Federal Register / Vol. 63, No. 15 / Friday, January 23, 1998 / Rules and Regulations 3459

Order 12866. It has been determined

further that this action involves an

emergency regulation under DOT

Regulatory Policies and Procedures (44

FR 11034, February 26, 1979). If it is

determined that this emergency

regulation otherwise would be

significant under DOT Regulatory

Policies and Procedures, a final

regulatory evaluation will be prepared

and placed in the Rules Docket. A copy

of it, if filed, may be obtained from the

Rules Docket at the location provided

under the caption ADDRESSES.

List of Subjects in 14 CFR Part 39

Air transportation, Aircraft, Aviation

safety, Incorporation by reference,

Safety.

Adoption of the Amendment

Accordingly, pursuant to the

authority delegated to me by the

Administrator, the Federal Aviation

Administration amends part 39 of the

Federal Aviation Regulations (14 CFR

part 39) as follows:

PART 39—AIRWORTHINESS

DIRECTIVES

1. The authority citation for part 39

continues to read as follows:

Authority: 49 U.S.C. 106(g), 40113, 44701.

§ 39.13 [Amended]

2. Section 39.13 is amended by

adding the following new airworthiness

directive:

98–02–06 Boeing: Amendment 39–10288.

Docket 97–NM–335–AD.

Applicability: Model 777–200 series

airplanes, line positions 1 through 40

inclusive, certificated in any category.

Note 1: This AD applies to each airplane

identified in the preceding applicability

provision, regardless of whether it has been

modified, altered, or repaired in the area

subject to the requirements of this AD. For

airplanes that have been modified, altered, or

repaired so that the performance of the

requirements of this AD is affected, the

owner/operator must request approval for an

alternative method of compliance in

accordance with paragraph (b) of this AD.

The request should include an assessment of

the effect of the modification, alteration, or

repair on the unsafe condition addressed by

this AD; and, if the unsafe condition has not

been eliminated, the request should include

specific proposed actions to address it.

Compliance: Required as indicated, unless

accomplished previously.

To prevent failure of the lock link

mechanism to lock the main landing gear

(MLG) in the down position, and consequent

collapse of the MLG during ground

operation, accomplish the following:

(a) Within 30 days after the effective date

of this AD, perform a visual inspection to

determine the presence and condition of the

cotter pin and nut of the lock link

mechanism on the side struts and drag struts

on the left- and right-hand MLG, in

accordance with Boeing Alert Service

Bulletin 777–32A0015, dated September 4,

1997. If any discrepancy is found, prior to

further flight, correct the discrepancy in

accordance with the service bulletin. Repeat

the inspection therafter at intervals not to

exceed 75 days or 400 flight cycles,

whichever occurs first.

(b) An alternative method of compliance or

adjustment of the compliance time that

provides an acceptable level of safety may be

used if approved by the Manager, Seattle

Aircraft Certification Office (ACO), FAA,

Transport Airplane Directorate. Operators

shall submit their requests through an

appropriate FAA Principal Maintenance

Inspector, who may add comments and then

send it to the Manager, Seattle ACO.

Note 2: Information concerning the

existence of approved alternative methods of

compliance with this AD, if any, may be

obtained from the Seattle ACO.

(c) Special flight permits may be issued in

accordance with sections 21.197 and 21.199

of the Federal Aviation Regulations (14 CFR

21.197 and 21.199) to operate the airplane to

a location where the requirements of this AD

can be accomplished.

(d) The actions shall be done in accordance

with Boeing Alert Service Bulletin 777–

32A0015, dated September 4, 1997. 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. Copies may be obtained from Boeing

Commercial Airplane Group, P.O. Box 3707,

Seattle, Washington 98124–2207. Copies may

be inspected at the FAA, Transport Airplane

Directorate, 1601 Lind Avenue, SW., Renton,

Washington; or at the Office of the Federal

Register, 800 North Capitol Street, NW., suite

700, Washington, DC.

(e) This amendment becomes effective on

February 9, 1998.

Issued in Renton, Washington, on January

15, 1998.

Darrell M. Pederson,

Acting Manager, Transport Airplane

Directorate, Aircraft Certification Service.

[FR Doc. 98–1543 Filed 1–22–98; 8:45 am]

BILLING CODE 4910–13–P

DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

15 CFR Part 806

[Docket No. 970918231–7231–01]

RIN 0691–AA29

Direct Investment Surveys: BE–12,

Benchmark Survey of Foreign Direct

Investment in the United States—1997

AGENCY: Bureau of Economic Analysis,

Commerce.

ACTION: Final rule.

SUMMARY: These final rules revise 15

CFR 806.17 to set forth reporting

requirements for the BE–12, Benchmark

Survey of Foreign Direct Investment in

the United States—1997, and to delete

the rules now in 15 CFR 806.17, which

were for the last benchmark survey

covering 1992.

The BE–12 benchmark survey is

conducted by the Bureau of Economic

Analysis (BEA), U.S. Department of

Commerce, under Section 3103(b) of the

International Investment and Trade in

Services Survey Act, which requires

that a benchmark survey of foreign

direct investment in the United States

be conducted every five years. The last

benchmark survey was conducted for

1992. The benchmark survey will obtain

universe data on the financial and

operating characteristics of, and on

positions and transactions between, U.S.

affiliates and their foreign parents. The

data from the quinquennial survey will

provide benchmarks for deriving current

universe estimates of foreign direct

investment from sample data collected

in other BEA surveys in nonbenchmark

years. The data are needed to measure

the economic significance of foreign

direct investment in the United States,

measure changes in such investment,

assess its impact on the U.S. economy,

and based upon this assessment, make

informed policy decisions regarding

foreign direct investment in the United

States. They are also required for

compiling the U.S. international

transactions, input-output, and national

income and product accounts, and for

preparing estimates of the international

investment position of the United

States.

Key changes from the previous

benchmark survey include reducing

respondent burden, particularly for

small companies, by: increasing the

exemption level for reporting on the

survey to $3 million (measured by the

company’s total assets, sales, or net

income) from $1 million in the 1992

survey; increasing the exemption level

at which reporting on the long form

version of the survey is required from

$50 million to $100 million; and

requiring reporting companies with

assets, sales, or net income between $3

million and $30 million to report only

selected data items on the short form

version. In addition, the survey bases

industry coding of reporting companies

on the new North American Industry

Classification System (NAICS) in place

of the previous system which was based

on the U.S. Standard Industrial

Classification system; it collects new

information on affiliated services

transactions by type of service; and it

modifies the detail collected on the
3460 Federal Register / Vol. 63, No. 15 / Friday, January 23, 1998 / Rules and Regulations

composition of external financing of the

reporting enterprise, on exports and

imports of goods by product, and on the

operations of foreign-owned businesses

in individual States.

Forms for the 1997 benchmark survey

are scheduled to be mailed out at the

end of February 1998. Completed

reports will be due to BEA on May 31,

1998.

EFFECTIVE DATE: These rules will be

effective February 23, 1998.

FOR FURTHER INFORMATION CONTACT:

R. David Belli, Chief, International

Investment Division (BE–50), Bureau of

Economic Analysis, U.S. Department of

Commerce, Washington, DC 20230;

phone (202) 606–9800.

SUPPLEMENTARY INFORMATION: In the

October 8, 1997 Federal Register,

Volume 62, No 195, pages 52515–52518,

the Bureau of Economic Analysis

published a notice of proposed

rulemaking to revise 15 CFR 806.17 to

set forth reporting requirements for the

BE–12, Benchmark Survey of Foreign

Direct Investment in the United States—

1997. No comments on the proposed

rule were received. Thus, this final rule

is the same as the proposed rule.

The benchmark survey is to be

conducted by the Bureau of Economic

Analysis, U.S. Department of

Commerce, under the International

Investment and Trade in Services

Survey Act (Pub. L. 94–472, 90 Stat.

2059, 22 U.S.C. 3101–3108, as amended

by P.L. 98–573 and P.L. 101–533),

hereinafter, ‘‘the Act.’’ Section 3103(b)

of the Act, as amended, requires that

‘‘With respect to foreign direct

investment in the United States, the

President shall conduct a benchmark

survey covering year 1980, a benchmark

survey covering year 1987, and

benchmark surveys covering every fifth

year thereafter * * *.’’ In conducting

surveys pursuant to this subsection, the

President shall, among other things and

to the extent he determines necessary

and feasible—

(1) Identify the location, nature, and

magnitude of, and changes in the total

investment by any parent in each of its

affiliates and the financial transactions

between any parent and each of its

affiliates;

(2) Obtain (A) information on the

balance sheet of parents and affiliates

and related financial data, (B) income

statements, including the gross sales by

primary line of business (with as much

product line detail as necessary and

feasible) of parents and affiliates in each

country in which they have significant

operations, and (C) related information

regarding trade, including trade in both

goods and services, between a parent

and each of its affiliates and between

each parent or affiliate and any other

person;

(3) Collect employment data showing

both the number of United States and

foreign employees of each parent and

affiliate and the levels of compensation,

by country, industry, and skill level;

(4) Obtain information on tax

payments by parents and affiliates by

country; and

(5) Determine, by industry and

country, the total dollar amount of

research and development expenditures

by each parent and affiliate, payments

or other compensation for the transfer of

technology between parents and their

affiliates, and payments or other

compensation received by parents or

affiliates from the transfer of technology

to other persons.

Reporting in the survey is mandatory.

The responsibility for conducting

benchmark surveys of foreign direct

investment in the United States has

been delegated to the Secretary of

Commerce, who has redelegated it to

BEA.

The benchmark surveys are BEA’s

censuses, intended to cover the universe

of foreign direct investment in the

United States in value terms. Foreign

direct investment in the United States is

defined as the ownership or control,

directly or indirectly, by one foreign

person of 10 percent or more of the

voting securities of an incorporated U.S.

business enterprise or an equivalent

interest in an unincorporated U.S.

business enterprise, including a branch.

The purpose of the benchmark survey

is to obtain data on the amount, types,

and financial and operating

characteristics of foreign direct

investment in the United States.

The data from the survey will be used

to measure the economic significance of

such investment and to analyze its

effects on the U.S. economy. They will

also be used in formulating, and

assessing the impact of, U.S. policy on

foreign direct investment.

They will provide benchmarks for

deriving current universe estimates of

direct investment from sample data

collected in other BEA surveys. In

particular, they will serve as

benchmarks for the quarterly direct

investment estimates included in the

U.S. international transactions, inputoutput, and natural income and product

accounts, and for preparing estimates of

the international investment position of

the United States.

The benchmark surveys are also the

most comprehensive of BEA’s surveys

in terms of subject matter in order that

they obtain the detailed information on

foreign direct investment needed for

policy purposes. As specified in the Act,

policy areas of particular interest that

should be addressed by the survey

include, among other things, trade in

both goods and services, employment

and employee compensation, taxes, and

technology.

The survey consists of an instruction

booklet, a claim for not filing the BE–

12, and the following report forms:

1. Form BE–12(LF) (Long Form) for

reporting by nonbank U.S. affiliates

with assets, sales, or net income of more

than $100 million;

2. Form BE–12(SF) (Short Form) for

reporting by nonbank U.S. affiliates

with assets, sales, or net income of more

than $3 million, but not more than $100

million;

3. Form BE–12 Bank for reporting by

U.S. affiliates that are banks with assets,

sales, or net income of more than $3

million.

Although the survey is intended to

cover the universe of foreign direct

investment in the United States, in

order to minimize the reporting burden,

U.S. affiliates with assets, sales, and net

income each equal to or less than $3

million are exempt from reporting on

Forms BE–12(LF), BE–12(SF), and BE–

12 Bank, but are required to file, on

Form BE–12(X), a claim for exemption

from filing in the benchmark survey.

Key changes from the previous

benchmark survey include reducing

respondent burden, particularly for

small companies, by: increasing the

exemption level for reporting on the

survey to $3 million (measured by the

company’s total assets, sales, or net

income) from $1 million in the 1992

survey; increasing the exemption level

at which reporting on Form BE–12(LF)

(Long Form) is required from $50

million to $100 million; and requiring

reporting companies with assets, sales,

or net income between $3 million and

$30 million to report only selected data

items on Form BE–12(SF) (Short Form).

In addition, industry coding of reporting

companies will be based on the new

North American Industry Classification

System (NAICS) in place of the system

which is based on the U.S. Standard

Industrial Classification system; new

information will be collected on

affiliated services transactions by type

of service; and the detail collected on

the composition of external financing of

the reporting enterprise will be

modified, along with exports and

imports of goods by product, and the

operations of foreign-owned businesses

in individual States.

Executive Order 12612

These rules do not contain policies

with Federalism implications sufficient
Federal Register / Vol. 63, No. 15 / Friday, January 23, 1998 / Rules and Regulations 3461

to warrant preparation of a Federalism

assessment under E.O. 12612.

Executive Order 12866

These rules have been determined to

be not significant for purposes of E.O.

12866.

Paperwork Reduction Act

The collection of information required

in these final rules has been approved

by OMB (OMB No. 0608–0042).

Notwithstanding any other provisions

of the law, no person is required to

respond to, nor shall any person be

subject to a penalty for failure to comply

with, a collection-of-information subject

to the requirements of the Paperwork

Reduction Act unless that collection

displays a currently valid Office of

Management and Budget Control

Number; such a Control Number (0608–

0042) has been displayed.

Public reporting burden for this

collection of information is estimated to

vary from 1 to 715 hours per response,

with an average of 22 hours per

response, including time for reviewing

instructions, searching existing data

sources, gathering and maintaining the

data needed, and completing and

reviewing the collection of information.

Send comments regarding this burden

estimate or any other aspect of this

collection of information, including

suggestions for reducing this burden to:

Director, Bureau of Economic Analysis

(BE–1), U.S. Department of Commerce,

Washington, DC 20230; and to the

Office of Management and Budget,

O.I.R.A., Paperwork Reduction Project

0608–0042, Washington, DC 20503.

Regulatory Flexibility Act

The Assistant General Counsel for

Legislation and Regulation, Department

of Commerce, has certified to the Chief

Counsel for Advocacy, Small Business

Administration, under provisions of the

Regulatory Flexibility Act (5 U.S.C.

605(b)), that these rules will not have a

significant economic impact on a

substantial number of small entities.

Most small businesses are not foreign

owned, and many that are will not be

required to report in the benchmark

survey because their assets, sales, and

net income are each equal to or less than

the $3 million exemption level below

which reporting is not required. Also,

under these rules, companies with

assets, sales, or net income above $3

million, but not above $100 million,

will report on the abbreviated BE–12

short form, rather than on the BE–12

long form. In addition, companies with

assets, sales, or net income between $3

million and $30 million will report only

selected data items on the BE–12 short

form. These provisions are intended to

significantly reduce the reporting

burden on smaller companies.

List of Subjects in 15 CFR Part 806

Balance of payments, Economic

statistics, Foreign investments in the

United States, Reporting and

recordkeeping requirements.

Dated: December 22, 1997.

J. Steven Landefeld,

Director, Bureau of Economic Analysis.

For the reasons set forth in the

preamble, BEA amends 15 CFR part 806

as follows:

PART 806—DIRECT INVESTMENT

SURVEYS

1. The authority citation for 15 CFR

part 806 continues to read as follows:

Authority: 5 U.S.C. 301; 22 U.S.C. 3101–

3108; and E.O. 11961 (3 CFR, 1977 Comp.,

p. 86), as amended by E.O. 12013 (3 CFR,

1977 Comp., p. 147), E.O. 12318 (3 CFR, 1981

Comp., p. 173), and E.O. 12518 (3 CFR, 1985

Comp., p. 348).

2. Section 806.17 is revised to read as

follows:

§ 806.17 Rules and regulations for BE–12,

Benchmark Survey of Foreign Direct

Investment in the United States—1997.

A BE–12, Benchmark Survey of

Foreign Direct Investment in the United

States will be conducted covering 1997.

All legal authorities, provisions,

definitions, and requirements contained

in §§ 806.1 through 806.13 and § 806.15

(a) through (g) are applicable to this

survey. Specific additional rules and

regulations for the BE–12 survey are

given in this section.

(a) Response required. A response is

required from persons subject to the

reporting requirements of the BE–12,

Benchmark Survey of Foreign Direct

Investment in the United States—1997,

contained in this section, whether or not

they are contacted by BEA. Also, a

person, or their agent, contacted by BEA

concerning their being subject to

reporting, either by sending them a

report form or by written inquiry, must

respond in writing pursuant to § 806.4.

This may be accomplished by

completing and returning either Form

BE–12(X) within 30 days of its receipt

if Form BE–12(LF), Form BE–12(SF), or

Form BE–12 Bank do not apply, or by

completing and returning Form BE–

12(LF), Form BE–12(SF), or Form BE–12

Bank, whichever is applicable, by May

31, 1998.

(b) Who must report. A BE–12 report

is required for each U.S. affiliate, i.e., for

each U.S. business enterprise in which

a foreign person owned or controlled,

directly or indirectly, 10 percent or

more of the voting securities if an

incorporated U.S. business enterprise,

or an equivalent interest if an

unincorporated U.S. business

enterprise, at the end of the business

enterprise’s 1997 fiscal year. A report is

required even though the foreign

person’s ownership interest in the U.S.

business enterprise may have been

established or acquired during the

reporting period. Beneficial, not record,

ownership is the basis of the reporting

criteria.

(c) Forms to be filed. (1) Form BE–

12(LF)—Benchmark Survey of Foreign

Direct Investment in the United States—

1997 (Long Form) must be completed

and filed by May 31, 1998, by each U.S.

business enterprise that was a U.S.

affiliate of a foreign person at the end of

its 1997 fiscal year, if:

(i) It is not a bank, and

(ii) On a fully consolidated, or, in the

case of real estate investment, an

aggregated basis, one or more of the

following three items for the U.S.

affiliate (not just the foreign parent’s

share) exceeded $100 million (positive

or negative) at the end of, or for, its 1997

fiscal year:

(A) Total assets (do not net out

liabilities);

(B) Sales or gross operating revenues,

excluding sales taxes; or

(C) Net income after provision for U.S.

income taxes.

(2) Form BE–12(SF)—Benchmark

Survey of Foreign Direct Investment in

the United States—1997 (Short Form)

must be completed and filed by May 31,

1998, by each U.S. business enterprise

that was a U.S. affiliate of a foreign

person at the end of its 1997 fiscal year;

if:

(i) It is not a bank, and

(ii) On a fully consolidated, or, in the

case of real estate investments, an

aggregated basis, one or more of the

following three items for the U.S.

affiliate (not just the foreign parent’s

share) exceeded $3 million, but no one

item exceeded $100 million (positive or

negative) at the end of, or for, its 1997

fiscal year:

(A) Total assets (do not net out

liabilities);

(B) Sales or gross operating revenues,

excluding sales taxes; or

(C) Net income after provision for U.S.

income taxes.

(3) Form BE–12 Bank—Benchmark

Survey of Foreign Direct Investment in

the United States—1997 BANK must be

completed and filed by May 31, 1998,

by each U.S. business enterprise that

was a U.S. affiliate of a foreign person

at the end of its 1997 fiscal year, if:

(i) The U.S. affiliate is in ‘‘banking’’,

which, for purposes of the BE–12
3462 Federal Register / Vol. 63, No. 15 / Friday, January 23, 1998 / Rules and Regulations

1The Filer Manual originally was adopted on

April 1, 1993, and became effective on April 26,

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

18638]. The most recent update to the Filer Manual

was implemented on August 23, 1997. See Release

No. 33–7432 (July 29, 1997) [62 FR 41841].

2See Rule 301 of Regulation S–T (17 CFR

232.301).

3See 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] for a comprehensive

treatment of the rules adopted by the Commission

governing mandated electronic filing. See also

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

in which the Commission made the EDGAR rules

final and applicable to all domestic registrants,

Release No. 33–7427 (July 1, 1997) [62 FR 36450],

adopting the most recent minor amendments to the

EDGAR rules; and Release No. 33–7472 (Oct. 24,

1997) [62 FR 58647], in which the Commission

announced that, as of January 1, 1998, it would not

accept paper filings required to be filed

electronically.

4See Release No. 33–7448 (Sep. 10, 1997) [62 FR

47934]. The rule amendments adopted in that

release provided for automatic registration of an

indefinite number of securities by all open-end

management investment companies and unit

investment trusts. As a result, election by these

issuers of registration of an indefinite number of

shares is no longer necessary or appropriate.

Accordingly, all EDGAR submission types used for

making that election are being eliminated.

survey, covers business enterprises

engaged in deposit banking or closely

related functions, including commercial

banks, Edge Act corporations engaged in

international or foreign banking, U.S.

branches and agencies of foreign banks

whether or not they accept domestic

deposits, savings and loans, savings

banks, and bank holding companies,

i.e., holding companies for which over

50 percent of their total income is from

banks which they hold, and

(ii) On a fully consolidated basis, one

or more of the following three items for

the U.S. affiliate (not the foreign

parent’s share) exceeded $3 million

(positive or negative) at the end of, or

for, its 1997 fiscal year:

(A) Total assets (do not net out

liabilities);

(B) Sales or gross operating revenues,

excluding sales taxes; or

(C) Net income after provision for U.S.

income taxes.

(4) Form BE–12(X)—Benchmark

Survey of Foreign Direct Investment in

the United States—1997, Claim for

Exemption from Filing BE–12(LF), BE–

12(SF), and BE–12 Bank must be

completed and filed within 30 days of

the date it was received, or by May 31,

1998, whichever is sooner, by:

(i) Each U.S. business enterprise that

was a U.S. affiliate of a foreign person

at the end of its 1997 fiscal year

(whether or not the U.S. affiliate, or its

agent, is contacted by BEA concerning

its being subject to reporting in the 1997

benchmark survey), but is exempt from

filing Form BE–12(LF), Form BE–12(SF),

and Form BE–12 Bank; and

(ii) Each U.S. business enterprise, or

its agent, that is contacted, in writing,

by BEA concerning its being subject to

reporting in the 1997 benchmark survey

but that is not otherwise required to file

the Form BE–12(LF), Form BE–12(SF),

or Form BE–12 Bank.

(d) Aggregation of real estate

investments. All real estate investments

of a foreign person must be aggregated

for the purpose of applying the

reporting criteria. A single report form

must be filed to report the aggregate

holdings, unless written permission has

been received from BEA to do

otherwise. Those holdings not

aggregated must be reported separately.

(e) Exemption. (1) A U.S. affiliate as

consolidated, or aggregated in the case

of real estate investments, is not

required to file a Form BE–12(LF), BE–

12(SF), or Form BE–12 Bank if each of

the following three items for the U.S.

affiliate (not just the foreign parent’s

share) did not exceed $3 million

(positive or negative) at the end of, or

for, its 1997 fiscal year:

(i) Total assets ( do not net out

liabilities);

(ii) Sales or gross operating revenues,

excluding sales taxes; and

(iii) Net income after provision for

U.S. income taxes.

(2) If a U.S. business enterprise was a

U.S. affiliate at the end of its 1997 fiscal

year but is exempt from filing a

completed Form BE–12(LF), BE–12(SF),

or Form BE–12 Bank, it must

nevertheless file a completed and

certified Form BE–12(X).

(f) Due date. A fully completed and

certified Form BE–12(LF), Form BE–

12(SF), or BE–12 Bank is due to be filed

with BEA not later than May 31, 1998.

A fully completed and certified Form

BE–12(X) is due to be filed with BEA

within 30 days of the date it was

received, or by May 31, 1998, whichever

is sooner.

[FR Doc. 98–1541 Filed 1–22–98; 8:45 am]

BILLING CODE 3510–06–M

SECURITIES AND EXCHANGE

COMMISSION

17 CFR Part 232

[Release Nos. 33–7495; 34–39558; 35–

26818; 39–2361; IC–23002]

RIN 3235–AG96

Adoption of Updated EDGAR Filer

Manual

AGENCY: Securities and Exchange

Commission.

ACTION: Final rules.

SUMMARY: The Commission is adopting

an updated edition of the EDGAR Filer

Manual and is providing for its

incorporation by reference into the Code

of Federal Regulations.

DATES: Effective: The amendment to 17

CFR part 232 (Regulation S–T) will be

effective on January 26, 1998.

Other dates: The new edition of the

EDGAR Filer Manual (Release 5.40) will

be effective on January 26, 1998. The

incorporation by reference of the

EDGAR Filer Manual is approved by the

Director of the Federal Register as of

January 26, 1998.

FOR FURTHER INFORMATION CONTACT: In

the Office of Information Technology,

Michael E. Bartell at (202) 942–8800; for

questions concerning investment

company filings, Ruth Armfield

Sanders, Senior Counsel, Division of

Investment Management, at (202) 942–

0633; and for questions concerning

Corporation Finance company filings,

Margaret R. Black at (202) 942–2933.

SUPPLEMENTARY INFORMATION: The

Commission today announces the

adoption of an updated EDGAR Filer

Manual (‘‘Filer Manual’’), which sets

forth the technical formatting

requirements governing the preparation

and submission of electronic filings

through the Electronic Data Gathering,

Analysis, and Retrieval (‘‘EDGAR’’)

system.1 Compliance with the

provisions of the Filer Manual is

required in order to assure the timely

acceptance and processing of filings

made in electronic format.2 Filers

should consult the Filer Manual in

conjunction with the Commission’s

rules governing mandated electronic

filing when preparing documents for

electronic submission.3

In this edition of the EDGAR System

and the Filer Manual (Release 5.40),

filers will be able to specify either an

Internet address or a CompuServe

address or both to receive messages on

the status of an electronic filing. Since

messages sent through Internet may not

be as secure as messages sent via

CompuServe, certain company

information will be omitted from

Internet messages for suspended filings

and test filings.

Release 5.40 adds two EDGAR

submission types for filings submitted

by investment companies and deletes or

changes the header information of

several existing submission types. These

changes are being made to accommodate

the recent rule and form amendments

changing the method by which certain

investment companies calculate and pay

registration fees.4 The following

submission types have been added for