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Technology Stocks : Discuss Year 2000 Issues
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To: John Mansfield who wrote (1509)5/1/1998 10:28:00 AM
From: C.K. Houston  Read Replies (2) of 9818
 
GAO: SEC YEAR 2000 REPORT - March '98
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Excerpts

Although it provided an overview of status of its own and securities industry participants' efforts to address the Year 2000 problem, the report did not identify those systems that might be critical to the continued functioning of the U.S. securities markets.

Furthermore, it did not provide sufficient information about the timing and status of efforts by SROs, broker-dealers, investment companies, and other market participants to address their systems.

In addition, it did not discuss what efforts will be made to address systems or organizations that have fallen behind schedule or what contingency planning is occurring to address systems that will not be ready in time.....

SEC stated that it is not feasible to provide all the information required by OMB for the mission critical and non-mission-critical systems of every regulated entity in the securities industry because of the size of the industry, limited SEC resources, and the SEC's sharing of oversight authority.

GAO/GGD/AIMD-98-51, March 6 (20 pages)
gao.gov
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This is part of the reason I'll be TOTALLY out of the market by mid-1999

Cheryl
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