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management evaluation; employee performance evaluation; insurance and health benefits; and incentive awards. He or she also is the Commission's liaison officer with the Office of Personnel Management, professional organizations and other government agencies on personnel matters. He or she is responsible for the day-to-day administration of the Regulation Regarding Conduct of Members and Employees except where otherwise specifically provided in the Regulation. (15 U.S.C. 78d-1, 78d-2) (43 FR 13377, Mar. 30, 1978, as amended at 50 FR 12240, Mar. 28, 1985)

of ADP in the securities industry; evaluating and recommending new information processing concepts and capabilities for application within the Commission; and, development of microcomputer and office automation capabilities and support within the Commission. (15 U.S.C. 78d-1, 78d-2; 11 U.S.C. 901, 1109(a)) (43 FR 13377, Mar. 30, 1978, as amended at 49 FR 12685, Mar. 30, 1984)

$ 200.26 Office of Administrative Services.

(a) The Director of Administrative Services is responsible for the development and execution of the Commission's office service programs, which include procurement, contract administration, telecommunications management, supply and space management, transportation, safety programs, emergency preparedness coordination and building security, as well as all mail, printing and publication operations of the Commission.

(b) The Director has authority to act as Contracting Officer for the Commission, serves as Printing Liaison with the Joint Committee on Printing and is the liaison with those Federal, state, and local government agencies involved with matters that are within the jurisdiction of the Director. (50 FR 12240, Mar. 28, 1985)

8 200.27 The Regional Administrators.

Each Regional Administrator is responsible for executing the Commission's programs within his geographic region as set forth below, subject to policy direction and review by the Di. vision Directors, the General Counsel, and the Chief Accountant. The Regional Administrators' responsibilities include particularly the investigation of transactions in securities on national securities exchanges, in the overthe-counter market, and in distribution to the public; the examination of members of national securities exchanges and registered brokers and dealers, transfer agents, investment advisers and investment companies including the examination of reports filed under $ 240.17a-5 of this chapter, the examination and processing of filings under $ $ 230.251 to 230.264 of this chapter issued pursuant to section 3(b) of the Securities Act of 1933; the examination and processing of filings under $ 239.28 of this chapter and any related filings under the Trust Indenture Act of 1939; the prosecution of injunctive actions in U.S. District Courts and administrative proceedings before Administrative Law Judges; the rendering of assistance to U.S. Attorneys in criminal cases; and the making of the Commission's facilities more readily available to the public in that region. In addition, the New York Regional Administrator is responsible for the participation in cases under Chapters 9 and 11 of the Bankruptcy Code in the New York and Boston Regions, and in the State of Pennsylvania; the Atlanta Regional Administrator in the Atlanta and Washington Regions, except the State of Pennsylvania; the Chicago Regional Administrator in

$ 200.26a Office of Information Systems

Management. The Office of Information Systems Management is responsible for the analysis, design programming, operation, and maintenance of all ADP systems; developing and implementing long-range ADP plans and programs; coordinating all ADP and systems analysis activities being considered or carried out by other divisions and offices, and furnishing such organizations with appropriate assistance and support; providing technical advice to the staff in connection with development of Commission rules and regulations having ADP implications; facilitating the Commission's surveillance

Chicago, Fort Worth and Denver regions, except for the State of Utah; and the Los Angeles Regional Administrator in the Los Angeles and Seattle regions, plus the State of Utah. (15 U.S.C. 774, 78d, 78d-1; secs. 6, 7, 8, 10, 19(a), 48 Stat. 78, 79, 81, 85; secs. 205, 209, 48 Stat. 906, 908; sec. 301, 54 Stat. 857; sec. 8, 68 Stat. 685; sec. 1, 79 Stat. 1051; sec. 308(a)(2), 90 Stat. 57; secs. 13, 15(d), 23(a), 48 Stat. 894, 895, 90k; sec. 203(a), 49 Stat. 704; secs. 3, 8, 49 Stat. 1377, 1379; secs. 4, 6, 10, 78 Stat. 569, 570-574, 580; sec. 2, 82 Stat. 454; secs. 1, 2, 84 Stat. 1497; secs. 10, 18, 89 Stat. 119, 155; sec. 308(b), 90 Stat. 57; (15 U.S.C. 771, 77g. 77, 77, 77s(a), 78m, 780(d), 78w(a)); 11 U.S.C. 901, 1109(a)) (37 FR 23826, Nov. 9, 1972, as amended at 44 FR 21566, Apr. 10, 1979; 49 FR 12685, Mar. 30. 1984; 50 FR 12240, Mar. 28, 1985)

or

8 200.28 Issuance of instructions.

(a) Within the spheres of responsibilities heretofore set forth, Division and Office Heads, and all Regional Administrators may issue such definitive instructions as may be necessary pursuant to this section.

(b) All existing procedures and authorizations not inconsistent with this section shall continue in effect until and unless modified by definitive instructions issued pursuant to this paragraph.

78d-1, 78d-2), the Securities and Exchange Commission hereby delegates, until the Commission orders otherwise, the following functions to the Director of the Division of Corporation Finance, to be performed by him or under his direction by such person or persons as may be designated from time to time by the Chairman of the Commission:

(a) With respect to registration of securities pursuant to the Securities Act of 1933 (15 U.S.C. 77a, et seq.), and Regulation C thereunder (§ 230.400, et seq. of this chapter):

(1) To determine the effective dates of amendments to registration statements filed pursuant to section 8(c) of the Act (15 U.S.C. 77h(c)).

(2) To consent to the withdrawal of registration statements amend. ments or exhibits thereto, pursuant to Rule 477 ($ 230.477 of this chapter), and to issue orders declaring registration statements abandoned, pursuant to Rule 479 (§ 230.479 of this chapter).

(3) To grant applications for confidential treatment of contract provisions pursuant to Rule 406 (§ 230.406 of this chapter) under the Act; to issue orders scheduling hearings on such applications and to deny any such application as to which the applicant waives his right to a hearing, provided such applicant is advised of his right to have such denial reviewed by the Commission.

(4) To accelerate the use or publication of any summary prospectus filed with the Commission pursuant to section 10(b) of the Act (15 U.S.C. 77j(b)) and Rule 431(g) ($ 230.431(g) of this chapter) thereunder.

(5) To take the following action pursuant to section 8(a) of the Act (15 U.S.C. 77h(a)):

(i) To determine registration statements to be effective within shorter periods of time than 20 days after the filing thereof;

(ii) To consent to the filing of amendments prior to the effective dates of registration statements as part thereof, or to determine that amendments filed prior to the effective dates of registration statements have been filed pursuant to orders of the Commission, so as to be treated as parts of the registration statements

8 200.29 Rules.

The individual operating divisions shall have the initial responsibility for proposing amendments to existing rules or new rules under the statutory provisions within the jurisdiction of the particular division. Where any such proposals presents a legal problem or is a matter of first impression, or involves a matter of enforcement policy or questions involving statutes other than those administered by the Commission, or may have an effect on prior judicial precedent or pending litigation, submission of the proposal should be made to the Office of the General Counsel for an expression of opinion prior to presentation of the matter to the Commission. $ 200.30–1 Delegation of authority to Di.

rector of Division of Corporation Fi.

nance.

Pursuant to the provisions of Pub. L., No. 87-592, 76 Stat. 394 (15 U.S.C.

for the purpose of section 8(a) of the Act (15 U.S.C. 77h(a));

(iii) To determine to be effective applications for qualification of trust indentures filed with registration statements.

(6) Pursuant to instructions as to financial statements contained in forms adopted under the Act:

(i) To permit the omission of one or more financial statements therein required or the filing in substitution therefor of appropriate statements of comparable character, or

(ii) To require the filing of other financial statements in addition to, or in substitution for, the statements therein required.

(7) Acting pursuant to section 4(3) of the Act (15 U.S.C. 770(3)) or Rule 174 thereunder ($ 230.174 of this chapter), to reduce the 40-day period or the 90day period with respect to transactions referred to in section 4(3)(b) of the Act (15 U.S.C. 770(3)(B)).

(8) To act on applications to dispense with any written consents of an expert pursuant to Rule 437 (§ 230.437 of this chapter).

(9) To adjust the filing date of a filing submitted in electronic format where the acceptance of the filing is delayed because of equipment malfunction or technical problem.

(b) With respect to the Securities Act of 1933 (15 U.S.C. 77a, et seq.) and Regulation B thereunder ($ 230.300, et seg. of this chapter):

(1) To authorize the commencement of the offering within shorter periods of time than 10 days after the filing of the offering sheet, pursuant to Rule 310(a) thereunder ($ 230.310(a) of this chapter);

(2) To authorize the issuance of orders temporarily suspending the effectiveness of offering sheets as prescribed in Rule 334 thereunder ($ 230.334 of this chapter);

(3) To issue notices of suspension of offering sheets and of opportunity for hearing thereon, in the manner prescribed in Rule 336(a) thereunder ($ 230.336(a) of this chapter);

(4) To terminate temporary suspension orders issued by the Commission under Rule 334 (§ 230.334 of this chapter), to terminate proceedings under Rule 336(a) ($ 230.336(a) of this chap

ter) and to issue notices of such action, if at any time before the Commission enters an order setting the matter down for hearing, as set forth in Rule 336(c) ($ 230.336(c) of this chapter), it finds that the offering sheet has been amended to cure the objections speci: fied in the temporary suspension order or the notice instituting the proceed. ing;

(5) To authorize the issuance of orders granting requests for withdraw. al of offering sheets, pursuant to Rule 344 thereunder ($ 230.344 of this chapter), when it appears that no sales of securities described in said offering sheets have, in fact, been made;

(6) To authorize the issuance of orders declaring offering sheets effec tive, as amended, filed in accordano with the provisions in Rule 340 there under ($ 230.340 of this chapter) and Rule 342(c) thereunder ($ 230.342(c) al this chapter);

(7) To authorize the issuance of orders terminating the effectiveness o offering sheets upon applications o persons filing them in compliance wit! the provisions of Rule 346 thereunde (§ 230.346 of this chapter); and

(8) To authorize the granting of ap plications for release of reports file with the Commission on Form 1-4 ($ 239.101(b)(1) of this chapter) pursu ant to Rule 316(a) thereunde (§ 239.316(a) of this chapter).

(c) With respect to the Securitie Act of 1933 (15 U.S.C. 77a, et seq.) an Regulation A thereunder ($ 230.251, 4 seq. of this chapter), to authorize th granting of applications under Rul 252(g) (§ 230.252(g) of this chapter upon a showing of good cause that it i not necessary under the circumstance that an exemption under Regulation! be denied.

(d) With respect to the Securitie Act of 1933 (15 U.S.C. 77a et seq.) ani Rule 242 thereunder ($ 230.242 of thi chapter), to authorize the granting a applications under Rule 242(a)(5) ($ 230.242(a)(5)(v) of this chapter upon a showing of good cause that it i not necessary under the circumstance that an exemption under Rule 242 bi denied.

(e) With respect to the Trust Inden ture Act of 1939 (15 U.S.C. 77aaa, el seq.):

an

on

in

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(1) To determine to be effective prior to the 20th day after filing thereof applications for qualification of indentures filed Form T-3 ($ 269.3 of this chapter) pursuant to section 307 of the Act (15 U.S.C. 77ggg), and Rule 7a-1 thereunder ($ 260.7a-1 of this chapter);

(2) To authorize the issuance of orders exempting certain securities from the provisions of the Act pursuant to sections 304 (c) and (d) thereof (15 U.S.C. 77ddd(c), 77ddd(d)) and Rule 4c-1, thereunder ($ 260.40-1 of this chapter);

(3) In cases in which opportunity for hearing is waived, to authorize the issuance of orders determining that a trusteeship under an indenture to be qualified and another indenture is not so likely to involve a material conflict of interest as to make it necessary to disqualify the trustee pursuant to seccion 310(b)(1)(ii) of the Act (15 U.S.C. 77jjj(b)(1)(ii)) and Rule 10b-2 thereunder (§ 260.10b-2 of this chapter).

(4) To adjust the filing date of a filing submitted

electronic format where the acceptance of the filing is delayed because of equipment malfunction or technical problem.

(f) With respect to the Securities Exchange Act of 1934 (15 U.S.C. 78a, et seq.):

(1) To determine to be effective applications for registration of securities on a national securities exchange prior o 30 days after receipt of a certificaion pursuant to section 12(d) of the Act (15 U.S.C. 781(d));

(2) Pursuant to instructions as to filancial statements contained in forms dopted under the Act:

(i) To extend the time for filing or to ermit the ommission of one or more inancial statements therein required or the filing in substitution therefor of ppropriate statements of comparable haracter.

(ii) To require the filing of other filancial statements in addition to, or in ubstitution for, the statements theren required;

(3)(i) To grant and deny applications or confidential treatment filed pursuint to section 24(b) of the Act (15 J.S.C. 78x(b)) and Rule 24b-2 thereinder ($ 240.24b-2 of this chapter);

(ii) To revoke a grant of any such application for confidential treatment.

(4) To authorize the use of forms of proxies, proxy statements or other soliciting material within periods of time less than that prescribed in Rules 14a6, 14a-8(d) and 14a-11 ($ $ 240.14a-6, 240.14a-8(d), and 240.14a-11 of this chapter); to authorize the filing of information statements within periods of time less than that prescribed in Rule 140-5(a) ($ 240.140-5(a) of this chapter); and to authorize the filing of information pursuant to Rule 14d-2(f) (§ 240.14d-2(f) of this chapter) and Rule 14f-1 ($ 240.14f-1 of this chapter) within periods of time less than that prescribed in those sections.

(5) To grant or deny applications filed pursuant to section 12(g)(1) of the Act (15 U.S.C. 781(g)(1)) for extensions of time within which to file registration statements pursuant to that section, provided the applicant is advised of his right to have any such denial reviewed by the Commission.

(6) To accelerate at the request of the issuer the effective date of registration statements filed pursuant to section 12(g) of the Act (15 U.S.C. 781(g)).

(7) To issue notices of applications for exemptions and to grant exemptions under section 12(h) of the Act (15 U.S.C. 781(h)).

(8) At the request of the issuer to accelerate the termination of registration of any class of equity securities as provided in section 12(g)(4) of the Act (15 U.S.C. 781(g)(4)) or as provided in Rule 12g3-2(a)(2) (§ 240.12g3-2(a)(2)).

(9) Upon receipt of a notification from the Secretary of the Treasury designating a security for exemption pursuant to section 3(a)(12), to issue public releases announcing such designation.

(10) To issue public releases listing those foreign issuers which appear to be current in submitting the information specified in Rule 12g3-2(b) (§ 240.12g3-2(b)).

(11) To adjust the filing date of a filing submitted in an electronic format where the acceptance of the filing is delayed because of equipment malfunction or technical problem.

(g) To designate officers empowered to administer oaths and affirmations,

Stat. 685; sec. 308(a)(2), 90 Stat. 57; secs. 3(b), 12, 13, 14, 15(d), 23(a), 48 Stat. 882, 892, 894, 895, 901; secs. 203(a), 1, 3, 8, 49 Stat. 704, 1375, 1377, 1379; sec. 202, 68 Stat. 686; secs. 4, 5, 6(d), 78 Stat. 569, 570-574; secs. I, 2, 3, 82 Stat. 454, 455; secs. 28(c), 1, 2, 3, 4, 5, 84 Stat. 1435, 1497; sec. 105(b), 88 Stat. 1503 secs. 8, 9, 10, 89 Stat. 117, 118, 119; sec. 308(b), 90 Stat 57; sec. 18, 89 Stat. 155; secs. 202, 203, 204, 91 Stat. 1494, 1498-1500; sec. 20(a), 49 Stat. 833; sec. 319, 53 Stat. 1173; sec. 38, 54 Stat. 841; 15 U.S.C. 771, 77g, 77h, 773, 77s(a), 78c(b), 781, 78m, 78n, 780(d), 78w(a), 79(a), 77sss(a), 80a-37; Pub. L. 87592, 76 Stat. 394, 15 U.S.C. 78d-1, 78d-2) (41 FR 29375, July 16, 1976; 41 FR 40461, Sept. 20, 1976, as amended at 42 FR 5040, Jan. 27, 1977; 42 FR 62128, Dec. 9, 1977; 43 FR 4254, Feb. 1, 1978; 43 FR 13377, Mar. 30, 1978; 45 FR 76976, Nov. 21, 1980; 46 FR 10905, Feb. 5, 1981; 46 FR 13507, Feb. 23. 1981; 47 FR 11401, Mar. 16, 1982; 49 FR 45848, Nov. 21, 1984)

subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, contracts, agreements, or other records in the course of any examination or investigation instituted by the Commission pursuant to section 16(b) of the Securities Act of 1933 (15 U.S.C. 775(b)), section 21(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78u(b)), section 8(e) of the Securities Act of 1933 (15 U.S.C. 77h(c)).

(h) In nonpublic investigatory proceedings within the responsibility of the Director, to grant requests of persons to procure copies of the transcript of their testimony given pursuant to Rule 6 of the Commission's Rules Relating to Investigations as in effect subsequent to November 16, 1972 (§ 203.6 of this chapter).

(i) Notwithstanding anything in the foregoing:

(1) Matters arising under the Investment Company Act of 1940 (15 U.S.C. 80a-1, et seq.), the Securities Act of 1933 (15 U.S.C. 77a, et seq.), the Securities Exchange Act of 1934 (15 U.S.C. 78a, et seq.) and the Trust Indenture Act of 1939 (15 U.S.C. 77aaa, et seq.) pertaining to investment companies registered under the Investment Company Act of 1940 are not within the scope of the functions delegated to the Director of the Division of Corporation Finance, except those arising under section 30(f) of the Investment Company Act of 1940 (15 U.S.C. 80a29(f));

(2) The Director of the Division of Corporation Finance shall have the same authority with respect to the Securities Act of 1933 (15 U.S.C. 77a, et seq.), Regulation A ($ 230.251, et seq. of this chapter), as that delegated to each Regional Administrator in paragraphs (a), (b) and (d) of Article 30-6 of the Commission's Statement of Organization, Conduct and Ethics, and Information and Requests ($ 200.30-6 of this chapter);

(3) In any case in which the Director of the Division of Corporation Finance believes it appropriate, he may submit the matter to the Commission. (15 U.S.C. 78d-1, 78d-2; secs. 6, 7, 8, 10, 19(a), 48 Stat. 78, 79, 81, 85; secs. 205, 209, 48 Stat. 906, 908; sec. 301, 54 Stat. 857; sec. 8, 68

8 200.30-3 Delegation of authority to Di

rector of Division of Market Regula.

tion. Pursuant to the provisions of Pub. L 87-592, 76 Stat. 394, 15 U.S.C. 78d-1, 78d-2), the Securities and Exchange Commission hereby delegates, until the Commission orders otherwise, the following functions to the Director of the Division of Market Regulation to be performed by him or under his direction by such person or persons as may be designated from time to time by the Chairman of the Commission:

(a) With respect to the Securities Exchange Act of 1934 (15 U.S.C. 782, et seq.):

(1) To approve the withdrawal or striking from listing and registration of securities registered on any national securities exchange pursuant to sec. tion 12(d) of the Act (15 U.S.C. 78/(d)) and Rules 12d2-1 and 12d2-2 thereunder ($ $ 240.12d2-1 and 240.12d2-2 of this chapter);

(2) To extend unlisted trading privi leges and to deny applications for unlisted trading privileges by national se curities exchanges pursuant to section 12(f)(2) of the Act, 15 U.S.C. 782(f)(2), and Rule 12f-1 thereunder, 17 CFR 240.12f-1, provided that any applicant exchange denied unlisted trading privileges is advised of its right to have such denial reviewed by the Commission.

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