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Commission Notice:
List of Rules To Be Reviewed Pursuant to the Regulatory Flexibility Act
SECURITIES AND EXCHANGE COMMISSION
17 CFR Chapter II
Release Nos. 33-7618, 34-40828, 35-26958, 39-2371, IC-23621, IA-1777; File No. S7-32-98
List of Rules To Be Reviewed Pursuant to the Regulatory Flexibility Act
AGENCY: Securities and Exchange Commission.
ACTION: Publication of list of rules scheduled for review.
SUMMARY: The Securities and Exchange Commission is today publishing a list of rules to be reviewed pursuant to Section 610 of the Regulatory Flexibility Act. The list is published to provide the public with notice that these rules are scheduled for review by the agency and to invite public comment on them.
DATES: Public comments are due by February 15, 1999.
ADDRESSES: Persons wishing to submit written comments should file three copies with Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, N.W., Room 6184, Stop 6-9, Washington, D.C. 20549. All submissions should refer to File No. S7-32-98, and will be available for public inspection and copying at the Commission's Public Reference Room, Room 1026, at the same address.
FOR FURTHER INFORMATION CONTACT: Anne H. Sullivan, Office of the General Counsel, Securities and Exchange Commission 202-942-0954.
Supplementary Information
The Regulatory Flexibility Act ("RFA") codified at 5 U.S.C. 600-611 requires agencies to review rules which have a significant economic impact upon a substantial number of small entities every ten years. The purpose of the review is "todetermine whether such rules should be continued without change, or should be amended or rescinded ... to minimize any significant economic impact of the rules upon a substantial number of such small entities" (5 U.S.C. 610(a)).
The RFA sets forth specific considerations that must be addressed in the review of each rule:
- the continued need for the rule;
- the nature of complaints or comments received concerning the rule from the public;
- the complexity of the rule;
- the extent to which the rule overlaps, duplicates or conflicts with other Federal rules, and, to the extent feasible, with State and local governmental rules; and
- the length of time since the rule has been evaluated or the degree to which technology, economic conditions, or other factors have changed in the area affected by the rule (5 U.S.C. 610(c)).
The Securities and Exchange Commission, as a matter of policy, reviews all rules which it publishes for notice and comment to assess their continued compliance with the RFA. Pursuant to the RFA, the rules and forms listed below are scheduled for review by staff of the Commission during the next twelve months. The rules are grouped according to which Division or Office of the Commission will review each rule:
Rules To Be Reviewed by the Office of the Chief Accountant
- Title: Article 6 of Regulation S-X (Financial Statements of Registered Investment Companies)
Citation: 17 CFR 210.6
Authority: 15 U.S.C. 77f, 77g, 77s(a), 77aa(25) to (26), 78l, 78m, 78o(d), 78w(a), 79e(b), 79n, 79t(a), 80a-8, and 80a-29
- Title: Article 6A of Regulation S-X (Financial Statements of Employee Stock Purchase, Savings, and Similar Plans)
Citation: 17 CFR 210.6A
Authority: 15 U.S.C. 77f, 77g, 77s(a), 77aa(25) to (26), 78l, 78m, 78o(d), 78w(a), 79e(b), 79n, 79t(a), 80a-8, and 80a-29
Rules To Be Reviewed by the Division of Market Regulation
- Title: Rule 15c2-6 (Sales Practice Requirement for Certain Low-priced Securities) 1
Citation: 17 CFR 240.15g-9
Authority: 15 U.S.C. 78w, 78c, 78j, and 78o
- Title: Rule 3a12-10 (Exemption of Certain Securities Issued by the Resolution Funding Corporation)
Citation: 17 CFR 240.3a12-10
Authority: 15 U.S.C. 78w, 78b, and 78c
- Title: Rule 15a-6 (Exemption of Certain Foreign Brokers or Dealers)
Citation: 17 CFR 240.15a-6
Authority: 15 U.S.C. 78a, 78c, 78j, 78o, and 78g
- Title: Rule 15c2-12 (Municipal Securities Disclosure)
Citation: 17 CFR 240.15c2-12
Authority: 15 U.S.C. 78w, 78b, 78c, 78j, 78o, 78o-4, and 78g
- Title: Rule 19c-5 (Governing the Multiple Listing of Options on National Securities Exchanges)
Citation: 17 CFR 240.19c-5
Authority: 15 U.S.C. 78w, 78f, 78k-1, and 78s
Rules and Forms To Be Reviewed by the Division of Investment Management
The Commission invites public comment on both the list and the rules to be reviewed.
Jonathan G. Katz
Secretary
Dated: December 23, 1998
Footnotes
-[1]- The rule was amended and redesignated as Rule 15g-9 in 1993
http://www.sec.gov/rules/other/33-7618.htm
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