U. S. Securities and Exchange Commission

Securities Exchange Act of 1934
Release No. 47681 / April 15, 2003

Report on Administrative Proceedings
for the Period October 1, 2002 through March 31, 2003

Rule 900 of the Commission's Rules of Practice (17 CFR 201.900) requires the Commission's Secretary to issue each October and April a status report on the Commission's administrative proceedings caseload.

The report identifies the number of matters pending before the administrative law judges and the Commission at the beginning of the six-month period; the number of matters instituted, filed, and disposed of during the period; and the number pending at the end of the period. For each category of decision, the report shows the median age of the matters at the time of decision and the number of matters decided within the guidelines in Rule 900 for the timely completion of adjudicatory proceedings. Finally, the report includes data from the previous two six-month periods.

Report on Administrative Proceedings
for the Period October 1, 2002 through March 31, 2003

Matters Before the Administrative Law Judges

	10/1/2002- 3/31/2003	4/1/2002- 9/30/2002	10/1/2001- 3/31/2002
Number pending at start of period	45	51	60
New matters added during period	34	31	19
Subtotal	79	82	79
Dispositions:
Initial Decisions	9	15	8
Other dispositions (e.g., settlements, defaults)1	33	22	20
Total pending at end of period	37	45	51
Initial Decisions:
Median age at decision (days)	417	425	713
Number issued within 10 months	3	4	3

Matters Before the Commission

	10/1/2002- 3/31/2003	4/1/2002- 9/30/2002	10/1/2001- 3/31/2002
Review of ALJ Matters2
Number pending at start of period	39	39	34
New matters added during period	4	10	113
Subtotal	43	49	45
Dispositions:
Opinions	8	9	6
Other dispositions (e.g., dismissals)	0	1	--
Total pending at end of period	35	39	39
Opinions:
Median age at decision (days)	683	546	734
Number decided within 11 months	1	2	0i

Matters Before the Commission

	10/1/2002- 3/31/2003	4/1/2002- 9/30/2002	10/1/2001- 3/31/2002
Review of Self-Regulatory Organization Decisions4
Number pending at start of period	21	18	24
New matters added during period	11	7	4
Subtotal	32	25	28
Dispositions:
Opinions	13	4	9
Other dispositions (e.g., dismissals, remands)	2	0	1
Total pending at end of period	17	21	18
Opinions:
Median age at decision (days)	532	558	459
Number decided within 11 months	0	1	3

	10/1/2002- 3/31/2003	4/1/2002- 9/30/2002	10/1/2001- 3/31/2002
Miscellaneous Matters
Interlocutory Motions:
Number pending at start of period	0	3	1
Number filed during period	0	0	2
Number decided during period	0	3	0
Total pending at end of period	0	0	3
Median age at decision (days)	0	605	--
Number decided within 45 days	0	0	--
Stay Requests:
Number pending at start of period	0	1	0
Number filed during period	13	3	7
Number decided during period	13	4	6
Total pending at end of period	0	0	1
Median age at decision (days)	2	3	2
Number decided within guidelines6	13	3	6

______________________

1	Includes all proceedings disposed of other than by an initial decision, including default orders that dispose of the entire proceeding.
2	May include review of initial decisions, review of other non-interlocutory ALJ matters, and matters on remand from the Courts of Appeals.
3	Includes one matter appealed during the last reporting period and not included in the previous report.
4	May include matters filed pursuant to Section 11A of the Securities Exchange Act of 1934.
5	The age at decision of the three motions was 47 days, 60 days, and 987 days.
6	Guideline is either five days or 45 days depending on the effective date of the order requested to be stayed.

http://www.sec.gov/litigation/admin/34-47681.htm