FOR IMMEDIATE RELEASE                                  99-18

 SEC Posts Securities Industry Y2K Readiness Information 
                               on Web
                              
 Searchable database includes Year 2000 reports from broker-
  dealers, transfer agents, investment advisers, and 
                          mutual funds
                              
                              
          Washington, D.C., February 16, 1999 -- The Securities 
and Exchange Commission has posted a searchable database 
on the SEC Web site that gives investors instant access 
to the Y2K readiness reports that certain broker-dealers, 
transfer agents, investment advisers, and mutual funds are 
required to file with the SEC.

     The database to date includes more than 13,000 reports
that describe their

*    state of Y2K readiness
*    costs to address the Y2K problem
*    Y2K risks
*    contingency plans

     The Commission views the Year 2000 problem as a serious
issue that, if not addressed, could disrupt the proper
functioning of many of the world's computer systems.  To
prevent disruptions, companies need to examine their
computers and programs, fix the problem, test their systems,
test interactions with other organizations, and certify
their computer systems as Y2K compliant before January 
1, 2000.

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