[No title available]
Federal RegisterMay 11, 2009
Ask Donna
What actually matters in this document.
Text
Part XXI
Securities and Exchange Commission
-----------------------------------------------------------------------
Semiannual Regulatory Agenda
[[Page 22074]]
SECURITIES AND EXCHANGE COMMISSION (SEC)
_______________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
17 CFR Ch. II
[Release Nos. 33-9020, 34-59634, IA-2858, IC-28679, File No. S7-07-09]
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 March 25, 2009, 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 July 31, 2009.
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 S7-07-09 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. S7-07-09. 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 Web site (http://www.sec.gov/rules/
other.shtml). Comments are also available for public inspection and
copying 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: March 26, 2009.
Elizabeth M. Murphy,
Secretary.
DIVISION OF CORPORATION FINANCE--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
417 Amendments to Rules Requiring Internet Availability of Proxy Materials................ 3235-AK25
----------------------------------------------------------------------------------------------------------------
DIVISION OF CORPORATION FINANCE--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
418 Revisions of Limited Offering Exemptions in Regulation D.............................. 3235-AJ88
419 Proxy Disclosure Regarding Executive Compensation and Related Party Transactions...... 3235-AI80
----------------------------------------------------------------------------------------------------------------
[[Page 22075]]
DIVISION OF CORPORATION FINANCE--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
420 Interactive Data To Improve Financial Reporting....................................... 3235-AJ71
421 Electronic Shareholder Forums......................................................... 3235-AJ92
422 Modernization of Oil and Gas Reporting................................................ 3235-AK00
----------------------------------------------------------------------------------------------------------------
DIVISION OF INVESTMENT MANAGEMENT--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
423 Political Contributions by Certain Investment Advisers................................ 3235-AH72
424 Temporary Rule Regarding Principal Trades With Certain Advisory Clients............... 3235-AJ96
----------------------------------------------------------------------------------------------------------------
DIVISION OF INVESTMENT MANAGEMENT--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
425 Amendments to Form ADV................................................................ 3235-AI17
----------------------------------------------------------------------------------------------------------------
DIVISION OF INVESTMENT MANAGEMENT--Completed Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
426 Interactive Data for Mutual Fund Risk/Return Summary.................................. 3235-AK13
427 Enhanced Disclosure and New Prospectus Delivery Option for Registered Open-End 3235-AJ44
Management Investment Companies.......................................................
428 Rulemaking for EDGAR System: Mandatory Electronic Submission of Applications for 3235-AJ81
Orders Under the Investment Company Act and Filings Made Pursuant to Regulation E.....
429 Indexed Annuities and Certain Other Insurance Contracts............................... 3235-AK16
----------------------------------------------------------------------------------------------------------------
DIVISION OF TRADING AND MARKETS--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
430 Rule 15c2-2: Confirmation of Transactions in Open-End Management Investment Company 3235-AJ11
Shares, Unit Investment Trust Interests, and Municipal Fund Securities Used for
Education Savings.....................................................................
431 Rule 15c2-3: Point-of-Sale Disclosure of Purchases in Open-End Management Investment 3235-AJ12
Company Shares, Unit Investment Trust Interests, and Municipal Fund Securities Used
for Education Savings.................................................................
432 Rule 15c-100: Schedule 15C............................................................ 3235-AJ13
433 Rule 15c-101: Schedule 15D............................................................ 3235-AJ14
434 Processing of Reorganization Events, Tender Offers, and Exchange Offers............... 3235-AH53
----------------------------------------------------------------------------------------------------------------
DIVISION OF TRADING AND MARKETS--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
435 Amendments to Regulation SHO.......................................................... 3235-AK22
436 Proposed Rules for Nationally Recognized Statistical Rating Organizations............. 3235-AK14
----------------------------------------------------------------------------------------------------------------
[[Page 22076]]
DIVISION OF TRADING AND MARKETS--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
Regulation
Sequence Title Identifier
Number Number
----------------------------------------------------------------------------------------------------------------
437 Publication or Submission of Quotations Without Specified Information................. 3235-AH40
----------------------------------------------------------------------------------------------------------------
_______________________________________________________________________
Securities and Exchange Commission (SEC) Proposed Rule Stage
Division of Corporation Finance
_______________________________________________________________________
417. AMENDMENTS TO RULES REQUIRING INTERNET
AVAILABILITY OF PROXY MATERIALS
Legal Authority: 15 USC 78c(b); 15 USC 78j; 15 USC 78m; 15 USC 78n; 15
USC 78o; 15 USC 78w(a); 15 USC 78mm; 15 USC 80a-20; 15 USC 80a-29; 15
USC 80a-37
Abstract: The Division is considering recommending that the Commission
propose revisions to the notice and access model for providing proxy
materials to shareholders electronically.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 05/00/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Steven Hearne, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-3430
RIN: 3235-AK25
_______________________________________________________________________
Securities and Exchange Commission (SEC) Final Rule Stage
Division of Corporation Finance
_______________________________________________________________________
418. REVISIONS OF LIMITED OFFERING EXEMPTIONS IN REGULATION D
Legal Authority: 15 USC 77b(a)(15); 15 USC 77b(b); 15 USC 77c(b); 15
USC 77d; 15 USC 77r; 15 USC 77s; 15 USC 77s(a); 15 USC 77z-3
Abstract: The Commission proposed a new exemption from the registration
provisions of the Securities Act for offers and sales of securities to
``large accredited'' investors in offerings where each purchaser meets
that definition. The Commission also proposed changes to the definition
of the term ``accredited investor'' in Regulation D to reflect
developments since its first adoption. Finally, the Commission proposed
shortening the timing required by the integration safe harbor in
Regulation D and applying uniform updated disqualification provisions
to all offerings under Regulations A, D, and E.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 08/10/07 72 FR 45116
NPRM Comment Period End 10/09/07
Final Action 07/00/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Anthony G. Barone, Office of Small Business Policy,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-3460
RIN: 3235-AJ88
_______________________________________________________________________
419. PROXY DISCLOSURE REGARDING EXECUTIVE COMPENSATION AND RELATED PARTY
TRANSACTIONS
Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq; 15 USC 80a et
seq
Abstract: The Division is considering recommending that the Commission
propose additional measures to promote clear, cogent, and full
disclosure of executive compensation and how compensation decisions are
made.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 02/08/06 71 FR 6542
NPRM Comment Period End 04/10/06
Final Rule 09/08/06 71 FR 53158
Final Rule Effective 11/07/06
Second NPRM 09/08/06 71 FR 53267
Second NPRM Comment Period End 10/23/06
Interim Final Rule 12/29/06 71 FR 78338
Interim Final Rule Effective 12/29/06
Interim Final Rule Comment
Period End 01/29/07
Final Action 09/00/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Anne Krauskopf, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-3500
RIN: 3235-AI80
[[Page 22077]]
_______________________________________________________________________
Securities and Exchange Commission (SEC) Completed Actions
Division of Corporation Finance
_______________________________________________________________________
420. INTERACTIVE DATA TO IMPROVE FINANCIAL REPORTING
Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq; 15 USC 77nnn; 15
USC 77sss; 15 USC 80a et seq; PL 107-204, 116 Stat 745
Abstract: The Commission adopted rules requiring companies to provide
financial statement information in an interactive data form that will
improve its usefulness to investors. Under the rules, financial
statement information can be downloaded directly into spreadsheets,
analyzed in a variety of ways using commercial off-the-shelf software,
and used within investment models in other software formats.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 06/10/08 73 FR 32794
NPRM Comment Period End 08/01/08
Final Action 02/10/09 74 FR 6776
Final Action Effective 04/19/09
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: 202 551-3430
Email: [email protected]
RIN: 3235-AJ71
_______________________________________________________________________
421. ELECTRONIC SHAREHOLDER FORUMS
Legal Authority: 15 USC 77c(b); 15 USC 78m; 15 USC 78n; 15 USC 78o; 15
USC 78p; 15 USC 78w(a)
Abstract: The Commission adopted amendments to the proxy rules under
the Exchange Act facilitating the creation of electronic shareholder
forums; other aspects of the proposed rulemaking, including proposed
amendments to enable shareholders to include in company proxy materials
their proposals for bylaw amendments regarding procedures for
nominating candidates to the board of directors, remain under
consideration.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 08/03/07 72 FR 43466
NPRM Comment Period End 10/02/07
Final Rule 01/25/08 73 FR 4450
Final Rule Effective 02/25/08
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Steven Hearne, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-3430
RIN: 3235-AJ92
_______________________________________________________________________
422. MODERNIZATION OF OIL AND GAS REPORTING
Legal Authority: 15 USC 77a et seq; 15 USC 78a et seq
Abstract: The Commission adopted revisions to its oil and gas reporting
requirements in the current form in Regulation S--K and Regulation S--X
under the Securities Act and the Exchange Act.
The revisions are intended to provide investors with a more meaningful
and comprehensive understanding of oil and gas reserves, which should
help investors evaluate the relative value of oil and gas companies.
They codify Industry Guide 2 in Regulation S--K, with several additions
to, and deletions of, current Industry Guide items. They also harmonize
oil and gas disclosures by foreign private issuers with the proposed
disclosures for domestic issuers.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
ANPRM 12/12/07 72 FR 71610
ANPRM Comment Period End 02/19/08
NPRM 07/09/08 73 FR 39526
NPRM Comment Period End 09/08/08
Final Action 01/14/09 74 FR 2158
Final Action Effective 01/01/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Melissa Duru, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-3740
RIN: 3235-AK00
_______________________________________________________________________
Securities and Exchange Commission (SEC) Proposed Rule Stage
Division of Investment Management
_______________________________________________________________________
423. POLITICAL CONTRIBUTIONS BY CERTAIN INVESTMENT ADVISERS
Legal Authority: 15 USC 204; 15 USC 206(4); 15 USC 211(a)
Abstract: The Commission proposed new Rule 206(4)-5, which would
prohibit an investment adviser from providing advisory services for
compensation to a Government client for 2 years after the adviser or
any of its partners, executive officers, or solicitors makes a
contribution to certain elected officials or candidates.
The Commission also proposed rule amendments that would require a
registered adviser that has Government clients to maintain certain
records of the political contributions made by the adviser or any of
its partners, executive officers, or solicitors. The Division is
considering recommending that the Commission re-propose a rule related
to political contributions made by certain investment advisers.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 08/10/99 64 FR 43556
NPRM Comment Period End 11/01/99
Second NPRM 10/00/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Daniel Seth Kahl, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-6730
Email: [email protected]
RIN: 3235-AH72
_______________________________________________________________________
424. TEMPORARY RULE REGARDING PRINCIPAL TRADES WITH CERTAIN ADVISORY
CLIENTS
Legal Authority: 15 USC 80b-6a; 15 USC 80b-11(a)
Abstract: The Commission adopted an interim final temporary rule that
will expire on December 31, 2009, to provide an alternative means for
[[Page 22078]]
investment advisers who are registered with the Commission as broker-
dealers to meet the requirements of section 206(3) of the Investment
Advisers Act when acting in a principal capacity in transactions with
certain of their advisory clients.
As contemplated in the temporary rule release, the Division has been
assessing the operation of the temporary rule as well as public comment
letters. In that connection, the Division is considering recommending
that the Commission propose modifications to the rule.
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
NPRM 06/00/09
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) Final Rule Stage
Division of Investment Management
_______________________________________________________________________
425. AMENDMENTS TO FORM ADV
Legal Authority: 15 USC 80b-4, 80b-6(4), 80bll(a), 80b-3(c)(1); 15 USC
77s(a); 15 USC 78(a), 78bbb(e)(2); 15 USC 77sss(a); 15 USC 78(s)-37(a)
Abstract: The Commission proposed amendments to Form ADV part 2 to
require registered investment advisers to deliver to clients and
prospective 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. Under the proposal,
advisers would file their brochures with the Commission electronically,
and the brochures would 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 11/00/09
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
_______________________________________________________________________
Securities and Exchange Commission (SEC) Completed Actions
Division of Investment Management
_______________________________________________________________________
426. INTERACTIVE DATA FOR MUTUAL FUND RISK/RETURN SUMMARY
Legal Authority: 15 USC 77e; 15 USC 77f; 15 USC 77j; 15 USC 77s(a); 15
USC 77z-3; 15 USC 78c; 15 USC 78j; 15 USC 78l; 15 USC 78m; 15 USC 78n;
15 USC 78o(d); 15 USC 78w(a); 15 uSC 78jj; 15 USC 78mm; 15 USC 80a-
6(c); 15 USC 80a-8; 15 USC 80a-24(e); 15 USC 80a-29; 15 USC 80a-37
Abstract: The Commission adopted rules requiring mutual funds to
provide risk/return summary information in an interactive data format,
which would improve its usefulness to investors. Under the rules, risk/
return summary information could be downloaded directly into
spreadsheets, analyzed in a variety of ways using commercial off-the-
shelf software, and used within investment models in other software
formats.
Mutual funds will provide the risk/return summary section of their
prospectuses to the Commission and on their Web sites in interactive
data format using the eXtensible Business Reporting Language, XBRL. The
interactive data would be provided as an exhibit to registration
statements.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 06/23/08 73 FR 35442
NPRM Comment Period End 08/01/08
Final Action 02/19/09 74 FR 7748
Final Action Effective 07/15/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Alberto Zapata, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-6929
Email: [email protected]
RIN: 3235-AK13
_______________________________________________________________________
427. ENHANCED DISCLOSURE AND NEW PROSPECTUS DELIVERY OPTION FOR
REGISTERED OPEN-END MANAGEMENT INVESTMENT COMPANIES
Legal Authority: 15 USC 77a et seq; 15 USC 80a-1 et seq
Abstract: The Commission adopted comprehensive reforms of mutual fund
disclosure requirements on Form N-1A, including streamlining the
delivery of mutual fund information through increased use of the
Internet and other electronic means of delivery and clarifying the
disclosure of fees and expenses for mutual funds and exchange-traded
funds.
[[Page 22079]]
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/30/07 72 FR 67790
NPRM Comment Period End 02/28/08
NPRM Comment Period Reopened 08/06/08 73 FR 45646
Comment Period End 08/29/08
Final Action 01/26/09 74 FR 4546
Final Action Effective 03/31/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Kieran Brown, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-6773
Email: [email protected]
RIN: 3235-AJ44
_______________________________________________________________________
428. RULEMAKING FOR EDGAR SYSTEM: MANDATORY ELECTRONIC SUBMISSION OF
APPLICATIONS FOR ORDERS UNDER THE INVESTMENT COMPANY ACT AND FILINGS
MADE PURSUANT TO REGULATION E
Legal Authority: 15 USC 77f to 77h; 15 USC 77s(a); 15 USC 78c; 15 USC
78I to 78n; 15 USC 78o(d); 15 USC 78w(a); 15 USC 78II; 15 USC 80a-8; 15
USC 80a-29; 15 USC 80a-30; 15 USC 80a-37
Abstract: The Commission adopted rules for mandatory EDGAR submission
of applications and Regulation E filings under any section of the
Investment Company Act, as well as minor technical corrections to the
electronic filing rules.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 11/09/07 72 FR 67513
NPRM Comment Period End 12/14/07
Final Action 11/04/08 73 FR 65516
Final Action Effective 01/01/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Ruth Armfield Sanders, Division of Investment
Management, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549
Phone: 202 551-6960
Email: [email protected]
RIN: 3235-AJ81
_______________________________________________________________________
429. INDEXED ANNUITIES AND CERTAIN OTHER INSURANCE CONTRACTS
Legal Authority: 15 USC 77c(a)(8); 15 USC 77s(a); 15 USC 78l(h); 15 USC
78m; 15 USC 78o; 15 USC 78w(a); 15 USC 78mm
Abstract: The Commission adopted a new rule that defines the terms
``annuity contract'' and ``optional annuity contract'' under the
Securities Act. The rule is 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.
The Commission also adopted a new rule that exempts insurance companies
from filing reports under the Exchange Act with respect to indexed
securities and other insurance securities registered under the
Securities Act, provided that certain conditions are satisfied,
including that the securities are regulated under State insurance law,
the issuing insurance company and its financial condition are subject
to supervision and examination by a State insurance regulator, and the
securities are not publicly traded.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
NPRM 07/01/08 73 FR 37762
NPRM Comment Period End 09/10/08
NPRM Comment Period Extended 10/17/08 73 FR 61753
NPRM Comment Period End 11/17/08
Final Action 01/16/09 74 FR 3138
Final Action Effective 01/12/11
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-AK16
_______________________________________________________________________
Securities and Exchange Commission (SEC) Proposed Rule Stage
Division of Trading and Markets
_______________________________________________________________________
430. RULE 15C2-2: 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
Second NPRM 12/00/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Dawn Jessen, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5550
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AJ11
[[Page 22080]]
_______________________________________________________________________
431. RULE 15C2-3: 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 Schedule15D. 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
Second NPRM 12/00/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Dawn Jessen, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5550
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AJ12
_______________________________________________________________________
432. 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
Second NPRM 12/00/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Dawn Jessen, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5550
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AJ13
_______________________________________________________________________
433. 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 Schedule 15D and Rules 15c2-2 and
15c2-3 under the Exchange Act, together with accompanying Schedule 15C.
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
Second NPRM 12/00/09
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Dawn Jessen, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549
Phone: 202 551-5550
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AJ14
_______________________________________________________________________
434. 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
Second NPRM 03/00/10
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Matthew Landon, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549-1001
Phone: 202 551-5716
Fax: 202 772-9270
Email: [email protected]
RIN: 3235-AH53
[[Page 22081]]
_______________________________________________________________________
Securities and Exchange Commission (SEC) Final Rule Stage
Division of Trading and Markets
_______________________________________________________________________
435. AMENDMENTS TO REGULATION SHO
Legal Authority: 15 USC 78b and 78c(b); 15 USC 78F; 15 USC 78j; 15 USC
78k-1; 15 USC 78l(h); 15 USC 78o and 78o-3; 15 USC 78q and 78q-1; 15
USC 78s; 15 USC 78w(a)
Abstract: The Commission adopted an interim final rule, Rule 204T, to
address abusive ``naked'' short selling in all equity securities by
requiring that participants of a clearing agency registered with the
Commission deliver securities by settlement date, or if the
participants have not delivered shares by settlement date, immediately
purchase or borrow securities to close out the fail to deliver position
by no later than the beginning of regular trading hours on the
settlement day following the day the participant incurred the fail to
deliver position.
Timetable:
________________________________________________________________________
Action Date FR Cite
________________________________________________________________________
Interim Final Rule 10/17/08 73 FR 61706
Interim Final Rule Effective 10/17/08
Interim Final Rule Comment
Period End 12/16/08
Next Action 07/00/09
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-AK22
_______________________________________________________________________
436. PROPOSED RULES FOR NATIONALLY RECOGNIZED STATISTICAL RATING
ORGANIZATIONS
Legal Authority: 15 USC 78o-7; 15 USC 89q
Abstract: The Commission adopted rule amendments that impose additional
requirements on nationally recognized statistical rating organizations
(``NRSROs'') in order to address concerns about the integrity of their
credit rating procedures and methodologies in light of the role they
played in determining credit ratings for securities collateralized by
or linked to subprime residential mortgages.
The Commission simultaneously proposed rule amendments regarding the
disclosure of ratings history. The proposed rules also repropose
certain amendments to Rule 17g-5.
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 Action 09/00/09
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
_______________________________________________________________________
Securities and Exchange Commission (SEC) Long-Term Actions
Division of Trading and Markets
_______________________________________________________________________
437. 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
Second NPRM Comment Period
Extended 04/14/99 64 FR 18393
Comment Period End 05/08/99
Next Action Undetermined
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
[FR Doc. E9-10282 Filed 05-08-09; 8:45 am]
BILLING CODE 8010-01-S
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.