[Federal Register Volume 63, Number 75 (Monday, April 20, 1998)]
[Proposed Rules]
[Pages 19430-19431]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-10336]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 240
[Release No. 34-39859; File No. S7-8-98]
RIN 3235-AH42
Year 2000 Readiness Reports To Be Made by Transfer Agents
AGENCY: Securities and Exchange Commission.
ACTION: Proposed rule; extension of the comment period.
-----------------------------------------------------------------------
SUMMARY: The Securities and Exchange Commission is extending from April
13, 1998, until April 27, 1998, the comment period for Securities
Exchange Act Release No. 39726 (March 5, 1998), 63 FR 12062 (March 12,
1998). In the release the Commission proposed a rule that would require
non-bank transfer agents to provide at least one report to the
Commission regarding its preparations for Year 2000 problems.
DATES: Comments should be received on or before April 27, 1998.
ADDRESSES: Comments should be submitted in triplicate to Jonathan G.
Katz, Secretary, Securities and Exchange Commission (``Commission''),
450 Fifth Street, N.W., Washington, D.C. 20549.
[[Page 19431]]
Comments also may be submitted electronically at the following E-
mail address: rule-comments@sec.gov. Comment letters should refer to
File No. S7-8-98; this file number should be included on the subject
line if E-mail is used. All comments received will be available for
public inspection and copying at the Commission's Public Reference
Room, 450 Fifth Street, N.W., Washington, D.C. 20549. Electronically
submitted comment letters will be posted on the Commission's Internet
web site (http://www.sec.gov).
FOR FURTHER INFORMATION CONTACT: Jerry W. Carpenter, Assistant
Director, 202/942-4187; Thomas C. Etter, Jr., Special Counsel, 202/942-
0178; or Jeffrey S. Mooney, Special Counsel, 202/942-4174, Division of
Market Regulation, Securities and Exchange Commission, 450 Fifth
Street, N.W., Mail Stop 10-1, Washington, D.C. 20549.
SUPPLEMENTARY INFORMATION: On March 5, 1998, the Commission proposed
temporary Rule 17Ad-18 under the Securities Exchange Act of 1934. Rule
17Ad-18 would require all non-bank registered transfer agents to file
with the Commission at least one report regarding its Year 2000
readiness. The initial report would be due no later than 45 days after
the Commission adopts this rule. The follow-up reports, which would be
due on August 31, 1998, and on August 31, 1999, would include an
attestation by an independent public accountant that would give the
independent public accountant's opinion whether there is a reasonable
basis for the transfer agent's assertions in the reports. Additionally,
the release contains a Commission advisory notice on its transfer agent
record retention and recordkeeping requirements relating to the Year
2000.
The Commission has recently received requests from interested
persons to extend the comment period for this release. The Commission
believes that extending the comment period is appropriate in order to
give the public additional time to comment on the matters the release
addresses. Therefore, the comment period is extended until April 27,
1998.
By the Commission.
Dated: April 14, 1998.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 98-10336 Filed 4-17-98; 8:45 am]
BILLING CODE 8010-01-P
