[Federal Register Volume 60, Number 33 (Friday, February 17, 1995)]
[Notices]
[Pages 9414-9415]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-4058]



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[[Page 9415]]

SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 33-7135; 34-35368 File No. 265-20]


Advisory Committee on the Capital Formation and Regulatory 
Processes

AGENCY: Securities and Exchange Commission.

ACTION: Notice.

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SUMMARY: The Chairman of the Commission, with the concurrence of the 
other members of the Commission intends to establish the Securities and 
Exchange Commission Advisory Committee on the Capital Formation and 
Regulatory Processes (``Committee''), which will advise the Commission 
regarding the informational needs of investors and the regulatory costs 
imposed on the U.S. securities markets.
    The first meeting of the Committee will be held on March 6, 1995 in 
room 1C30 at the Commission's main offices, 450 Fifth Street, N.W., 
Washington, D.C. beginning at 10:00 a.m. The meeting will be open to 
the public, and the public is invited to submit written comments to the 
Committee.

ADDRESSES: Written comments should be submitted in triplicate and 
should refer to File No. 265-20. Comments should be submitted to 
Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 
Fifth Street, N.W., Washington, D.C. 20549.

FOR FURTHER INFORMATION CONTACT:Meridith Mitchell, Special Counsel, 
Office of the General Counsel, at 202-942-0890; Securities and Exchange 
Commission, 450 Fifth Street, N.W., Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: In accordance with the requirements of the 
Federal Advisory Committee Act, 5 U.S.C. App., the Securities and 
Exchange Commission has directed publication of this notice that 
Chairman Arthur Levitt, with the concurrence of the other members of 
the Commission, intends to establish the ``Securities and Exchange 
Commission Advisory Committee on the Capital Formation and Regulatory 
Processes.'' Chairman Levitt certifies that he has determined that the 
creation of the Committee is necessary and in the public interest.
    The Committee's charter directs the Committee to assist the 
Commission in evaluating the efficiency and effectiveness of the 
regulatory process and the disclosure requirements relating to public 
offerings of securities, secondary market trading and corporate 
reporting, and in identifying and developing means to minimize costs 
imposed by current regulatory programs, from the perspective of 
investors, issuers, the various market participants, and other 
interested persons and regulatory authorities.
    To achieve the Committee's goals, members will be appointed that 
can represent effectively the varied interests affected by the range of 
issues to be considered. The Committee's membership may include, among 
others, persons who can represent investors, issuers, market 
participants, independent public accountants, regulators and the public 
at large. The Commission expects that the Committee's members will 
represent a variety of viewpoints and have varying experience, and that 
the Committee will be fairly balanced in terms of points of view, 
backgrounds and tasks. The Chairman of the Committee will be 
Commissioner Steven M.H. Wallman.
    The Committee will conduct its operations in accordance with the 
provisions of the Federal Advisory Committee Act. The duties of the 
Committee will be solely advisory. Determinations of action to be taken 
and policy to be expressed with respect to matters upon which the 
Advisory Committee provides advice or recommendations shall be made 
solely by the Commission.
    The Committee will meet at such intervals as are necessary to carry 
out its functions. It is expected that meetings of the full Committee 
generally will occur no more frequently than nine times; meetings of 
subgroups of the full Advisory Committee will likely occur more 
frequently. The Securities and Exchange Commission will provide 
necessary support services to the Committee.
    The Committee will terminate at the end of one year from the date 
of its establishment unless, prior to such time, its charter is renewed 
in accordance with the Federal Advisory Committee Act, or unless the 
Chairman, with the concurrence of the other members of the Commission, 
determines that continuance of the Committee is no longer in the public 
interest.
    Fifteen days after publication of this notice in the Federal 
Register, a copy of the charter of the Committee will be filed with the 
Chairman of the Commission, the Senate Committee on Banking, Housing, 
and Urban Affairs and the House Committee on Commerce. A copy of the 
charter will also be furnished to the Library of Congress and placed in 
the Commisssion's Public Reference Room for public inspection.
    Furthermore, upon establishment of the Committee, and in accordance 
with section 10(a) of the Federal Advisory Committee Act, 5 U.S.C. App. 
10a, notice is hereby given that the first meeting of the Committee 
will be held on March 6, 1995 in room 1C30 at the Commission's main 
offices, 450 Fifth Street, N.W., Washington, D.C., beginning at 10:00 
a.m. The meeting will be open to the public. The purpose of this 
meeting will be to discuss general organizational matters, to plan the 
progression of the Committee's work, and to begin discussion of the 
effects of the current regulatory scheme on capital formation in the 
United States.

    Dated: February 13, 1995.

    By the Commission.
Jonathan G. Katz,
Secretary.
[FR Doc. 95-4058 Filed 2-16-95; 8:45 am]
BILLING CODE 8010-01-M