Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Market Maker Cleanup Order Administrative Change, 7316-7318 [E5-582]
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7316
Federal Register / Vol. 70, No. 28 / Friday, February 11, 2005 / Notices
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 Exchange is proposing to add a
new section to its MRVP which would
set forth procedures for a member
against whom formal disciplinary action
is taken by the Exchange to consent to
the charges being levied and waive
formal disciplinary hearing. These
procedures would be similar to those set
forth in NASD Rule 9216, ‘‘Acceptance,
Waiver, and Consent; Plan Pursuant to
SEC Rule 19d–1(c)(2),’’ and provide that
a BSE member may, upon being notified
of disciplinary charges by the
Exchange’s Enforcement Department,
execute a written letter which (1)
accepts the charges, (2) consents to the
imposition of a sanction, and (3) agrees
to waive the right to a hearing of appeal
to challenge the validity of the letter. In
proposing such procedures, the
Exchange is seeking to provide its
members with an intermediary
disciplinary step, short of a formal
hearing, which would permit its
members to avoid formal proceedings in
instances where they accept liability
from the outset.
2. Statutory Basis
The statutory basis for the proposed
rule change is Section 6(b)(5) of the
Act,5 in that it is designed to promote
just and equitable principles of trade, to
foster cooperation and coordination
with persons engaged in regulating
securities transactions, to remove
impediments to perfect the mechanism
of a free and open market and a national
market system and, in general, to 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 will impose
any burden on competition that is 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 any comments on this
proposed rule change.
5 15
U.S.C. 78f(b)(5).
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17:18 Feb 10, 2005
Jkt 205001
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
BSE asserts that the foregoing rule has
become effective pursuant to Section
19(b)(3)(A) of the Act 6 and Rule 19b–
4(f)(6) thereunder 7 because it does not
significantly affect the protection of
investors or the public interest or
impose any significant burden on
competition. BSE has requested that the
Commission waive the requirement that
the rule change not become operative
for 30 days after the date of the filing,
as set forth in Rule 19b–4(f)(6)(iii).8 The
Commission finds good cause for the
proposed rule change to become
operative prior to the 30th day after the
date of publication of notice of filing in
the Federal Register. The Commission
notes that the proposed rule is
substantially similar to NASD Rule
9216,9 which was previously approved
by the Commission after notice and
comment and, therefore, does not raise
any new regulatory issues.10
At any time within 60 days of the
filing of the 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
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
8 17 CFR 240.19b–4(f)(6)(iii).
9 See Securities Exchange Release No. 32383 (May
28, 1993), 58 FR 31768 (June 4, 1993) (SR–NASD–
93–6).
10 Rule 19b–4(f)(6) also requires a self-regulatory
organization to give written notice of a proposed
rule change filed pursuant to this subsection at least
five business days prior to filing. BSE complied
with this requirement.
PO 00000
7 17
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For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–581 Filed 2–10–05; 8:45 am]
BILLING CODE 8010–01–P
• 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–BSE–2005–06 on the
subject line.
65
450 Fifth Street, NW., Washington, DC
20549–0609.
All submissions should refer to File
Number SR–BSE–2005–06. 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 such filing also will be
available for inspection and copying at
the principal office of BSE. 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–BSE–2005–06 and should
be submitted on or before March 4,
2005.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51145; File No. SR–PCX–
2005–02]
Self-Regulatory Organizations; Pacific
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to Market Maker
Cleanup Order Administrative Change
February 7, 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
21, 2005, the Pacific Exchange, Inc.
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\11FEN1.SGM
11FEN1
Federal Register / Vol. 70, No. 28 / Friday, February 11, 2005 / Notices
(‘‘PCX’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II and III
below, which Items have been prepared
by the PCX. The Exchange filed this
proposal pursuant to Section 19(b)(3)(A)
of the Act,3 and Rule 19b–4(f)(6)
thereunder,4 which renders the proposal
effective upon filing with the
Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The PCX, through its wholly-owned
subsidiary PCX Equities, Inc. (‘‘PCXE’’
or ‘‘Corporation’’), proposes to amend
its rules governing the Archipelago
Exchange (‘‘ArcaEx’’), the equities
trading facility of PCXE. With this filing,
PCX proposes to delete PCXE Rule
7.23(a)(6) in order to conform to a
previous rule change. The text of the
proposed rule change is available on the
PCX’s Web site (www.pacificex.com), at
the PCX’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, the
PCX 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 PCX 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
On October 23, 2003, the Exchange
filed a rule proposal with the
Commission to amend its rules
governing Market Maker obligations on
ArcaEx.5 Specifically, the Exchange
proposed to modify PCXE Rule 7.25(b)
to eliminate the stipulation that Market
Makers must become Odd Lot Dealers in
the securities in which they are
registered. In addition, the Exchange
proposed to modify PCXE Rule 7.34(b)
3 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
5 See SR–PCX–2003–59.
4 17
VerDate jul<14>2003
17:18 Feb 10, 2005
Jkt 205001
to eliminate the requirement that Market
Makers must maintain one Cleanup
Order for all of the securities in which
they are registered. The amendment was
intended to facilitate additional Market
Maker participation on ArcaEx and to
further enhance order interaction,
provide greater depth in liquidity, and
foster price competition. The
Commission approved the proposed
rule change on February 3, 2004.6
At this time, the Exchange proposes to
delete PCXE Rule 7.23(a)(6) to conform
to the previous rule change, which the
Exchange inadvertently failed to delete
as part of the filing in October 2003.7
PCXE Rule 7.23(a) details the
obligations of Market Makers and
subsection (6) requires Market Makers to
maintain one Cleanup order in each
security in which the Market Maker is
registered as such for each Market Order
Auction. The Exchange proposes to
delete this provision as obsolete given
the aforementioned rule change that was
approved by the Commission.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
section 6(b) of the Act,8 in general, and
furthers the objectives of section
6(b)(5),9 in particular, because it is
designed to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in facilitating transactions in securities,
and to remove impediments and perfect
the mechanisms of a free and open
market and to 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 will impose
any burden on competition that is 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
Written comments on the proposed
rule change were neither solicited nor
received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change
does not: (1) Significantly affect the
6 See Securities Exchange Act Release No. 49176
(February 3, 2004), 69 FR 6356 (February 10, 2004)
(Order approving SR–PCX–2003–59).
7 See supra note 5.
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(5).
PO 00000
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7317
protection of investors or the public
interest; (2) impose any significant
burden on competition; and (3) 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 Act10 and Rule 19b–4(f)(6)
thereunder.11 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–PCX–2005–02 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–PCX–2005–02. This file
number should beincluded 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
10 15
11 17
E:\FR\FM\11FEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
11FEN1
7318
Federal Register / Vol. 70, No. 28 / Friday, February 11, 2005 / Notices
available for inspection and copying in
the Commission’s Public Reference
Section, 450 Fifth Street, NW.,
Washington, DC 20549. Copies of such
filing also will be available for
inspection and copying at the principal
office of the Exchange. 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–PCX–
2005–02 and should be submitted on or
before March 4, 2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–582 Filed 2–10–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51144; File No. SR–Phlx–
2004–84]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Order Granting Approval to Proposed
Rule Change To Eliminate the Public
Order Exposure System Functionality
From Phlx Rule 229
February 7, 2005.
On November 26, 2004, the
Philadelphia Stock Exchange, Inc.
(‘‘Phlx’’ or ‘‘Exchange’’) 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
eliminate the Public Order Exposure
System (‘‘POES’’) functionality from
Phlx Rule 229. The proposed rule
change was published for comment in
the Federal Register on December 29,
2004.3 The Commission received no
comments on the proposal.
Currently, Phlx Rule 229,
Supplementary Material .05, provides
that if the PACE 4 Quote 5 at the time of
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 50901
(December 21, 2004), 69 FR 78089 (‘‘Notice’’).
4 PACE is the Exchange’s automated order
routing, delivery, execution and reporting system
for equities. See Phlx Rule 229.
5 The PACE Quote means the best bid/ask quote
among the American, Boston, National, Chicago,
New York, or Philadelphia Stock Exchanges; the
Pacific Exchange; or the Intermarket Trading
System/Computer Assisted Execution System
the entry of an order into the system
reflects a point spread of more than
$.05, round-lot market orders up to 500
shares and PRL 6 market orders up to
599 shares will be stopped at the PACE
Quote at the time of entry into the
system (‘‘Stop Price’’) and be subject to
a delay of up to 30 seconds from being
executed in order to receive an
opportunity for price improvement.
During that time, specialists may, but
are not required to, improve the
execution price of the order to a price
better than the Stop Price. Phlx
proposes to amend Phlx Rule 229 to
eliminate the POES functionality. As a
result, orders that would have been
subject to POES will be automatically
executed at the PACE quote without a
30-second delay.
The Commission finds that the
proposed rule change is consistent with
the requirements of the Act and the
rules and regulations thereunder
applicable to a national securities
exchange.7 In particular, the
Commission believes that the proposal
is consistent with Section 6(b)(5) of the
Act,8 which requires that the rules of an
exchange be designed, among other
things, to promote just and equitable
principles of trade, to perfect the
mechanism of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest. Under the proposed rule
change, orders that would have been
subject to a 30-second delay will now be
automatically executed at the PACE
quote, thereby improving order
turnaround time and reducing the
number of manual orders. The
Commission notes that specialists will
still be able to offer price improvement
through the Exchange’s Automatic Price
Improvement feature, where applicable,
and through manual price improvement
when certain conditions are met.9
It is therefore ordered, pursuant to
section 19(b)(2) of the Act,10 that the
proposed rule change (File No. SR–
Phlx–2004–84) be, and it hereby is,
approved.
17:18 Feb 10, 2005
Jkt 205001
BILLING CODE 8010–01–P
SMALL BUSINESS ADMINISTRATION
[License No. 09/79–0456]
HorizonVentures Fund II, L.P.; Notice
Seeking Exemption Under Section 312
of the Small Business Investment Act,
Conflicts of Interest
Notice is hereby given that Horizon
Ventures Fund II, L.P., 4 Main Street,
Suite 50, Los Altos, CA 94022, a Federal
Licensee under the Small Business
Investment Act of 1958, as amended
(‘‘the Act’’), in connection with the
financing of a small concern, has sought
an exemption under Section 312 of the
Act and Section 107.730, Financings
which Constitute Conflicts of Interest of
the Small Business Administration
(‘‘SBA’’) Rules and Regulations (13 CFR
107.730). Horizon Ventures Fund II, L.P.
proposes to provide equity/debt security
financing to iWatt, Inc.. The financing is
contemplated for operating expenses
and for general corporate purposes.
The financing is brought within the
purview of § 107.730(a)(1) of the
Regulations because Horizon Ventures
Fund I, L.P. and Horizon Ventures
Advisors Fund I, L.P., both Associates of
Horizon Ventures Fund II, L.P., own
more than ten percent of iWatt, Inc.
Notice is hereby given that any
interested person may submit written
comments on the transaction to the
Associate Administrator for Investment,
U.S. Small Business Administration,
409 Third Street, SW., Washington, DC
20416.
Dated: January 11, 2005.
Jaime Guzman-Fournier,
Acting Associate Administrator for
Investment.
[FR Doc. 05–2666 Filed 2–10–05; 8:45 am]
BILLING CODE 8025–01–P
SMALL BUSINESS ADMINISTRATION
12 17
VerDate jul<14>2003
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–583 Filed 2–10–05; 8:45 am]
(‘‘ITS/CAES’’) quote, as appropriate. See Phlx Rule
229.
6 PRL means a combined round-lot and odd-lot
order. See Phlx Rule 229.
7 In approving this proposed rule change, the
Commission notes that it has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
8 15 U.S.C. 78f(b)(5).
9 See Notice.
10 15 U.S.C. 78s(b)(2).
PO 00000
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Sfmt 4703
Region 1—Maine District Advisory
Council; Public Meeting
The U.S. Small Business
Administration, Maine District Advisory
Council, located in the geographical
area of Augusta, Maine, will be hosting
a public meeting to discuss such matters
as may be presented by members, staff
11 17
E:\FR\FM\11FEN1.SGM
CFR 200.30–3(a)(12).
11FEN1
]]>Agencies
[Federal Register Volume 70, Number 28 (Friday, February 11, 2005)]
[Notices]
[Pages 7316-7318]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-582]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-51145; File No. SR-PCX-2005-02]
Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Market Maker Cleanup Order Administrative Change
February 7, 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 21, 2005, the Pacific Exchange, Inc.
[[Page 7317]]
(``PCX'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I, II and III below, which Items have been prepared by the PCX.
The Exchange filed this proposal pursuant to Section 19(b)(3)(A) of the
Act,\3\ and Rule 19b-4(f)(6) thereunder,\4\ which renders the proposal
effective upon filing with the Commission. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The PCX, through its wholly-owned subsidiary PCX Equities, Inc.
(``PCXE'' or ``Corporation''), proposes to amend its rules governing
the Archipelago Exchange (``ArcaEx''), the equities trading facility of
PCXE. With this filing, PCX proposes to delete PCXE Rule 7.23(a)(6) in
order to conform to a previous rule change. The text of the proposed
rule change is available on the PCX's Web site (www.pacificex.com), at
the PCX'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, the PCX 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 PCX 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
On October 23, 2003, the Exchange filed a rule proposal with the
Commission to amend its rules governing Market Maker obligations on
ArcaEx.\5\ Specifically, the Exchange proposed to modify PCXE Rule
7.25(b) to eliminate the stipulation that Market Makers must become Odd
Lot Dealers in the securities in which they are registered. In
addition, the Exchange proposed to modify PCXE Rule 7.34(b) to
eliminate the requirement that Market Makers must maintain one Cleanup
Order for all of the securities in which they are registered. The
amendment was intended to facilitate additional Market Maker
participation on ArcaEx and to further enhance order interaction,
provide greater depth in liquidity, and foster price competition. The
Commission approved the proposed rule change on February 3, 2004.\6\
---------------------------------------------------------------------------
\5\ See SR-PCX-2003-59.
\6\ See Securities Exchange Act Release No. 49176 (February 3,
2004), 69 FR 6356 (February 10, 2004) (Order approving SR-PCX-2003-
59).
---------------------------------------------------------------------------
At this time, the Exchange proposes to delete PCXE Rule 7.23(a)(6)
to conform to the previous rule change, which the Exchange
inadvertently failed to delete as part of the filing in October
2003.\7\ PCXE Rule 7.23(a) details the obligations of Market Makers and
subsection (6) requires Market Makers to maintain one Cleanup order in
each security in which the Market Maker is registered as such for each
Market Order Auction. The Exchange proposes to delete this provision as
obsolete given the aforementioned rule change that was approved by the
Commission.
---------------------------------------------------------------------------
\7\ See supra note 5.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with section 6(b) of the Act,\8\ in general, and furthers the
objectives of section 6(b)(5),\9\ in particular, because it is designed
to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, and to remove impediments and perfect the
mechanisms of a free and open market and to protect investors and the
public interest.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 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 will
impose any burden on competition that is 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
Written comments on the proposed rule change were neither solicited
nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change does not: (1) Significantly
affect the protection of investors or the public interest; (2) impose
any significant burden on competition; and (3) 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\10\ and Rule 19b-4(f)(6)
thereunder.\11\ 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.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
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-PCX-2005-02 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-PCX-2005-02. This file
number should beincluded 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
[[Page 7318]]
available for inspection and copying in the Commission's Public
Reference Section, 450 Fifth Street, NW., Washington, DC 20549. Copies
of such filing also will be available for inspection and copying at the
principal office of the Exchange. 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-PCX-2005-02 and should be submitted on or before March
4, 2005.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
Margaret H. McFarland,
Deputy Secretary.
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\12\ 17 CFR 200.30-3(a)(12).
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[FR Doc. E5-582 Filed 2-10-05; 8:45 am]
BILLING CODE 8010-01-P
