Regulatory Flexibility Agenda

Part XXIV

Securities and Exchange Commission

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###Semiannual Regulatory Agenda###

[[Page 79938]]

SECURITIES AND EXCHANGE COMMISSION (SEC)

_______________________________________________________________________

SECURITIES AND EXCHANGE COMMISSION

17 CFR Ch. II

[Release Nos. 33-9141, 34-62881, IA-3081, IC-29414, File No. S7-21-10]

Regulatory Flexibility Agenda

AGENCY: Securities and Exchange Commission.

ACTION: Semiannual regulatory agenda.

_______________________________________________________________________

SUMMARY: The Securities and Exchange Commission is publishing an agenda

of its rulemaking actions pursuant to the Regulatory Flexibility Act

(RFA) (Pub. L. No. 96-354, 94 Stat. 1164) (Sep. 19, 1980). Information

in the agenda was accurate on September 10, 2010, the day on which the

Commission's staff completed compilation of the data. To the extent

possible, rulemaking actions by the Commission since that date have

been reflected in the agenda. The Commission invites questions and

public comment on the agenda and on the individual agenda entries.

The Commission is now printing in the Federal Register, along

with our preamble, only those agenda entries for which we have

indicated that preparation of a Regulatory Flexibility Act analysis

is required.

The Commission's complete RFA agenda will be available online

at www.reginfo.gov.

DATES: Comments should be received on or before December 30, 2010.

ADDRESSES: Comments may be submitted by any of the following methods:

Electronic comments:

Use the Commission's Internet comment form (http://

www.sec.gov/rules/other.shtml); or

Send an e-mail to [email protected]. Please include File

Number S7-21-10 on the subject line; or

Use the Federal eRulemaking Portal (http://

www.regulations.gov). Follow the instructions for submitting comments.

Paper comments:

Send paper comments in triplicate to Elizabeth M. Murphy,

Secretary, Securities and Exchange Commission, 100 F Street NE.,

Washington, DC 20549-1090.

All submissions should refer to File No. S7-21-10. This file

number should be included on the subject line if e-mail is used. To

help us process and review your comments more efficiently, please

use only one method. The Commission will post all comments on the

Commission's Internet website (http://www.sec.gov/rules/

other.shtml). Comments are also available for website viewing and

printing in the Commission's Public Reference Room, 100 F Street

NE., Washington, DC 20549, on official business days between the

hours of 10:00 a.m. and 3:00 p.m. All comments received will be

posted without change; we do not edit personal identifying

information from submissions. You should submit only information

that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: Anne Sullivan, Office of the General

Counsel, 202-551-5019.

SUPPLEMENTARY INFORMATION: The RFA requires each Federal agency, during

April and October of each year, to publish in the Federal Register an

agenda identifying rules that the agency expects to consider in the

next 12 months that are likely to have a significant economic impact on

a substantial number of small entities (5 U.S.C. 602(a)). The RFA

specifically provides that publication of the agenda does not preclude

an agency from considering or acting on any matter not included in the

agenda and that an agency is not required to consider or act on any

matter that is included in the agenda (5 U.S.C. 602(d)). Actions that

do not have an estimated date are placed in the long-term category; the

Commission may nevertheless act on items in that category within the

next 12 months. The agenda includes new entries, entries carried over

from prior publications, and rulemaking actions that have been

completed (or withdrawn) since publication of the last agenda.

The following abbreviations for the acts administered by the

Commission are used in the agenda:

``Securities Act''--Securities Act of 1933

``Exchange Act''--Securities Exchange Act of 1934

``Investment Company Act''--Investment Company Act of 1940

``Investment Advisers Act''--Investment Advisers Act of 1940

The Commission invites public comment on the agenda and on the

individual agenda entries.

By the Commission.

Dated: September 10, 2010.

Elizabeth M. Murphy,

Secretary.

DIVISION OF CORPORATION FINANCE--Proposed Rule Stage

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Regulation

Sequence Title Identifier

Number Number

----------------------------------------------------------------------------------------------------------------

611 Voluntary Filers...................................................................... 3235-AK59

612 Risk Disclosures...................................................................... 3235-AK58

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DIVISION OF CORPORATION FINANCE--Final Rule Stage

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Regulation

Sequence Title Identifier

Number Number

----------------------------------------------------------------------------------------------------------------

613 Proxy Solicitation Enhancements....................................................... 3235-AK28

[[Page 79939]]

614 Shareholder Approval of Executive Compensation and Golden Parachute Compensation...... 3235-AK68

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DIVISION OF CORPORATION FINANCE--Completed Actions

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Regulation

Sequence Title Identifier

Number Number

----------------------------------------------------------------------------------------------------------------

615 Facilitating Shareholder Director Nominations......................................... 3235-AK27

616 Revisions to Regulation D............................................................. 3235-AK52

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DIVISION OF INVESTMENT MANAGEMENT--Final Rule Stage

----------------------------------------------------------------------------------------------------------------

Regulation

Sequence Title Identifier

Number Number

----------------------------------------------------------------------------------------------------------------

617 Temporary Rule Regarding Principal Trades With Certain Advisory Clients............... 3235-AJ96

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DIVISION OF INVESTMENT MANAGEMENT--Completed Actions

----------------------------------------------------------------------------------------------------------------

Regulation

Sequence Title Identifier

Number Number

----------------------------------------------------------------------------------------------------------------

618 Amendments to Form ADV................................................................ 3235-AI17

619 Political Contributions by Certain Investment Advisers................................ 3235-AK39

620 Indexed Annuities and Certain Other Insurance Contracts............................... 3235-AK49

----------------------------------------------------------------------------------------------------------------

DIVISION OF TRADING AND MARKETS--Proposed Rule Stage

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Regulation

Sequence Title Identifier

Number Number

----------------------------------------------------------------------------------------------------------------

621 Amendments to Rule 17a-5.............................................................. 3235-AK56

622 Publication or Submission of Quotations Without Specified Information................. 3235-AH40

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DIVISION OF TRADING AND MARKETS--Final Rule Stage

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Regulation

Sequence Title Identifier

Number Number

----------------------------------------------------------------------------------------------------------------

623 Transitional Registration as a Municipal Advisor...................................... 3235-AK69

624 Consolidated Audit Trail.............................................................. 3235-AK51

625 Proposed Rules for Nationally Recognized Statistical Rating Organizations............. 3235-AK14

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DIVISION OF TRADING AND MARKETS--Long-Term Actions

----------------------------------------------------------------------------------------------------------------

Regulation

Sequence Title Identifier

Number Number

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626 Confirmation of Transactions in Open-End Management Investment Company Shares, Unit 3235-AJ11

Investment Trust Interests, and Municipal Fund Securities Used for Education Savings..

627 Point-of-Sale Disclosure of Purchases in Open-End Management Investment Company 3235-AJ12

Shares, Unit Investment Trust Interests, and Municipal Fund Securities Used for

Education Savings.....................................................................

628 Rule 15c-100: Schedule 15C............................................................ 3235-AJ13

[[Page 79940]]

629 Rule 15c-101: Schedule 15D............................................................ 3235-AJ14

630 Processing of Reorganization Events, Tender Offers, and Exchange Offers............... 3235-AH53

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DIVISION OF TRADING AND MARKETS--Completed Actions

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Regulation

Sequence Title Identifier

Number Number

----------------------------------------------------------------------------------------------------------------

631 Amendment to Municipal Securities Disclosure.......................................... 3235-AJ66

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_______________________________________________________________________

Securities and Exchange Commission (SEC) Proposed Rule Stage

Division of Corporation Finance

_______________________________________________________________________

611. VOLUNTARY FILERS

Legal Authority: Not Yet Determined

Abstract: The Division is considering recommending that the Commission

propose amendments to require registrants who do not have a filing

obligation under the Exchange Act to file any reports with the

Commission in compliance with Commission rules.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 09/00/11

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Sean Harrison, Division of Corporation Finance,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-3430

RIN: 3235-AK59

_______________________________________________________________________

612. RISK DISCLOSURES

Legal Authority: Not Yet Determined

Abstract: The Division is considering recommending that the Commission

propose amendments to its rules and forms to consolidate and enhance

the risk disclosures provided by registrants.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 07/00/11

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Jennifer Zepralka, Division of Corporation Finance,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-3430

RIN: 3235-AK58

_______________________________________________________________________

Securities and Exchange Commission (SEC) Final Rule Stage

Division of Corporation Finance

_______________________________________________________________________

613. PROXY SOLICITATION ENHANCEMENTS

Legal Authority: 15 USC 78n

Abstract: The Commission adopted amendments in December 2009 to enhance

proxy disclosures. In the proposing release for those rules, the

Commission also proposed further amendments to its proxy rules to

clarify the manner in which they operate and address issues that have

arisen in the proxy solicitation process. The Division is considering

recommending that the Commission adopt amendments relating to the

outstanding proposals.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 07/17/09 74 FR 35076

NPRM Comment Period End 09/15/09

Final Action 12/23/09 74 FR 68334

Final Action Effective 02/28/10

Final Action 11/00/11

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Mark W. Green, Division of Corporation Finance,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549-0301

Phone: 202 551-3440

Email: [email protected]

RIN: 3235-AK28

_______________________________________________________________________

614. SHAREHOLDER APPROVAL OF EXECUTIVE COMPENSATION

AND GOLDEN PARACHUTE COMPENSATION

Legal Authority: PL 111-203 sec 951; 15 USC 78c(b); 15 USC 78m; 15 USC

78n; 15 USC 78w(a); 15 USC 78mm

Abstract: The Commission proposed revisions to the proxy rules to

implement section 951 of the Dodd-Frank Wall Street Reform and Consumer

Protection Act, which requires issuers to conduct a separate

shareholder advisory vote: (1) To approve the compensation of

executives; (2) to determine how often they will conduct such votes;

and (3) to approve golden parachute compensation arrangements when

[[Page 79941]]

issuers are soliciting votes to approve merger or acquisition

transactions.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 10/28/10 75 FR 66590

NPRM Comment Period End 11/18/10

Final Action 01/00/11

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Scott Hodgdon, Division of Corporation Finance,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-3430

RIN: 3235-AK68

_______________________________________________________________________

Securities and Exchange Commission (SEC) Completed Actions

Division of Corporation Finance

_______________________________________________________________________

615. FACILITATING SHAREHOLDER DIRECTOR NOMINATIONS

Legal Authority: 15 USC 78c(b); 15 USC 78m; 15 USC 78n; 15 USC 78o; 15

USC 78w(a); 15 USC 78mm; 15 USC 80a-10; 15 USC 80a-20(a); 15 USC 80a-37

Abstract: The Commission adopted amendments to the proxy and related

rules to enable long-term shareholders with significant holdings to

include nominees to the board of directors in company proxy materials.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 06/18/09 74 FR 29024

NPRM Comment Period End 08/17/09

Comment Period Extended 12/18/09 74 FR 67145

Comment Period End 02/16/10

Final Action 09/16/10 75 FR 56668

Final Action Effective 11/15/10

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Lillian C. Brown, Division of Corporation Finance,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-3430

RIN: 3235-AK27

_______________________________________________________________________

616. REVISIONS TO REGULATION D

Legal Authority: 15 USC 77b(a)(15); 15 USC 77b(b); 15 USC 77d; 15 USC

77r; 15 USC 77s; 15 USC 77s(a); 15 USC 77z-3

Abstract: The Commission is withdrawing this rulemaking because the

Dodd-Frank Wall Street Reform and Consumer Protection Act requires

rulemaking in this area. The Division is considering recommending

action to the Commission that complies with the statutory requirements.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

Withdrawn 10/01/10

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Anthony G. Barone, Division of Corporation Finance,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-3460

RIN: 3235-AK52

_______________________________________________________________________

Securities and Exchange Commission (SEC) Final Rule Stage

Division of Investment Management

_______________________________________________________________________

617. TEMPORARY RULE REGARDING PRINCIPAL TRADES WITH CERTAIN ADVISORY

CLIENTS

Legal Authority: 15 USC 80b-6a; 15 USC 80b-11(a)

Abstract: The Division is considering recommending that the Commission

propose an amendment to extend the sunset date of Rule 206(3)-3T, a

rule that provides investment advisers who are also registered broker-

dealers an alternative means of compliance with the principal trading

restrictions in Section 206(3) of the Investment Advisers Act.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

Interim Final Rule 09/28/07 72 FR 55022

Interim Final Rule Effective 09/30/07

Interim Final Rule Comment

Period End 11/30/07

Interim Final Rule Extension 12/30/09 74 FR 690009

Interim Final Rule Effective 12/30/09

Interim Final Rule Extension 12/00/10

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Matthew Goldin, Division of Investment Management,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-6726

Fax: 202 772-9284

Email: [email protected]

RIN: 3235-AJ96

_______________________________________________________________________

Securities and Exchange Commission (SEC) Completed Actions

Division of Investment Management

_______________________________________________________________________

618. AMENDMENTS TO FORM ADV

Legal Authority: 15 USC 80b-4, 80b-6(4), 80b-ll(a), 80b-3(c)(1); 15 USC

77s(a); 15 USC 78(wa), 78bb(e)(2); 15 USC 77sss(a); 15 USC 78a-37(a)

Abstract: The Commission adopted amendments to Form ADV part 2 to

require registered investment advisers to deliver to clients and

prospective

[[Page 79942]]

clients a brochure written in plain English.

The amendments are designed to require advisers to provide clients and

prospective clients with clear, current, and more meaningful disclosure

of the business practices, conflicts of interest, and background of

investment advisers and their advisory personnel. Advisers will file

their brochures with the Commission electronically, and the brochures

will be available to the public through the Commission's Web site.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 04/17/00 65 FR 20524

NPRM Comment Period End 06/03/00

Second NPRM 03/14/08 73 FR 13958

Second NPRM Comment Period End 05/16/08

Final Action 08/12/10 75 FR 49234

Final Action Effective 10/12/10

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Vivien Liu, Division of Investment Management,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-6728

Email: [email protected]

RIN: 3235-AI17

_______________________________________________________________________

619. POLITICAL CONTRIBUTIONS BY CERTAIN INVESTMENT ADVISERS

Legal Authority: 15 USC 80b-6(4); 15 USC 80b-11; 15 USC 80b-4

Abstract: The Commission adopted a new rule under the Investment

Advisers Act that prohibits an investment adviser from providing

advisory services for compensation to a government client for two years

after the adviser or certain of its executives or employees make a

contribution to certain elected officials or candidates.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 08/07/09 74 FR 39840

NPRM Comment Period End 10/06/09

Final Action 07/14/10 75 FR 41018

Final Action Effective 09/13/10

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Melissa Roverts, Division of Investment Management,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-6722

Fax: 202 772-2934

Email: [email protected]

RIN: 3235-AK39

_______________________________________________________________________

620. INDEXED ANNUITIES AND CERTAIN OTHER INSURANCE CONTRACTS

Legal Authority: 15 USC 77c(a)(8); 15 USC 77s(a); 15 USC 78l(h); 15 USC

78o; 15 USC 78w(a); 15 USC 78mm

Abstract: On January 8, 2009, the Commission issued a release adopting

Rule 151A under the Securities Act. Rule 151A defines the terms

``annuity contract'' and ``optional annuity contract'' under the

Securities Act. The rule was intended to clarify the status under the

federal securities laws of indexed annuities, under which payments to

the purchaser are dependent on the performance of a securities index.

On July 12, 2010, a Federal appeals court issued an order vacating rule

151A. The Commission issued a release withdrawing Rule 151A.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

Withdrawn 10/01/10

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Michael Kosoff, Division of Investment Management,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-6754

Fax: 202 772-9285

Email: [email protected]

RIN: 3235-AK49

_______________________________________________________________________

Securities and Exchange Commission (SEC) Proposed Rule Stage

Division of Trading and Markets

_______________________________________________________________________

621. AMENDMENTS TO RULE 17A-5

Legal Authority: 15 USC 78q

Abstract: The Division is considering recommending that the Commission

propose amendments to Rule 17a-5 dealing with, among other things,

broker-dealer custody of assets.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 12/00/10

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Rebekah Goshorn, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5514

Fax: 202 772-9333

Email: [email protected]

RIN: 3235-AK56

_______________________________________________________________________

622. PUBLICATION OR SUBMISSION OF QUOTATIONS WITHOUT SPECIFIED

INFORMATION

Legal Authority: 15 USC 78c; 15 USC 78j(b); 15 USC 78o(c); 15 USC

78o(g); 15 USC 78q(a); 15 USC 78w(a)

Abstract: As part of its efforts to respond to fraud and manipulation

in the microcap securities market, the Commission proposed amendments

to Rule 15c2-11. These amendments would limit the rule's piggyback

provision and increase public availability of issuer information. The

amendments would expand the information review requirements for non-

reporting issuers and the documentation required for significant

relationships between the broker-dealer and the issuer of the security

to be quoted. Finally, the amendments would exclude from the rule

securities of larger, more liquid issuers.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 02/25/98 63 FR 9661

NPRM Comment Period End 04/27/98

Second NPRM 03/08/99 64 FR 11124

Second NPRM Comment Period End 04/07/99

[[Page 79943]]

Second NPRM Comment Period

Extended 04/14/99 64 FR 18393

Comment Period End 05/08/99

Third NPRM 09/00/11

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Victoria L. Crane, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5744

Fax: 202 772-9355

Email: [email protected]

RIN: 3235-AH40

_______________________________________________________________________

Securities and Exchange Commission (SEC) Final Rule Stage

Division of Trading and Markets

_______________________________________________________________________

623. TRANSITIONAL REGISTRATION AS A MUNICIPAL ADVISOR

Legal Authority: PL 111-203, sec 975

Abstract: The Commission adopted an interim final temporary rule to

require all municipal advisors to register with it by October 1, 2010,

consistent with the Dodd-Frank Wall Street Reform and Consumer

Protection Act.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

Interim Final Rule 09/08/10 75 FR 54465

Interim Final Rule Effective 10/01/10

Interim Final Rule Comment

Period End 10/08/10

Interim Final Rule Effective

Through 12/31/11

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Ira Brandriss, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5681

Email: [email protected]

RIN: 3235-AK69

_______________________________________________________________________

624. CONSOLIDATED AUDIT TRAIL

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

Abstract: The Commission proposed a rule that would require national

securities exchanges and national securities associations to act

jointly in developed a national market system (``NMS'') plan to

develop, implement, and maintain a consolidated order tracking system,

or consolidated audit trail, with respect to the trading of NMS

securities.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 06/08/10 75 FR 32556

NPRM Comment Period End 08/09/10

Final Action 03/00/11

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Jennifer L. Colihan, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5642

Email: [email protected]

RIN: 3235-AK51

_______________________________________________________________________

625. PROPOSED RULES FOR NATIONALLY RECOGNIZED STATISTICAL RATING

ORGANIZATIONS

Legal Authority: 15 USC 78o-7; 15 USC 89q

Abstract: The Commission proposed rule amendments and a new rule that

would require nationally recognized statistical rating organizations

(``NRSROs'') to furnish a new annual report by the firm's designated

compliance officers, to disclose additional information about firm

sources of revenue, and to make publicly available a consolidated

report about revenues attributable to persons paying the NRSRO for the

issuance or maintenance of a credit rating.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 06/25/08 73 FR 36212

NPRM Comment Period End 07/25/08

Final Rule 02/09/09 74 FR 6465

Second NPRM 02/09/09 74 FR 6485

Second NPRM Comment Period End 03/26/09

Final Rule 12/04/09 74 FR 63832

Final Rule Effective 02/01/10

Third NPRM 12/04/09 74 FR 63866

Third NPRM Comment Period End 02/02/10

Final Action 07/00/11

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Sheila Swartz, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5545

Fax: 202 772-9273

Email: [email protected]

RIN: 3235-AK14

[[Page 79944]]

_______________________________________________________________________

Securities and Exchange Commission (SEC) Long-Term Actions

Division of Trading and Markets

_______________________________________________________________________

626. CONFIRMATION OF TRANSACTIONS IN OPEN-END MANAGEMENT INVESTMENT

COMPANY SHARES, UNIT INVESTMENT TRUST INTERESTS, AND MUNICIPAL FUND

SECURITIES USED FOR EDUCATION SAVINGS

Legal Authority: 15 USC 78j; 15 USC 78k; 15 USC 78o; 15 USC 78q; 15 USC

78w(a); 15 USC 78mm

Abstract: The Commission proposed new Rule 15c2-2 under the Exchange

Act, together with accompanying Schedule 15C. The Commission also

proposed related amendments to Rule 10b-10. Proposed Rule 15c2-2 and

Schedule 15C would provide for improved confirmation disclosure of

distribution costs and conflicts of interest associated with

transactions in mutual funds, municipal fund securities, and unit

investment trusts. The amendments to Rule 10b-10 in part would reflect

the new rule and would provide improved confirmation disclosure about

certain callable securities. They also would clarify that the

confirmation disclosure requirements do not determine broker-dealer

disclosure obligations under other provisions of the law.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 02/10/04 69 FR 6438

NPRM Comment Period End 04/12/04

NPRM Comment Period Extended 03/04/05 70 FR 10521

NPRM Comment Period End 04/04/05

Next Action Undetermined

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Alicia Goldin, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5618

Fax: 202 772-9270

Email: [email protected]

RIN: 3235-AJ11

_______________________________________________________________________

627. POINT-OF-SALE DISCLOSURE OF PURCHASES IN OPEN-END MANAGEMENT

INVESTMENT COMPANY SHARES, UNIT INVESTMENT TRUST INTERESTS, AND

MUNICIPAL FUND SECURITIES USED FOR EDUCATION SAVINGS

Legal Authority: 15 USC 78j; 15 USC 78k; 15 USC 78o; 15 USC 78q; 15 USC

78w(a); 15 USC 78mm

Abstract: The Commission proposed new Rule 15c2-3 under the Exchange

Act, together with accompanying Schedule 15D. Proposed Rule 15c2-3 and

Schedule 15D would provide for pre-transaction ``point of sale''

disclosure of distribution costs and conflicts of interest associated

with transactions in mutual funds, municipal fund securities, and unit

investment trusts.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 02/10/04 69 FR 6438

NPRM Comment Period End 04/12/04

NPRM Comment Period Extended 03/04/05 70 FR 10521

NPRM Comment Period End 04/04/05

Next Action Undetermined

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Alicia Goldin, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5618

Fax: 202 772-9270

Email: [email protected]

RIN: 3235-AJ12

_______________________________________________________________________

628. RULE 15C-100: SCHEDULE 15C

Legal Authority: 15 USC 78j; 15 USC 78k; 15 USC 78o; 15 USC 78q; 15 USC

78w(a); 15 USC 78mm

Abstract: The Commission proposed new Schedule 15C and Rules 15c2-2 and

15c2-3 under the Exchange Act, together with accompanying Schedule 15D.

The Commission also proposed related amendments to Rule 10b-10.

Proposed Rules 15c2-2 and 15c2-3 and Schedules 15C and 15D would

provide for improved confirmation and pre-transaction ``point of sale''

disclosure of distribution costs and conflicts of interest associated

with transactions in mutual funds, municipal fund securities, and unit

investment trusts. The amendments to Rule 10b-10 in part would reflect

the new rules and would provide improved confirmation disclosure about

certain callable securities. They also would clarify that the

confirmation disclosure requirements do not determine broker-dealer

disclosure obligations under other provisions of the law.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 02/10/04 69 FR 6438

NPRM Comment Period End 04/12/04

NPRM Comment Period Extended 03/04/05 70 FR 10521

NPRM Comment Period End 04/04/05

Next Action Undetermined

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Alicia Goldin, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5618

Fax: 202 772-9270

Email: [email protected]

RIN: 3235-AJ13

_______________________________________________________________________

629. RULE 15C-101: SCHEDULE 15D

Legal Authority: 15 USC 78j; 15 USC 78k; 15 USC 78o; 15 USC 78q; 15 USC

78w(a); 15 USC 78mm

Abstract: The Commission proposed new Rule 15c2-3 under the Exchange

Act, together with accompanying Schedule 15D. Proposed Rule 15c2-3 and

Schedule 15D would provide for pre-transaction ``point of sale''

disclosure of distribution costs and conflicts of interest associated

with transactions in mutual funds, municipal fund securities, and unit

investment trusts.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 02/10/04 69 FR 6438

NPRM Comment Period End 04/12/04

NPRM Comment Period Extended 03/04/05 70 FR 10521

NPRM Comment Period End 04/04/05

Next Action Undetermined

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Alicia Goldin, Division of Trading and Markets,

[[Page 79945]]

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5618

Fax: 202 772-9270

Email: [email protected]

RIN: 3235-AJ14

_______________________________________________________________________

630. PROCESSING OF REORGANIZATION EVENTS, TENDER OFFERS, AND EXCHANGE

OFFERS

Legal Authority: 15 USC 78b; 15 USC 78k-1(a)(1)(B); 15 USC 78n(d)(4);

15 USC 78o(c)(3); 15 USC 78o(c)(6); 15 USC 78q-1(a); 15 USC 78q-

1(d)(1); 15 USC 78w(a)

Abstract: The Commission proposed amendments to Rule 17Ad-14 under the

Exchange Act. The amendments would require the establishment of book-

entry accounts in connection with reorganization events and would give

securities depositories up to 3 business days after the expiration of a

tender offer, exchange offer, or reorganization event to deliver

physical securities certificates to the agents.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 09/04/98 63 FR 47209

NPRM Comment Period End 11/03/98

Next Action Undetermined

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Jerry Carpenter, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5710

Fax: 202 772-9270

Email: [email protected]

RIN: 3235-AH53

_______________________________________________________________________

Securities and Exchange Commission (SEC) Completed Actions

Division of Trading and Markets

_______________________________________________________________________

631. AMENDMENT TO MUNICIPAL SECURITIES DISCLOSURE

Legal Authority: 15 USC 78b; 15 USC 78c(b); 15 USC 78j; 15 USC 78o(c);

15 USC 78o-4; 15 USC 78q; 15 USC 78w(a)(1)

Abstract: The Commission amended Rule 15c2-12 under section 15 of the

Exchange Act to improve the system of provided interpretive guidance

for the municipal securities markets that would reflect changes in that

market.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 07/24/09 74 FR 36832

NPRM Comment Period End 09/08/09

Final Action 06/01/10 75 FR 33100

Final Action Effective 08/09/10

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Martha Mahan Haines, Division of Trading and Markets,

Securities and Exchange Commission, 100 F Street NE, Washington, DC

20549

Phone: 202 551-5681

Fax: 703 772-9274

Email: [email protected]

RIN: 3235-AJ66

[FR Doc. 2010-30469 Filed 12-17-10; 8:45 am]

BILLING CODE 8010-01-S