Commission, professional organizations and other governmental agencies on personnel matters. He is responsible for the administration of the Regulation Regarding Conduct of Members and Employees and Former Members and Employees, except that with respect to Rule 6 thereof he has joint responsibility with the General Counsel.

§ 200.26 Office of Records and Service.

This Office is under the supervision of the Records and Service Officer, who is responsible to the Chairman for the developments and execution of the Commission's records management and office services programs. He is the official custodian of all documents originated or received by the Commission and he is responsible for the authentication of all documents and for responding to requests for the production of records at administrative or judicial proceedings. He also serves as the Custodial Security Officer responsible for the protection of all security material made or received by the Commission; the Safety Officer responsible for the protection of Commission property and personnel; and the Civil Defense Coordinator responsible for planning for the Commission's functions and relocation under emergency conditions. He serves as the Commission's liaison officer with the General Services Administration, the Government Printing Office, the Joint Committee on Printing, the Office of Emergency Planning and other Federal and local government agencies in matters under his jurisdiction.

§ 200.26a Office of Data Processing.

The Office of Data Processing is responsible for the planning, design, programming, operation and maintenance of all EDP systems for the Commission; furnishing technical advice and assistance to the various divisions and offices in connection with internal EDP operations and the Commission's responsibilities with respect to EDP in the securities industry; and evaluation of new data processing concepts and equipment for possible application to the Commission's operations.

(Sec. 4, 48 Stat. 885; 15 U.S.C. 78d) [33 F.R. 4369, Mar. 9, 1968]

$ 200.27 The Regional Administrators.

Each Regional Administrator is responsible for executing the Commission's programs within his geographic region

as set forth below (except as specified below with regard to matters arising under Chapters X and XI of the Bankruptcy Act), subject to policy direction and review by the Division Directors, the General Counsel and the Chief Accountant. The Regional Administrator's responsibilities include particularly the investigation of transactions in securities on national securities exchanges, in the over-the-counter market, and in distribution to the public; the examination of members of national securities exchanges and registered brokers and dealers, investment advisers and investment companies including the examination of reports filed under § 240.17a-5 of this chapter; the examination and processing of filings under §§ 230.251 to 230.262 of this chapter issued pursuant to section 3(b) of the Securities Act of 1933; the prosecution of injunctive actions in United States District Courts and administrative proceedings before Hearing Examiners; the rendering of assistance to United States Attorneys in criminal cases; and the making of the Commission's facilities more readily available to the public in that region. In addition, the New York Regional Administrator is responsible for the participation in proceedings under Chapters X and XI of the Bankruptcy Act in the New York and Boston Regions, and in the State of Pennsylvania; the Chicago Regional Administrator in Chicago, Fort Worth and Denver Regions, except for the State of Utah; and the San Francisco Regional Administrator in the San Francisco and Seattle Regions, plus the State of Utah.

§ 200.28 Issuance of instructions.

(a) Within the spheres of responsibilities heretofore set forth, Division and Office Heads, and all Regional Administrators may issue such definitive instructions as may be necessary pursuant to this section.

(b) All existing procedures and authorizations not inconsistent with this section shall continue in effect until and unless modified by definitive instructions issued pursuant to this paragraph. § 200.29 Rules.

The individual operating divisions shall have the initial responsibility for proposing amendments to existing rules or new rules under the statutory provisions within the jurisdiction of the particular division. Where any such pro

posals presents a legal problem or is a matter of first impression, or involves a matter of enforcement policy or questions involving statutes other than those administered by the Commission, or may have an effect on prior judicial precedent or pending litigation, submission of the proposal should be be made to the Office of the General Counsel for an expression of opinion prior to presentation of the matter to the Commission.

§ 200.30-1 Delegation of authority to Director of Division of Corporation Finance.

Pursuant to the provisions of Public Law No. 87-592, 76 Stat. 394, the Securities and Exchange Commission hereby delegates, until the Commission orders otherwise, the following functions to the Director of the Division of Corporation Finance, to be performed by him or under his direction by such person or persons as may be designated from time to time by the Chairman of the Commission:

(a) With respect to registration of securities pursuant to the Securities Act of 1933, 15 U.S.C. 77a, et seq., and Regulation C thereunder, § 230.400, et seq. of this chapter:

(1) To determine the effective dates of amendments to registration statements filed pursuant to section 8(c) of the Act, 15 U.S.C. 77b(c);

(2) To consent to the withdrawal of registration statements or amendments or exhibits thereto, pursuant to Rule 477, § 230.477 of this chapter:

(3) To grant applications for confidential treatment of contract provisions pursuant to Rule 485 under the Act; to issue orders scheduling hearings on such applications; and to deny any such appliIcation as to which the applicant waives his right to a hearing, provided such applicant is advised of his right to have such denial reviewed by the Commission.

(4) To accelerate the use or publication of any summary prospectus filed with the Commission pursuant to section 10(b) of the Act, 15 U.S.C. 77j (b), and Rule 434A(g) thereunder, § 230.434a (g) of this chapter:

(5) To take the following action pursuant to section 8(a) of the Act:

(i) To determine registration statements to be effective within shorter periods of time than twenty days after the filing thereof;

(ii) To consent to the filing of amendments prior to the effective dates of registration statements as parts thereof,

or to determine that amendments filed prior to the effective dates of registration statements have been filed pursuant to orders of the Commission, so as to be treated as parts of the registration statements for the purpose of section 8(a) of the Act;

(iii) To determine to be effective applications for qualification of trust indentures filed with registration statements.

(6) Pursuant to instructions as to financial statements contained in forms adopted under the Act:

(i) To permit the omission of one or more financial statements therein required or the filing in substitution therefor of appropriate statements of comparable character, or

(ii) To require the filing of other financial statements in addition to, or in substitution for, the statements therein required.

(7) Acting pursuant to section 4(3) of the Act or § 230.174 of this chapter, to reduce the 40-day period or the 90-day period with respect to transactions referred to in section 4(3)(B) of the Act (15 U.S.C. 77 (d) (3) (B)).

(b) (1) To designate officers empowered to administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, or other documents in the course of any examination or investigation instituted by the Commission pursuant to section 19(b) of the Securities Act of 1933, 15 U.S.C. 77s(b), and section 21(b) of the Securities Exchange Act of 1934, 15 U.S.C. 78u (b), and section 8(e) of the Securities Act of 1933, 15 U.S.C. 77h(e);

(2) In nonpublic investigatory proceedings within the responsibility of the director, to grant requests of persons to procure copies of the transcripts of their testimony given pursuant to Rule 6 of the Commission's rules relating to investigations as in effect prior to November 27, 1970 (§ 203.6 of this chapter).

(c) With respect to the Securities Act of 1933, 15 U.S.C. 77a et seq. and Regulation B thereunder, § 230.300 et seq. of this chapter.

(1) To authorize the issuance of orders temporarily suspending the effectiveness of offering sheets in the manner prescribed in Rule 340(a) thereunder, § 230.340 (a) of this chapter;

(2) To issue notices of suspension of offering sheets and of opportunity for

hearing thereon, in the manner prescribed in Rule 340 (a), § 230.340(a) of this chapter;

(3) To terminate temporary suspension orders issued by the Commission under Rule 340 (a), § 230.340 (a) of this chapter, and proceedings under Rule 340 (b), § 230.340 (b) of this chapter, prior to taking any evidence at any such hearing thereon when, as set forth in Rule 340 (c), § 230.340 (c) of this chapter, it appears that the offering sheet has been amended to cure the objections specified in the temporary suspension order or the notice instituting the proceeding;

(4) To authorize the issuance of orders granting requests for withdrawal of offering sheets, pursuant to Rule 350, § 230.350 of this chapter, when it appears that no sales of the securities described in said offering sheets have, in fact, been made;

(5) To authorize the issuance of orders declaring effective amendments to offering sheets filed in accordance with the provisions in Rule 352, § 230.352 of this chapter, and Rule 354, § 230.354 of this chapter;

(6) To authorize the issuance of orders terminating the effectiveness of offering sheets upon applications of persons filing them in compliance with the provisions of Rule 356, § 230.356 of this chapter.

(d) With respect to the Trust Indenture Act of 1939, 15 U.S.C. 77aaa et seq.:

(1) To determine to be effective prior to the twentieth day after filing thereof applications for qualification of indentures filed on Form T-3 pursuant to section 307 of the Act, 15 U.S.C. 77ggg, and Rule 7a-1 thereunder, § 260.7a-1 of this chapter:

(2) To authorize the issuance of orders exempting certain securities from the provisions of the Act pursuant to sections 304 (c) and (d) thereof, 15 U.S.C. 77ddd (c) and (d) and Rule 4(c)-1 thereunder, § 260.4c-1 of this chapter;

(3) In cases in which opportunity for hearing is waived, to authorize the issuance of orders determining that a trusteeship under an indenture to be qualified and another indenture is not so likely to involve a material conflict of interest as to make it necessary to disqualify the trustee pursuant to section 310(b) (1) (ii) of the Act, 15 U.S.C. 77jjj (b) (1) (ii) and Rule 10b-2 thereunder, § 260.10b-2 of this chapter.

(e) With respect to the Securities Exchange Act of 1934, 15 U.S.C. 78a, et seq.:

(1) To determine to be effective applications for registration of securities on a national securities exchange prior to thirty days after receipt of a certification pursuant to section 12(d) of the Act, 15 U.S.C. 781(d):

(2) Pursuant to instructions as to filnancial statements contained in forms adopted under the Act:

(i) To permit the omission of one or more financial statements therein required or the filing in substitution therefor of appropriate statements of comparable character;

(ii) To require the filing of other financial statements in addition to, or in substitution for, the statements therein required.

(3) (i) To grant applications for confidential treatment of contract provisions under section 24(b) of the Act and Rule 24b-2 thereunder, § 240.24b-2 of this chapter;

(ii) To accord confidential treatment to material other than contract provisions filed pursuant to section 24b-2 thereunder, § 240.24b-2 of this chapter, but only when the Commission has previously by order granted confidential treatment to the same information;

(iii) To schedule hearings on applications pursuant to section 24(b) of the Act and Rule 24b-2 thereunder; and to deny any such application as to which the applicant waives his right to a hearing, provided such applicant is advised of his right to have such denial reviewed by the Commission.

(4) To authorize the use of forms of proxies, proxy statements or other soliciting material within periods of time less than that prescribed in Rule 14a-6, § 240.14a-6 of this chapter, Rule 14a-8 (d), § 240.14a-8(d) of this chapter and Rule 14a-11, § 240.14a-11 of this chapter:

(5) To deny applications filed pursuant to Rule 12b-25 for extensions of time within which to file information, documents or reports, provided the applicant is advised of his right to have such denial reviewed by the Commission.

(6) To accelerate at the request of the issuer the effective date of registration statements filed pursuant to section 12(g) of the Act:

(7) To issue notices of applications for exemptions under section 12 (h) of the Act.

(8) At the request of the issuer, to accelerate the termination of registration of any class of equity securities, as

provided in section 12(g) (4) of the Act (15 U.S.C. 781(g) (4)).

(f) Notwithstanding anything in the foregoing:

(1) Matters arising under the Investment Company Act of 1940, the Securities Act of 1933, the Securities Exchange Act of 1934 and the Trust Indenture Act of 1939 pertaining to investment companies registered under the Investment Company Act of 1940 are not within the scope of the functions delegated to the Director of the Division of Corporation Finance;

(2) The Director of the Division of Corporation Finance shall have the same authority with respect to the Securities Act of 1933, 15 U.S.C. 77a et seq., Regulation A, 17 CFR 230.251 et seq. and Regulation F, 17 CFR 230.651 et seq., as that delegated to each Regional Administrator in paragraphs (a), (b), and (d) of § 200.30-4.

(3) In any case in which the Director of the Division of Corporation Finance believes it appropriate, he may submit the matter to the Commission.

(Secs. 1, 2, 76 Stat. 394, 395; 15 U.S.C. 78d-1, 78d-2) [29 F.R. 15283, Nov. 14, 1964, as amended at 29 F.R. 16187, Dec. 3, 1964; 31 F.R. 6588, May 3, 1966; 33 F.R. 7625, May 23, 1968; 34 F.R. 2502, Feb. 21, 1969; 34 F.R. 19652, Dec. 13, 1969; 35 F.R. 18194, Nov. 28, 1970]

§ 200.30-2 Delegation of authority to Director of Division of Corporate Regulation.

Pursuant to the provisions of Public Law No. 87-592, 76 Stat. 394, the Securities and Exchange Commission hereby delegates, until the Commission orders otherwise, the following functions to the Director of the Division of Corporate Regulation, to be performed by him or under his direction by such person or persons as may be designated from time to time by the Chairman of the Commission:

(a) With respect to the Public Utility Holding Company Act of 1935, 15 U.S.C. 79a, et seq.:

(1) To issue notices with respect to applications or declarations under the following sections of the Act and the rules and regulations promulgated thereunder where, upon examination, the application or declaration does not appear to him to present issues not previously settled by the Commission or to raise questions of fact or policy indicating that the public interest or the interest of in

vestors or consumers requires that a hearing be held:

(i) Section 2(a) (3), 15 U.S.C. 79b (a) (3);

(ii) Section 2(a) (4), 15 U.S.C. 79b(a) (4);

(iii) Section 2(a) (7), 15 U.S.C. 79b (a) (7);

(iv) Section 2(a) (8), 15 U.S.C. 79b(a) (8);

(v) Section 3(a), 15 U.S.C. 79c(a); (vi) Section 3(b), 15 U.S.C. 79c(b); (vii) Section 5(d), 15 U.S.C. 79e (d); (viii) Section 6(b), 15 U.S.C. 79f(b); (ix) Section 7, 15 U.S.C. 79g;

(x) Section 9(c) (3), 15 U.S.C. 791(c) (3);

(xi) Section 10, 15 U.S.C. 79j;

(xii) Section 12(b), 15 U.S.C. 791(b); (xiii) Section 12(c), 15 U.S.C. 791(c) ; (xiy) Section 12(d), 15 U.S.C. 791(d); (xv) Section 12(e), 15 U.S.C. 791(e); (xvi) Section 12(f), 15 U.S.C. 791(f); (xvii) Section 12(g), 15 U.S.C. 791(g); (xviii) Section 13(b), 15 U.S.C. 79m (b);

(xix) Section 13(c), 15 U.S.C. 79m (c); (xx) Section 13(d), 15 U.S.C. 79m (d); (xxi) Section 13 (e), 15 U.S.C. 79m (e);

(xxii) Section 13(f), 15 U.S.C. 79m (f).

(2) To authorize the issuance of orders where a notice has been issued and no request for a hearing has been received from any interested person within the period specified in the notice and the matter involved presents no issue that he believes has not previously been settled by the Commission and it does not appear to him to be necessary in the public interest or the interest of investors or consumers that a hearing be held; section 20(c), 15 U.S.C. 79t(c);

(3) To permit the withdrawal of applications or declarations filed pursuant to the Act, 15 U.S.C. 79a, et seq.;

(4) Upon a showing of good cause that it would not be contrary to the public interest or inconsistent with the protection of investors or consumers, to grant, reasonable extensions of time with respect to the time for the filing with the Commission of registration statements and of reports pursuant to section 20(a), 15 U.S.C. 79t(a), and Rules 1(b), 1(c), 2, 24 and 29; §§ 250.1(b), 250.1(c), 250.2, 250.24 and 250.29 of this chapter;

(5) To issue notices and grant applications by a holding company or any subsidiary company thereof, under sec

tion 3(c) of the Act, for revocation of previously granted exemptions from registration, unless, upon examination, the application appears to him to present issues not previously settled by the Commission or to raise questions of fact or policy indicating that the public interest or the interest of investors or consumers requires that a hearing be held;

(6) To permit the filing of preliminary registration statements pursuant to section 5(c) of the Act;

(7) To authorize the destruction of records pursuant to the provisions of General Instruction 3(c) of the Uniform System of Accounts for public utility holding companies, § 257.0-3 (c) of this chapter.

(8) To authorize the discontinuance of reporting of information otherwise required to be reported under sections 5(b), 13(c), 13(e), 13(f), 14, and 20 (a) of the Act;

(9) To grant extensions of time for filing registration statements and reports pursuant to sections 5(b), 13(c), 13(e), 13(f), 14, and 20(a) of the Act.

(b) With respect to the Investment Company Act of 1940, 15 U.S.C. 80a-1, et seq.:

(1) To issue notices, pursuant to Rule 0-5(a), § 270.0-5(a) of this chapter, with respect to applications for orders under the following sections of the Act and the rules and regulations promulgated thereunder where, upon examination, the application does not appear to him to present issues not previously settled by the Commission or to raise questions of fact or policy indicating that the public interest or the interest of investors requires that a hearing be held:

(i) Section 6(b), 15 U.S.C. 80a-6(b); (ii) Section 6(c), 15 U.S.C. 80a-6(c); (iii) Section 6(d), 15 U.S.C. 80a-6(d); (iv) Section 6(e), 15 U.S.C. 80a-6(e); (v) Section 7(d), 15 U.S.C. 80a-7(d); (vi) Section 8(f), 15 U.S.C. 80a-8(f); (vii) Section 10(e), 15 U.S.C. 80a10(e);

(viii) Section 10(f), 15 U.S.C. 80a10(f);

(ix) Section 11(a), 15 U.S.C. 80a11(a);

(x) Section 12(g), 15 U.S.C. 80a12(g);

(xi) Section 16(a), 15 U.S.C. 80a16(a);

(xii) Section 17(b), 15 U.S.C. 80a17(b);

(xiii) Section 17(d), 15 U.S.C. 80a17(d);

(xiv) Section 17(e), 15 U.S.C. 80817(e);

(xv) Section 17(f), 15 U.S.C. 80a17(f);

(xvi) Section 17(g), 15 U.S.C. 80a17(g);

(xvii) Section 18(j), 15 U.S.C. 80a18(j);

(xviii) Section 23(b), 15 U.S.C. 80a23(b);

(xix) Section 23(c), 15 U.S.C. 80a23(c);

(xx) Section 28(c), 15 U.S.C. 80a28 (c);

(xxi) Section 31(d), 15 U.S.C. 80a30(d);

(xxii) Section 32(c), 15 U.S.C. 80a31(c);

(xxiii) Section 45(a), 15 U.S.C. 80a44(a).

(xxiv) Section 3(b) (2), 15 U.S.C. 80a3(b) (2).

(2) To authorize the issuance of orders where a notice, pursuant to Rule 0-5(a), § 270.0-5(a) of this chapter, has been issued and no request for a hearing has been received from any interested person within the period specified in the notice and the matter involved presents no issue that he believes has not previously been settled by the Commission and it does not appear to him to be necessary in the public interest or the interest of investors that a hearing be held; section 40(a), 15 U.S.C. 30a-39 (a);

(3) To permit the withdrawal of applications pursuant to the Act, 15 U.S.C. 80a-1, et seq.;

(4) In connection with the mailing of reports to stockholders and the filing with the Commission of registration statements and of reports: (i) To grant reasonable extensions of time, upon a showing of good cause and that it would not be contrary to the public interest or inconsistent with the protection of investors; and (ii) to deny requests for extension of time, provided the applicant is advised that he can request Commission review of any such denial.

(5) To permit, pursuant to Rule 20a-2(a) (9), § 270.20a-2(a) (9) of this chapter, the omission from a proxy statement of a registered investment company of the certification of the balance sheet of the investment adviser of such investment company and, if the investment adviser is primarily engaged in a business other than the underwriting or distribution of investment company securities or the performance of