Extension of Comment Period for Proposed Rules on Lost Securityholders

SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 232 and 240 [Release No. 34–37949; File No. S7–21–96] RIN 3235–AG99 Lost Securityholders AGENCY: Securities and Exchange Commission. ACTION: Extension of the comment period. SUMMARY: The Securities and Exchange Commission (‘‘Commission’’) is extending from October 28, 1996, until November 27, 1996, the comment period for Securities Exchange Act Release No. 37595 (August 22, 1996), 61 FR 44249 (August 28, 1996). In the release the Commission proposed two rules which are designed to address the problem of ‘‘lost securityholders.’’ DATES: Comments on the release should be submitted on or before November 27, 1996. ADDRESSES: Comments should be submitted in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington DC 20549, and should refer to File No. S7–21–96. 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., NW, Washington DC 20549. Electronically submitted comment letters will be posted on the Commission’s Internet Web site (http://www.sec.gov). FOR FURTHER INFORMATION CONTACT: Jerry W. Carpenter, Assistant Director; Christine Sibille, Senior Counsel; or Michele Bianco, Attorney; at 202/942– 4187, Office of Risk Management and Control, Mail Stop 5–1, Division of Market Regulation, Securities and Exchange Commission, Washington, DC 20549. SUPPLEMENTARY INFORMATION: On August 22, 1996, the Commission proposed two rules designed to address the problem of securityholders for whom a transfer agent or broker-dealer no longer has a current address. Rule 17Ad–17 would require transfer agents to conduct searches in an effort to locate lost securityholders. Rule 17a–24 would allow the Commission to gather data related to lost securityholders and to provide it to information distributors or others. The Commission also is seeking

Federal Register / Vol. 61, No. 225 / Wednesday, November 20, 1996 / Proposed Rules 59047 comments on the extent to which further regulatory or remedial steps are necessary, including whether the Commission should operate a national database for lost securityholders. The Commission requested that comments on the proposed rulemaking be received by October 28, 1996. Commission staff believes that given the novelty of the issues involved, commenters may need an extension of time within which to comment on the proposed rulemaking. In light of the novel nature of the proposed rulemaking 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. 35795 is extended from October 28, 1996, until November 27, 1996. By the Commission. Dated: November 15, 1996. Margaret H. McFarland, Deputy Secretary. [FR Doc. 96–29644 Filed 11–19–96; 8:45 am] BILLING CODE 8010–01–P