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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Investor-ex! who wrote (3235)	1/11/1999 11:22:00 AM
From: C.K. Houston	Read Replies (1) \| Respond to of 9818

SEC charges nine transfer agents with inadequate Year 2000 disclosure Federal securities regulators, extending their Year 2000 crackdown, have charged nine stock-transfer agents with allegedly failing to adequately disclose their computer readiness for the millennial year... Transfer agents, which sometimes are banks or trust companies, are responsible or keeping records of shareholders of corporations and for issuing or canceling stock certificates when shares are bought and sold... The SEC said failure of transfer agents to anticipate and fix Year 2000 computer problems could "seriously disrupt" corporations' dividend payments and other transactions with their shareholders... In October, the SEC took the government's fist major enforcement action related to the Year 2000 problem, charging 37 small brokerage firms with failing to fully report on their computer systems' preparedness... bostonherald.com *CHECK THIS OUT: Two of these agents "agreed to be censured and to refrain from future violations but not to pay a fine because they demonstrated they didn't have the money."* If they don't have $7,500 to pay the civil fine, what are the chances of these companies ever being Y2K compliant???? Cheryl