 27684
NPRM Comment Period End 06/10/93
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Michael A. Walinskas, Staff Attorney, Securities and
Exchange Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 942-0195
RIN: 3235-AF88
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5045. RULE 9A-1: EXEMPTION FROM DISQUALIFICATION FOR CERTAIN AFFILIATED
PERSONS
Legal Authority: 15 USC 80a-9(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.9a-1
Legal Deadline: None
Abstract: Section 9(a)(3) of the Investment Company Act prohibits any
company from serving as employee, officer, director, member of an
advisory board, investment adviser, or depositor of any registered
investment company or principal underwriter for any registered, open-
end company, registered unit investment trust, or registered face
amount certificate company, if section 9(a)(1) or 9(a)(2) prohibits any
affiliated person of that company from serving in any such capacity.
The Commission has exempted several companies from section 9(a)(3)
where the disqualified affiliated person does not perform or have any
ability to affect the work the company does for the investment company,
registered unit investment trust, or registered face amount certificate
company. The Division of Investment Management is considering whether
to recommend that the Commission propose a rule providing such an
exemption.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Roseanne Harford, Senior Counsel, Office of Regulatory
Policy, Securities and Exchange Commission, Division of Investment
Management, 450 5th Street NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AF89
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5046. AMENDMENTS TO FORM-N-SAR, SEMI-ANNUAL REPORT OF REGISTERED
INVESTMENT COMPANIES
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 semi-annual
report for registered investment companies, to update the items of the
form.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 05/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Carolyn Miller, Senior Financial Analyst, Securities
and Exchange Commission, Division of Investment Management, 450 5th
Street NW., Washington, DC 20549, 202 272-3784
RIN: 3235-AF93
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5047. ACCOUNTING TREATMENT OF INVESTMENT COMPANY EXPENSES PAID THROUGH
BROKERAGE COMMISSION
Legal Authority: 15 USC 80a-8; 15 USC 77g; 15 USC 77j
CFR Citation: 17 CFR 210; 17 CFR 274
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission require investment companies to
reflect as expenses the cost of services provided to the company that
are paid for by a broker-dealer in exchange for the allocation of
transactions to that broker-dealer. The amendments would address
whether such costs should be reflected in expenses in fund financial
statements and in fund performance and expense data.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 05/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Eric Freed, Senior Attorney, Securities and Exchange
Commission, Division of Investment Management, 450 5th Street NW.,
Washington, DC 20549, 202 272-2107
RIN: 3235-AF94
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5048. PROPOSED AMENDMENTS TO FORM N-1A PERTAINING TO MONEY MARKET FUNDS
Legal Authority: 15 USC 77a et seq; 15 USC 80a-1 et seq
CFR Citation: 17 CFR 230.482; 17 CFR 299.15A; 17 CFR 274.11A
Legal Deadline: None
Abstract: The staff of the Division of Investment Management is
considering recommending to the Commission amendments to Form N-1A and
Form N-3, the registration forms used by mutual funds and insurance
company separate accounts under the Investment Company Act of 1940 and
the Securities Act of 1933, that would significantly shorten and
simplify prospectuses for those registrants that hold themselves out as
money market funds or separate accounts. The changes the staff is
considering would provide investors with more easily understandable
information about money market funds in prospectuses, while continuing
to make more detailed information available through the Statement of
Additional Information (``SAI''). Such amendments are also intended to
reduce the cost to funds of preparing, printing, and distributing
prospectuses. The proposals would also make conforming rule and form
amendments and revisions to staff guides to Form N-1A and Form N-3.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Martha H. Platt, Senior Attorney, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2107
RIN: 3235-AF95
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5049. CUSTODY OF INVESTMENT COMPANY ASSETS WITH FUTURES COMMISSION
MERCHANTS AND COMMODITY CLEARING ORGANIZATIONS
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.17f-6
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission propose a rule to let registered
management investment companies use certain futures commission
merchants and commodity clearing organizations as custodians of their
assets in connection with investment company commodity transactions.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/00/94
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Elizabeth R. Krentzman, Special Counsel, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-5416
RIN: 3235-AF97
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5050. DISCLOSURE OF PAYMENT FOR ORDER FLOW
Legal Authority: 15 USC 78a; 15 USC 78k-1; 15 USC 78o; 15 USC 78j
CFR Citation: 17 CFR 240.10b-10(a)(7)(iii); 17 CFR 240.11Ac1-3; 17 CFR
240.10b-10(e)(9)
Legal Deadline: None
Abstract: The Commission proposed for comment amendments to rules 10b-
10(a)(7)(iii) and 10b-10(e)(9) and proposed rule 11Ac1-3 under the
Securities Exchange Act of 1934. Amended rule 10b-10(a)(7)(iii), if
adopted, would require a broker-dealer to include on the confirmation
of each transaction whether payment for order flow was received, and,
if so, the amount of any monetary payment, discount, rebate or
reduction in fee received in connection with the transaction. Rule 10b-
10(e)(9), if amended, would define payment for order flow to include
all forms or arrangements compensating for diverting order flow.
New rule 11Ac1-3, if adopted, would require disclosure on each new
account statement and on a yearly basis thereafter on the annual
account statement, the firm's policies regarding payment for order flow
practices in exchange-listed and NASDAQ national market system
securities; and information regarding the firm's aggregate amount of
monetary-based payment for order flow compensation.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 10/13/93 58 FR 52934
NPRM Comment Period End 12/03/93
Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Jill Ostergaard, Staff Attorney, Securities and
Exchange Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 942-0169
RIN: 3235-AG00
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5051. RECORDKEEPING AND REPORTING REQUIREMENTS FOR TRADING
SYSTEMS OPERATED BY BROKERS AND DEALERS
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 77sss; 15 USC 77ttt; 15 USC
78c; 15 USC 78d; 15 USC 78i; 15 USC 78j; 15 USC 78m
CFR Citation: 17 CFR 240.17a-23
Legal Deadline: None
Abstract: Proposed rule 17a-23 would establish recordkeeping and
reporting requirements for brokers and dealers that operate automated
trading systems. Registered broker-dealer sponsors of these systems
would be required to maintain participant, volume and transaction
records, and to report periodically to the Commission.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 02/18/94 59 FR 8368
NPRM Comment Period End 05/18/94
Small Entities Affected: Undetermined
Government Levels Affected: None
Agency Contact: Gordon K. Fuller, Special Counsel, Securities and
Exchange Commission, 450 Fifth Street NW., Washington, DC 20459, 202
942-0792
RIN: 3235-AG03
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5052. DIVIDEND DECLARATIONS AND PAYMENTS ON CERTAIN INDEBTEDNESS
Legal Authority: 15 USC 79(t); 15 USC 79(n)
CFR Citation: 17 CFR 250.46
Legal Deadline: None
Abstract: This amendment will govern the amount of dividends a
subsidiary of a registered holding company can declare or pay.
Timetable: Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Karen McMillan, Staff Attorney, Securities and Exchange
Commission, Office of Public Utility Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 504-3387
RIN: 3235-AG04
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5053. ANNUAL REPORT OF MUTUAL AND SUBSIDIARY SERVICE COMPANIES
Legal Authority: 15 USC 79(m); 15 USC 79(n); 15 USC 79(o); 15 USC
79(t)(a)
CFR Citation: 17 CFR 259.313
Legal Deadline: None
Abstract: The amendment to the annual report of mutual and subsidiary
service companies will simplify the accounting system maintained by the
service companies and would more clearly disclose financial accounting
and operational information required by the Commission.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 08/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Brian Spires, Staff Attorney, Securities and Exchange
Commission, Office of Public Utility Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 272-7688
RIN: 3235-AG05
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5054. SUITABILITY OF INVESTMENT ADVICE PROVIDED BY INVESTMENT
ADVISERS; CUSTODIAL ACCOUNT STATEMENTS TO BE SENT TO CERTAIN ADVISORY
CLIENTS
Legal Authority: 15 USC 80b-6; 15 USC 80b-4
CFR Citation: 17 CFR 275.204-2
Legal Deadline: None
Abstract: The Division of Investment Management is considering whether
to recommend that the Commission make explicit the duty that investment
advisers make only suitable recommendations to their clients. The
Division is also considering whether to recommend that the Commission
require certain investment advisers that exercise investment discretion
with respect to client accounts to have a reasonable belief that the
custodians of these accounts are sending quarterly account statements
to the clients.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: W. Thomas Conner, Staff Attorney, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2107
RIN: 3235-AG06
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5055. DISCLOSURE OF INFORMATION REQUIRED BY SECTION 17(B) OF THE
SECURITIES ACT OF 1933
Legal Authority: 15 USC 77; 15 USC 77b; 15 USC 77h; 15 USC 77j; 15 USC
77s; 15 USC 77sss; 15 USC 78c; 15 USC 78l to 78o; 15 USC 78w; 15 USC
79t; 15 USC 80a-37
CFR Citation: 17 CFR 230.178
Legal Deadline: None
Abstract: The Division of Corporation Finance is considering
recommending that the Commission propose rules intended to ensure that
investors who read news articles, research reports, and other
investment advice regarding specific securities will receive adequate
disclosure when issuers, underwriters and dealers have paid for the
published investment advice. The rule would require that disclosure
required by Section 17(b) be placed in a prominent position on the
first page of a report or article that describes a security for
consideration received or to be received from an issuer, underwriter,
or dealer. The rule is intended to ensure that investors are informed
in the article that it has been paid for by an issuer, underwriter or
dealer which may have an interest in seeing the information about the
security published.
Timetable: Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Joseph P. Babits, Attorney-Adviser, Division of
Corporation Finance, Securities and Exchange Commission, Office of
Disclosure Policy, 450 5th St. NW., Washington, DC 20549, 202 272-2589
RIN: 3235-AG08
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5056. LIMITED PARTNERSHIP ROLL-UP TRANSACTIONS
Legal Authority: 15 USC 78n(h); 15 USC 78w(a); 15 USC 77s
CFR Citation: 17 CFR 229.901; 17 CFR 229.911; 17 CFR 239.25; 17 CFR
240
Legal Deadline: None
Abstract: The Division of Corporation Finance is considering
recommending that the Commission propose rules in connection with
limited partnership roll-up transactions pursuant to the Limited
Partnership Roll-up Act of 1993.
Timetable: Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Robert Toomey, Special Counsel, Office of Disclosure
Policy, Division of Corporation Finance, Securities and Exchange
Commission, 450 5th Street NW., Washington, DC 20549, 202 272-2589
RIN: 3235-AG09
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5057. EXEMPTIVE RELIEF AND SIMPLIFICATION OF FILING REQUIREMENTS
FOR DEBT SECURITIES TO BE LISTED ON A NATIONAL SECURITIES EXCHANGE
Legal Authority: 15 USC 77d; 15 USC 77g; 15 USC 77j; 15 USC 77s; 15
USC 77eee; 15 USC 77ggg; 15 USC 77nnn; 15 USC 77sss; 15 USC 77ttt; 15
USC 78c; 15 USC 78d; 15 USC 78i; 15 USC 78j; 15 USC 78l
CFR Citation: 17 CFR 249.3A12-11 New; 17 CFR 240.3A12-12 New; 17 CFR
240.12b-7; 17 CFR 240.12d1-2; 17 CFR 249.208a
Legal Deadline: None
Abstract: The Division of Corporation Finance is considering
recommending that the Commission propose to provide exemptive relief
with respect to the listing of debt securities on a national exchange.
such relief is being proposed in order to address a regulatory
disparity between companies who register their debt under section 12(b)
of the Act and companies who permit their debt to be traded in the
over-the-counter market. The proposed rules and amendments to existing
rules would exempt debt securities listed on a national exchange from
the proxy rules and restrictions on borrowing provided by Section 8(a)
of the Securities Exchange Act. Additionally the proposed amendments
would provide for the automatic effectiveness of the Form 8-A under
certain conditions for debt listed on a national exchange.
Timetable: Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: Undetermined
Agency Contact: Joseph P. Babits, Attorney-Adviser, Division of
Corporation Finance, Securities and Exchange Commission, Office of
Disclosure Policy, Stop 3-12, 450 Fifth Street NW., Washington, DC
20549, 202 272-2589
RIN: 3235-AG11
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5058. NEW RULE 15C2-13 REQUIRING DISCLOSURE OF MARK-UPS
Legal Authority: 15 USC 77c; 15 USC 77d; 15 USC 77g; 15 USC 77j; 15
USC 77s; 15 USC 77eee; 15 USC 77ggg; 15 USC 77nnn; 15 USC 77sss; 15 USC
77ttt; 15 USC 78c; 15 USC 78d; 15 USC 78i; 15 USC 78j; 15 USC 78l
CFR Citation: 17 CFR 240.15c2-13
Legal Deadline: None
Abstract: Rule 15c2-13 under the Securities Exchange Act of 1934 would
require brokers, dealers, and municipal securities dealers to: (i)
disclose their mark-ups and mark-downs in connection with riskless
principal transactions in municipal securities; and (ii) disclose that
a particular municipal security is not rated by a nationally recognized
statistical rating organization, if such is the case.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/17/94 59 FR 12767
NPRM Comment Period End 06/15/94
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: C. Dirk Peterson, Attorney, Securities and Exchange
Commission, 450 Fifth Street NW., Washington, DC 20549, 202 942-0073
RIN: 3235-AG12
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Proposed Rule Stage
_______________________________________________________________________
5059. MUNICIPAL SECURITIES DISCLOSURE
Legal Authority: 15 USC 77c; 15 USC 77d; 15 USC 77g; 15 USC 77j; 15
USC 77s; 15 USC 77eee; 15 USC 77ggg; 15 USC 77nnn; 15 USC 77sss; 15 USC
77ttt; 15 USC 78c; 15 USC 78d; 15 USC 78i; 15 USC 78j; 15 USC 78l
CFR Citation: 17 CFR 240.15c2-12
Legal Deadline: None
Abstract: Proposed amendments to rule 15c2-12 will deter fraud and
manipulation in the municipal securities market by prohibiting brokers,
dealers, and municipal securities dealers from underwriting municipal
securities unless the broker, dealer, or municipal securities dealer
has reasonably determined that the issuer has undertaken to provide
continuing disclosure to a repository. Furthermore, the rule would
prohibit brokers, dealers, and municipal securities dealers from
recommending the purchase or sale of a municipal security unless it has
reviewed the information the issuer has undertaken to provide.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/17/94 59 FR 12759
NPRM Comment Period End 07/05/94
Small Entities Affected: Businesses, Governmental Jurisdictions
Government Levels Affected: State, Local, Federal
Agency Contact: Janet W. Russell-Hunter, Attorney, Securities and
Exchange Commission, 450 Fifth Street NW., Washington, DC 20549, 202
942-0073
RIN: 3235-AG13
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5060. REVISION OF INVESTMENT COMPANY PROXY RULES
Legal Authority: 15 USC 78n; 15 USC 78w; 15 USC 80a-20; 15 USC 80a-37
CFR Citation: 17 CFR 240.14a-1 to 240.14a-102; 17 CFR 240.14b-1; 17
CFR 240.14c-1 to 240.14c-101; 17 CFR 270.20a-1 to 270.20a-3
Legal Deadline: None
Abstract: Most solicitations of a proxy, authorization or consent with
respect to registered investment company securities are subject to
rules adopted pursuant to the Securities Exchange Act of 1934 and the
Investment Company Act of 1940 concerning solicitations of proxies. To
the extent that a proxy statement contains repetitive materials or is
overly complicated and difficult to read, it may not provide meaningful
information to security holders in order that they may make informed
voting decisions. The Commission has proposed amendments to the proxy
rules to update the rules to improve the readability of proxy
statements and eliminate unnecessary disclosure costs.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 12/21/93 58 FR 67729
NPRM Comment Period End 03/18/94
Final Action 07/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Kathleen Clarke, Special Counsel, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2107
RIN: 3235-AA69
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5061. REGULATION 13D-G
Legal Authority: 15 USC 78m(d); 15 USC 78m(g); 15 USC 78m(a)
CFR Citation: 17 CFR 240.13d-1; 17 CFR 240.13d-2; 17 CFR 240.13d-7; 17
CFR 240.13d-101; 17 CFR 240.13d-102
Legal Deadline: None
Abstract: The Commission has proposed revisions to Regulation 13D to
change the disclosure to investors of filings on Schedule 13D, while at
the same time reducing the reporting obligations of noninstitutional
investors that have a passive investment purpose.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/14/89 54 FR 10552
NPRM Comment Period End 05/15/89
Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Gregg Corso, Chief, Office of Tender Offers, Securities
and Exchange Commission, Division of Corporation Finance, 450 5th
Street NW., Washington, DC 20549, 202 272-3097
RIN: 3235-AD09
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5062. RULE 801 AND REGISTRATION FORMS FOR RIGHTS OFFERINGS
Legal Authority: 15 USC 77c(b); 15 USC 77s
CFR Citation: 17 CFR 230.801(New)
Legal Deadline: None
Abstract: The Commission has proposed a small issue exemptive rule that
would provide an exemption from the registration requirements of the
Securities Act of 1933 for certain rights offerings and a Securities
Act registration form for certain non-exempt rights offerings. The
Commission also proposed amendments to Form F-3 to permit certain
foreign private issuers reporting under the Securities Exchange Act of
1934 to register certain offerings, including rights offerings, without
meeting the reporting history and public float eligibility requirements
of that form.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/14/91 56 FR 27564
NPRM Comment Period End 09/09/91
Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Paul M. Dudek, Chief, International Corporate Finance,
Securities and Exchange Commission, Division of Corporation Finance,
450 5th Street NW., Washington, DC 20549, 202 272-3246
RIN: 3235-AD44
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5063. AMENDMENT TO RULE 31A-2 UNDER THE INVESTMENT COMPANY ACT OF 1940
Legal Authority: 15 USC 80a-31(a); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.31a-2
Legal Deadline: None
Abstract: Rule 31a-2 specifies where and how long books and records,
required to be maintained by U.S.-registered investment companies and
other persons, must be preserved. The Commission has proposed for
public comment an amendment to the rule that is intended to remove
uncertainty regarding the location and language aspects of the
recordkeeping requirements for U.S.-registered investment companies,
particularly those investment companies investing in foreign
securities.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 10/09/90 55 FR 41100
NPRM Comment Period End 12/10/90
Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Rochelle Kauffman Plesset, Senior Counsel, Securities
and Exchange Commission, Division of Investment Management, 450 5th
Street NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AD66
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5064. FORMS FOR FURNISHING INFORMATION PURSUANT TO RULE 12G3-2(B) UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Legal Authority: 15 USC 78l; 15 USC 78w
CFR Citation: 17 CFR 240.12g3-2(b); 17 CFR 249
Legal Deadline: None
Abstract: The Commission has proposed forms for use by persons
furnishing information under Rule 12g3-2(b).
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/06/91 56 FR 27612
NPRM Comment Period End 09/09/91
Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Paul M. Dudek, Chief, International Corporate Finance,
Securities and Exchange Commission, Division of Corporation Finance,
450 5th Street NW., Washington, DC 20549, 202 272-3246
RIN: 3235-AD72
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5065. SUMMARY PROSPECTUSES
Legal Authority: 15 USC 77f; 15 USC 77g; 15 USC 77j; 15 USC 77s
CFR Citation: 17 CFR 230; 17 CFR 239
Legal Deadline: None
Abstract: The Commission has proposed amendments to Rule 431 under the
Securities Act of 1933 which would revise the issuer criteria and pre-
filing requirements for use of summary prospectuses. Further, the
information requirements applicable to summary prospectuses are
proposed to be amended to include a summary of management's discussion
and analysis of the issuer's financial condition and results of
operations and disclosure regarding the risks associated with
investment in the securities being offered.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/27/90 55 FR 26212
NPRM Comment Period End 09/15/90
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Martin Dunn, Attorney Adviser, Office of Chief Counsel,
Securities and Exchange Commission, Division of Corporation Finance,
450 5th Street NW., Washington, DC 20549, 202 272-2573
RIN: 3235-AD90
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5066. INTERNATIONAL TENDER AND EXCHANGE OFFERS
Legal Authority: 15 USC 77b; 15 USC 77f; 15 USC 77g; 15 USC 77h; 15
USC 77j; 15 USC 77s; 15 USC 77sss; 15 USC 78c; 15 USC 78l; 15 USC 78m;
15 USC 78n; 15 USC 78o; 15 USC 78w; 15 USC 79t; 15 USC 80a-37
CFR Citation: 17 CFR 200; 17 CFR 230; 17 CFR 239; 17 CFR 240; 17 CFR
260
Legal Deadline: None
Abstract: The Commission issued for comment rule proposals to
facilitate the extension of international tender offers to U.S.
holders. The proposed rules would provide exemptions from the tender
offer rules, securities registration and reporting requirements, and
trust indenture provisions, as well as allow the registration of
foreign exchange offers on the basis of foreign disclosure.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
ANPRM 06/12/90 55 FR 23751
ANPRM Comment Period End 09/21/90
NPRM 06/14/91 56 FR 27582
NPRM Comment Period End 09/09/91
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: Undetermined
Agency Contact: Gregg Corso, Chief, Office of Tender Offers, Securities
and Exchange Commission, Division of Corporation Finance, 450 5th
Street NW., Washington, DC 20549, 202 272-3097
RIN: 3235-AD97
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5067. EXEMPTIONS FOR CERTAIN REGISTERED OPEN-END MANAGEMENT INVESTMENT
COMPANIES TO IMPOSE DEFERRED SALES LOADS
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-22; 15 USC 80a-37(a); 15
USC 80a-39; 15 USC 77a et seq
CFR Citation: 17 CFR 270.6c-10; 17 CFR 239.15A
Legal Deadline: None
Abstract: The Commission proposed for public comment rule 6c-10 under
the Investment Company Act of 1940 and related amendments to the Form
N-1A registration statement. Rule 6c-10 would provide an exemption from
the Investment Company Act to registered open-end management investment
companies (other than registered insurance company separate accounts)
and certain related persons to the extent necessary to permit their use
of sales loads payable on a deferred basis. The amendments to Form N-1A
would require disclosure of such deferred sales loads in the fee table
located near the front of the prospectus of a registered open-end
management investment company.
The Division of Investment Management earlier had withdrawn the
proposal from the Unified Agenda to consider it in the context of a
comprehensive study of the Investment Company Act completed in 1992.
The Division now is considering the proposal again as a rulemaking
proposal.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/02/88 53 FR 45275
NPRM Comment Period End 01/09/89
Final Action 05/00/94
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Nadya B. Roytblat, Attorney, Securities and Exchange
Commission, Division of Investment Management, 450 5th Street NW.,
Washington, DC 20549, 202 272-7779
RIN: 3235-AE97
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5068. EXEMPTION FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES ISSUING
MULTIPLE CLASSES OF SHARES; DISCLOSURE BY MULTIPLE CLASS AND MASTER-
FEEDER FUNDS
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-8(b); 15 USC 80a-12(b);
15 USC 80a-18(i); 15 USC 80a-24(a); 15 USC 80a-29; 15 USC 80a-37(a); 15
USC 80a-37(b); 15 USC 77g(a); 15 USC 77j; 15 USC 77s(a)
CFR Citation: 17 CFR 270.18f-3 (New); 17 CFR 270.12b-1; 17 CFR
270.34b-1; 17 CFR 230.134; 17 CFR 230.482; 17 CFR 239.15A; 17 CFR
275.11A; 17 CFR 239.23; 17 CFR 274.101
Legal Deadline: None
Abstract: The Commission has proposed for public comment new rule 18f-3
and an amendment to rule 12b-1 under the Investment Company Act of
1940. Proposed rule 18f-3 would allow open end management investment
companies (``mutual funds'') to issue multiple classes of voting stock
representing interests in the same portfolio, subject to conditions
intended to prevent investor confusion, assure fair expense allocations
and voting rights, and prevent conflicts of interest among classes. The
rule would eliminate the need for funds issuing multiple classes to
apply for exemptions. The proposed amendment to rule 12b-1 would
clarify how the requirements for approval of certain distribution
arrangements would apply to funds with multiple classes of shares. The
Commission also has proposed for public comment amendments to rules
under the Investment Company Act and the Securities Act of 1933,
amendments to the form for registration statements of open-end
investment companies, and amendments to related forms. These amendments
would establish disclosure requirements for prospectuses,
advertisements, and sales literature of multiple class funds, as well
as ``master-feeder'' funds, which (cont)
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 12/15/93 58 FR 68074
NPRM Comment Period End 02/22/94
Final Action 06/00/94
Small Entities Affected: Businesses
Government Levels Affected: None
Additional Information: ABSTRACT CONT: amendments are intended to
address concerns about the complexity of these funds' sales and service
charges.
Agency Contact: Robert G. Bagnall, Assistant Chief of Office,
Securities and Exchange Commission, Division of Investment Management,
450 5th Street NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AF00
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5069. REVISION OF REGISTERED PUBLIC UTILITY COMPANY FINANCING RULES
Legal Authority: 15 USC 79c; 15 USC 79f(b); 15 USC 79i(c)(3); 15 USC
79t; 15 USC 79l
CFR Citation: 17 CFR 250.45; 17 CFR 250.52
Legal Deadline: None
Abstract: The proposed amendments are intended to ease the regulatory
and paperwork burden associated with Commission approval for routine
financings by registered holding companies and their subsidiary
companies.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 07/07/92 57 FR 31156
NPRM PUHCA of 1935 07/07/92 57 FR 31156
NPRM Comment Period End 10/13/92
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Brian Spires, Staff Attorney, Office of Public Utility
Regulation, Securities and Exchange Commission, Division of Investment
Management, 450 5th Street NW., Washington, DC 20549, 202 272-7688
RIN: 3235-AF49
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5070. EXPEDITED PROCEDURE FOR EXEMPTIVE ORDERS AND EXPANDED DELEGATED
AUTHORITY
Legal Authority: 15 USC 6(c); 15 USC 37(a); 15 USC 78d-1
CFR Citation: 17 CFR 200.30-5; 17 CFR 270.0-5
Legal Deadline: None
Abstract: The Commission proposed for public comment amendments to rule
0-5 under the Investment Company Act of 1940 and rule 30-5, Delegation
of Authority to the Director of the Division of Investment Management,
under the Securities Exchange Act of 1934. The amendments to rule 0-5
would establish an expedited review procedure for certain exemptive
applications and would allow the Commission to declare certain inactive
applications to be abandoned. The amendments to rule 30-5 would expand
the delegated authority of the Director of the Division of Investment
Management to approve exemptive applications.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/31/93 58 FR 16799
NPRM Comment Period End 06/29/93
Final Action 05/00/94
Small Entities Affected: Businesses
Government Levels Affected: Federal
Additional Information: A correction to the proposing release was
published April 9, 1993 (58 FR 18352).
Agency Contact: Nadya B. Roytblat, Attorney, Securities and Exchange
Commission, Division of Investment Management, 450 5th Street NW.,
Washington, DC 20549, 202 272-7779
RIN: 3235-AF56
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5071. OFF-THE-PAGE PROSPECTUSES FOR OPEN-END MANAGEMENT INVESTMENT
COMPANIES
Legal Authority: 15 USC 77j(b); 15 USC 77s(a)
CFR Citation: 17 CFR 230.482
Legal Deadline: None
Abstract: The Commission has proposed for public comment amendments to
rule 482 under the Securities Act of 1933, containing requirements for
the use of an advertisement that would allow investors the option of
purchasing shares directly from an open-end investment company by
completing an application form included with the advertisement. The
advertisement would be a prospectus for purposes of liability under
section 12(2) of the Securities Act, and would be required to contain
core information about the investment company.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/19/93 58 FR 16141
NPRM Comment Period End 06/23/93
Final Action 05/00/94
Small Entities Affected: Businesses
Government Levels Affected: Federal
Agency Contact: Rochelle Kauffman Plesset, Senior Counsel, Securities
and Exchange Commission, Division of Investment Management, 450 5th
Street NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AF58
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5072. PROPOSALS TO UPDATE RULES AND FORMS UNDER THE PUBLIC UTILITY
HOLDING COMPANY ACT
Legal Authority: 15 USC 79b(a)(3); 15 USC 79b(a)(4); 15 USC 79t; 15
USC 79n; 15 USC 79o; 15 USC 79c(d); 15 USC 79e(c); 15 USC 79i(c)(3); 15
USC 79l(c); 15 USC 79f(b); 15 USC 79l(d); 15 USC 79l(f); 15 USC
79aa(a); 15 USC 79l(e); 15 USC 79l(i); ...
CFR Citation: 17 CFR 250.7; 17 CFR 250.26; 17 CFR 250.27; 17 CFR
250.29; 17 CFR 250.40(a)(5); 17 CFR 250.14(c); 17 CFR 250.42(b); 17 CFR
250.43(b); 17 CFR 250.44(b); 17 CFR 250.49; 17 CFR 250.62; 17 CFR
250.63; 17 CFR 250.65(b)(2); 17 CFR 250.71(b); 17 CFR 250.83(d); ...
Legal Deadline: None
Abstract: The proposals are intended generally to modernize the rules
under the Act and, in particular, to reduce undue regulatory burdens on
companies in a registered holding company system. The amendments would
also broaden the exemption from regulation for companies that are
primarily engaged in nonutility businesses.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/16/92 57 FR 54025
NPRM Comment Period End 01/15/93 57 FR 54025
Final Action 04/00/94
Small Entities Affected: Businesses
Government Levels Affected: None
Additional Information: CFR CITATION CONT: 17 CFR 259.55; 17 CFR
259.212a; 17 CFR 259.212b; 17 CFR 259.313
LEGAL AUTHORITY CONT: 15 USC 79m(b)
Agency Contact: Brian Spires, Staff Attorney, Office of Public Utility
Regulation, Securities and Exchange Commission, Division of Investment
Management, 450 5th Street NW., Washington, DC 20549, 202 272-7688
RIN: 3235-AF68
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5073. CERTAIN RESEARCH AND DEVELOPMENT COMPANIES
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.3a-8
Legal Deadline: None
Abstract: On July 9, 1993, the Commission proposed for public comment
rule 3a-8 under the Investment Company Act of 1940, which would provide
a safe harbor from investment company status for a company engaged in
research and development, under appropriate conditions. The rule would
apply to certain companies, such as biotechnology companies, that are
not primarily engaged in the investment company business.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 07/15/93 58 FR 38095
NPRM Comment Period End 10/13/93
Final Action 09/00/94
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Diane C. Blizzard, Assistant Director, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AF69
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5074. EXEMPTION FOR SUBSIDIARY COMPANIES OF REGISTERED HOLDING COMPANIES
FORMED TO HOLD INTERESTS IN FOREIGN COMPANIES
Legal Authority: 15 USC 79(t)
CFR Citation: 17 CFR 250.56
Legal Deadline: None
Abstract: The proposed rule clarifies that a subsidiary of a registered
holding company which is engaged exclusively in the business of owning
an interest in one or more foreign utility companies will be exempt
from the Public Utility Holding Company Act of 1935. Registered holding
companies may acquire these entities without the approval of the
Commission.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/08/93 58 FR 13719
NPRM Comment Period End 04/14/93
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Karen McMillan, Staff Attorney, Office of Public
Utility Regulation, Securities and Exchange Commission, Division of
Investment Management, 450 5th Street NW., Washington, DC 20549, 202
504-3387
RIN: 3235-AF79
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5075. SIMPLIFICATION OF REGISTRATION PROCEDURES FOR SECURITIES OFFERINGS
BY FOREIGN PRIVATE ISSUERS
Legal Authority: 15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77j; 15
USC 77s
CFR Citation: 17 CFR 230; 17 CFR 239
Legal Deadline: None
Abstract: The Commission has proposed to streamline registration and
reporting requirements for foreign companies by: (1) expanding the
universe of foreign issuers eligible to use short-form and full shelf
registration under the Securities Act of 1933; (2) streamlining
financial statement reconciliation and financial schedules
requirements; (3) providing a new safe harbor for company announcements
regarding exempt offerings or unregistered offshore offerings; and (4)
expanding safe harbor protection for analyst reports with respect to
sizeable foreign companies publicly traded offshore.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/15/93 58 FR 60307
NPRM Comment Period End 01/31/94
Next Action Undetermined
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Agency Contact: Paul M. Dudek, Chief, Office of International Corporate
Finance, Securities and Exchange Commission, Division of Corporation
Finance, 450 5th Street NW., Washington, DC 20549, 202 272-3246
RIN: 3235-AF83
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5076. CONTINUOUS OR DELAYED OFFERINGS BY CERTAIN CLOSED-END MANAGEMENT
INVESTMENT COMPANIES; AUTOMATIC EFFECTIVENESS OF CERTAIN REGISTRATION
STATEMENTS
Legal Authority: 15 USC 77g; 15 USC 77h; 15 USC 77s(a); 15 USC 77f; 15
USC 77j; 15 USC 80a-8(b); 15 USC 80a-24(a); 15 USC 80a-37(a)
CFR Citation: 17 CFR 230.415; 17 CFR 230.486
Legal Deadline: None
Abstract: The Commission proposed for public comment an amendment to
rule 415 under the Securities Act and new rule 485a under the
Securities Act. The amendment to rule 415 would permit closed-end
management investment companies or business development companies that
make periodic repurchases under Investment Company Act rule 23c-3 to
offer securities on a continuous or delayed basis. New rule 485a would
provide for the automatic effectiveness of post-effective amendments to
registration statements, or new registration statements for the purpose
of registering additional securities, filed by such investment
companies. The Commission also proposed certain related changes to Form
N-2, the registration form for closed-end investment companies.
Proposed rule 485a has been reproposed to conform to proposed changes
in rule 485 under the Securities Act, and has been redesignated rule
486.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/07/93 58 FR 19361
NPRM Comment Period End 06/14/93
NPRM Comment Period End 06/14/93
NPRM 09/21/93 58 FR 50291
Final Action 04/00/94
Small Entities Affected: Businesses
Government Levels Affected: Federal
Agency Contact: Robert G. Bagnall, Assistant Chief of Office,
Securities and Exchange Commission, Division of Investment Management,
450 5th Street NW., Washington, DC 20549, 202 272-3042
RIN: 3235-AF86
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5077. SUBSIDIARIES AUTHORIZED TO PERFORM SERVICES OR CONSTRUCTION OR TO
SELL GOODS
Legal Authority: 15 USC 79t
CFR Citation: 17 CFR 250.87
Legal Deadline: None
Abstract: The amendment to rule 87 will require Commission approval
before a registered holding company or its subsidiaries may render
services to an associate exempt wholesale generator or a foreign
utility company. Additionally, registered holding associate companies
and their subsidiaries may not accept services from exempt wholesale
generators or foreign utility companies without Commission approval.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 09/23/93 58 FR 51508
NPRM Comment Period End 11/30/93
Next Action Undetermined
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Karen McMillan, Staff Attorney, Securities and Exchange
Commission, Division of Investment Management, 450 5th Street NW.,
Washington, DC 20549, 202 504-3387
RIN: 3235-AF87
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5078. RULES OF PRACTICE
Legal Authority: 15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77h-1; 15
USC 77j; 15 USC 77s; 15 USC 77s; 15 USC 77u; 15 USC 78c(b); 15 USC 78d-
1; 15 USC 78d-2; 15 USC 78l; 15 USC 78m; 15 USC 78n; 15 USC 78o
CFR Citation: 17 CFR 201; 17 CFR 202; 17 CFR 203; 17 CFR 240
Legal Deadline: None
Abstract: The Commission has proposed comprehensive revisions to its
Rules of Practice. This proposal stems from the work of the Task Force
on Administrative Proceedings which examined the rules and procedures
governing Commission administrative proceedings. Following passage of
the Securities Enforcement Remedies and Penny Stock Reform Act, the
Task Force expanded its work to include developing recommendations to
implement the Commission's new powers under the Act. Among the major
proposals in the proposed Rules of Practice are: new procedures for the
conduct of temporary cease-and-desist order proceedings; new rules
governing the collection and distribution of disgorgement required by
Commission order; a streamlined discovery process; an expanded role for
prehearing conferences; an expanded availability for summary
disposition of matters of law; and production of documents, pursuant to
subpoena, prior to the start of a hearing.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/22/93 58 FR 61752
NPRM Comment Period End 01/06/94
NPRM Comment Period Extended to
02/04/94 01/11/94 59 FR 1509
Final Action 05/00/94
Small Entities Affected: Undetermined
Government Levels Affected: Undetermined
Additional Information: As to the temporary cease and desist and
disgorgement order rules, a statutory deadline of 10/15/91 exists. As
to the other rules, no deadline exists.
Agency Contact: Andrew Z. Glickman, Staff Attorney, Securities and
Exchange Commission, Office of the General Counsel, 450 5th Street NW.,
Washington, DC 20549, 202 272-2428
RIN: 3235-AF91
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5079. EFFECTIVE DATE OF POST-EFFECTIVE AMENDMENTS FILED BY CERTAIN
REGISTERED INVESTMENT COMPANIES, SEPARATE ACCOUNTS OF INSURANCE COMPANIES
AND CERTAIN CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Legal Authority: 15 USC 77a et seq; 15 USC 80a-1 et seq; 15 USC 80b-11
CFR Citation: 17 CFR 200.30-5; 17 CFR 230.485; 17 CFR 230.486; 17 CFR
230.487; 17 CFR 270.6e-3(T); 17 CFR 274.101; 17 CFR 239.15A; 17 CFR
239.14; 17 CFR 239.16; 17 CFR 239.17a; 17 CFR 239.17b; 17 CFR 274.11A;
17 CFR 274.11a-1; 17 CFR 274.aab; 17 CFR 274.11c
Legal Deadline: None
Abstract: The Commission has proposed amendments to Rule 485 and
related rules and forms to clarify the rule and to expand the ability
of open-end and certain closed-end management investment companies and
separate accounts of insurance companies to file post-effective
amendments that become effective upon filing.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 09/27/93 58 FR 50291
NPRM Comment Period End 11/26/93
Final Action 04/00/94
Small Entities Affected: Businesses
Government Levels Affected: Federal
Agency Contact: Janice M. Bishop, Staff Attorney, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 292 272-2107
RIN: 3235-AF96
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5080. REDEMPTIONS BY OPEN-END MANAGEMENT INVESTMENT COMPANIES AT PERIODIC
INTERVALS OR WITH EXTENDED PAYMENT
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-22(c); 15 USC 80a-33(b);
15 USC 80a-37(a)
CFR Citation: 17 CFR 270.0-1; 17 CFR 270.22C-1; 17 CFR 270.27C-2; 17
CFR 274.11a; 17 CFR 274.11B; 17 CFR 274.11C
Legal Deadline: None
Abstract: The Commission proposed new rules and rule amendments under
the Investment Company Act to provide that open-end investment
companies and registered separate accounts may take up to 31 days to
pay redemption proceeds and/or may redeem only at periodic intervals.
The proposal would permit greater investment in less liquid securities
than is permitted for open-end companies and would permit insurance
companies to use investment vehicles that are more consistent with the
long-term nature of variable insurance contracts.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 07/28/92 57 FR 34701
NPRM Comment Period End 11/04/92
Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Robert G. Bagnall, Assistant Chief of Office,
Securities and Exchange Commission, Division of Investment Management,
450 5th Street NW., Washington, DC 20549, 202 272-3042
RIN: 3235-AF98
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5081. DISCLOSURE BY INVESTMENT ADVISER REGARDING WRAP FEE
PROGRAMS
Legal Authority: 15 USC 80b-3; 15 USC 80b-4; 15 USC 80b-11
CFR Citation: 17 CFR 275; 17 CFR 279
Legal Deadline: None
Abstract: The proposed rule and form amendments would specify the
information that registered investment advisers that are sponsors of
``wrap fee'' programs would be required to provide to prospective
clients in those programs. The information would be required to be
presented in a separate, narrative wrap fee brochure. The proposed
amendments were previously included in the Unified Agenda under RIN
3235-AD21.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 01/20/94 59 FR 3033
NPRM Comment Period End 03/07/94
Final Action 05/00/94
Small Entities Affected: Businesses
Government Levels Affected: State, Federal
Agency Contact: Eric C. Freed, Senior Attorney, Securities and Exchange
Commission, Division of Investment Management, 450 5th Street NW.,
Washington, DC 20549, 202 272-2107
RIN: 3235-AG02
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Final Rule Stage
_______________________________________________________________________
5082. EDGAR IMPLEMENTATION
Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq; 15 USC 77aaa et
seq
CFR Citation: 17 CFR 228; 17 CFR 229; 17 CFR 230; 17 CFR 232; 17 CFR
239; 17 CFR 240; 17 CFR 260; 17 CFR 260
Legal Deadline: None
Abstract: The Division of Corporation Finance will recommend that the
Commission adopt final rules to fully implement the phase-in to
electronic filing on the Electronic Data Gathering, Analysis and
Retrieval (EDGAR) system for all filers whose documents are subject to
review by the Division. Interim rules were adopted on February 23,
1993, in Release No. 33-6977, initiating the operational phase of
EDGAR.
Timetable: Next Action Undetermined
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: James R. Budge, Special Counsel, Office of Disclosure
Policy, Division of Corporation Finance, Securities and Exchange
Commission, 450 5th Street NW., Washington, DC 20549, 202 272-2589
RIN: 3235-AG10
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5083. RULE 15C2-10
Legal Authority: 15 USC 78b; 15 USC 78c; 15 USC 78k-1; 15 USC 78o(c);
15 USC 78w(a); 15 USC 78q; 15 USC 78q-1
CFR Citation: 17 CFR 240.15c2-10
Legal Deadline: None
Abstract: The Commission has proposed for comment a rule that would
govern the operation of proprietary securities trading systems that are
not operated as facilities of a national securities association or
exchange. The Commission has formally withdrawn proposed rule 15c2-10
and a proposed conforming amendment to rule 3a12-7 under the Act.
Securities Exchange Act Release No. 33621 (February 14, 1994), 59 FR
8379. The Commission published, for public comment, proposed rule 17a-
23 to establish recordkeeping and reporting requirements for broker-
dealers that act as sponsors of certain screen-based automated trading
systems. Securities Exchange Act Release No. 33605 (February 18, 1994),
59 FR 8368/ See RIN 3235-AG03.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/18/89 54 FR 15429
NPRM Comment Period End 08/02/89
Withdrawn 02/14/94 59 FR 8379
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Gordon K. Fuller, Special Counsel, Securities and
Exchange Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 272-2414
RIN: 3235-AC94
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5084. NET CAPITAL REQUIREMENTS FOR BROKERS OR DEALERS
Legal Authority: 15 USC 78o(c)(3); 15 USC 78w
CFR Citation: 17 CFR 240.15c3-1
Legal Deadline: None
Abstract: The Commission has amended the net capital rule, to among
other things, make the rule applicable to certain specialists that are
currently exempt from the rule. The Commission has further amended the
net capital rule to exempt certain specialists from the application of
the rule's haircut and undue concentration deductions with respect to
their specialty securities.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 01/05/89 54 FR 315
NPRM Comment Period End 04/03/89
Interim Final Rule 08/17/93 58 FR 43555
Final Action 08/17/93 58 FR 43555
Final Action Effective 04/01/94
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Roger G. Coffin, Branch Chief, Securities and Exchange
Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 942-3159
RIN: 3235-AD62
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5085. SPECIAL PROVISIONS AS TO AGE OF FINANCIAL STATEMENTS FOR FOREIGN
PRIVATE ISSUERS UNDER REGULATION S-X
Legal Authority: 15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77j; 15
USC 77s; 15 USC 77a(25); 15 USC 77a(26); 15 USC 781; 15 USC 78n; 15 USC
78o(d); 15 USC 78w(a); 15 USC 79e(b); 15 USC 79n; 15 USC 79k(a); 15 USC
80a-8
CFR Citation: 17 CFR 210.3-19
Legal Deadline: None
Abstract: The Commission has adopted revisions to Rule 3-19 of
Regulation S-X which would accommodate offerings of securities by
foreign issuers that customarily prepare financial information only on
a semi-annual basis.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/14/91 56 FR 27562
NPRM Comment Period End 07/15/91
Final Action 11/15/93 58 FR 60304
Final Action Effective 11/15/93
Small Entities Affected: None
Government Levels Affected: None
Additional Information: 15 USC 80a-29
Agency Contact: Robert A. Bayless, Chief Accountant, Securities and
Exchange Commission, Division of Corporation Finance, 450 5th Street
NW., Washington, DC 20549, 202 272-2553
RIN: 3235-AD96
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5086. DESIGNATION OF ORDERS AS ``SOLICITED'' AND ``UNSOLICITED''
Legal Authority: 15 USC 78q
CFR Citation: 17 CFR 240.17a-3; 17 CFR 240.17a-4
Legal Deadline: None
Abstract: The Division of Market Regulation considered recommending
that the Commission propose amendments to Rules 17a-3 and 17a-4 that
would require records relating to customer brokerage orders and dealer
transactions to be marked to reflect whether they are ``solicited'' or
``unsolicited.'' Such amendments are no longer being actively developed
as a distinct rulemaking.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
Withdrawn 02/11/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Robert L. D. Colby, Deputy Director, Securities and
Exchange Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 942-0094
RIN: 3235-AE18
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5087. MULTIJURISDICTIONAL DISCLOSURE WITH THE UNITED KINGDOM
Legal Authority: 15 USC 77e; 15 USC 77f; 15 USC 77g; 15 USC 77j; 15
USC 77s(a); 15 USC 77ddd; 15 USC 77eee; 15 USC 77fff; 15 USC 78c(b); 15
USC 78j; 15 USC 78l; 15 USC 78m; 15 USC 78w; 15 USC 78x
CFR Citation: 17 CFR 210; 17 CFR 230; 17 CFR 240; 17 CFR 249; 17 CFR
260
Legal Deadline: None
Abstract: The Division of Corporation Finance is no longer considering
recommending to the Commission a proposal for a multijurisdictional
disclosure system with the United Kingdom similar to that adopted for
Canada.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
Withdrawn 02/11/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Paul M. Dudek, Chief, International Corporate Finance,
Securities and Exchange Commission, Division of Corporation Finance,
450 5th Street NW., Washington, DC 20549, 202 272-3246
RIN: 3235-AE23
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5088. AMENDMENTS TO RULE 12D3-1 UNDER THE INVESTMENT COMPANY ACT OF 1940
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.12d3-1
Legal Deadline: None
Abstract: On September 16, 1993, the Commission adopted amendments to
rule 12d3-1 under the Investment Company Act of 1940 that eliminate the
qualitative conditions previously imposed by the rule on acquisitions
by registered investment companies of the securities of securities-
related businesses. The amendments simplify the conditions for
qualifying for exemptive relief under rule 12d3-1 and permit registered
investment companies to pursue a broader range of investment
objectives.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM - Proposed Amendments to
Rule 12d3-1 08/11/89 54 FR 33027
NPRM 01/08/93 58 FR 3243
NPRM Comment Period End 03/09/93
Final Action 09/16/93 58 FR 49425
Final Action Effective 10/25/93
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Diane C. Blizzard, Assistant Director, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AE47
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5089. INVESTMENT COMPANY GENERAL PARTNERS NOT DEEMED INTERESTED PERSONS;
INVESTMENT COMPANY LIMITED PARTNERS NOT DEEMED AFFILIATED PERSONS
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.2a19-2; 17 CFR 270.2a3-1
Legal Deadline: None
Abstract: On August 25, 1993, The Commission adopted rules providing,
under certain conditions, comparable treatment for investment companies
organized as limited partnerships as for investment companies organized
as corporations. Rule 2a19-2 exempts certain general partners of an
investment company organized as a limited partnership from being
considered ``interested persons'' of the investment company, its
investment adviser, or its principal underwriter, solely on the basis
of their status as partners or co-partners. Rule 2a3-1 exempts certain
limited partners of an investment company organized as a limited
partnership from being considered ``affiliated persons'' of the
investment company, other partners of the investment company, its
investment adviser, or its principal underwriter, solely on the basis
of their status as partners or co-partners. These rules eliminate the
need for certain limited partnership investment companies to file
(cont)
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 07/28/92 57 FR 34726
NPRM Comment Period End 10/06/92
Final Action 08/25/93 58 FR 45834
Final Action Effective 09/30/93
Small Entities Affected: Businesses
Government Levels Affected: None
Additional Information: ABSTRACT CONT: individual exemptive
applications, and make it easier for venture capital funds and other
pooled investment vehicles to function as limited partnership
investment companies under the Investment Company Act.
Agency Contact: Diane C. Blizzard, Assistant Director, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AF01
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5090. REVISION OF CERTAIN ANNUAL REVIEW REQUIREMENTS OF INVESTMENT
COMPANY BOARDS OF DIRECTORS
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-10(f); 15 USC 80a-17(e);
15 USC 80a-17(f); 15 USC 80a-22(c); 15 USC 80a-37(a)
CFR Citation: 17 CFR 270.10f-3; 17 CFR 270.17a-7; 17 CFR 270.17e-1; 17
CFR 270.17f-4; 17 CFR 270.22c-1
Legal Deadline: None
Abstract: The Commission has adopted amendments to rules 10f-3, 17a-7,
17e-1, 17f-4, and 22c-1 under the Investment Company Act of 1940. The
amended rules no longer require directors to review certain procedures
and arrangements annually, and require instead that directors make and
approve changes only when necessary.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 12/30/92 58 FR 2999
NPRM Comment Period End 03/08/93
Final Action 09/17/93 58 FR 49919
Final Action Effective 10/25/93
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Elizabeth R. Krentzman, Special Counsel, Securities and
Exchange Commission, Division of Investment Management, 450 5th Street
NW., Washington, DC 20549, 202 272-2048
RIN: 3235-AF60
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5091. ACCESS TO NONPUBLIC INFORMATION IN THE COMMISSION'S POSSESSION
Legal Authority: 15 USC 78w; 15 USC 78x
CFR Citation: 17 CFR 240.24c-1(New)
Legal Deadline: None
Abstract: The Commission adopted Rule 24c-1 under the Securities
Exchange Act of 1934. Under a recent amendment of the Exchange Act,
Section 24(c) permits the Commission, in its discretion and upon a
showing that such information is needed, to provide information in its
possession to such persons, domestic and foreign, as the Commission by
rule deems appropriate if the person receiving such information
provides such assurances of confidentiality as the Commission deems
appropriate. The rule is intended to complement the Commission's
current access program and to implement Section 24(c). It designates
categories of domestic and foreign governmental authorities, self-
regulatory organizations and other specified persons participating in
the Commission's current program as persons who may be provided access
to nonpublic information in the Commission's possession.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/30/92 57 FR 57710
NPRM Comment Period End 01/21/93 57 FR 57710
Final Action 11/08/93 58 FR 52416
Final Action Effective 11/08/93 58 FR 52416
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Walter B. Stahr, Assistant General Counsel, Securities
and Exchange Commission, Office of the General Counsel, 450 5th Street
NW., Washington, DC 20549, 202 272-2070
RIN: 3235-AF72
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5092. REPORTS TO BE MADE BY CERTAIN BROKERS AND DEALERS
Legal Authority: 15 USC 78q(a)(l)
CFR Citation: 17 CFR 240.17a-5
Legal Deadline: None
Abstract: The amendments shift to designated examining authorities the
responsibility for extensions of time for the filing of FOCUS Reports
and audited annual financial reports and for requests for approval of
changes of the date as of which the audited financial report must be
conducted.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
Final Action 08/31/93 58 FR 45838
Final Action Effective 10/01/93
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Elizabeth K. King, Staff Attorney, Securities and
Exchange Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC 20549, 202 942-3159
RIN: 3235-AF73
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5093. AMENDMENTS TO THE MULTIJURISDICTIONAL DISCLOSURE SYSTEM
Legal Authority: 15 USC 77f; 15 USC 77g; 15 USC 77h; 15 USC 77j; 15
USC 77s; 15 USC 78c; 15 USC 78dA; 15 USC 78l; 15 USC 78m; 15 USC 78n;
15 USC 78o; 15 USC 78p; 15 USC 78w
CFR Citation: 17 CFR 229; 17 CFR 230; 27 CFR 239; 17 CFR 240
Legal Deadline: None
Abstract: The Commission has adopted amendments revising forms and
rules relating to the multijurisdictional disclosure system, including
revisions which (1) modify the eligibility requirements for use of
certain forms and (2) recognize investment grade ratings by securities
rating organizations recognized by Canadian securities regulations for
purposes of the eligibility requirements under Forms F-9 and 40-F.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/28/93 58 FR 26442
NPRM Comment Period End 06/02/93
Final Action on Certain
Proposals 06/28/93 58 FR 35367
NPRM Comment Period End for
Certain Proposals 07/02/93
Final Rule on Certain Proposals 11/23/93 58 FR 62028
Final Action 01/04/94 59 FR 242
Final Action Effective 01/04/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Paul M. Dudek, Chief, Office of International Corporate
Finance, Securities and Exchange Commission, Division of Corporation
Finance, 450 5th Street NW., Washington, DC 20549, 202 272-3246
RIN: 3235-AF75
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5094. EFFECT OF EXEMPT WHOLESALE GENERATORS ON OTHER TRANSACTIONS
Legal Authority: 15 USC 79(t)
CFR Citation: 17 CFR 250.54
Legal Deadline: None
Abstract: The rule is intended to provide a safe harbor for the
financing of transactions by a registered holding company other than
the acquisition of an exempt wholesale generator when the registered
holding company holds an interest in one or more exempt wholesale
generators.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/08/93 58 FR 13719
NPRM Comment Period End 04/14/93
Final Action 09/23/93 58 FR 51488
Final Action Effective 10/01/93 58 FR 51488
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Karen McMillan, Staff Attorney, Office of Public
Utility Regulation, Securities and Exchange Commission, Division of
Investment Management, 450 5th Street NW., Washington, DC 20549, 202
504-3387
RIN: 3235-AF77
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5095. NOTICES AND REPORTS CONCERNING ACQUISITION OF FOREIGN UTILITY
COMPANIES
Legal Authority: 15 USC 79(n); 15 USC 79(t)
CFR Citation: 17 CFR 250.57
Legal Deadline: None
Abstract: The rule specifies the information to be provided to the
Commission under P.L. 102-406, Sec. 715. The rule also provides for the
reporting of acquisition of foreign utility companies by exempt holding
companies.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/08/93 58 FR 13719
NPRM Comment Period End 04/14/93
Final Action 09/23/93 58 FR 51488
Final Action Effective 10/31/93 58 FR 51488
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Karen McMillan, Staff Attorney, Office of Public
Utility Regulation, Securities and Exchange Commission, Division of
Investment Management, 450 5th Street NW., Washington, DC 20549, 202
504-3387
RIN: 3235-AF80
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5096. CERTAIN REGISTERED HOLDING COMPANY FINANCINGS IN CONNECTION WITH
THE ACQUISITION OF ONE OR MORE EXEMPT WHOLESALE GENERATORS
Legal Authority: 15 USC 79(t); 15 USC 79(n)
CFR Citation: 17 CFR 250.53; 17 CFR 259.5s(Revision)
Legal Deadline: Final, Statutory.
The rule was to be adopted within 6 months of enactment of the Energy
Policy Act.
Abstract: The rule is intended to provide a safe harbor for the
financing of acquisitions of exempt wholesale generators by registered
holding companies. The amendment to Form U5S provides for the reporting
of those acquisitions and of acquisitions of foreign utility companies
by registered holding companies.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/08/93 58 FR 13719
NPRM Comment Period End 04/14/93
Final Action 09/23/93 58 FR 51488
Final Action Effective 10/01/93 58 FR 51488
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Karen McMillan, Staff Attorney, Office of Public
Utility Regulation, Securities and Exchange Commission, Division of
Investment Management, 450 5th Street NW., Washington, DC 20549, 202
504-3387
RIN: 3235-AF82
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5097. SECURITIES TRANSACTIONS SETTLEMENT
Legal Authority: 15 USC 15(c)(6); 15 USC 78(o)
CFR Citation: 17 CFR 240.15c6-1
Legal Deadline: None
Abstract: The rule is designed to reduce the risk inherent in settling
securities transactions by reducing the number of trades to be settled;
enhancing the liquidity of the corporate securities markets by
permitting sellers to move from these to other markets on a more timely
basis; bringing the market for corporate securities into closer
conformity with the government securities and derivatives markets; and
increasing harmonization with international markets.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 02/23/93 58 FR 11806
NPRM Comment Period End 06/30/93
Final Action 10/06/93 58 FR 52891
Small Entities Affected: Businesses
Government Levels Affected: Federal
Sectors Affected: Multiple
Agency Contact: Jack Drogin, Branch Chief, Securities and Exchange
Commission, Division of Market Regulation, 450 5th Street NW.,
Washington, DC. 20549, 202 272-7474
RIN: 3235-AF85
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5098. PENNY STOCK DEFINITION FOR PURPOSES OF THE BLANK CHECK RULE
Legal Authority: 15 USC 77g; 15 USC 77s; 15 USC 78c(a)(51)(A); 15 USC
78w(a)
CFR Citation: 17 CFR 240.3a51-1
Legal Deadline: None
Abstract: The Commission has adopted a revision of the definition of
penny stock for purposes of the Commission's blank check rule to make
the exclusion for offerings priced at five dollars or more
inapplicable.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 07/02/93 58 FR 37445
NPRM Comment Period End 08/11/93
Final Action 10/29/93 58 FR 58099
Final Action Effective 10/29/93
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Richard Wulff, Chief, Office of Small Business Policy,
Securities and Exchange Commission, Division of Corporation Finance,
450 5th Street NW., Washington, DC 20549, 202 272-2644
RIN: 3235-AF90
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5099. EXECUTIVE COMPENSATION DISCLOSURE
Legal Authority: 15 USC 77e; 15 USC 77f; 15 USC 77j; 15 USC 77s; 15
USC 78n; 15 USC 78w
CFR Citation: 17 CFR 229.402; 17 CFR 240.14a-101
Legal Deadline: None
Abstract: The Commission has adopted several refinements of, and
technical changes to, the executive compensation disclosure
requirements.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 08/12/93 58 FR 42882
NPRM Comment Period End 10/15/93 58 FR 42882
Final Action 11/29/93 58 FR 63010
Final Action Effective 11/29/93
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Gregg W. Corso, Chief, Office of Tender Offers,
Securities and Exchange Commission, Division of Corporation Finance,
450 5th Street NW., Washington, DC 20549, 202 272-3097
RIN: 3235-AF92
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5100. RULEMAKING REGARDING INDIVIDUALIZED INVESTMENT ADVISORY PROGRAM
Legal Authority: 15 USC 80a-6(c); 15 USC 80a-37
CFR Citation: 17 CFR 270.3a-4
Legal Deadline: None
Abstract: The Division of Investment Management is no longer
considering whether to recommend that the Commission issue a release
requesting public comment on reproposed Rule 3a-4 under the Investment
Company Act of 1940.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
Withdrawn - The Division of
Investment Mgmt. is no longer
considering 02/11/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Monica L. Parry, Senior Counsel, Office of Chief
Counsel, Securities and Exchange Commission, Division of Investment
Management, 450 5th Street NW., Washington, DC 20549, 202 272-2030
RIN: 3235-AF99
_______________________________________________________________________
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION (SEC) Completed Actions
_______________________________________________________________________
5101. LIMITATION OF FILING REQUIREMENTS FOR PRELIMINARY PROXY
MATERIALS UNDER CERTAIN CIRCUMSTANCES
Legal Authority: 15 USC 77e; 15 USC 77f; 15 USC 77j; 15 USC 77s; 15
USC 78n; 15 USC 78w
CFR Citation: 17 CFR 240.14a-6; 17 CFR 240.14c-5
Legal Deadline: None
Abstract: In November 1993, the Commission proposed for comment
amendments to the preliminary filing requirements of proxy and
information statements. In December 1993, the Commission amended rule
14a-6 and rule 14c-5 of the Securities Exchange Act of 1934 to
eliminate the need to file a preliminary proxy or information statement
where the matter subject to shareholder action is the approval of or on
amendment to an employee benefit plan.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/29/93 58 FR 69225
NPRM Comment Period End 12/13/93 58 FR 69225
Final Action 12/30/93 58 FR 69225
Final Action Effective 12/30/93
Small Entities Affected: Businesses
Government Levels Affected: None
Agency Contact: Gregg W. Corso, Chief, Office of Tender Offers,
Securities and Exchange Commission, Division of Corporation Finance,
450 5th Street NW., Washington, DC 20549, 202 272-3097
RIN: 3235-AG01
[FR Doc. 94-7683 Filed 04-22-94; 8:45 am]
BILLING CODE 8010-01-F