The Securities and Exchange Commission (``Commission'') is amending Rule 17a-5 under the Securities Exchange Act of 1934 (``Exchange Act'') to require certain broker-dealers to file with the Commission and their designated examining authorities (``DEA'') a report prepared by an independent public accountant regarding the broker-dealer's process for preparing for the Year 2000. The report will provide valuable information on the existence and sufficiency of a broker-dealer's process for addressing Year 2000 Problems; provide an independent verification of the accuracy of the information contained in the broker-dealer's second Form BD-Y2K; aid the Commission in obtaining a more complete understanding of the industry's overall Year 2000 preparations; and identify firm-specific and industry-wide problems. The independent public accountant's report will be available to the public.