U. S. Securities and Exchange Commission

Securities Exchange Act Release No. 42722 / April 26, 2000

Report on Administrative Proceedings
For the Period October 1,1999 through March 31,2000

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

The 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 the decision and the number of matters decided within the guidelines in Rule 900 for the timely completion of adjudicatory proceedings. Finally, the report includes comparison figures from the previous two six-month periods.

Matters Before the
Administrative Law Judges

	10/1/99 - 3/31/00	4/1/99 - 9/30/99	10/1/98 - 3/31/99
Review of ALJ Matters (4)
Number pending at start of period	22	16	24
New matters added during period	9	10	3
Subtotal	31	26	27
Dispositions:
Opinions	3	3	9
Other dispositions (e.g., dismissals)	0	1	2
Total pending at end of period	28	22	16
Opinions:
Median age at decision (days)	593	629	683
Number decided within 11 months	0	0	0

(1) Of this number, all were orders instituting proceedings. The number of orders instituting proceedings issued during this six-month period by month are:
10/99: 0; 11/99: 3; 12/99: 1; 1/00: 0; 2/00: 5; 3/00: 1.

(2) There were 12 Initial Decisions. One Initial Decision did not dispose of the entire case.

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

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

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

(6) Includes a stay request received in prior period but not included in the report covering the prior period.

(7) Guideline is either 5 days or 45 days depending on the effective date of the order requested to be stayed.