U. S. Securities and Exchange Commission

Securities Exchange Act of 1934
Release No. 49635 / April 30, 2004

Report on Administrative Proceedings for the Period October 1, 2003 through March 31, 2004

Rule 900 of the Commission's Rules of Practice (17 CFR 201.900) requires the Commission's Secretary to issue each October and April a status report on the Commission's administrative proceedings caseload.

The attached report identifies the number of matters pending before the administrative law judges and the Commission at the beginning of the six-month period; the number of matters instituted, filed, and disposed of during the period; and the number pending at the end of the period. For each category of decision, the report shows the median age of the matters at the time of decision and the number of matters decided within the guidelines in Rule 900 for the timely completion of adjudicatory proceedings or within the time specified in orders instituting proceedings for issuance of an initial decision, or any extension granted by the Commission. Finally, the report includes data from the previous two six-month periods.

Matters Before the Administrative Law Judges

Matters Before the Commission

Matters Before the Commission

Endnotes

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¹ Two initial decisions did not address all Respondents charged in the orders instituting proceedings, and thus did not entirely dispose of the cases.

² Includes all proceedings disposed of other than by an initial decision, including default orders that dispose of the entire proceeding.

³ Guideline for matters instituted prior to 7/17/03 is 10 months from institution. Beginning 7/17/03, each order instituting proceedings includes a time period (120, 210, or 300 days) for issuance of an initial decision, which may be extended by the Commission.

⁴ May include review of initial decisions, review of other non-interlocutory ALJ matters, and matters on remand from the Courts of Appeals.

⁵ Two opinions as to different Respondents were issued in one case; 12 cases were disposed of by 13 opinions.

⁶ Guideline for matters appealed before 7/17/03 is 11 months from filing of appeal. Guideline is 7 months for matters appealed 7/17/03 or later (or 11 months if the Commission determines that a matter presents unusual complicating circumstances).

⁷ May include matters filed pursuant to Section 11A of the Securities Exchange Act of 1934.

⁸ Guideline for matters filed before 7/17/03 is 11 months from filing. Guideline is 7 months for matters filed 7/17/03 or later (or 11 months if the Commission determines that a matter presents unusual complicating circumstances).

⁹ Guideline is either five days or 45 days depending on the effective date of the order requested to be stayed.

http://www.sec.gov/litigation/admin/34-49635.htm