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

Federal Register / Vol. 62, No. 12 / Friday, January 17, 1997 / Proposed Rules 2633 1 17 CFR 240.17a–3. 2 17 CFR 240.17a–4. SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 240 [Release No. 34–38159; File No. S7–27–96] RIN 3235–AH04 Books and Records Requirements for Brokers and Dealers Under the Securities Exchange Act of 1934 AGENCY: Securities and Exchange Commission. ACTION: Proposed rule; extension of the comment period. SUMMARY: The Securities and Exchange Commission (‘‘Commission’’) is extending from December 27, 1996, until March 31, 1997, the comment period for Securities Exchange Act Release No. 37850 (October 22, 1996), 61 FR 55593 (October 28, 1996). In the release the Commission proposed amendments to the broker-dealer books and records rules. DATES: Comments on the release should be submitted on or before March 31, 1997. ADDRESSES: Comments should be submitted in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, N.W., Washington D.C. 20549, and should refer to File No. S7–27–96. Comments also may be submitted electronically at the following E-mail address: rule￾comments@sec.gov. The file number should be included on the subject line if E-mail is used. Comment letters will be available for public inspection and copying at the Commission’s public reference room, 450 Fifth St., 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 at (202) 942–0131; Peter R. Geraghty, Assistant Director at (202) 942–0177; Matthew G. McGuire, Attorney at (202) 942–7103; or Michael E. Greene, Attorney at (202) 942–4169; Office of Risk Management and Control, Division of Market Regulation, Mail Stop 5–1, Securities and Exchange Commission, Washington, D.C. 20549. SUPPLEMENTARY INFORMATION: On October 22, 1996, the Commission proposed amendments to Rules 17a–3 1 and 17a–4,2, the broker-dealer books and records rules. The proposed amendments clarify, modify, and expand recordkeeping requirements with respect to purchase and sale documents, customer records, associated person records, customer complaints, and certain other matters. In addition, the proposed amendments specify certain types of books and records that broker-dealers must make available in their local offices. The Commission is proposing amendments to the books and records rules in response to certain concerns raised by members of the North American Securities Administrators Association. The proposed amendments are intended to obligate broker-dealers to make and retain certain additional records that would be available to state regulators during examination and enforcement proceedings. The Commission originally requested that comments on the proposed rulemaking be received by December 27, 1996. Based on requests from prospective commenters, including NASD Regulation, Inc. and the New York Stock Exchange, and the Commission’s desire to consider the views of all interested persons on the subject, the Commission believes that an extension of the comment period is appropriate. Therefore, the comment period for responding to Securities Exchange Act Release No. 37850 is extended from December 27, 1996, until March 31, 1997. Dated: January 13, 1997. By the Commission. Margaret H. McFarland, Deputy Secretary. [FR Doc. 97–1221 Filed 1–16–97; 8:45 am] BILLING CODE 8010–01–P