Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Suspension of the Specialist's and Registered Traders' Transaction Charges for the Trading of Nasdaq-100 Index Tracking Stock®, 7780-7781 [E5-602]
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7780
Federal Register / Vol. 70, No. 30 / Tuesday, February 15, 2005 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51155; File No. PCAOB–
2004–02]
Public Company Accounting Oversight
Board; Order Approving Proposed
Rule and Amendment No. 1 Amending
Bylaws
February 8, 2005.
I. Introduction
On November 12, 2004, the Public
Company Accounting Oversight Board
(the ‘‘Board’’ or the ‘‘PCAOB’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’)
proposed amendments to its bylaws, as
modified by Amendment No. 1 to the
proposed amendments, (PCAOB–2004–
02) pursuant to Sections 101 and 107 of
the Sarbanes-Oxley Act of 2002 (the
‘‘Act’’), which clarify existing bylaw
provisions and address certain internal
operational and administrative matters.
Notice of the proposed bylaw
amendments was published in the
Federal Register on January 4, 2005.
The Commission received no comment
letters relating to the proposed bylaw
amendments. For the reasons discussed
below, the Commission is granting
approval of the proposed bylaw
amendments.
II. Description
Section 101(g)(1) of the Act directs the
PCAOB to adopt rules to provide for the
operation and administration of the
Board, the exercise of its authority, and
the performance of its responsibilities
under the Act. Pursuant to its
organizational and rulemaking authority
under the Act, the Board adopted a set
of bylaws on January 3, 2003 to
establish rules, standards and
procedures for the conduct of the
PCAOB’s business affairs. On April 25,
2003, the Board amended the bylaws to
specify the powers of the PCAOB’s
Chair. The Commission approved the
Board’s bylaws, as amended, on July 23,
2003. The Board adopted additional
amendments to its bylaws on March 9,
2004 to clarify existing provisions and
to cause the bylaws to address certain
internal operational and administrative
PCAOB matters, and submitted the
proposed bylaw amendments to the
Commission on March 18, 2004. On
October 26, 2004, the PCAOB adopted
modifications to the proposed
amendments, and submitted the
proposed amendments, as modified, for
Commission approval on November 12,
2004. Pursuant to the requirements of
Section 107(b) of the Act and Section
19(b) of the Securities Exchange Act of
VerDate jul<14>2003
17:50 Feb 14, 2005
Jkt 205001
1934 (the ‘‘Exchange Act’’), the
Commission published the proposed
amendments, as modified, for public
comment on January 4, 2005.
III. Discussion
The Commission received no public
comments relating to the PCAOB’s
proposed amendments to its bylaws.
The proposed amendments are intended
to revise the PCAOB’s bylaws to clarify
existing provisions and to cause the
bylaws to address certain internal
operational and administrative PCAOB
matters. The proposed amendments also
are generally intended to make the
bylaw provisions more consistent with
District of Columbia and Internal
Revenue Service provisions for
nonprofit corporations and to make the
Board’s operations more transparent.
IV. Conclusion
On the basis of the foregoing, the
Commission finds that the proposed
amendments to the Board’s bylaws are
consistent with the requirements of the
Act and the securities laws and are
necessary and appropriate in the public
interest and for the protection of
investors.
It is therefore ordered, pursuant to
Section 107 of the Act and Section
19(b)(2) of the Exchange Act, that the
proposed bylaw amendments (File No.
PCAOB–2004–02) be and hereby are
approved.
By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–604 Filed 2–14–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51150; File No. SR–Amex–
2005–017]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change To Extend
the Suspension of the Specialist’s and
Registered Traders’ Transaction
Charges for the Trading of Nasdaq-100
Index Tracking Stock
February 8, 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 February
2, 2005, the American Stock Exchange
LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
PO 00000
11
15 U.S.C. 78s(b)(1).
CFR 240.19b–4.
Fmt 4703
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Amex proposes to amend the
Amex Equity and Exchange Traded
Funds and Trust Issued Receipts Fee
Schedules (‘‘Amex Fee Schedules’’) to
extend the temporary suspension of the
specialist’s and registered traders’
transaction charges for the trading of
Nasdaq-100 Index Tracking Stock
(Symbol: QQQQ) pursuant to the
Nasdaq Unlisted Trading Privileges
Plan. The text of the proposed rule
change is available on the Amex’s Web
site (www.amex.com), at the Amex’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
Exchange 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
Amex 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
Effective December 1, 2004, the
Nasdaq-100 Index Tracking Stock
listed on the Nasdaq Stock Market, Inc.
It trades on Nasdaq under the symbol
QQQQ. The Amex trades the QQQQ on
an unlisted trading privileges basis. The
transaction charges for the specialist
and registered traders are $0.0037 ($0.37
per 100 shares) and $0.0038 ($0.38 per
100 shares) respectively. These
3 15
2 17
Frm 00070
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, III below, which Items have
been prepared by the Exchange. The
Amex has designated the proposed rule
change as ‘‘establishing or changing a
due, fee, or other charge’’ under Section
19(b)(3)(A) of the Act,3 and Rule 19b–
4(f)(2) 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.
44
Sfmt 4703
E:\FR\FM\15FEN1.SGM
U.S.C. 78s(b)(3)(A).
17 CFR 240.19b–4(f)(2).
15FEN1
Federal Register / Vol. 70, No. 30 / Tuesday, February 15, 2005 / Notices
transaction charges are also subject to a
$300 per trade maximum. The Amex,
however, has suspended these charges
through January 31, 2005.5 The Amex
now proposes to amend the Amex Fee
Schedules to suspend the transaction
charges for the specialist and registered
traders until February 28, 2005. The
Exchange believes that this fee
suspension would encourage
competition among markets trading
QQQQ and enhance the Amex’s
competitiveness in trading this security.
2. Statutory Basis
The Amex believes the proposed rule
change is consistent with Section 6(b) of
the Act,6 in general, and furthers the
objectives of Section 6(b)(4) of the Act,7
in particular, in that it is intended to
provide for the equitable allocation of
reasonable dues, fees and other charges
among its members and issuers and
other persons using its facilities.
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.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change establishes
or changes a due, fee, or other charge
imposed by the Exchange, and,
therefore, has become effective pursuant
to Section 19(b)(3)(A)(ii) of the Act 8 and
subparagraph (f)(2) of Rule 19b–4
thereunder.9 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,
5 See Securities Exchange Act Release No. 50970
(January 6, 2005), 70 FR 2193 (January 12, 2005)
(SR–Amex–2004–110).
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(4).
8 15 U.S.C. 78s(b)(3)(A)(ii).
9 17 CFR 240.19b–4(f)(2).
VerDate jul<14>2003
17:50 Feb 14, 2005
Jkt 205001
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–Amex–2005–017 on the
subject line.
7781
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51152; File No. SR-Amex2005–016]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Order Granting
Accelerated Approval to a Proposed
Rule Change Relating to the Extension
of the Suspension of Customer
Transaction Charges for the Trading of
Nasdaq-100 Index Tracking Stock
February 8, 2005.
Paper Comments
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 February
2, 2005, the American Stock Exchange
LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
All submissions should refer to File
Commission (‘‘Commission’’) the
Number SR–Amex–2005–017. This file
proposed rule change as described in
number should be included on the
Items I, II, and III below, which Items
subject line if e-mail is used. To help the have been prepared by the Exchange.
Commission process and review your
The Commission is publishing this
comments more efficiently, please use
notice to solicit comments on the
only one method. The Commission will proposed rule change from interested
post all comments on the Commission’s persons. In addition, the Commission is
Internet Web site (https://www.sec.gov/
granting accelerated approval of the
rules/sro.shtml). Copies of the
proposed rule change.
submission, all subsequent
I. Self-Regulatory Organization’s
amendments, all written statements
Statement of the Terms of Substance of
with respect to the proposed rule
the Proposed Rule Change
change that are filed with the
Commission, and all written
The Amex proposes to amend the
communications relating to the
Amex Equity and Exchange Traded
proposed rule change between the
Funds and Trust Issued Receipts Fee
Commission and any person, other than Schedules (‘‘Amex Fee Schedules’’) to
those that may be withheld from the
extend the suspension of customer
public in accordance with the
transactions charges for the trading of
provisions of 5 U.S.C. 552, will be
Nasdaq-100 Index Tracking Stock
available for inspection and copying in
(Symbol: QQQQ) pursuant to the
the Commission’s Public Reference
Nasdaq Unlisted Trading Privileges Plan
Room, 450 Fifth Street, NW.,
until February 28, 2005.3 The text of the
Washington, DC 20549. Copies of such
proposed rule change is available on the
filing will also be available for
Amex’s Web site (https://
inspection and copying at the principal
www.amex.com), at the Amex’s Office of
office of the Amex. All comments
the Secretary, and at the Commission’s
received will be posted without change; Public Reference Room.
the Commission does not edit personal
II. Self-Regulatory Organization’s
identifying information from
Statement of the Purpose of, and
submissions. You should submit only
Statutory Basis for, the Proposed Rule
information that you wish to make
Change
available publicly. All submissions
In its filing with the Commission, the
should refer to File Number SR–Amex–
Exchange included statements
2005–017 and should be submitted on
concerning the purpose of, and basis for,
or before March 8, 2005.
the proposed rule change and discussed
For the Commission, by the Division of
any comments it had received on the
Market Regulation, pursuant to delegated
proposed rule change. The text of these
10
authority.
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
450 Fifth Street, NW., Washington, DC
20549–0609.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–602 Filed 2–14–05; 8:45 am]
BILLING CODE 8010–01–P
PO 00000
10 17
CFR 200.30–3(a)(12).
Frm 00071
Fmt 4703
Sfmt 4703
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 The Exchange also submitted a proposed rule
change extending the suspension of the specialist’s
and registered traders’ transaction charges for the
trading of QQQQ. See File No. SR–Amex–2005–
017.
2 17
E:\FR\FM\15FEN1.SGM
15FEN1
]]>Agencies
[Federal Register Volume 70, Number 30 (Tuesday, February 15, 2005)]
[Notices]
[Pages 7780-7781]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-602]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-51150; File No. SR-Amex-2005-017]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Extend the Suspension of the Specialist's and Registered Traders'
Transaction Charges for the Trading of Nasdaq-100 Index Tracking
Stock[reg]
February 8, 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 February 2, 2005, the American Stock Exchange LLC (``Amex'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
III below, which Items have been prepared by the Exchange. The Amex has
designated the proposed rule change as ``establishing or changing a
due, fee, or other charge'' under Section 19(b)(3)(A) of the Act,\3\
and Rule 19b-4(f)(2) 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\ 1 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 4 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Amex proposes to amend the Amex Equity and Exchange Traded
Funds and Trust Issued Receipts Fee Schedules (``Amex Fee Schedules'')
to extend the temporary suspension of the specialist's and registered
traders' transaction charges for the trading of Nasdaq-100 Index
Tracking Stock[reg] (Symbol: QQQQ) pursuant to the Nasdaq Unlisted
Trading Privileges Plan. The text of the proposed rule change is
available on the Amex's Web site (www.amex.com), at the Amex'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 Exchange 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 Amex 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
Effective December 1, 2004, the Nasdaq-100 Index Tracking
Stock[reg] listed on the Nasdaq Stock Market, Inc. It trades on Nasdaq
under the symbol QQQQ. The Amex trades the QQQQ on an unlisted trading
privileges basis. The transaction charges for the specialist and
registered traders are $0.0037 ($0.37 per 100 shares) and $0.0038
($0.38 per 100 shares) respectively. These
[[Page 7781]]
transaction charges are also subject to a $300 per trade maximum. The
Amex, however, has suspended these charges through January 31, 2005.\5\
The Amex now proposes to amend the Amex Fee Schedules to suspend the
transaction charges for the specialist and registered traders until
February 28, 2005. The Exchange believes that this fee suspension would
encourage competition among markets trading QQQQ and enhance the Amex's
competitiveness in trading this security.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 50970 (January 6,
2005), 70 FR 2193 (January 12, 2005) (SR-Amex-2004-110).
---------------------------------------------------------------------------
2. Statutory Basis
The Amex believes the proposed rule change is consistent with
Section 6(b) of the Act,\6\ in general, and furthers the objectives of
Section 6(b)(4) of the Act,\7\ in particular, in that it is intended to
provide for the equitable allocation of reasonable dues, fees and other
charges among its members and issuers and other persons using its
facilities.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
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.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change establishes or changes a due, fee, or
other charge imposed by the Exchange, and, therefore, has become
effective pursuant to Section 19(b)(3)(A)(ii) of the Act \8\ and
subparagraph (f)(2) of Rule 19b-4 thereunder.\9\ 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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(ii).
\9\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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-Amex-2005-017 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-Amex-2005-017. 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, 450 Fifth
Street, NW., Washington, DC 20549. Copies of such filing will also be
available for inspection and copying at the principal office of the
Amex. 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-
Amex-2005-017 and should be submitted on or before March 8, 2005.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-602 Filed 2-14-05; 8:45 am]
BILLING CODE 8010-01-P
