Books and Records Requirements for Brokers and Dealers Under the Securities Exchange Act of 1934

SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 240

[Release No. 34-40643; File No. S7-26-98]

RIN 3235-AH04

Books and Records Requirements for Brokers and Dealers Under the

Securities Exchange Act of 1934

AGENCY: Securities and Exchange Commission.

ACTION: Reproposed rule; extension of comment period.

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SUMMARY: The Securities and Exchange Commission is extending the

comment period for a release reproposing books and records requirements

for broker-dealers under the Securities Exchange Act of 1934 (Release

No. 34-40518) which was published in the Federal Register on October 9,

1998 (63 FR 54404). The comment period for Release No. 34-40518, is

being extended to December 9, 1998.

DATES: Comments must be received on or before December 9, 1998.

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

Katz, Secretary, Securities and Exchange Commission (``Commission''),

450 Fifth Street, N.W., Mail Stop 6-9, Washington, D.C. 20549. Comments

also may be submitted electronically at the following E-mail address:

[email protected]. Comment letters should refer to File No. S7-26-

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) 942-0131; Thomas K. McGowan, Assistant Director, (202)

942-4886; or Deana A. La Barbera, Attorney, (202) 942-0734, Division of

Market Regulation, Securities and Exchange Commission, 450 Fifth

Street, N.W., Mail Stop 10-1, Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: On October 2, 1998, the Commission issued

for comment Release No. 34-40518 soliciting comment on reproposed

amendments to the Commission's books and records rules, Rules 17a-3 and

17a-4 under the Securities Exchange Act of 1934. Specifically, the

reproposed amendments are designed to clarify and expand recordkeeping

requirements with respect to purchase and sale documents, customer

records, associated person records, customer complaints, and certain

other matters. The reproposed amendments also specify the books and

records that broker-dealers would have to make available at their local

offices. The reproposed books and records rules are specifically

designed to assist securities regulators when conducting sales practice

examinations.

The Commission originally requested that comments on this

reproposal be received by November 9, 1998. The Commission has recently

received requests to extend the comment period and believes that

extending the comment period is appropriate in order to give the public

additional time to comment on the matters 1 addressed by the release.

Therefore, the Commission is extending to December 9, 1998 the comment

period for Release No. 34-40518 (Books and Records Requirements for

Brokers and Dealers Under the Securities Exchange Act of 1934).

Dated: November 5, 1998.

By the Commission.

Jonathan G. Katz,

Secretary.

[FR Doc. 98-30249 Filed 11-10-98; 8:45 am]

BILLING CODE 8010-01-P