=========================================START OF PAGE 1====== SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 200 [Release No. 34-37159] Delegation of Authority to Director of Division of Enforcement. AGENCY: Securities and Exchange Commission. ACTION: Final rule. SUMMARY: The Commission is amending its rules to delegate authority to the Director of the Division of Enforcement to authorize staff to appear in federal bankruptcy court where the debtor is involved with the subject matter of a Commission investigation, and to take necessary action therein to preserve potential Commission claims. This amendment will expedite and enhance the effectiveness of the enforcement process by enabling staff to meet bankruptcy court deadlines that affect potential Commission claims and to preserve and protect such claims. EFFECTIVE DATE: [Insert date of publication in the Federal Register] FOR FURTHER INFORMATION CONTACT: Judith R. Starr, Division Bankruptcy Counsel, Division of Enforcement, 202/942-4868. SUPPLEMENTARY INFORMATION: The Securities and Exchange Commission today announced amendments to its rules governing delegation of authority to the Division of Enforcement ("Division"). The amendment to Rule 30-4 -[1]- authorizes the Director of Division of Enforcement to approve staff appearances in federal bankruptcy court where the debtor is involved with the subject matter of a Commission investigation. This delegation will expedite and enhance the effectiveness of the enforcement process by enabling prompt action to protect and preserve potential claims. Notwithstanding this delegation of authority, in instances where contemplated action in a bankruptcy case raises any close or controversial issues, the Division may consult with the Commission before the action is filed in federal court. ---------FOOTNOTES---------- -[1]- 17 CFR 200.30-4. The Commission finds, in accordance with Section 553(b)(3)(A) of the Administrative Procedure Act, -[2]- that this amendment relates solely to agency organization, procedure, or practice, and does not relate to a substantive rule. Accordingly, notice and opportunity for public comment are unnecessary, and publication of the amendment 30 days before its effective date is also unnecessary. --------FOOTNOTES---------- -[2]- 5 U.S.C. 553(b)(3)(A). ==========================================START OF PAGE 3====== List of Subjects in 17 CFR Part 200 Administrative practice and procedure, Authority delegations (Government agencies). Text of Amendment For the reasons set out in the preamble, Title 17, Chapter II of the Code of Federal Regulations is amended as follows: Part 200 -- ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND REQUESTS 1. The authority citation for Part 200 continues to read in part as follows: Authority: 15 U.S.C. 77s, 78d-1, 78d-2, 78w, 78ll(d), 79t, 77sss, 80a-37, 80b-11, unless otherwise noted. * * * * * 2. Section 200.30-4 is amended by adding paragraph (a)(11) to read as follows: 200.30-4 Delegation of authority to Director of Division of Enforcement. * * * * * (a) * * * (11) To authorize staff to appear in federal bankruptcy court to preserve Commission claims in connection with investigations pursuant to section 19(b) of the Securities Act of 1933 (15 U.S.c. 77s(b)), section 21(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78u(b)), section 18(c) of the Public Utility Holding Company Act of 1935 (15 U.S.C. 79r(c)), section 42(b) of the Investment Company Act of 1940 (15 U.S.C. 80a-41(b)) and section 209(b) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-9(b)). * * * * * By the Commission. Jonathan G. Katz Secretary Date: 5/2/96 ==========================================START OF PAGE 4======