The Board is composed of three benefit year, but who are ready and members appointed by the President willing to work, and to individuals who with the advice and consent of the are unable to work because of sickness Senate-one upon recommendations of or injury. representatives of employees; one upon recommendations of carriers; and one, The Board maintains, through its field the Chairman, as a public member. offices, a placement service for unemployed railroad personnel. Activities Sources of Information The Railroad Retirement Act provides for the payment of annuities to individuals Benefit Inquiries The Board maintains who have completed at least 10 years of direct contact with railroad employees creditable railroad service, or 5 years if and railroad retirement beneficiaries performed after 1995, and have ceased through its field offices located across compensated service upon their the country. Field personnel explain attainment of specified ages, or at any benefit rights and responsibilities on an age if permanently disabled for all individual basis, assist employees employment. In some circumstances applying for benefits, and answer occupational disability annuities or questions related to the benefit supplemental annuities are provided for programs. career employees. A spouse's annuity is provided, under To locate the nearest field office, certain conditions, for the wife or individuals should check with their rail husband of an employee annuitant. employer, local union official, local post Divorced spouses may also qualify. office, or one of the regional offices Survivor annuities are awarded to the listed below. Information may also be qualified spouses, children, and parents obtained by calling the Board's help line of deceased career employees, and at 800-808–0772, or from the Board's various lump-sum benefits are also Web site at www.rrb.gov. Most offices available under certain conditions. are open to the public from 9 a.m. to Benefits based upon qualifying 3:30 p.m., Monday through Friday. The railroad earnings in a preceding 1-year Board also relies on railroad labor period are provided under the Railroad groups and employers for assistance in Unemployment Insurance Act to keeping railroad personnel informed individuals who are unemployed in a about its benefit programs. Regional Offices—Railroad Retirement Board obtained from the Board's field offices or Telecommunications Devices for the Chicago headquarters. Requests for Deaf (TDD) The Board provides TDD annual reports or statistical data should services. Phone, 312-751-4701 for be directed to the Office of Public Affairs beneficiary inquiries or 312–751-4334 at the Chicago headquarters. Phone, for equal opportunity inquiries. 312–751-4777. Fax, 312-751-7154. Email, opa@rrb.gov. For further information, contact the Office of Public Affairs, Railroad Retirement Board, 844 North Rush Street, Chicago, IL 60611-2092. Phone, 312-751-4777. E-mail, opa@rrb.gov. Internet, www.rrb.gov. SECURITIES AND EXCHANGE COMMISSION Chairman WILLIAM H. DONALDSON CYNTHIA GLASSMAN, HARVEY GOLDSCHMID LAURA Cox JONATHAN G. KATZ MARGARET J. CARPENTER Managing Executive for Policy and Staff Management Director, Office of Legislative Affairs Assistance Human Resources and Administrative Services Financial Management Filings and Information Services Examinations Information Technology KENNETH A. FOGASH GIOVANNI P. PREZIOSO DONALD T. NICOLAISEN ETHIOPIS TAFARA Director, Office of Equal Employment DEBORAH K. BALDUCCHI WALTER J. STACHNIK [For the Securities and Exchange Commission statement of organization, see the Code of Federal Regulations, Title 17, Part 200) The Securities and Exchange Commission administers Federal securities laws that seek to provide protection for investors; to ensure that securities markets are fair and honest; and, when necessary, to provide the means to enforce securities laws through sanctions. The Securities and Exchange Regulation of Companies Controlling Commission (SEC) was created under Utilities The Commission regulates the authority of the Securities Exchange Act purchase and sale of securities and of 1934 (15 U.S.C. 780–78jj) and was assets by companies in electric and gas organized on July 2, 1934. The utility holding company systems, their Commission serves as adviser to United intrasystem transactions and service, and States district courts in connection with management arrangements. It limits reorganization proceedings for debtor holding companies to a single corporations in which there is a coordinated utility system and requires substantial public interest. The simplification of complex corporate and Commission also has certain capital structures and elimination of responsibilities under section 15 of the unfair distribution of voting power Bretton Woods Agreements Act of 1945 among holders of system securities. (22 U.S.C. 286k-1) and section 851(e) of The purchase and sale of utility the Internal Revenue Code of 1954 (26 properties and other assets may not be U.S.C. 851(e)). made in contravention of rules, The Commission is vested with quasi regulations, or orders of the Commission judicial functions. Persons aggrieved by regarding the consideration to be its decisions in the exercise of those received, maintenance of competitive functions have a right of review by the conditions, fees and commissions, United States courts of appeals. accounts, disclosure of interest, and similar matters. In passing upon Activities proposals for reorganization, merger, or consolidation, the Commission must be Full and Fair Disclosure The Securities satisfied that the objectives of the act Act of 1933 (15 U.S.C. 77a) requires generally are complied with and that the issuers of securities and their controlling terms of the proposal are fair and persons making public offerings of equitable to all classes of securities securities in interstate commerce or holders affected. through the mails to file with the Regulation of Investment Advisers Commission registration statements Persons who, for compensation, engage containing financial and other pertinent in the business of advising others with data about the issuer and the securities respect to securities must register with being offered. There are limited the Commission. The Commission is exemptions, such as government authorized to define what practices are securities, nonpublic offerings, and considered fraudulent or deceptive and intrastate offerings, as well as certain to prescribe means to prevent those offerings not exceeding $1.5 million. The practices. effectiveness of a registration statement Regulation of Mutual Funds and Other may be refused or suspended after a Investment Companies The public hearing if the statement contains Commission registers investment material misstatements or omissions, thus companies and regulates their activities barring sale of the securities until it is to protect investors. The regulation appropriately amended. covers sales load, management contracts, composition of boards of functions of the Commission are to directors, and capital structure. The protect the interests of public investors Commission must also determine the involved in such cases through efforts to fairness of various transactions of ensure their adequate representation, investment companies before these and to participate in legal and policy actually occur. issues that are of concern to public The Commission may institute-court investors generally. action to enjoin the consummation of Representation of Debt Securities mergers and other plans of Holders The Commission safeguards the reorganization of investment companies interests of purchasers of publicly offered if such plans are unfair to securities debt securities issued pursuant to trust holders. It also may impose sanctions by ' indentures. administrative proceedings against Enforcement Activities. The investment company management for Commission's enforcement activities are violations of the act and other Federal designed to secure compliance with the. securities laws and file court actions to Federal securities laws administered by enjoin acts and practices of management the Commission and the rules and officials involving breaches of fiduciary regulations adopted thereunder. These duty and personal misconduct and to activities include measures to do the disqualify such officials from office. following: Regulation of Securities Markets The -compel compliance with the Securities Exchange Act of 1934 assigns disclosure requirements of the to the Commission broad regulatory registration and other provisions of the responsibilities over the securities relevant acts; markets, the self-regulatory organizations -prevent fraud and deception in the within the securities industry, and purchase and sale of securities; persons conducting a business in -obtain court orders enjoining acts securities. Persons who execute and practices that operate as a fraud transactions in securities generally are upon investors or otherwise violate the required to register with the Commission laws; as broker-dealers. Securities exchanges --suspend or revoke the registrations and certain clearing agencies are of brokers, dealers, investment required to register with the companies, and investment advisers who Commission, and associations of brokers willfully engage in such acts and or dealers are permitted to register with practices; the Commission. The act also provides -suspend or bar from association for the establishment of the Municipal persons associated with brokers, dealers, Securities Rulemaking Board to investment companies, and investment formulate rules for the municipal advisers who have violated any securities industry: provision of the Federal securities laws; The Commission oversees the self and regulatory activities of the national -prosecute persons who have securities exchanges and associations, engaged in fraudulent activities or other registered clearing agencies, and the willful violations of those laws. Municipal Securities Rulemaking Board. In addition, attorneys, accountants, In addition, the Commission regulates and other professionals who violate the industry professionals, such as securities securities. laws face possible loss of their brokers and dealers, certain municipal privilege to practice before the securities professionals, government Commission. securities brokers and dealers, and To this end, private investigations are transfer agents. conducted into complaints or other Rehabilitation of Failing Corporations indications of securities violations. In cases of corporate reorganization Evidence thus established of law proceedings administered in Federal violations is used in appropriate courts, the Commission may participate administrative proceedings to revoke as a statutory party. The principal registration or in actions instituted in |