Release No. 34-34962A

Fed. Reg. Nov.25, 1994

Confirmation of Transactions; Correction

ACTION: Corrections to final rule.

SUMMARY: This document contains corrections to recent amendments to Rule 10b-10 under the Securities Exchange Act of 1934 (Securities Exchange Act Release No. 34962) that were published in the Federal Register on Thursday, November 17, 1994 (59 FR 59612). Rule 10b-10 requires brokers and dealers that effect a securities transaction for a customer to send an immediate confirmation containing information relevant to the transaction.

EFFECTIVE DATES: April 3, 1995.

FOR FURTHER INFORMATION CONTACT: C. Dirk Peterson, Senior Counsel, (202/942-0073), Division of Market Regulation, Securities and Exchange Commission, 450 Fifth Street, N.W., Mail Stop 7-10, Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: Rule 10b-10 under the Securities Exchange Act of 1934 requires, among other things, that non-market maker brokers and dealers disclose their mark-ups and mark-downs in riskless principal transactions in equity securities. This disclosure requirement was adopted by the Securities and Exchange Commission in 1977 in Securities Exchange Act Release No. 13508, and amended in Securities Exchange Act Release No. 34962.

Need For Correction

The amendments to Rule 10b-10 contain an error in the mark-up and mark-down disclosure requirements for riskless principal transactions in equity securities. Specifically, the modifying term ''equity'' was omitted from (a)(2)(ii)(A) of Rule 10b-10. This disclosure requirement should apply solely to equity securities.

Correction of Publication

Accordingly, the publication on November 17, 1994 containing the adoption of amendments to Rule 10b-10 which were published in 59 FR 59612 is corrected as follows:

Sec. 240.10b-10 [Corrected]

On page 59621, in the first column, Sec. 240.10b-10, paragraph (a)(2)(ii)(A) in the second line, the word ''that'' is removed and the phrase ''an equity'' is added to precede the word ''security''.

On page 59621, in the first column, Sec. 240.10b-10, paragraph (a)(2)(ii)(A) in the fifth line, the word ''equity'' is added to precede the word ''security''.

Dated: November 18, 1994.