To: File No. S7-16-01 and File No. S7-17-01
From: Bonnie Gauch
Date: November 30, 2001

RE: Meeting with the FIA/SIA Joint Steering Committee on Securities Futures Regarding the Proposed Single Stock Future Margin and Customer Protection Rules (Exchange Act Release Nos. 44853 and 44854, respectively)

On November 19, 2001 the Staff attended a meeting at the Washington, DC offices of the Securities Industry Association with the FIA/SIA Joint Steering Committee on Securities Futures and representatives from the Commodity Futures Trading Commission. A list of attendees is attached hereto as Exhibit A.

Various issues were raised and discussed by the attendees regarding the proposed margin rules relating to single stock futures. In addition, the attendees briefly discussed the proposed rules relating to the CFTC and Commission customer protection, segregation, and bankruptcy rules.

Meeting between SEC, CFTC, and the FIA/SIA Joint Steering Committee on Securities Futures

List of Attendees


Dennis Murray JP Morgan Chase
Al Scrivanich Prudential Securities
Barbara Wierzynski FIA
Elizabeth Fox CFTC/OGC
John Mielke CFTC/DEA
John Lawton CFTC/T&M
Larry Patent CFTC/T&M
Phyllis Dietz CFTC/T&M
Mike Macchiaroli` SEC
Elizabeth King SEC
T.R. Lazo SEC
Tom McGowan SEC
Luke Farber Merrill Lynch
Bob Litzenberger Goldman Sachs
Mark Holloway Goldman Sachs
Bonnie Gauch SEC
Tony Leitner Goldman Sachs
Bob Klein Salomon Smith Barney
Georgia Bullitt Morgan Stanley
John P. Davidson Morgan Stanley
Jonathan Barton Morgan Stanley
Ed Rosen Cleary Gottlieb
Mike Alix Bear Stearns
Eileen Flaherty (via conference call) Aubrey Lanston
Peter Auwarter (via conference call) Goldman Sachs
Jerry Quinn SIA
Scott Kursman (via conference call) SIA
Hong Anh Tran SEC
Onnig Dombalagian SEC
Jennifer Colihan SEC
Lisa Jones SEC
John Fenton CFTC/DEA