[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR202.4]

[Page 197]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 202--INFORMAL AND OTHER PROCEDURES--Table of Contents
 
Sec. 202.4  Facilitating administrative hearings.

    (a) Applications, declarations, and other requests involving formal 
Commission action after opportunity for hearing are scrutinized by the 
appropriate division for conformance with applicable statutory standards 
and Commission rules and generally the filing party is advised of 
deficiencies. Prior to passing upon applications and declarations the 
Commission receives the views of all interested persons at public 
hearings whenever appropriate; hence, any applicant or declarant seeking 
Commission approval of proposed transactions by a particular time should 
file his application or declaration in time to allow for the 
presentation and consideration of such views.
    (b) After the staff has had an opportunity to study an application 
or declaration, interested persons may informally discuss the problems 
therein raised to the extent that time and the nature of the case permit 
(e.g., consideration is usually given to whether the proceeding is 
contested and if so to the nature of the contest). In such event, the 
staff will, to the extent feasible, advise as to the nature of the 
issues raised by the filing, the necessity for any amendments to the 
documents filed, the type of evidence it believes should be presented at 
the hearing and, in some instances, the nature, form, and contents of 
documents to be submitted as formal exhibits. The staff will, in 
addition, generally advise as to Commission policy in past cases which 
dealt with the same subject matter as the filing under consideration.
    (c) During the course of the hearings, the staff is generally 
available for informal discussions to reconcile bona fide divergent 
views not only between itself and other persons interested in the 
proceedings, but among all interested persons; and, when circumstances 
permit, an attempt is made to narrow, if possible, the issues to be 
considered at the formal hearing.
    (d) In some instances the Commission in the order accompanying its 
findings and opinion reserves jurisdiction over certain matters relating 
to the proceeding, such as payment of fees and expenses, accounting 
entries, terms and conditions relating to securities to be issued, and 
other matters. In such cases, upon receipt of satisfactory information 
and data the Commission considers whether further hearing is required 
before releasing jurisdiction.