The SEC may be overdoing it in its preparations for the computer-programming transition to the year 2000, according to some mutual fund operations executives.

The SEC is subjecting the operations groups at the largest mutual fund companies to unprecedented scrutiny at the end of this month and in the first several business days of the new year in an effort to monitor how well fund systems respond to the change in the calendar date to the year 2000. The SEC has asked the largest fund companies - a group fund officials said includes approximately 30 companies - to respond in writing to questionnaires beginning next week about the preparedness of their operations for Y2K, fund executives, lawyers and consultants said last week.

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