Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to PCX Rules 6.33 and 6.44, Amending Procedural Requirements for the PCX Market Maker and Floor Broker Examinations, 9419-9420 [E5-777]
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Federal Register / Vol. 70, No. 37 / Friday, February 25, 2005 / Notices
the Commission’s Public Reference
Room. Copies of such filing also will be
available for inspection and copying at
the principal office of the NASD. 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–NASD–2004–026 and
should be submitted on or before March
18, 2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.15
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–776 Filed 2–24–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51228; File No. SR–PCX–
2005–18]
Self-Regulatory Organizations; Pacific
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change to PCX Rules 6.33 and
6.44, Amending Procedural
Requirements for the PCX Market
Maker and Floor Broker Examinations
February 18, 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
4, 2005, the Pacific Exchange, Inc.
(‘‘PCX’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II
and III below, which Items have been
prepared by PCX. PCX filed this
proposal pursuant to Section
19(b)(3)(A) 3 of the Act 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
PCX proposes to amend PCX Rules
6.33 and 6.44 in order to amend the
procedural requirements for the Market
15 17
CFR 200.30–3(a)(12).
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).
1 15
VerDate jul<14>2003
19:31 Feb 24, 2005
Jkt 205001
Maker and Floor Broker examinations.
The text of the proposed rule change is
available on PCX’s Web site (https://
www.pacificex.com/legal/
legal_pending.html), 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,
PCX included statements concerning the
purpose of and basis for its proposal and
discussed any comments it received
regarding the proposal. The text of these
statements may be examined at the
places specified in Item IV below. 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
PCX proposes to amend PCX Rules
6.33 (Registration of Market Makers) and
6.44 (Registration of Floor Brokers) in
order to amend the procedural
requirements for the Market Maker and
Floor Broker examinations. These rules
contain requirements that the Exchange
give examinations with a specific
number of questions (100 for Market
Makers and 121 for Floor Brokers) and
allow for a specific amount of time for
the applicant to complete the
examination (3 hours for Market Makers
and 3 hours 30 minutes for Floor
Brokers). With the implementation of
PCX Plus, the Exchange’s electronic
order delivery, execution and reporting
system for designated option issues
through which orders and Quotes with
Size are consolidated for execution and/
or display, the Exchange completely
revised its qualifying examinations in
2003. As such, the old requirements are
no longer applicable and the rules need
to be amended to remove the obsolete
references.
The Exchange continually reviews
and modifies its qualifying
examinations. The examinations are
amended to reflect changes in the
industry as well as specific trading rules
applicable to the PCX. Questions are
added and deleted as changes in the
marketplace dictate. As such, the
Exchange needs the ability to administer
examinations without being required to
submit a rule change to amend the
number of questions or the amount of
time for the applicant to complete the
examination. Removing the current
PO 00000
Frm 00153
Fmt 4703
Sfmt 4703
9419
language from PCX Rules 6.33 and 6.44
will give the Exchange much greater
flexibility in administering such
examinations. The Exchange represents
that it will file any changes to the
examinations, including the addition or
removal of questions, changes in the
time allotted for completion or any
other aspect of the examination, with
the Commission before implementing
such changes in accordance with the
Commission’s current policy on
examinations. The Exchange plans to
continually monitor the examination
process and make adjustments to both
the examinations and the time allowed
to complete the examinations when
such adjustments are needed.
2. Statutory Basis
PCX believes that the proposed rule
change is consistent with Section 6(b)(5)
of the Act,5 which requires the rules of
the exchange be designed to facilitate
transactions in securities, to promote
just and equitable principles of trade,
and to protect investors and the public
interest. The PCX also believes that the
proposed rule change is consistent with
Section 6(c)(3) of the Act,6 which
authorizes PCX to prescribe standards of
training, experience, and competence
for persons associated with PCX
members.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
PCX does not believe that the
proposed rule change will result in 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 were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the proposed rule change
does not:
(i) significantly affect the protection of
investors or the public interest;
(ii) impose any significant burden on
competition; and
(iii) become operative for 30 days
from the date on which it was filed, or
such shorter time as the Commission
may designate, it has become effective
pursuant to Section 19(b)(3)(A) of the
5 15
6 15
E:\FR\FM\25FEN1.SGM
U.S.C. 78f(b)(5).
U.S.C. 78f(c)(3).
25FEN1
9420
Federal Register / Vol. 70, No. 37 / Friday, February 25, 2005 / Notices
Act 7 and Rule 19b–4(f)(6) thereunder.8
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–2005–18 on the
subject line.
submissions should refer to File
Number SR–PCX–2005–18 and should
be submitted on or before March 18,
2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.9
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–777 Filed 2–24–05; 8:45 am]
BILLING CODE 8010–01–P
8 17
19:31 Feb 24, 2005
[Public Notice 5004]
Culturally Significant Objects Imported
for Exhibition Determinations:
´
‘‘Pioneering Modern Painting: Cezanne
and Pissarro 1865–1885’’
9 17
Jkt 205001
DEPARTMENT OF STATE
Bureau of Educational and Cultural
Affairs (ECA) Request for Grant
Proposals: East Timor and South
Pacific Scholarship Programs
DEPARTMENT OF STATE
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
VerDate jul<14>2003
BILLING CODE 4710–08–P
[Public Notice 5002]
SUMMARY: Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), Executive Order 12047 of March
Paper Comments
27, 1978, the Foreign Affairs Reform and
• Send paper comments in triplicate
Restructuring Act of 1998 (112 Stat.
to Jonathan G. Katz, Secretary,
2681, et seq.; 22 U.S.C. 6501 note, et
Securities and Exchange Commission,
seq.), Delegation of Authority No. 234 of
450 Fifth Street, NW., Washington, DC
October 1, 1999, and Delegation of
20549–0609. All submissions should
Authority No. 236 of October 19, 1999,
refer to File Number SR–PCX–2005–18.
as amended, and Delegation of
This file number should be included on Authority No. 257 of April 15, 2003 [68
the subject line if e-mail is used. To help FR 19875], I hereby determine that the
the Commission process and review
objects to be included in the exhibition
your comments more efficiently, please
´
‘‘Pioneering Modern Painting: Cezanne
use only one method. The Commission
and Pissarro 1865–1885,’’ imported
will post all comments on the
from abroad for temporary exhibition
Commission’s Internet Web site (https://
within the United States, are of cultural
www.sec.gov/ rules/sro.shtml). Copies of significance. The objects are imported
the submission, all subsequent
pursuant to a loan agreement with the
amendments, all written statements
foreign owners. I also determine that the
with respect to the proposed rule
exhibition or display of the exhibit
change that are filed with the
objects at The Museum of Modern Art,
Commission, and all written
New York, NY from on or about June 24,
communications relating to the
2005 to on or about September 12, 2005,
proposed rule change between the
Los Angeles County Museum from on or
Commission and any person, other than about October 20, 2005 to on or about
those that may be withheld from the
January 16, 2006, and at possible
public in accordance with the
additional venues yet to be determined,
provisions of 5 U.S.C. 552, will be
is in the national interest. Public Notice
available for inspection and copying in
of these determinations is ordered to be
the Commission’s Public Reference
published in the Federal Register.
Room. Copies of such filing also will be
FOR FURTHER INFORMATION CONTACT: For
available for inspection and copying at
further information, including a list of
the principal office of the PCX. All
the exhibit objects, contact Carol B.
comments received will be posted
Epstein, Attorney-Adviser, Office of the
without change; the Commission does
Legal Adviser, Department of State,
not edit personal identifying
(telephone: (202) 453–8048). The
information from submissions. You
address is Department of State, SA–44,
should submit only information that
you wish to make available publicly. All 301 4th Street, SW., Room 700,
Washington, DC 20547–0001.
7 15
Dated: February 17, 2005.
C. Miller Crouch,
Principal Deputy Assistant Secretary for
Educational and Cultural Affairs, Department
of State.
[FR Doc. 05–3700 Filed 2–24–05; 8:45 am]
PO 00000
CFR 200.30–3(a)(12).
Frm 00154
Fmt 4703
Sfmt 4703
Announcement Type: New
Cooperative Agreement.
Funding Opportunity Number: ECA/
A/E/EAP–05–01.
Catalog of Federal Domestic
Assistance Number: 00.000.
Application Deadline: April 14, 2005.
Executive Summary: The Office of
Academic Programs of the Bureau of
Educational and Cultural Affairs
announces an open competition to
administer the United States-East Timor
(USET) Scholarship Program and the
United States-South Pacific (USSP)
Scholarship Program. Eligible
applicants may submit a proposal to
administer one or both of the
scholarship programs. Public and
private non-profit organizations meeting
the provisions described in Internal
Revenue Code section 26 U.S.C.
501(c)(3) may submit proposals to
organize and carry out academic
exchange program activities for students
from East Timor and the sovereign
island nations of the South Pacific
(eligible nations are listed below in the
Overview section). The grantee(s) will
be responsible for all aspects of the
programs, including publicity and
recruitment of applicants; merit-based
competitive selection; placement of
students at an accredited U.S. academic
institution; student travel to the U.S.;
orientation; up to four years of U.S.
degree study at the bachelor’s or
master’s level; enrichment
programming; advising, monitoring and
support; pre-return activities;
evaluation; and follow-up with program
alumni. The duration of the grant(s) will
be up to five years, beginning in
Summer 2005. The Conference Report
accompanying the FY–2005
Consolidated Appropriations Act (Pub.
L. 108–447) earmarks $500,000 to
support the U.S.-East Timor Scholarship
Program and $500,000 to support the
U.S.-South Pacific Scholarship Program.
E:\FR\FM\25FEN1.SGM
25FEN1
]]>Agencies
[Federal Register Volume 70, Number 37 (Friday, February 25, 2005)]
[Notices]
[Pages 9419-9420]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-777]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-51228; File No. SR-PCX-2005-18]
Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change to PCX Rules
6.33 and 6.44, Amending Procedural Requirements for the PCX Market
Maker and Floor Broker Examinations
February 18, 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 4, 2005, the Pacific Exchange, Inc. (``PCX'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I, II and III below, which Items have been prepared by PCX. PCX
filed this proposal pursuant to Section 19(b)(3)(A) \3\ of the Act 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
PCX proposes to amend PCX Rules 6.33 and 6.44 in order to amend the
procedural requirements for the Market Maker and Floor Broker
examinations. The text of the proposed rule change is available on
PCX's Web site (https://www.pacificex.com/legal/legal_pending.html), 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, PCX included statements
concerning the purpose of and basis for its proposal and discussed any
comments it received regarding the proposal. The text of these
statements may be examined at the places specified in Item IV below.
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
PCX proposes to amend PCX Rules 6.33 (Registration of Market
Makers) and 6.44 (Registration of Floor Brokers) in order to amend the
procedural requirements for the Market Maker and Floor Broker
examinations. These rules contain requirements that the Exchange give
examinations with a specific number of questions (100 for Market Makers
and 121 for Floor Brokers) and allow for a specific amount of time for
the applicant to complete the examination (3 hours for Market Makers
and 3 hours 30 minutes for Floor Brokers). With the implementation of
PCX Plus, the Exchange's electronic order delivery, execution and
reporting system for designated option issues through which orders and
Quotes with Size are consolidated for execution and/or display, the
Exchange completely revised its qualifying examinations in 2003. As
such, the old requirements are no longer applicable and the rules need
to be amended to remove the obsolete references.
The Exchange continually reviews and modifies its qualifying
examinations. The examinations are amended to reflect changes in the
industry as well as specific trading rules applicable to the PCX.
Questions are added and deleted as changes in the marketplace dictate.
As such, the Exchange needs the ability to administer examinations
without being required to submit a rule change to amend the number of
questions or the amount of time for the applicant to complete the
examination. Removing the current language from PCX Rules 6.33 and 6.44
will give the Exchange much greater flexibility in administering such
examinations. The Exchange represents that it will file any changes to
the examinations, including the addition or removal of questions,
changes in the time allotted for completion or any other aspect of the
examination, with the Commission before implementing such changes in
accordance with the Commission's current policy on examinations. The
Exchange plans to continually monitor the examination process and make
adjustments to both the examinations and the time allowed to complete
the examinations when such adjustments are needed.
2. Statutory Basis
PCX believes that the proposed rule change is consistent with
Section 6(b)(5) of the Act,\5\ which requires the rules of the exchange
be designed to facilitate transactions in securities, to promote just
and equitable principles of trade, and to protect investors and the
public interest. The PCX also believes that the proposed rule change is
consistent with Section 6(c)(3) of the Act,\6\ which authorizes PCX to
prescribe standards of training, experience, and competence for persons
associated with PCX members.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b)(5).
\6\ 15 U.S.C. 78f(c)(3).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
PCX does not believe that the proposed rule change will result in
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 were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the proposed rule change does not:
(i) significantly affect the protection of investors or the public
interest;
(ii) impose any significant burden on competition; and
(iii) become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, it has
become effective pursuant to Section 19(b)(3)(A) of the
[[Page 9420]]
Act \7\ and Rule 19b-4(f)(6) thereunder.\8\ 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 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-2005-18 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-2005-18. 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 the PCX. 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-2005-18 and should be
submitted on or before March 18, 2005.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-777 Filed 2-24-05; 8:45 am]
BILLING CODE 8010-01-P
