Self-Regulatory Organizations; Chicago Board Options Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto To Extend a Pilot Program Relating to Certain Limitations on Trade-Through Liability at the End of the Options Trading Day, 6742-6743 [E5-496]
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6742
Federal Register / Vol. 70, No. 25 / Tuesday, February 8, 2005 / Notices
minimizes the importance of
compliance with Amex rules and all
other rules subject to the imposition of
fines under the Exchange’s Plan. The
Commission believes that the violation
of any self-regulatory organization’s
rules, as well as Commission rules, is a
serious matter. However, the Exchange’s
Plan provides a reasonable means of
addressing rule violations that do not
rise to the level of requiring formal
disciplinary proceedings, while
providing greater flexibility in handling
certain violations. The Commission
expects that Amex will continue to
conduct surveillance with due diligence
and make a determination based on its
findings, whether fines of more or less
than the recommended amount are
appropriate for violations under the
Plan, on case-by-case basis, or a
violation requires formal disciplinary
action.
It is therefore ordered, pursuant to
section 19(b)(2) of the Act 11 and Rule
19d–1(c)(2) under the Act,12 that the
proposed rule change (SR–Amex–2004–
72), as amended, be, and hereby is,
approved and declared effective.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.13
Jill M. Peterson,
Assistant Secretary.
[FR Doc. E5–495 Filed 2–7–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51112; File No. SR–CBOE–
2005–013]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Inc.; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change and Amendment No. 1 Thereto
To Extend a Pilot Program Relating to
Certain Limitations on Trade-Through
Liability at the End of the Options
Trading Day
January 31, 2005.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on January
26, 2005, the Chicago Board Options
Exchange, Inc. (‘‘CBOE’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) the
11 15
U.S.C. 78s(b)(2).
CFR 240.19d–1(c)(2).
13 17 CFR 200.30–3(a)(12); 17 CFR 200.30–
3(a)(44).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
12 17
VerDate jul<14>2003
18:12 Feb 07, 2005
Jkt 205001
proposed rule change as described in
items I and II below, which items have
been prepared by the CBOE. On January
28, 2005, the CBOE filed Amendment
No. 1 to the proposed rule change.3 The
Exchange has filed the proposal as a
‘‘non-controversial’’ rule change
pursuant to Section 19(b)(3)(A) of the
Act,4 and Rule 19b–4(f)(6) thereunder,5
which renders the proposal effective
upon filing with the Commission.6 The
Commission is publishing this notice to
solicit comments on the proposed rule
change, as amended, from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
CBOE proposes to extend a pilot
program relating to certain limitations
on trade-through liability at the end of
the trading day.
The text of the proposed rule change
is available on the CBOE’s Web site at
https://www.cboe.com, at the Exchange’s
Office of the Secretary, and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
CBOE included statements concerning
the purpose of and basis for the
proposed rule change and discussed any
comments it received on the proposed
rule change. The text of these statements
may be examined at the places specified
in item IV below. The Exchange has
prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the filing is to
conform CBOE rules to Joint
Amendment No. 14 to the Plan for the
Purpose of Creating and Operating an
Intermarket Option Linkage (the
‘‘Linkage Plan’’) 7 to extend the pilot
provision in the CBOE rules limiting
3 In Amendment No. 1 the Exchange made certain
technical corrections to Exhibit 5 to the filing.
4 15 U.S.C. 78s(b)(3)(A).
5 17 CFR 240.19b–4(f)(6).
6 The CBOE asked the Commission to waive the
30-day operative delay. See Rule 19b–4(f)(6)(iii). 17
CFR 240.19b–4(f)(6)(iii).
7 See Joint Amendment No. 14 to the Linkage
Plan filed by the Exchange on January 27, 2005 in
a letter from Edward J. Joyce, President and Chief
Operating Officer, CBOE, to Jonathan G, Katz,
Secretary, Commission, dated January 26, 2005.
PO 00000
Frm 00131
Fmt 4703
Sfmt 4703
trade-through liability at the end of the
options trading day. Pursuant to the
Linkage Plan pilot as currently in effect,
an options exchange member’s tradethrough liability is limited to 25
contracts per Satisfaction Order 8 for the
period between five minutes prior to the
close of trading in the underlying
security and the close of trading in the
options class. The participant option
exchanges in the Linkage Plan
(‘‘Participants’’) originally proposed this
limitation on liability as a one-year pilot
in Joint Amendment No. 4 to the
Linkage Plan. The Commission
temporarily put into effectiveness the
Linkage Plan pilot on January 31, 2003,9
followed by permanent approval on
June 18, 2003.10 The Commission then
granted two extensions to the Linkage
Plan pilot, first until June 30, 200411
and then until January 31, 2005.12
The Exchange is proposing to extend
the pilot in CBOE’s rules for an
additional year, until January 31, 2006.
In addition, the Exchange proposes to
increase the limit on trade-through
liability at the end of the day from 25
contracts to 50 contracts per Satisfaction
Order. This increase in the limit on
liability would be effective on February
1, 2005, when the current pilot expires.
The period during which this limit will
apply will remain the same, from five
minutes prior to the close of trading in
the underlying security until the close
of trading in the options class.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,13 in general, and
furthers the objectives of Section
6(b)(5),14 in particular, in particular in
that it should promote just and
equitable principles of trade, serve to
remove impediments to and perfect the
mechanism of a free and open market
8 A ‘‘Satisfaction Order’’ is an order sent through
the Linkage to notify a Participant Exchange of a
Trade-Through and to seek satisfaction of the
liability arising from that Trade-Through. See
Section 2(16)(c) of the Linkage Plan.
9 See Securities Exchange Act Release No. 47298
(January 31, 2003), 68 FR 6524 (February 7, 2003)
(Temporary effectiveness of pilot program on a 120day basis).
10 See Securities Exchange Act Release No. 48055
(June 18, 2003), 68 FR 37869 (June 25, 2003) (Order
approving Joint Amendment No. 4).
11 See Securities Exchange Act Release No. 49146
(January 29, 2004), 69 FR 5618 (February 5, 2004)
(Order approving Joint Amendment No. 8).
12 As a part of this extension of the Linkage Plan
pilot program, the Participants increased the
maximum liability from 10 to 25 contracts. See
Securities Exchange Act Release No. 49863 (June
15, 2004), 69 FR 35081 (June 23, 2004) (Order
approving Joint Amendment No. 12).
13 15 U.S.C. 78f(b).
14 15 U.S.C. 78f(b)(5).
E:\FR\FM\08FEN1.SGM
08FEN1
Federal Register / Vol. 70, No. 25 / Tuesday, February 8, 2005 / Notices
and a national market system, and
protect investors and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change, as amended,
will impose any burden on competition
not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange has neither solicited
nor received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change: (1)
Does not significantly affect the
protection of investors or the public
interest; (2) does not impose any
significant burden on competition; and
(3) does not become operative for 30
days from the date on which it was
filed, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, the proposed rule
change has become effective pursuant to
Section 19(b)(3)(A) of the Act 15 and
Rule 19b–4(f)(6) thereunder.16
A proposed rule change filed under
Rule 19b–4(f)(6) 17 normally does not
become operative prior to 30 days after
the date of filing. However, Rule 19b–
4(f)(6)(iii) permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange has requested that the
Commission waive the five-day prefiling requirement and the 30-day
operative delay, as specified in Rule
19b–4(f)(6)(iii), and designate the
proposed rule change immediately
operative.
The Commission believes that
waiving the five-day pre-filing provision
and the 30-day operative delay is
consistent with the protection of
investors and the public interest.18 By
waiving the pre-filing requirement and
accelerating the operative date, the Pilot
Program can continue without
interruption. The Commission believes
that allowing the pilot to continue will
allow Participants to either gather
15 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
17 17 Id.
18 For purposes of accelerating the operative date
of this proposal, the Commission has considered
the proposed rule’s impact on efficiency,
competition, and capital formation. 15 U.S.C. 78c(f).
16 17
VerDate jul<14>2003
18:12 Feb 07, 2005
Jkt 205001
sufficient information to justify the need
for the pilot program or determine that
the exemption from trade-through
liability is no longer necessary.
Increasing the maximum number of
contracts to be satisfied with respect to
Satisfaction Orders in the last seven
minutes of trading in options to 50
contracts will enhance customer order
protection.
At any time within 60 days of the
filing of such proposed rule change, the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–CBOE–2005–013 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
450 Fifth Street, NW., Washington, DC
20549–0609.
All submissions should refer to File
Number SR–CBOE–2005–013. This file
number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room. Copies of the filing also will be
available for inspection and copying at
PO 00000
Frm 00132
Fmt 4703
Sfmt 4703
6743
the principal offices of the CBOE. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–CBOE–2005–013 and
should be submitted on or before March
1, 2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.19
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–496 Filed 2–7–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51123; File No. SR–NASD–
2004–169]
Self-Regulatory Organizations;
National Association of Securities
Dealers, Inc.; Order Granting Approval
to Proposed Rule Change and
Amendment No. 3 Thereto To Adopt
Additional Listing Standards
Applicable to the Securities of the
Nasdaq Stock Market, Inc. or an
Affiliate
February 2, 2005.
I. Introduction
On November 2, 2004, the National
Association of Securities Dealers, Inc.
(‘‘NASD’’), through its subsidiary, The
Nasdaq Stock Market, Inc. (‘‘Nasdaq’’),
filed with the Securities and Exchange
Commission (‘‘Commission’’) pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’),1 and
Rule 19b–4 thereunder,2 a proposed rule
change to adopt additional listing
standards that would apply to securities
of Nasdaq or its affiliate listed on The
Nasdaq Stock Market. On December 14,
2004, and December 15, 2004, Nasdaq
filed Amendments No. 1 and No. 2,
respectively.3 On December 15, 2004,
Nasdaq filed Amendment No. 3 to the
proposal.4 The proposed rule change
19 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Amendment No. 1 and Amendment No. 2 were
deficient for technical reasons and were withdrawn
on December 14 and December 15, 2004,
respectively.
4 Amendment No. 3 slightly modified the text of
the proposed rule to make clear that the exclusion
in the definition of an Affiliate Security would
encompass both portfolio depository receipts and
index fund shares. The amendment also further
1 15
E:\FR\FM\08FEN1.SGM
Continued
08FEN1
]]>Agencies
[Federal Register Volume 70, Number 25 (Tuesday, February 8, 2005)]
[Notices]
[Pages 6742-6743]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-496]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-51112; File No. SR-CBOE-2005-013]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change and Amendment No. 1 Thereto To Extend a Pilot Program Relating
to Certain Limitations on Trade-Through Liability at the End of the
Options Trading Day
January 31, 2005.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on January 26, 2005, the Chicago Board Options Exchange, Inc. (``CBOE''
or ``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in items I and
II below, which items have been prepared by the CBOE. On January 28,
2005, the CBOE filed Amendment No. 1 to the proposed rule change.\3\
The Exchange has filed the proposal as a ``non-controversial'' rule
change pursuant to Section 19(b)(3)(A) of the Act,\4\ and Rule 19b-
4(f)(6) thereunder,\5\ which renders the proposal effective upon filing
with the Commission.\6\ The Commission is publishing this notice to
solicit comments on the proposed rule change, as amended, from
interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ In Amendment No. 1 the Exchange made certain technical
corrections to Exhibit 5 to the filing.
\4\ 15 U.S.C. 78s(b)(3)(A).
\5\ 17 CFR 240.19b-4(f)(6).
\6\ The CBOE asked the Commission to waive the 30-day operative
delay. See Rule 19b-4(f)(6)(iii). 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
CBOE proposes to extend a pilot program relating to certain
limitations on trade-through liability at the end of the trading day.
The text of the proposed rule change is available on the CBOE's Web
site at https://www.cboe.com, at the Exchange's Office of the Secretary,
and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, CBOE included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
item IV below. The Exchange has prepared summaries, set forth in
Sections A, B, and C below, of the most significant aspects of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the filing is to conform CBOE rules to Joint
Amendment No. 14 to the Plan for the Purpose of Creating and Operating
an Intermarket Option Linkage (the ``Linkage Plan'') \7\ to extend the
pilot provision in the CBOE rules limiting trade-through liability at
the end of the options trading day. Pursuant to the Linkage Plan pilot
as currently in effect, an options exchange member's trade-through
liability is limited to 25 contracts per Satisfaction Order \8\ for the
period between five minutes prior to the close of trading in the
underlying security and the close of trading in the options class. The
participant option exchanges in the Linkage Plan (``Participants'')
originally proposed this limitation on liability as a one-year pilot in
Joint Amendment No. 4 to the Linkage Plan. The Commission temporarily
put into effectiveness the Linkage Plan pilot on January 31, 2003,\9\
followed by permanent approval on June 18, 2003.\10\ The Commission
then granted two extensions to the Linkage Plan pilot, first until June
30, 2004\11\ and then until January 31, 2005.\12\
---------------------------------------------------------------------------
\7\ See Joint Amendment No. 14 to the Linkage Plan filed by the
Exchange on January 27, 2005 in a letter from Edward J. Joyce,
President and Chief Operating Officer, CBOE, to Jonathan G, Katz,
Secretary, Commission, dated January 26, 2005.
\8\ A ``Satisfaction Order'' is an order sent through the
Linkage to notify a Participant Exchange of a Trade-Through and to
seek satisfaction of the liability arising from that Trade-Through.
See Section 2(16)(c) of the Linkage Plan.
\9\ See Securities Exchange Act Release No. 47298 (January 31,
2003), 68 FR 6524 (February 7, 2003) (Temporary effectiveness of
pilot program on a 120-day basis).
\10\ See Securities Exchange Act Release No. 48055 (June 18,
2003), 68 FR 37869 (June 25, 2003) (Order approving Joint Amendment
No. 4).
\11\ See Securities Exchange Act Release No. 49146 (January 29,
2004), 69 FR 5618 (February 5, 2004) (Order approving Joint
Amendment No. 8).
\12\ As a part of this extension of the Linkage Plan pilot
program, the Participants increased the maximum liability from 10 to
25 contracts. See Securities Exchange Act Release No. 49863 (June
15, 2004), 69 FR 35081 (June 23, 2004) (Order approving Joint
Amendment No. 12).
---------------------------------------------------------------------------
The Exchange is proposing to extend the pilot in CBOE's rules for
an additional year, until January 31, 2006. In addition, the Exchange
proposes to increase the limit on trade-through liability at the end of
the day from 25 contracts to 50 contracts per Satisfaction Order. This
increase in the limit on liability would be effective on February 1,
2005, when the current pilot expires. The period during which this
limit will apply will remain the same, from five minutes prior to the
close of trading in the underlying security until the close of trading
in the options class.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\13\ in general, and furthers the
objectives of Section 6(b)(5),\14\ in particular, in particular in that
it should promote just and equitable principles of trade, serve to
remove impediments to and perfect the mechanism of a free and open
market
[[Page 6743]]
and a national market system, and protect investors and the public
interest.
---------------------------------------------------------------------------
\13\ 15 U.S.C. 78f(b).
\14\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change, as
amended, will impose any burden on competition not necessary or
appropriate in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
The Exchange has neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change: (1) Does not significantly
affect the protection of investors or the public interest; (2) does not
impose any significant burden on competition; and (3) does not become
operative for 30 days from the date on which it was filed, or such
shorter time as the Commission may designate if consistent with the
protection of investors and the public interest, the proposed rule
change has become effective pursuant to Section 19(b)(3)(A) of the Act
\15\ and Rule 19b-4(f)(6) thereunder.\16\
---------------------------------------------------------------------------
\15\ 15 U.S.C. 78s(b)(3)(A).
\16\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \17\ normally
does not become operative prior to 30 days after the date of filing.
However, Rule 19b-4(f)(6)(iii) permits the Commission to designate a
shorter time if such action is consistent with the protection of
investors and the public interest. The Exchange has requested that the
Commission waive the five-day pre-filing requirement and the 30-day
operative delay, as specified in Rule 19b-4(f)(6)(iii), and designate
the proposed rule change immediately operative.
---------------------------------------------------------------------------
\17\ 17 Id.
---------------------------------------------------------------------------
The Commission believes that waiving the five-day pre-filing
provision and the 30-day operative delay is consistent with the
protection of investors and the public interest.\18\ By waiving the
pre-filing requirement and accelerating the operative date, the Pilot
Program can continue without interruption. The Commission believes that
allowing the pilot to continue will allow Participants to either gather
sufficient information to justify the need for the pilot program or
determine that the exemption from trade-through liability is no longer
necessary. Increasing the maximum number of contracts to be satisfied
with respect to Satisfaction Orders in the last seven minutes of
trading in options to 50 contracts will enhance customer order
protection.
---------------------------------------------------------------------------
\18\ For purposes of accelerating the operative date of this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------
At any time within 60 days of the filing of such proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-CBOE-2005-013 on the subject line.
Paper Comments
Send paper comments in triplicate to Jonathan G. Katz,
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW.,
Washington, DC 20549-0609.
All submissions should refer to File Number SR-CBOE-2005-013. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room. Copies of the
filing also will be available for inspection and copying at the
principal offices of the CBOE. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-CBOE-2005-013 and should be submitted on or before March
1, 2005.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\19\
---------------------------------------------------------------------------
\19\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-496 Filed 2-7-05; 8:45 am]
BILLING CODE 8010-01-P
