NASD Special Notice to Members 98-034 - March 1998

SEC Requests Comment on Amendments to Rule 17a-5 Requiring Reports on Year 2000 Preparedness

Executive Summary

The Securities and Exchange Commission (SEC) is soliciting comment on temporary rule amendments to SEC Rule 17a-5 that would require broker/dealers to file two reports regarding their Year 2000 readiness. There is a short time frame for submitting comments to the SEC. Comments must be submitted on or before April 13, 1998.  Pertinent details of the proposed amendments are outlined below. Members are urged to read SEC Release No. 34-39724 in its entirety. The release was published in the Federal Register, a copy of which follows the text of this Notice. See 63 FR 12056 (March 12, 1998).