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U.S. Securities and Exchange Commission

U. S. Securities and Exchange Commission

Securities Exchange Act of 1934
Release No. 50550 / October 15, 2004

Report on Administrative Proceedings
for the Period April 1, 2004 through September 30, 2004

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 attached 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 or within the time specified in orders instituting proceedings for issuance of an initial decision, or any extension granted by the Commission. Finally, the report includes data from the previous two six-month periods.

Report on Administrative Proceedings
for the Period April 1, 2004 through September 30, 2004

Matters Before the Administrative Law Judges

  4/1/2004 – 9/30/2004 10/1/2003–3/31/2004 4/1/2003– 9/30/2003
Number pending at start of period 40 38 37
New matters added during period 71 32 40
Subtotal 111 70 77
Dispositions:      
Initial Decisions 14 10 10 (12)1
Other dispositions
(e.g., settlements, defaults)2 		33 20 29
Total pending at end of period 64 40 38
Initial Decisions:      
Median age at decision (days) 247 156 241
Number issued within guideline
or specified time period3 		8 6 7

Matters Before the Commission

  4/1/2004 – 9/30/2004 10/1/2003–3/31/2004 4/1/2003– 9/30/2003
Review of ALJ Matters4      
Number pending at start of period 9 15 35
New matters added during period 5 7 4
Subtotal 14 22 39
Dispositions:      
Opinions 5 12 (13) 5 23
Other dispositions
(e.g., dismissals) 		0 1 1
Total pending at end of period 9 9 15
Opinions:      
Median age at decision (days) 237 449 933
Number decided within guideline6 2 5 2

Matters Before the Commission

  4/1/2004 – 9/30/2004 10/1/2003–3/31/2004 4/1/2003– 9/30/2003
Review of Self-Regulatory Organization Decisions7      
Number pending at start of period 16 16 17
New matters added during period 13 15 10
Subtotal 29 31 27
Dispositions:      
Opinions 10 (9)8 11 10
Other dispositions
(e.g., dismissals, remands) 		3 4 1
Total pending at end of period 16 16 16
Opinions:      
Median age at decision (days) 215 240 278
Number decided within guidelines9 6 7 7

 

  4/1/2004 – 9/30/2004 10/1/2003–3/31/2004 4/1/2003– 9/30/2003
Miscellaneous Matters      
Interlocutory Motions:      
Number pending at start of period 0 0 0
Number filed during period 0 1 0
Number decided during period 0 1 0
Total pending at end of period 0 0 0
Median age at decision (days)   1 0
Number decided within 45 days   1 0
Stay Requests:      
Number pending at start of period 0 0 0
Number filed during period 4 6 11
Number decided during period 4 6 11
Total pending at end of period 0 0 0
Median age at decision (days) 6 6 3
Number decided within guidelines10 3 5 11

1 Twelve initial decisions disposed of 10 cases.

2 Includes all proceedings disposed of other than by an initial decision, including default orders that dispose of the entire proceeding.

3 Guideline for matters instituted prior to 7/17/03 is 10 months from institution. Effective 7/17/03, each order instituting proceedings includes a time period (120, 210, or 300 days) for issuance of an initial decision, which may be extended by the Commission.

4 May include review of initial decisions, review of other non-interlocutory ALJ matters, and matters on remand from the Courts of Appeals.

5 Thirteen opinions disposed of 12 cases.

6 Guideline for matters appealed before 7/17/03 is 11 months from filing of appeal. Guideline is 7 months for matters appealed 7/17/03 or later (or 11 months if the Commission determines that a matter presents unusual complicating circumstances).

7 May include matters filed pursuant to Section 11A of the Securities Exchange Act of 1934.

8 Nine opinions disposed of 10 cases.

9 Guideline for matters filed before 7/17/03 is 11 months from filing. Guideline is 7 months for matters filed 7/17/03 or later (or 11 months if the Commission determines that a matter presents unusual complicating circumstances).

10 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/34-50550.htm

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Modified: 10/18/2004