Investment company advisers have until Dec. 7 to file the first of two required new forms with the Securities and Exchange Commission on how prepared their computer systems are for the Year 2000. The second form is due by June 7, 1999. Advisers may not file forms more than two weeks before the deadlines.
The SEC rules, announced Oct. 2 and effective Nov. 13, require forms to be filed by SEC-registered investment advisers that either advise a registered investment company or manage at least $25 million in assets. The SEC estimates 6,500 of 7,500 SEC-registered advisers will need to complete the forms. The SEC expects it will take about four hours for advisers to fill out the forms.