FOR IMMEDIATE RELEASE                                       97-61



 THE SEC SEEKS INPUT FROM PARTICIPANTS IN SECURITIES OFFERINGS
      REGARDING UNIFORMITY OF STATE SECURITIES REGULATION
                    OF SECURITIES OFFERINGS


      Washington,  D.C.,  July 21, 1997 - -  The  Commission  has
begun  distribution  of a survey to securities  issuers,  broker-
dealers  and  securities lawyers regarding state  securities  (or
"blue  sky") regulation of securities offerings.  The purpose  of
the survey is to gather information and opinions for a report  to
Congress  on  the  extent  of uniformity among  state  regulatory
requirements for securities and securities transactions that  are
not  preempted under the National Securities Markets  Improvement
Act  of 1996.  The report to Congress is due by October 11, 1997.
Responses  to the survey should be received by the Commission  by
August 15, 1997. Separately, the Commission also is seeking input
from state securities administrators.

     The survey currently is being distributed in paper format to
certain  issuers,  broker-dealers  and  securities  lawyers.   An
electronic version is also available on the SEC's web page on the
Internet (http://www.sec.gov).


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