Document ID: SEC-2007-0735-0001
Agency: sec
Document Type: Proposed Rule
Title: Amendments to Financial Responsibility Rules for Broker-Dealers
Posted Date: 2007-05-23T04:00Z

[Federal Register: May 23, 2007 (Volume 72, Number 99)]
[Proposed Rules]               
[Page 28908]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23my07-24]                         

[[Page 28908]]

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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 240

[Release No. 34-55777; File No. S7-08-07]
RIN 3235-AJ85

 
Amendments to Financial Responsibility Rules for Broker-Dealers

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule; extension of comment period.

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SUMMARY: The Securities and Exchange Commission is extending the 
comment period for a release proposing amendments to its net capital, 
customer protection, books and records, and notification rules for 
broker-dealers under the Securities Exchange Act of 1934 (``Exchange 
Act''), which was issued by the Commission on March 9, 2007 (Exchange 
Act Release No. 55431, 72 FR 12862 (Mar. 19, 2007)). The original 
comment period for Release No. 34-55431 is scheduled to end on May 18, 
2007. The Commission is extending the time period in which to provide 
the Commission with comments on the proposed amendments described in 
Release No. 34-55431 for thirty-one days until Monday, June 18, 2007. 
This action will allow all interested persons additional time to 
analyze the issues and prepare their comments.

DATES: Comments should be received on or before June 18, 2007.

ADDRESSES: Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/proposed.
); or     Send an e-mail to rule-comments@sec.gov. Please include 

File Number S7-08-07 on the subject line; or
     Use the Federal eRulemaking Portal (http://www.regulations.gov
). Follow the instructions for submitting comments.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number S7-08-07. This file number 
should be included on the subject line if e-mail is used. To help us 
process and review your comments more efficiently, please use only one 
method. The Commission will post all comments on the Commission's 
Internet Web site (http://www.sec.gov/rules/proposed). Comments will 

also be available for public inspection and copying in the Commission's 
Public Reference Room, 100 F Street, NE., Washington, DC 20549. All 
comments received will be posted without change; we do not edit 
personal identifying information from submissions. You should submit 
only information that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: Michael A. Macchiaroli, Associate 
Director, at (202) 551-5525; Thomas K. McGowan, Assistant Director, at 
(202) 551-5521; Randall Roy, Branch Chief, at (202) 551-5522; or Bonnie 
Gauch, Attorney, (202) 551-5524; Division of Market Regulation, 
Securities and Exchange Commission, 100 F Street, NE., Washington, DC 
20549-6628.

SUPPLEMENTARY INFORMATION: On March 9, 2007, the Commission requested 
comment on proposed amendments to the Commission's net capital, 
customer protection, books and records, and notification rules for 
broker-dealers under the Exchange Act.\1\ Specifically, the proposed 
amendments are designed to address several emerging areas of concern 
regarding the financial requirements for broker-dealers. They also 
would update the financial responsibility rules and make certain 
technical amendments.
    The Commission originally requested that comments on this proposal 
be received by May 18, 2007. The Commission thus far has received few 
public comments and believes that extending the comment period would be 
appropriate in order to give the public additional time to thoroughly 
consider the matters addressed by the release.\2\ Therefore, the 
Commission is extending the comment period for Release No. 34-55431 
(Amendments to Financial Responsibility Rules for Broker-Dealers) for 
thirty-one days, to Monday, June 18, 2007.\3\
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    \1\ See Exchange Act Release No. 55431, 72 FR 12862 (Mar. 19, 
2007). 2
    \2\ See also Letter from Gerard J. Quinn, Vice President and 
Associate General Counsel of SIFMA to Michael Macchiaroli, date May 
4, 2007 (noting the importance of the issues discussed in the 
release and the complexity of the issues involved).
    \3\ If the comment period was extended for thirty days, the due 
date would fall on a Sunday. Therefore, the Commission is extending 
the comment period for thirty-one days.

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    Dated: May 17, 2007.

    By the Commission.
Nancy M. Morris,
Secretary.
[FR Doc. E7-9833 Filed 5-22-07; 8:45 am]

BILLING CODE 8010-01-P