The Securities and Exchange Commission voted Tuesday to shut down any broker-dealer or nonbank transfer agent whose computer systems are not year-2000 compliant, beginning Dec. 1.

Firms must report to the SEC on their Y2K readiness by Aug. 31. Those that are not ready at that date may continue operating if they certify that their systems will be ready by Nov. 15.

About 3,900 brokerage firms and nonbank transfer agents are covered by the new rules. No more than 50 are expected to report that their computers are not in compliance by Aug. 31.

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