39086 Federal Register / Vol. 65, No. 122 / Friday, June 23, 2000 / Rules and Regulations

1We originally adopted the Filer Manual on April

1, 1993, with an effective date of April 26, 1993.

Release No. 33–6986 (Apr. 1, 1993) [58 FR 18638].

We implemented the most recent update to the Filer

Manual on May 16, 2000. See Release No. 33–7858

(May 16, 2000) [65 FR 34079]. 2EDGAR Release 7.0 includes features that will

be available for the first time to filers using a new,

modernized version of EDGARLink software, the

filer assistance software we provide filers filing on

the EDGAR system. Among these features are the

ability to include expanded hyperlinks and

graphics in filings, and to make filings over the

Internet.

3We will be maintaining the Legacy EDGAR

system at least until November 1, 2000. We are

doing this to provide filers abundant time to

transition to the new modernized system.

4See Rule 301 of Regulation S–T (17 CFR

232.301).

5See Release Nos. 33–6977 (Feb. 23, 1993) [58 FR

14628], IC–19284 (Feb. 23, 1993) [58 FR 14848], 35–

25746 (Feb. 23, 1993) [58 FR 14999], and 33–6980

(Feb. 23, 1993) [58 FR 15009] in which we

comprehensively discuss the rules we adopted to

govern mandated electronic filing. See also Release

No. 33–7122 (Dec. 19, 1994) [59 FR 67752], in

which we made the EDGAR rules final and

applicable to all domestic registrants; Release No.

33–7427 (July 1, 1997) [62 FR 36450], in which we

adopted minor amendments to the EDGAR rules;

Release No. 33–7472 (Oct. 24, 1997) [62 FR 58647],

in which we announced that, as of January 1, 1998,

we would not accept in paper filings that we

require filers to submit electronically; Release No.

34–40935 (Jan. 12, 1999) [64 FR 2843], in which we

made mandatory the electronic filing of Form 13F;

Release No. 33–7684 (May 17, 1999) [64 FR 27888],

in which we adopted amendments to implement

the first stage of EDGAR modernization; and

Release No. 33–7855 (April 24, 2000) [65 FR 23937],

in which we implemented EDGAR Release 7.0.

6 5 U.S.C. 553(b).

7 5 U.S.C. 601–612.

8 5 U.S.C. 553(d)(3).

That airspace extending upward from 700

feet above the surface within a 6-mile radius

of the point in space (Lat. 34°49′47′′N, long.

86°01′54′′W) serving Jackson County

Hospital.

* * * * *

Issued in College Park, Georgia, on June 12,

2000.

John Thompson,

Acting Manager, Air Traffic Division,

Southern Region.

[FR Doc. 00–15949 Filed 6–22–00; 8:45 am]

BILLING CODE 4910–13–M

SECURITIES AND EXCHANGE

COMMISSION

17 CFR Part 232

[Release Nos. 33–7867; 34–42942; 35–

27185; 39–2386; IC–24498]

RIN 3235–AG96

Adoption of Updated EDGAR Filer

Manual

AGENCY: Securities and Exchange

Commission.

ACTION: Final rule.

SUMMARY: The Commission is adopting

revisions to the EDGAR Filer Manual

and is providing for their incorporation

by reference into the Code of Federal

Regulations. On May 16, 2000, we

adopted a new Volume II, which

described the Modernized EDGAR

system implemented by EDGAR Release

7.0. Today, we are adopting conforming

changes to the parts of the EDGAR

Manual that concern the old (Legacy)

EDGAR system (Volume I) and the filing

of Form N–SAR documents (Volume

III).

EFFECTIVE DATE: June 23, 2000. The

incorporation by reference of the

EDGAR Filer Manual is approved by the

Director of the Federal Register as of

June 23, 2000.

FOR FURTHER INFORMATION CONTACT: In

the Office of Information Technology,

Richard Heroux at (202) 942–8800; in

the Division of Investment Management,

for questions concerning investment

company filings, Shaswat K. Das,

Attorney, at (202) 942–0978, and for

questions concerning Volume III (N–

SAR Supplement), Carolyn A. Miller,

Senior Financial Analyst, at (202) 942–

0513; and for questions concerning

Corporation Finance company filings,

Herbert Scholl, Office Chief, EDGAR

and Information Analysis, Division of

Corporation Finance, at (202) 942–2930.

SUPPLEMENTARY INFORMATION: The

EDGAR Filer Manual (‘‘Filer Manual’’)

describes the technical formatting

requirements for the preparation and

submission of electronic filings through

the Electronic Data Gathering, Analysis,

and Retrieval (‘‘EDGAR’’) system.1 On

May 16, 2000, we adopted a new

Volume II of the Filer Manual,

containing the technical specifications

for using the new modernized EDGAR

system implemented by EDGAR Release

7.0.2 Today we are updating the

provisions of the Filer Manual

governing the Legacy EDGAR system,

and the N–SAR Supplement, to reflect

the limited changes being made to these

systems with the implementation of

EDGAR Release 7.0. The Filer Manual

provisions governing the Legacy EDGAR

system are found in Volume I.3 The

provisions governing N–SAR filings are

found in Volume III.

Filers must comply with the

applicable provisions of the Filer

Manual in order to assure the timely

acceptance and processing of filings

made in electronic format.4 Filers

should consult the Filer Manual in

conjunction with our rules governing

mandated electronic filing when

preparing documents for electronic

submission.5

The principal revisions to the Legacy

EDGAR provisions reflect these changes

in EDGAR Release 7.0: an update to the

use of magnetic tape cartridges and the

removal of 9 track tapes when support

of the Legacy EDGAR system ends; the

elimination of diskette filing effective

July 10, 2000; and the need for filers

using the Legacy EDGAR software

system to update company information,

change passwords or change CIK

confirmation codes by either entering

the new data using the new EDGAR

website available on the Internet or

submitting an amended Form ID. Filers

using the old version of EDGARLink

will not be able to take advantage of

EDGAR’s new graphic and hypertext

linking features.

The principal revision to the N–SAR

provisions reflects the capability to

install and run the N–SAR application

under a Windows operating system

environment. While filers will be able to

submit their Forms N–SAR using the

modernized EDGARLink, we do not

encourage its use at this point, since

certain header-building assistance and

error checking is not yet available to

filers using the modernized

EDGARLink.

We are also amending Rule 301 of

Regulation S–T to provide for the

incorporation by reference into the Code

of Federal Regulations of the updated

Volumes I and III of the Filer Manual.

This incorporation by reference was

approved by the Director of the Federal

Register in accordance with 5 U.S.C.

552(a) and 1 CFR Part 51.

You may obtain paper copies of the

updated Filer Manual at the following

address: Public Reference Room, U.S.

Securities and Exchange Commission,

450 Fifth Street, NW., Washington DC

20549–0102. We will post electronic

format copies on the SEC’s Web Site.

The SEC’s Web Site address for the Filer

Manual is http://www.sec.gov/asec/ofis/

filerman.htm. You may also obtain

copies from Disclosure Incorporated, the

paper and microfiche contractor for the

Commission, at (800) 638–8241.

Since the Filer Manual relates solely

to agency procedures or practice,

publication for notice and comment is

not required under the Administrative

Procedure Act (APA).6 It follows that

the requirements of the Regulatory

Flexibility Act 7 do not apply.

The effective date for the updated

Filer Manual and the rule amendments

is June 23, 2000. In accordance with the

APA,8 we find that there is good cause

to establish an effective date less than

30 days after publication of these rules.

The EDGAR system upgrade to Release

7.0 took effect on May 30, 2000. The

Commission believes that it is necessary

Federal Register / Vol. 65, No. 122 / Friday, June 23, 2000 / Rules and Regulations 39087

9 15 U.S.C. 77f, 77g, 77h, 77j and 77s(a).

10 15 U.S.C. 78c, 78l, 78m, 78n, 78o, 78w and 78ll.

11 15 U.S.C. 79t.

12 15 U.S.C. 77sss.

13 15 U.S.C. 80a–8, 80a–29, 80a–30 and 80a–37.

to coordinate the effectiveness of the

updated Filer Manual with the

scheduled system upgrade in order to

minimize confusion to EDGAR filers.

Statutory Basis

We are adopting the amendments to

Regulation S–T under Sections 6, 7, 8,

10, and 19(a) of the Securities Act,9

Sections 3, 12, 13, 14, 15, 23, and 35A

of the Securities Exchange Act of

1934,10 Section 20 of the Public Utility

Holding Company Act of 1935,11

Section 319 of the Trust Indenture Act

of 1939,12 and Sections 8, 30, 31, and 38

of the Investment Company Act.13

List of Subjects in 17 CFR Part 232

Incorporation by reference, Reporting

and recordkeeping requirements,

Securities.

Text of the Amendment

In accordance with the foregoing,

Title 17, Chapter II of the Code of

Federal Regulations is amended as

follows:

PART 232—REGULATION S–T—

GENERAL RULES AND REGULATIONS

FOR ELECTRONIC FILINGS

1. The authority citation for Part 232

continues to read as follows:

Authority: 15 U.S.C. 77f, 77g, 77h, 77j,

77s(a), 77sss(a), 78c(b), 78l, 78m, 78n, 78o(d),

78w(a), 78ll(d), 79t(a), 80a–8, 80a–29, 80a–30

and 80a–37.

2. Section 232.301 is revised to read

as follows:

§ 232.301 EDGAR Filer Manual.

Filers must prepare electronic filings

in the manner prescribed by the EDGAR

Filer Manual, promulgated by the

Commission, which sets out the

technical formatting requirements for

electronic submissions. For the period

during which Legacy EDGAR will be

available, prior to the complete

transition to the use of Modernized

EDGAR, the EDGAR Filer Manual will

consist of three parts. For filers using

Legacy EDGAR, the requirements are set

forth in EDGAR Filer Manual (Release

7.0), Volume I—Legacy EDGARLink. For

filers using modernized EDGARLink,

the requirements are set forth in EDGAR

Filer Manual (Release 7.0), Volume II—

Modernized EDGARLink. Additional

provisions applicable to Form N–SAR

filers are set forth in EDGAR Filer

Manual (Release 7.0), Volume III—N–

SAR Supplement. All of these

provisions have been incorporated by

reference into the Code of Federal

Regulations, which action was approved

by the Director of the Federal Register

in accordance with 5 U.S.C. 552(a) and

1 CFR Part 51. You must comply with

these requirements in order for

documents to be timely received and

accepted. You can obtain paper copies

of the EDGAR Filer Manual from the

following address: Public Reference

Room, U.S. Securities and Exchange

Commission, 450 5th Street, NW.,

Washington, DC 20549–0102 or by

calling Disclosure Incorporated at (800)

638–8241. Electronic format copies are

available on the SEC’s Web Site. The

SEC’s Web Site address for the Manual

is http://www.sec.gov/asec/ofis/

filerman.htm. Information on becoming

an EDGAR e-mail/electronic bulletin

board subscriber is available by

contacting TRW/UUNET at (703) 345–

8900 or at www.trw-edgar.com.

Dated: June 14, 2000.

By the Commission.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–15489 Filed 6–22–00; 8:45 am]

BILLING CODE 8010–01–U

DEPARTMENT OF THE TREASURY

Customs Service

19 CFR Part 171

[T.D. 00–41]

RIN 1515–AC08

Guidelines for the Imposition and

Mitigation of Penalties for Violations of

19 U.S.C. 1592

AGENCY: U.S. Customs Service,

Department of the Treasury.

ACTION: Final rule.

SUMMARY: This document revises

Appendix B to Part 171 of the Customs

Regulations, which sets forth the

guidelines for remitting and mitigating

penalties relating to violations of section

592 of the Tariff Act of 1930, as

amended. A violation of section 592

involves the entry or introduction or

attempted entry or introduction of

merchandise into the commerce of the

United States by fraud, gross negligence,

or negligence. Many of the changes to

Appendix B reflect the Customs

Modernization Act and its themes of

‘‘informed compliance’’ and ‘‘shared

responsibility.’’

EFFECTIVE DATE: July 24, 2000.

FOR FURTHER INFORMATION CONTACT:

Charles D. Ressin, Penalties Branch

(202) 927–2344.

SUPPLEMENTARY INFORMATION:

Background

On December 8, 1993, the President

signed the North American Free Trade

Agreement Implementation Act (Public

Law 103–182). The Customs

Modernization portion of this Act (Title

VI), popularly known as the Customs

Modernization Act or ‘‘the Mod Act’’,

became effective when it was signed.

The Mod Act emphasizes the themes of

‘‘shared responsibility’’ and ‘‘informed

compliance’’ for Customs and the

public.

Consistent with the Mod Act,

Customs has initiated a thorough

examination and review of its

procedures and processes relating to

importer compliance with Customs

laws, regulations, and policies. In this

review, the agency has considered a

number of innovative approaches to

improving the service it provides the

importing public as well as new

approaches to encourage compliance

and address incidents of noncompliance.

With regard to compliance, Customs

is dedicated to educating its personnel

to improve agency selection of

appropriate remedies to address

incidents of non-compliance. In keeping

with the Mod Act theme of informed

compliance, Customs is also attempting

to educate the importing public about

its requirements, particularly in areas

involving complex import transactions.

A more informed public promotes an

overall greater level of compliance than

the threat of an occasional and often

ineffective penalty.

In Appendix B to Part 171 of the

Customs Regulations (19 CFR part 171)

Customs has guidelines for remitting

and mitigating penalties relating to

violations of section 592 of the Tariff

Act of 1930, as amended (19 U.S.C.

1592) (hereinafter referred to as section

592). A violation of section 592 involves

the entry or introduction or attempted

entry or introduction of merchandise

into the United States by fraud, gross

negligence or negligence. In accordance

with the ‘‘shared responsibility’’ and

‘‘informed compliance’’ approach of the

Mod Act, Customs proposed a revision

of these guidelines in a notice of

proposed rulemaking published in the

Federal Register (63 FR 57628) on

October 28, 1998. This proposed

revision consisted of a reorganization of

the content of the current guidelines

into a new format intended to more

clearly identify important provisions

which are contained in the present text.