[Federal Register Volume 62, Number 18 (Tuesday, January 28, 1997)]
[Rules and Regulations]
[Pages 4104-4105]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-2009]



[[Page 4103]]

_______________________________________________________________________

Part III





Securities and Exchange Commission





_______________________________________________________________________



17 CFR Part 202



Designation of Small Business Compliance Guides, Policy Statement; 
Final Rule

17 CFR Part 230, et al.

Small Business and Small Organization Definitions; Proposed Rule

Federal Register / Vol. 62, No. 18 / Tuesday, January 28, 1997 / 
Rules and Regulations

[[Page 4104]]



SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 202

[Release Nos. 33-7382, 34-38189; IC-22477, IA-1608]


Designation of Small Business Compliance Guides

AGENCY: Securities and Exchange Commission.

ACTION: Policy statement.

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SUMMARY: The Securities and Exchange Commission has designated several 
of its publications that assist small entities in complying with 
Commission rules as small business compliance guides, as required by 
the Small Business Regulatory Enforcement Fairness Act of 1996. The 
Commission has also determined to include in the Code of Federal 
Regulations the list of small business compliance guides and 
information concerning how members of the public may obtain them.

EFFECTIVE DATE: January 28, 1997.

FOR FURTHER INFORMATION CONTACT: Anne H. Sullivan at (202-942-0954) or 
Penelope W. Saltzman at (202-942-0915), Office of the General Counsel.

SUPPLEMENTARY INFORMATION:

Designation of Compliance Guides in the Code of Federal Regulations

    On March 29, 1996, Congress adopted the Small Business Regulatory 
Fairness Act, Pub. L. 104-121, 110 Stat. 857 (1996), which directs 
agencies to make available to small entities as defined by the 
Regulatory Flexibility Act, 5 U.S.C. 601 et seq. ``small entity 
compliance guides'' (``compliance guides'') for each rule or group of 
rules for which the agencies prepare a final regulatory flexibility 
analysis under the Regulatory Flexibility Act. The Commission is adding 
a new section 202.8 to the Code of Federal Regulations, which will list 
the Commission's compliance guides and how to obtain them. The 
Commission will review all existing small entity compliance guides 
annually to determine their adequacy and to revise them, as 
appropriate.
    The Commission has designated the following publications as 
compliance guides:

Q & A: Small Business and the SEC
The Work of the SEC
Broker-Dealer Registration Package
Investment Adviser Registration Package
Investment Company Registration Package
Examination Information for Broker-Dealers, Transfer Agents, Investment 
Advisers and Investment Companies

Publications and Information on Request

    The Commission makes these compliance guides as well as other 
information available to the public through the following sources, some 
of which are specifically designed for small businesses:
    The Commission makes available free copies of ``Q & A: Small 
Business and the SEC,'' ``The Work of the SEC,'' the registration 
packages, and the Examination Information in its Publications Room at 
the Commission's headquarters at 450 Fifth Street, N.W. Washington, DC 
20549 (202-942-8090) or at the regional offices. Members of the public, 
including small businesses, also may obtain free copies of these 
publications by calling the Commission's toll-free telephone number 
(800-SEC-0330), the Office of Small Business Policy at (202) 942-2950, 
the Publications Room (202) 942-4040, or the Office of Investor 
Education and Assistance (202) 942-7040.
    The World Wide Web. The Commission's World Wide Web site provides 
information on the SEC, its mission, and its initiatives. The Web site 
includes a page that contains information of special interest to small 
businesses, in particular, ``Q & A: Small Business and the SEC,'' ``The 
Work of the SEC,'' and a list of pending and completed SEC rulemakings 
of particular relevance to small businesses. Members of the public can 
also communicate with the Commission through the Commission's Internet 
mailboxes. These include, <a href="/cdn-cgi/l/email-protection#fa9a9a929f968aba899f99d49d958c">``<span class="__cf_email__" data-cfemail="533b363f23132036307d343c25">[email protected]</span></a>'' for requests made to the 
Office of Investor Education and Assistance, <a href="/cdn-cgi/l/email-protection#a7c7c7c2c9c1c8d5c4c2cac2c9d3e7d4c2c489c0c8d1">``<span class="__cf_email__" data-cfemail="ee8b8088819c8d8b838b809aae9d8b8dc0898198">[email protected]</span></a>'' 
for complaints and reports to the Division of Enforcement, ``<a href="/cdn-cgi/l/email-protection#94f1b99ee4e6fbe7e4f1f7e0e1e7d4e7f1f7baf3fbe2">e-
<span class="__cf_email__" data-cfemail="a5d5d7cad6d5c0c6d1d0d6e5d6c0c68bc2cad3">[email protected]</span></a>'' for comments about electronic prospectuses and 
Internet issues, and <a href="/cdn-cgi/l/email-protection#2848485a5d444d054b4745454d465c5b685b4d4b064f475e">``<span class="__cf_email__" data-cfemail="93e1e6fff6bef0fcfefef6fde7e0d3e0f6f0bdf4fce5">[email protected]</span></a>'' for public comment on 
current proposed rules. In addition, the Commission homepage provides 
for direct query capability for information posted on the Web site and 
in the EDGAR filings database.
    The Commission provides the following additional sources for other 
information and informal guidance:
    Filings and Releases On Request. Pursuant to Commission rule, 17 
CFR 200.80, the following Commission records (excluding nonpublic items 
specified in the rule) are available for public inspection or copying:
    <bullet> Commission opinions;
    <bullet> Statements of policy adopted by the Commission;
    <bullet> Certain staff manuals and instructions;
    <bullet> Indices of opinions and statements of policy;
    <bullet> Required filings with the Commission which are not 
confidential;
    <bullet> Requests or petitions for a change in Commission rules, a 
no-action or interpretive letter, or an exemption from Commission 
regulation;
    <bullet> Transcripts of public proceedings; and
    <bullet> Commission reports to Congress.
    Copies of Commission releases and disclosure documents filed with 
the Commission are available through the Commission's Public Reference 
Room (202-942-8090) for a copying charge of $.24 per page.
    Special Ombudsman. The Commission has appointed a Special Ombudsman 
to serve as the liaison and agency spokesman for the concerns of small 
business. In addition to receiving information from small businesses 
concerning the impact of Commission rules and regulations, the Special 
Ombudsman will help small businesses in obtaining Commission 
publications and other information regarding the Commission's 
regulations. The Special Ombudsman can be reached at (202) 942-2950. In 
addition, the Office of Municipal Securities has designated a Municipal 
Securities Ombudsman for matters affecting municipal securities 
issuers, many of which qualify as small governments under the 
Regulatory Flexibility Act. The telephone number for the Municipal 
Securities Ombudsman is (202) 942-7300.
    Small Business Liaisons. In addition to the Special Ombudsman for 
small business, small business liaisons are assigned in each of the 
Commission's regional offices for small businesses to contact for 
assistance.
    Public Inquiry Numbers. The Divisions of Corporation Finance, 
Investment Management, and Market Regulation maintain public inquiry 
numbers at which members of the public may obtain informal guidance 
regarding rules and statutory provisions administered by those 
Divisions. Those telephone numbers are:

Division of Corporation Finance: (202) 942-2900
Division of Investment Management: (202) 942-0659
Division of Market Regulation: (202) 942-0069

Regulatory Requirements

    The designation of the Commission's compliance guides is not an 
agency rule and, therefore, the provisions of the Administrative 
Procedure Act (``APA'') regarding notice of proposed rulemaking, 
opportunities for public

[[Page 4105]]

participation, and prior publication <SUP>1 are not applicable. 
Similarly, the provisions of the Regulatory Flexibility Act, <SUP>2 
which apply only when notice and comment are required by the APA or 
another statute, are not applicable.
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    \1\ 5 U.S.C. 553.
    \2\ 5 U.S.C. 601-602.
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List of Subjects in 17 CFR Part 202

    Administrative practice and procedure.

Text of Amendment

    In accordance with the foregoing, 17 CFR, Chapter II, is amended as 
follows:

PART 202--INFORMAL AND OTHER PROCEDURES

    1. The authority citation for Part 202 continues to read in part as 
follows:
    Authority: 15 U.S.C. 77s, 77t, 78d-1, 78u, 78w, 7811(d), 79r, 
79t, 77sss, 77uuu, 80a-37, 80a-41, 80b-9, and 80b-11, unless 
otherwise noted.
* * * * *
    2. Section 202.8 is added to read as follows:


Sec. 202.8  Small entity compliance guides.

    The following small entity compliance guides are available to the 
public from the Commission's Publications Room and regional offices:
    (a) Q & A: Small Business and the SEC.\1\
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    \1\ These items are also available on the Securities and 
Exchange Commission Web site on the Internet, http://www.sec.gov.
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    (b) The Work of the SEC.\1\
    (c) Broker-Dealer Registration Package.
    (d) Investment Adviser Registration Package.
    (e) Investment Company Registration Package.
    (f) Examination Information for Broker-Dealers, Transfer Agents, 
Investment Advisers and Investment Companies.

    By the Commission.

    Dated: January 22, 1997.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-2009 Filed 1-27-97; 8:45 am]
BILLING CODE 8010-01-P


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