FOR IMMEDIATE RELEASE                               98-16


        SEC TO CONSIDER FOUR ITEMS AT AN OPEN MEETING


     Washington, D.C., February 9, 1998 -- The Securities and
Exchange Commission will consider four items at an open meeting
conducted under the Government in the Sunshine Act on February
10, at 10:00 a.m.  The meeting will be held in Room 1C30, at the
Commission's headquarters building, 450 Fifth Street, N.W.,
Washington, D.C.  The items for discussion are

          -    oral argument on an appeal by L. C. Wegard & Co.,
          Inc., a registered broker-dealer, and Leonard B. Greer,
          the firm's president, from an administrative law
          judge's initial decision,

          -    whether to issue a release adopting amendments to
          Regulation S.  The amendments are designed to stop
          abusive practices in connection with offerings of
          equity securities purportedly made in reliance on
          Regulation S,

          -    whether to propose amendments to Rules 15c2-11 and
          17a-4 under the Securities Exchange Act of 1934.  The
          proposed amendments to Rule 15c2-11 would require all
          broker-dealers to (a) obtain and review enhanced
          information about the issuer when they first publish or
          resume publishing a quotation for a covered security,
          (b) document that review, (c) update the issuer
          information annually if they publish priced quotations,
          and (d) make the information available to other persons
          upon request.  The proposed admendment to Rule 17a-4
          would incorporate the record retention requirements
          currently contained in Rule 15c-11, and

          -    whether to propose amendments to Securities Act
          Form S-8, the streamlined form companies use to register
          sales of securities to their employees.  The amendments
          would (a) restrict the use of the form for the sale of
          securities to consultants and advisors, and (b) allow
          the use of the form for the exercise of stock options
          by family members of employee optionees.  The
          Commission also will consider proposing a corresponding
          amendment to Form S-3, as well as amendments to the
          executive compensation disclosure requirements, to
          clarify reporting of transferred options.  The purposes
          of the proposed changes are to eliminate the abuse of
          Form S-8 to register securities issued to consultants
          for capital-raising purposes, and to facilitate
          legitimate employee estate planning transactions and
          other intra-family transfers.


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Any member of the public who requires auxiliary aids such as a
sign language interpreter or material on tape to attend a public
meeting  should contact Rochelle Franks, Office of Administrative
and Personnel Management, to make arrangements.  Ms. Franks can
be reached at TTY number (202) 942-9558.  If you are calling from
a  non-TTY number, please call the Relay Service at
1-800-877-8339.