Study and Report on Protections for Senior Citizens and Qualified Retirement Plans

The Private Securities Litigation Reform Act of 1995 directs the Securities and Exchange Commission (the "Commission') to determine whether investors that are senior citizens or qualified retirement plans require greater protection against securities fraud than is currently provided under the federal securities laws; and whether investors that are senior citizens or qualified retirement plans have been adversely impacted by abusive or unnecessary securities fraud litigation, and whether the current provisions of the federal securities laws are sufficient to protect them from such litigation. The Commission is soliciting comment on these questions and on the more general question of the role of senior citizens and qualified retirement plans in our securities markets.