Securities Act Concepts and Their Effects on Capital Formation

SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 33-7329; 34-37672, International Series Release No. 1018,

File No. S7-19-96]

RIN 3235-AG83

Securities Act Concepts and Their Effects on Capital Formation

AGENCY: Securities and Exchange Commission.

ACTION: Extension of comment period.

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SUMMARY: The expiration date of the comment period with respect to the

Commission's concept release on Securities Act reform, Release No. 33-

7314 (61 FR 40044), is extended from September 30, 1996 to October 31,

1996.

DATES: Comments should be received on or before October 31, 1996.

ADDRESSES: Comments should be submitted in triplicate to Jonathan G.

Katz, Secretary, U.S. Securities and Exchange Commission, 450 Fifth

Street, N.W., Stop 6-9, Washington, D.C., 20549. Comments also may be

submitted electronically to the following electronic mail address:

[email protected]. All comment letters should refer to File No. S7-

19-96; this file number should be included in the subject line if

electronic mail is used. Comment letters 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: Anita Klein, Office of Chief Counsel,

Division of Corporation Finance, (202) 942-2900.

SUPPLEMENTARY INFORMATION: On July 25, 1996, the Commission issued a

concept release (Release No. 33-7314 [61 FR 40044]) to solicit public

comment on the best means of improving the regulation of the capital

formation process while maintaining or enhancing investor protection.

The Commission is engaged in a broad reexamination of the regulatory

framework for the offer and sale of securities under the Securities Act

of 1933. Comment was solicited on a number of possible approaches to

improving the registration process. Among them are: the recommendation

of the Advisory Committee on the Capital Formation and Regulatory

Processes to implement a ``company registration'' approach;

modifications to the existing shelf registration system (many of which

were recommended by the Commission's Task Force on Disclosure

Simplification); reforms that would liberalize the treatment of

unregistered securities; and an approach that would involve

deregulation of offers. The comment period with respect to the concept

release was scheduled to end on September 30, 1996. In order to provide

additional time for commenters to consider the issues discussed in the

concept release, the Commission has extended the comment period on the

concept release until October 31, 1996.

Dated: September 12, 1996.

By the Commission.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 96-23901 Filed 9-17-96; 8:45 am]

BILLING CODE 8010-01-P