Self-Regulatory Organizations; Notice of Filing of Proposed Rule Change by the New York Stock Exchange, Inc., To Adopt New Rule 401A (“Customer Complaints”), and an Amendment to Rule 476A (“Imposition of Fines for Minor Violations of Rules”), Adding Rule 401A to the List of Exchange Rule Violations and Fines Applicable Thereto Pursuant to Rule 476A, 11040-11042 [E5-915]
Download as PDF
<![CDATA[
11040
Federal Register / Vol. 70, No. 43 / Monday, March 7, 2005 / Notices
information with respect to, and
facilitating transactions in securities,
and to protect investors and the public
interest. The proposed rule change will
establish clear standards for
determining when the obligation to
report a cancelled trade is triggered, and
thus it assists members in complying
with the reporting obligation. The clear
standards also will make it easier for the
NASD to audit for compliance with the
rule.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Nasdaq 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, as amended.
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 foregoing 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,10
or such shorter time as the Commission
may designate, it has become effective
pursuant to 19(b)(3)(A) of the Act 11 and
Rule 19b–4(f)(6) 12 thereunder.
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.13
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:
10 Nasdaq has provided the Commission the prefiling notification as required by subparagraph (iii)
of Rule 19b–4(f)(6), and intends to make the change
operative 60 days after the date of filing.
11 15 U.S.C. 78s(b)(3)(A).
12 17 CFR 240.19b–4(f)(6).
13 15 U.S.C. 78s(b)(3)(C).
VerDate jul<14>2003
18:15 Mar 04, 2005
Jkt 205001
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–NASD–2005–027 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–NASD–2005–027. 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
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 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–
2005–027 and should be submitted on
or before March 28, 2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.14
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 05–4293 Filed 3–4–05; 8:45 am]
BILLING CODE 8010–01–P
PO 00000
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51276; File No. SR–NYSE–
2004–59]
Self-Regulatory Organizations; Notice
of Filing of Proposed Rule Change by
the New York Stock Exchange, Inc., To
Adopt New Rule 401A (‘‘Customer
Complaints’’), and an Amendment to
Rule 476A (‘‘Imposition of Fines for
Minor Violations of Rules’’), Adding
Rule 401A to the List of Exchange Rule
Violations and Fines Applicable
Thereto Pursuant to Rule 476A
February 28, 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 October
21, 2004, the New York Stock Exchange,
Inc. (‘‘NYSE’’ or ‘‘Exchange’’), filed with
the Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’)
the proposed rule change as described
in Items I, II and III below, which Items
have been prepared by NYSE. 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
Proposed new Exchange Rule 401A
(‘‘Customer Complaints’’) would require
members and member organizations (the
‘‘Membership’’ or ‘‘Member Firms’’) to
send acknowledgement of any customer
complaint subject to the reporting
requirements of Rule 351(d) within 15
business days of receiving such
complaint, and to respond to the issues
raised in such complaint within a
reasonable period of time. The proposed
corresponding amendment to Rule 476A
(‘‘Imposition of Fines for Minor
Violations of Rules’’) would allow the
Exchange to sanction the Membership’s
less serious violations of the
acknowledgement provisions of
proposed new Rule 401A pursuant to
the minor fine provisions of Rule 476A.
Below is the text of the proposed rule
change. Proposed new language is
italicized.
*
*
*
*
*
Rule 401A
Customer Complaints
(a) For every customer complaint they
receive that is subject to the reporting
requirements of Rule 351(d), members
and member organizations must:
1 15
14 17
CFR 200.30–3(a)(12).
Frm 00106
Fmt 4703
Sfmt 4703
2 17
E:\FR\FM\07MRN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
07MRN1
Federal Register / Vol. 70, No. 43 / Monday, March 7, 2005 / Notices
(1) Acknowledge receipt of the
complaint within 15 business days of
receiving it, and
(2) Respond to the issues raised in the
complaint within a reasonable period of
time.
(b) Each acknowledgement and
response required by this rule must be
conveyed to the complaining customer
by appropriate method:
(1) Acknowledgements and responses
to written complaints must be either:
(i) In writing, mailed to the
complaining customer’s last known
address, or
(ii) Electronically transmitted to the email address from which the complaint
was sent (method only permissible for
electronically transmitted complaints).
(2) Acknowledgements and responses
to verbal complaints must be either:
(i) In writing, mailed to the
complaining customer’s last known
address, or
(ii) Made verbally to the complaining
customer, and recorded in a log of
verbal acknowledgements and
responses to customer complaints.
(c) Written records of the
acknowledgements, responses, and logs
required by this rule must be retained in
accordance with Rule 440 (‘‘Books and
Records’’).
*
*
*
*
*
Rule 476A
Imposition of Fines for Minor Violation
of Rules
(Rule 476A (a) through (e) unchanged)
Supplementary Material: List of
Exchange Rule Violations and Fines
Applicable Thereto Pursuant to Rule
476A
*
*
*
*
*
Rule 387 requirements for customer
COD/POD transactions
Rule 392 notification requirements
Failure to acknowledge customer
complaint within 15 business days, as
required by Rule 401A
Rule 407 requirements for
transactions of employees of the
Exchange, members or member
organizations
Rule 407A reporting and notification
requirements for members
*
*
*
*
*
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
NYSE included statements concerning
the purpose of and basis for the
proposed rule change and discussed any
comments it received on the proposed
VerDate jul<14>2003
18:15 Mar 04, 2005
Jkt 205001
rule change. The text of these statements
may be examined at the places specified
in Item IV below. NYSE 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
Background. NYSE Rule 351
(‘‘Reporting Requirements’’) specifies
several occurrences, incidents, and
periodic information that the
Membership must report to the
Exchange. NYSE Rule 351(d) requires
the Membership to report to the
Exchange statistical information
regarding specified verbal and written
customer complaints.3 Each complaint
is classified by product and category,
and attributed to a registered
representative and branch office. The
Exchange collects, aggregates, and
analyzes these statistics to identify and
monitor regulatory problems, focus its
field examinations of Member Firms,
identify content for its qualification
examinations, and modify its continuing
education programs. However, there is
currently no NYSE rule requiring the
Membership to respond to, or even
acknowledge, such complaints. Recent
Exchange examinations revealed several
instances in which Member Firms did
not, in fact, respond to or acknowledge
customer complaints.
2. Statutory Basis
Proposed new Rule 401A and the
corresponding amendment to NYSE
Rule 476A are consistent with the
requirements of Section 6(b)(5) 4 of the
Exchange Act, which requires that the
rules of the Exchange be designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade and, in
general, to protect investors and the
public interest in that it improves
customer relations, supervision of
registered representatives, early
detection of potential regulatory
problems, prevention of future
securities violations, identification of
issues requiring more thorough coverage
in continuing education programs, and
oversight of the Membership. The
proposed rule change is also consistent
with Section 6(b)(6) 5 of the Exchange
3 NYSE Information Memo No. 03–38, dated
September 19, 2003, specifies that ‘‘[a]ll complaints,
regardless of how delivered (oral, written, e-mail or
fax), are required to be reported to the Exchange.’’
4 15 U.S.C. 78f(b)(5).
5 15 U.S.C. 78f(b)(6).
PO 00000
Frm 00107
Fmt 4703
Sfmt 4703
11041
Act, which requires the rules of the
Exchange to provide for its members
and persons associated with its
members to be appropriately disciplined
for violations of those rules through
fitting sanctions, including the
imposition of fines.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes that the
proposal does not impose any burden
on competition not necessary or
appropriate in furtherance of the
purposes of the Exchange 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
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the self-regulatory
organization consents, the Commission
will:
(A) By order approve such proposed
rule change, or
(B) Institute proceedings to determine
whether the proposed rule change
should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposal 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 e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSE–2004–59 in 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–NYSE–2004–59. This file
number should be included on the
E:\FR\FM\07MRN1.SGM
07MRN1
11042
Federal Register / Vol. 70, No. 43 / Monday, March 7, 2005 / Notices
subject line of 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 NYSE.
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
submission should refer to File Number
SR–NYSE–2004–59 and should be
submitted on or before March 28, 2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.6
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–915 Filed 3–4–05; 8:45 am]
BILLING CODE 8010–01–P
SMALL BUSINESS ADMINISTRATION
[License No. 09/79–0432]
Telesoft Partners II SBIC, L.P.; Notice
Seeking Exemption Under Section 312
of the Small Business Investment Act,
Conflicts of Interest
Notice is hereby given that Telesoft
Partners II SBIC, L.P., 1450 Fashion
Island Blvd., Suite 610, San Mateo, CA
94404, 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 § 107.730, Financings
which Constitute Conflicts of Interest of
the Small Business Administration
(‘‘SBA’’) Rules and Regulations (13 CFR
107.730). Telesoft Partners II SBIC, L.P.
proposes to provide equity/debt security
financing to LogLogic, Inc. The
financing is contemplated for working
capital and general corporate purposes.
The financing is brought within the
purview of § 107.730(a)(1) of the
Regulations because Telesoft Partners II
QP, L.P., Telesoft Partners II, L.P. and
Telesoft NP Employee Fund, LLC, all
Associates of Telesoft Partners II SBIC,
L.P., own more than ten percent of
LogLogic, 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: February 14, 2005.
Jaime Guzman-Fournier,
Acting Associate Administrator for
Investment.
[FR Doc. 05–4319 Filed 3–4–05; 8:45 am]
BILLING CODE 8025–01–P
SMALL BUSINESS ADMINISTRATION
Public Federal Regulatory
Enforcement Fairness Hearing; Region
V Regulatory Fairness Board
The Small Business Administration
Region V Regulatory Fairness Board and
the SBA Office of the National
Ombudsman will hold a Public Hearing
on Thursday, March 24, 2005 at 8:30
a.m. at the Marion County Public
Library at Glendale Mall, 6101 N.
Keystone Avenue, Indianapolis, IN
46220, to receive comments and
testimony from small business owners,
small government entities, and small
non-profit organizations concerning
regulatory enforcement and compliance
actions taken by federal agencies.
Anyone wishing to attend or to make
a presentation must contact Francine
Protogere in writing or by fax, in order
to be put on the agenda. Francine
Protogere, District Counsel, SBA Indiana
District Office, 429 N. Pennsylvania
Street, Suite 100, Indianapolis, IN
46204, phone (317) 226–7272 Ext. 270,
fax (317) 226–7259, e-mail:
Francine.Protogere@sba.gov.
For more information, see our Web
site at https://www.sba.gov/ombudsman.
Dated: February 28, 2005.
Peter Sorum,
Senior Advisor, Office of the National
Ombudsman.
[FR Doc. 05–4320 Filed 3–4–05; 8:45 am]
BILLING CODE 8025–01–P
DEPARTMENT OF STATE
[Public Notice 5008]
Notice Convening an Accountability
Review Board for the November 24,
2004 Murder of Mr. James C. Mollen,
an Employee of the U.S. Embassy in
Baghdad, Iraq
Pursuant to Section 301 of the
Omnibus Diplomatic Security and
Antiterrorism Act of 1986, as amended
(22 U.S.C. 4831 et seq.), I have
determined that the November 24, 2004
shooting death of Mr. James C. Mollen,
an employee of the U.S. Embassy in
Baghdad, Iraq, involved loss of life at or
related to a U.S. mission abroad.
Therefore, I am convening an
Accountability Review Board, as
required by that statute, to examine the
facts and the circumstances of the attack
and to report to me such findings and
recommendations as it deems
appropriate, in keeping with the
attached mandate.
I have appointed Edward G. Lanpher,
a retired U.S. ambassador, as Chair of
the Board. He will be assisted by M. Bart
Flaherty, Frederick Mecke, Mike
Absher, Laurie Tracy and by Executive
Secretary to the Board, Bruce Thomas.
They bring to their deliberations
distinguished backgrounds in
government service and/or in the
private sector.
The Board will submit its conclusions
and recommendations to me within 60
days of its first meeting, unless the
Chair determines a need for additional
time. Appropriate action will be taken
and reports submitted to Congress on
any recommendations made by the
Board.
Anyone with information relevant to
the Board’s examination of this incident
should contact the Board promptly at
(202) 203–7149 or send a fax to the
Board at (202) 203–7143.
This notice shall be published in the
Federal Register.
Dated: February 28, 2005.
Condoleezza Rice,
Secretary of State, Department of State.
[FR Doc. 05–4358 Filed 3–4–05; 8:45 am]
BILLING CODE 4710–35–P
DEPARTMENT OF TRANSPORTATION
Office of the Secretary
[OST Docket No. 2005–20490]
Air Carrier Access Act Aircraft
Inspection and Certification Initiative
Office of the Secretary,
Department of Transportation (DOT).
AGENCY:
6 17
CFR 200.30–3(a)(12).
VerDate jul<14>2003
18:15 Mar 04, 2005
Jkt 205001
PO 00000
Frm 00108
Fmt 4703
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E:\FR\FM\07MRN1.SGM
07MRN1
]]>Agencies
[Federal Register Volume 70, Number 43 (Monday, March 7, 2005)]
[Notices]
[Pages 11040-11042]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-915]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-51276; File No. SR-NYSE-2004-59]
Self-Regulatory Organizations; Notice of Filing of Proposed Rule
Change by the New York Stock Exchange, Inc., To Adopt New Rule 401A
(``Customer Complaints''), and an Amendment to Rule 476A (``Imposition
of Fines for Minor Violations of Rules''), Adding Rule 401A to the List
of Exchange Rule Violations and Fines Applicable Thereto Pursuant to
Rule 476A
February 28, 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 October 21, 2004, the New York Stock Exchange, Inc. (``NYSE'' or
``Exchange''), filed with the Securities and Exchange Commission
(``Commission'' or ``SEC'') the proposed rule change as described in
Items I, II and III below, which Items have been prepared by NYSE. 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.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Proposed new Exchange Rule 401A (``Customer Complaints'') would
require members and member organizations (the ``Membership'' or
``Member Firms'') to send acknowledgement of any customer complaint
subject to the reporting requirements of Rule 351(d) within 15 business
days of receiving such complaint, and to respond to the issues raised
in such complaint within a reasonable period of time. The proposed
corresponding amendment to Rule 476A (``Imposition of Fines for Minor
Violations of Rules'') would allow the Exchange to sanction the
Membership's less serious violations of the acknowledgement provisions
of proposed new Rule 401A pursuant to the minor fine provisions of Rule
476A. Below is the text of the proposed rule change. Proposed new
language is italicized.
* * * * *
Rule 401A
Customer Complaints
(a) For every customer complaint they receive that is subject to
the reporting requirements of Rule 351(d), members and member
organizations must:
[[Page 11041]]
(1) Acknowledge receipt of the complaint within 15 business days of
receiving it, and
(2) Respond to the issues raised in the complaint within a
reasonable period of time.
(b) Each acknowledgement and response required by this rule must be
conveyed to the complaining customer by appropriate method:
(1) Acknowledgements and responses to written complaints must be
either:
(i) In writing, mailed to the complaining customer's last known
address, or
(ii) Electronically transmitted to the e-mail address from which
the complaint was sent (method only permissible for electronically
transmitted complaints).
(2) Acknowledgements and responses to verbal complaints must be
either:
(i) In writing, mailed to the complaining customer's last known
address, or
(ii) Made verbally to the complaining customer, and recorded in a
log of verbal acknowledgements and responses to customer complaints.
(c) Written records of the acknowledgements, responses, and logs
required by this rule must be retained in accordance with Rule 440
(``Books and Records'').
* * * * *
Rule 476A
Imposition of Fines for Minor Violation of Rules
(Rule 476A (a) through (e) unchanged)
Supplementary Material: List of Exchange Rule Violations and Fines
Applicable Thereto Pursuant to Rule 476A
* * * * *
Rule 387 requirements for customer COD/POD transactions
Rule 392 notification requirements
Failure to acknowledge customer complaint within 15 business days,
as required by Rule 401A
Rule 407 requirements for transactions of employees of the
Exchange, members or member organizations
Rule 407A reporting and notification requirements for members
* * * * *
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, NYSE 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. NYSE 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
Background. NYSE Rule 351 (``Reporting Requirements'') specifies
several occurrences, incidents, and periodic information that the
Membership must report to the Exchange. NYSE Rule 351(d) requires the
Membership to report to the Exchange statistical information regarding
specified verbal and written customer complaints.\3\ Each complaint is
classified by product and category, and attributed to a registered
representative and branch office. The Exchange collects, aggregates,
and analyzes these statistics to identify and monitor regulatory
problems, focus its field examinations of Member Firms, identify
content for its qualification examinations, and modify its continuing
education programs. However, there is currently no NYSE rule requiring
the Membership to respond to, or even acknowledge, such complaints.
Recent Exchange examinations revealed several instances in which Member
Firms did not, in fact, respond to or acknowledge customer complaints.
---------------------------------------------------------------------------
\3\ NYSE Information Memo No. 03-38, dated September 19, 2003,
specifies that ``[a]ll complaints, regardless of how delivered
(oral, written, e-mail or fax), are required to be reported to the
Exchange.''
---------------------------------------------------------------------------
2. Statutory Basis
Proposed new Rule 401A and the corresponding amendment to NYSE Rule
476A are consistent with the requirements of Section 6(b)(5) \4\ of the
Exchange Act, which requires that the rules of the Exchange be designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade and, in general, to protect
investors and the public interest in that it improves customer
relations, supervision of registered representatives, early detection
of potential regulatory problems, prevention of future securities
violations, identification of issues requiring more thorough coverage
in continuing education programs, and oversight of the Membership. The
proposed rule change is also consistent with Section 6(b)(6) \5\ of the
Exchange Act, which requires the rules of the Exchange to provide for
its members and persons associated with its members to be appropriately
disciplined for violations of those rules through fitting sanctions,
including the imposition of fines.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b)(5).
\5\ 15 U.S.C. 78f(b)(6).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange believes that the proposal does not impose any burden
on competition not necessary or appropriate in furtherance of the
purposes of the Exchange 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
Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
(A) By order approve such proposed rule change, or
(B) Institute proceedings to determine whether the proposed rule
change should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposal 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 e-mail to rule-comments@sec.gov. Please include File
Number SR-NYSE-2004-59 in 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-NYSE-2004-59. This
file number should be included on the
[[Page 11042]]
subject line of 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 NYSE.
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 submission should refer to File Number SR-NYSE-2004-59
and should be submitted on or before March 28, 2005.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-915 Filed 3-4-05; 8:45 am]
BILLING CODE 8010-01-P
