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ARTICLE · 11 DECEMBER 1997

New York Stock Exchange Seeks Delay In Decimal Switch Due To Year 2000 Problem

Hancock Rothert & Bunshoft
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United StatesAccounting and Audit

The AP reported on October 20 that SEC Chairman Arthur Levitt Jr. and the head of the National Association of Securities Dealers, Frank Zarb, have joined to ask lawmakers to delay implementation of the switch from fractions to decimals in the reporting of stock prices. The House Commerce Committee was advised that the switch to a decimal based trading system could interfere with the street's Year 2000 remediation program.

Hancock Rothert & Bunshoft has formed a Year 2000 Team to assist companies with related legal problems.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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