INSTITUTE ASKS FOR IMMEDIATE NOTIFICATION OF TREASURY REQUESTS FOR LARGE POSITION REPORTS

1 Memorandum to Investment Advisers Members No. 34-96, Memorandum to SEC Rules Members No. 52-96, dated September 16, 1996. September 25, 1996 TO: INVESTMENT ADVISERS COMMITTEE No. 23-96 SEC RULES COMMITTEE No. 104-96 RE: INSTITUTE ASKS FOR IMMEDIATE NOTIFICATION OF TREASURY REQUESTS FOR LARGE POSITION REPORTS ______________________________________________________________________________ As we previously informed you, the Department of the Treasury recently issued final rules that establish reporting and recordkeeping requirements related to large positions in certain Treasury securities.1 The rules generally require any reporting entity with holdings of a particular issue of Treasury securities to report that position, as requested by the Treasury. The rules require the Treasury to provide notice of such a request by issuing a press release and subsequently publishing the notice in the Federal Register. In addition, in the release adopting the rules, the Treasury stated that it would provide any industry association that so requests with a copy of the Treasury
s press release requesting large position information. In the attached letter, we have requested the Treasury to provide the Institute with a facsimile copy of the notice at the time it is issued. This notification will allow us to promptly alert members to possible reporting obligations. Dorothy M. Donohue Assistant Counsel Attachment