2000 - 1 Money under matress or in the computer systems? Message Board

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Technology Stocks : 2000 - 1 Money under matress or in the computer systems?

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To: Walter Morton who wrote ()	10/20/1998 3:07:00 PM
From: Walter Morton	of 6

SEC charges firms over Y2K readiness WASHINGTON - The Securities and Exchange Commission has charged 37 brokerage firms with failing to fully report on their computer systems' preparedness for conversion to the year 2000. The firms are relatively small and not widely known Wall Street names, but the cases mark the first time regulators have taken enforcement actions related to the year 2000 disclosure requirement. Brokerage firms were required to file a year 2000 disclosure form with the SEC by Aug. 31. Nineteen of the 37 firms charged have agreed to settlement offers, consisting of a cease and desist order, a censure, and civil penalty ranging from $5,000 to $25,000. USA Today It seems that the SEC does not want you to put your money under your matress.

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