Reports to be Made by Certain Brokers and Dealers

SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 240

[Release No. 34-39858; IC-23112; IA-1716; File No. S7-7-98]

RIN 3235-AH36

Reports to be Made by Certain Brokers and Dealers

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule; extension of comment period.

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SUMMARY: The Securities and Exchange Commission is extending the

comment period for a release proposing temporary rule amendments under

the Securities Exchange Act of 1934 (Release No. 34-39724) which was

published in the Federal Register on March 12, 1998 (63 FR 12056). The

comment period for Release Nos. 34-39724; IC-23059; IA-1704, is being

extended to April 27, 1998.

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. Comments also may be

submitted electronically at the following E-mail address: rule-

[email protected]. Comment letters should refer to File No. S7-7-98;

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: Michael A. Macchiaroli, Associate

Director, 202/942-0132; Lester Shapiro, Senior Accountant, 202/942-

0757; or Christopher M. Salter, Staff Attorney, 202/942-0148, Division

of Market Regulation, Securities and Exchange Commission, 450 Fifth

Street, N.W., Mail Stop 2-2, Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: On March 5, 1998, the Commission issued for

comment Release No. 34-39724; IC-23059; IA-1704 soliciting comment on

temporary rule amendments to Rule 17a-5 under the Securities Exchange

Act of 1934 that would require certain broker-dealers to file with the

Commission and their designated examining authority two reports

regarding Year 2000 compliance. The reports would enable the Commission

staff to report to Congress in 1998 and 1999 regarding the industry's

preparedness; supplement the Commission's examination module for Year

2000 issues; help the Commission coordinate self-regulatory

organizations on industry-wide testing, implementation, and contingency

planning; and help increase broker-dealer awareness that they should be

taking specific steps now to prepare for the Year 2000. Additionally,

the Commission issued an advisory notice on its books and records rules

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 from April 13,

1998, to April 27, 1998.

Dated: April 14, 1998.

By the Commission.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98-10417 Filed 4-20-98; 8:45 am]

BILLING CODE 8010-01-P