(The news featured below is a selection from the news covered in Federal Securities Law Reporter, which is distributed to subscribers of Federal Securities Law Reporter.)

SEC Reopens Comment Period on Broker Disclosure Rule

The SEC reopened the comment on proposed rule changes (2003-04 CCH Dec. para 87,135) designed to enhance the information broker-dealers provide to their customers in connection with transactions in certain types of securities. The rules would require broker-dealers to provide their customers with targeted information, at the point of sale and in transaction confirmations, regarding the costs and conflicts of interest that arise from the distribution of mutual fund shares, unit investment trust interests and municipal fund securities used for education savings. The original comment period closed April 12, 2004. Comments are now due to the SEC by April 5, 2005.

Release Nos. 33-8544 is reported at ¶87,334 .