FOR IMMEDIATE RELEASE                             2001-91

          SEC TAKES ACTION TO FACILITATE REOPENING
            OF FAIR AND ORDERLY EQUITIES MARKETS

  Washington, D.C. September 14, 2001 - The Commission today
announced  that  it  has  taken  the  following   steps   to
facilitate the planned reopening of U.S. equities markets on
Monday,  September 17, 2001.  These markets are the  world's
strongest and most vibrant, in spite of the heinous acts  of
last Tuesday.

  The Commission has used, for the first time, its emergency
powers  to ease certain regulatory restrictions temporarily.
The key actions are the following:

  *  Public companies may repurchase their own securities
     without meeting the volume and timing restrictions that
     ordinarily would apply.
   
  *  Public companies that repurchase their shares will not
     have adverse accounting consequences.

  *  Brokerage  firms may calculate net  capital  without
     considering the days the market was closed.

  *  Mutual  funds  may borrow from and lend  to  related
     parties.

  *  In order to facilitate mutual fund board meetings, the
     Commission has relaxed requirements for in-person meetings.

  *  Accounting firms may provide bookkeeping services to
     and help recover records for clients with offices in and
     around the World Trade Center, without violating auditor
     independence rules.

Copies  of the orders and interpretive release are available
on the Commission's website, at www.sec.gov.
     
     The SEC has placed additional information for investors
and  market  participants  on its website,  and  established
information telephone lines for each.  Investors can  e-mail
questions  to the SEC staff at help@sec.gov.  The  toll-free
investor telephone number is 1-800-SEC-0330.  Firms  seeking
additional  relief under the Financial Responsibility  Rules
should  call the SEC staff at 202-942-7891, 202-942-7892  or
202-942-7893.  All other firm inquiries should  be  directed
to 202-942-0069.

     The  Commission will monitor the situation.   Investors
should   be   assured  that  U.S.  markets   will   function
effectively  and  fairly,  and  that  market  and   investor
protections  are  squarely  in place.   Market  participants
should be assured that the Commission and its staff will  be
available  to  respond to issues raised by the extraordinary
circumstances of this week.