Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing of Proposed Rule Change To Enhance Automated Customer Account Transfer Service To Permit the Automated Notification of Changes to the Broker-Dealer of Record for Applicable Insurance Products, 20609-20611 [E5-1849]
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Federal Register / Vol. 70, No. 75 / Wednesday, April 20, 2005 / Notices
Requirements Specified in 10 CFR 50.54
(m).’’
12:45 p.m.–2:45 p.m.: Advanced
Reactor Designs for Hydrogen
Production (Open)—The Committee
will hear presentations by and hold
discussions with representatives of the
Department of Energy (DOE) regarding
the status of DOE plans and research
and development activities in support of
advanced reactor designs for hydrogen
production.
3 p.m.–4 p.m.: Significant Recent
Operating Events (Open)—The
Committee will hear a briefing by the
Chairman of the ACRS Subcommittee
on Plant Operations regarding
significant recent operating events.
4 p.m.–5 p.m.: Proactive Initiative
(Open)—The Committee will discuss
proposed options for addressing ACRS
proactive initiative on safety
management.
5:15 p.m.–6:45 p.m.: Preparation of
ACRS Reports (Open)—The Committee
will discuss proposed ACRS reports on
matters considered during this meeting.
Friday, May 6, 2005, Conference Room
T–2B3, Two White Flint North,
Rockville, Maryland
8:30 a.m.–8:35 a.m.: Opening
Remarks by the ACRS Chairman
(Open)—The ACRS Chairman will make
opening remarks regarding the conduct
of the meeting.
8:35 a.m.–10 a.m.: Steam Generator
Tube Integrity Program (Open)—The
Committee will hear presentations by
and hold discussions with
representatives of the NRC staff
regarding the objectives, technical
approach, and results of the steam
generator tube integrity program being
conducted by the Argonne National
Laboratory.
10:15 a.m.–11:45 a.m.: Digital
Instrumentation and Control (I&C)
Systems Research Plan (Open)—The
Committee will hear presentations by
and hold discussions with
representatives of the NRC staff
regarding the digital I&C systems
research plan.
11:45 a.m.–12 Noon: Reconciliation of
ACRS Comments and
Recommendations (Open)—The
Committee will discuss the responses
from the NRC Executive Director for
Operations (EDO) to comments and
recommendations included in recent
ACRS reports and letters. The EDO
responses are expected to be made
available to the Committee prior to the
meeting.
1 p.m.–2 p.m.: Future ACRS
Activities/Report of the Planning and
Procedures Subcommittee (Open)—The
Committee will discuss the
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14:54 Apr 19, 2005
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recommendations of the Planning and
Procedures Subcommittee regarding
items proposed for consideration by the
full Committee during future meetings.
Also, it will hear a report of the
Planning and Procedures Subcommittee
on matters related to the conduct of
ACRS business, including anticipated
workload and member assignments.
2 p.m.–6:30 p.m.: Preparation of
ACRS Reports (Open)—The Committee
will continue its discussion of proposed
ACRS reports.
6:30 p.m.–7 p.m.: Miscellaneous
(Open)—The Committee will discuss
matters related to the conduct of
Committee activities and matters and
specific issues that were not completed
during previous meetings, as time and
availability of information permit.
Procedures for the conduct of and
participation in ACRS meetings were
published in the Federal Register on
October 5, 2004 (69 FR 59620). In
accordance with those procedures, oral
or written views may be presented by
members of the public, including
representatives of the nuclear industry.
Electronic recordings will be permitted
only during the open portions of the
meeting. Persons desiring to make oral
statements should notify the Cognizant
ACRS staff named below five days
before the meeting, if possible, so that
appropriate arrangements can be made
to allow necessary time during the
meeting for such statements. Use of still,
motion picture, and television cameras
during the meeting may be limited to
selected portions of the meeting as
determined by the Chairman.
Information regarding the time to be set
aside for this purpose may be obtained
by contacting the Cognizant ACRS staff
prior to the meeting. In view of the
possibility that the schedule for ACRS
meetings may be adjusted by the
Chairman as necessary to facilitate the
conduct of the meeting, persons
planning to attend should check with
the Cognizant ACRS staff if such
rescheduling would result in major
inconvenience.
Further information regarding topics
to be discussed, whether the meeting
has been canceled or rescheduled, as
well as the Chairman’s ruling on
requests for the opportunity to present
oral statements and the time allotted
therefor can be obtained by contacting
Mr. Sam Duraiswamy, Cognizant ACRS
staff (301–415–7364), between 7:30 a.m.
and 4:15 p.m., ET.
ACRS meeting agenda, meeting
transcripts, and letter reports are
available through the NRC Public
Document Room at pdr@nrc.gov, or by
calling the PDR at 1–800–397–4209, or
from the Publicly Available Records
PO 00000
Frm 00095
Fmt 4703
Sfmt 4703
20609
System (PARS) component of NRC’s
document system (ADAMS) which is
accessible from the NRC Web site at
https://www.nrc.gov/reading-rm/
adams.html or https://www.nrc.gov/
reading-rm/doc-collections/ (ACRS &
ACNW Mtg schedules/agendas).
Videoteleconferencing service is
available for observing open sessions of
ACRS meetings. Those wishing to use
this service for observing ACRS
meetings should contact Mr. Theron
Brown, ACRS Audio Visual Technician
(301–415–8066), between 7:30 a.m. and
3:45 p.m., ET, at least 10 days before the
meeting to ensure the availability of this
service. Individuals or organizations
requesting this service will be
responsible for telephone line charges
and for providing the equipment and
facilities that they use to establish the
videoteleconferencing link. The
availability of videoteleconferencing
services is not guaranteed.
Dated: April 14, 2005.
Annette L. Vietti-Cook,
Secretary of the Commission.
[FR Doc. E5–1853 Filed 4–19–05; 8:45 am]
BILLING CODE 7590–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51541; File No. SR–NSCC–
2005–02]
Self-Regulatory Organizations;
National Securities Clearing
Corporation; Notice of Filing of
Proposed Rule Change To Enhance
Automated Customer Account
Transfer Service To Permit the
Automated Notification of Changes to
the Broker-Dealer of Record for
Applicable Insurance Products
April 13, 2005.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 notice is hereby given that on
April 4, 2005, the National Securities
Clearing Corporation (‘‘NSCC’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) and on
April 12, 2005, amended the proposed
rule change described in Items I, II, and
III below, which items have been
prepared primarily by NSCC. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested parties.
1 15
E:\FR\FM\20APN1.SGM
U.S.C. 78s(b)(1).
20APN1
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Federal Register / Vol. 70, No. 75 / Wednesday, April 20, 2005 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
NSCC is seeking to enhance its
Automated Customer Account Transfer
Service (‘‘ACAT Service’’) to permit the
automated notification of changes to the
broker-dealer of record for applicable
insurance products.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
NSCC 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. NSCC has prepared
summaries, set forth in sections (A), (B),
and (C) below, of the most significant
aspects of these statements.2
(A) Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
Information regarding the brokerdealer of record for an annuity or life
insurance product is maintained by the
insurance company that is the issuer of
the product. Currently there is no
mechanism within the ACAT Service
that can automate notification of
changes to the broker-dealer of record.
Annuity and life insurance products
have a manually-intensive processing
stream connected with account transfers
relative to the automated processing of
assets such as equity and debt securities
and mutual fund shares.
Under the proposed rule change, the
delivering and receiving broker-dealers
for annuities or life insurance products
would be able to communicate
information regarding the change of
broker-dealer of record through the
ACAT Service. The ACAT Service
would communicate the information
through a link to a new product of
NSCC’s Insurance Processing Services
(‘‘IPS’’) called Inforce Transactions
(‘‘IFT’’). IFT would relay the
information to the issuer insurance
company and would also communicate
to the ACAT Service whether the
insurance company had confirmed,
rejected, or requested a modification of
the change. NSCC would not debit or
credit a receiving or delivering firm for
the value of any applicable insurance
product that is part of a customer
account transfer.
2 The Commission has modified the text of the
summaries prepared by NSCC.
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14:54 Apr 19, 2005
Jkt 205001
In order for the receiving and
delivering broker-dealers and the issuer
insurance company to be able to effect
the change through the ACAT Service,
the insurance company must participate
in IPS, the receiving broker-dealer must
participate in the ACAT Service and
IPS, and the delivering broker-dealer
must participate in the ACAT Service.
Although the proposed rule change
relates to the ACAT Service as it
interfaces with IPS, NSCC is also
proposing to make certain technical
changes to the ACAT Service rule. For
purposes of bringing efficiencies to the
financial marketplace, NSCC’s Rule 50,
which governs the ACAT Service,
would cover all asset types regardless of
whether NSCC has the operational
capability to effect the transfer of such
assets. As proposed, NSCC either would
undertake to cause the asset transfer or
asset reregistration to occur or would
issue a document evidencing each
delivering firm’s obligation and each
receiving firm’s entitlement that would
result from an ACAT Service transfer.
Such instructions, regardless of their
form, are commonly referred to as
receive and deliver instructions, and
NSCC would add a definition, ‘‘ACAT
Receive and Deliver Instruction,’’ 3
relating to there instructions. NSCC is
also proposing certain technical changes
to the ACATS rule.
NSCC believes the proposed rule
change is consistent with the
requirements of section 17A of the Act 4
and the rules and regulations
thereunder applicable to NSCC because
it will automate and facilitate the
change in broker-dealer of record for
eligible insurance products associated
with account transfers, which can be
expected to reduce processing errors
and delays that are typically associated
with manual processes. This fosters
cooperation and coordination with
persons engaged in account transfers
and furthers the protection of investors
and the public interest.
(B) Self-Regulatory Organization’s
Statement on Burden on Competition
NSCC does not believe that the
proposed rule change will impose a
burden on competition not necessary or
appropriate in furtherance of the
purposes of the Act.
3 As proposed, ‘‘ACAT Receive and Deliver
Instruction’’ would be defined in NSCC Rule 1 as
follows:
‘‘The term ‘ACAT Receive and Deliver
Instruction’ shall mean such document, form, file,
report or other information issued by the
Corporation [NSCC] to a Member or to a QSD (as
defined in Rule 50), on behalf of such QSD’s
participants, which identifies Automated Customer
Account Transfer receive and deliver obligations. ’’
4 15 U.S.C. 78q–1.
PO 00000
Frm 00096
Fmt 4703
Sfmt 4703
(C) Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
NSCC has worked closely with an
industry business advisory group in
developing the enhancements that are
the subject of this rule filing. Written
comments relating to the proposed rule
change have not yet been solicited or
received. NSCC will notify the
Commission of any written comments
received by NSCC.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within thirty-five 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 ninety 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 proposed rule
change, as amended, 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–NSCC–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–NSCC–2005–02. 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
E:\FR\FM\20APN1.SGM
20APN1
Federal Register / Vol. 70, No. 75 / Wednesday, April 20, 2005 / Notices
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
filings also will be available for
inspection and copying at the principal
office of NSCC and on NSCC’s Web site
at https://www.nscc.com. 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–NSCC–
2005–02 and should be submitted on or
before May 11, 2005.
For the Commission by the Division of
Market Regulation, pursuant to delegated
authority.5
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–1849 Filed 4–19–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51545; File No. SR–NYSE–
2005–24]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by the New
York Stock Exchange, Inc. Relating to
the Definition of Research Analyst in
Rule 344 (Research Analysts and
Supervisory Analysts) and Rule 472
(Communications With the Public)
April 14, 2005.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Exchange Act’’ or the ‘‘Act’’),2 and
Rule 19b–4 thereunder,3 notice is
hereby given that on April 1, 2005, the
New York Stock Exchange, Inc.
(‘‘NYSE’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘SEC’’ or the
‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The NYSE filed the
5 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a et seq.
3 17 CFR 240.19b–4.
proposed rule change pursuant to
section 19(b)(3)(A) of the Act 4 and Rule
19b–4(f)(6) thereunder,5 which renders
the proposed rule change 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 Exchange hereby proposes an
amendment to Rule 344 (Research
Analysts and Supervisory Analysts) and
Rule 472 (Communications with the
Public) to amend the definition of
‘‘research analyst’’ in the respective
Rules to include ‘‘associated persons.’’
Below is the text of the proposed rule
change. Proposed new language is
italicized.
Rule 344. Research Analysts and
Supervisory Analysts
Research analysts and supervisory
analysts must be registered with,
qualified by, and approved by the
Exchange.
Adopted: June 18, 1964.
SUPPLEMENTARY MATERIAL:
.10 For purposes of this Rule, the term
‘‘research analyst’’ includes a member,
allied member, associated person or
employee who is primarily responsible
for the preparation of the substance of
a research report and/or whose name
appears on such report. Such research
analysts must pass a qualification
examination acceptable to the Exchange.
.11—No Change.
.12 For purposes of this Rule, the term
‘‘associated person’’ is defined as a
natural person engaged in investment
banking, or a securities or kindred
business, who is directly or indirectly
controlling or controlled by a member or
member organization, whether or not
any such person is registered, applying
for registration or exempt from
registration with the NYSE.
Rule 472. Communications With the
Public
Approval of Communications and
Research Reports
(a)—.30—No Change.
.40 For purposes of this Rule, the term
‘‘research analyst’’ includes a member,
allied member, associated person or
employee of a member or member
organization primarily responsible for,
and any person who reports directly or
indirectly to such research analyst in
connection with, the preparation of the
substance of a research report whether
1 15
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14:54 Apr 19, 2005
4 15
5 17
Jkt 205001
PO 00000
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
Frm 00097
Fmt 4703
Sfmt 4703
20611
or not any such person has the job title
of ‘‘research analyst.’’
For purposes of this Rule, the term
‘‘household member’’ means any
individual whose principal residence is
the same as the research analyst’s
principal residence. Paragraphs (e)(1),
(2), (3), (4)(i), (ii), (iii), (iv) and (v),
(k)(1)(iii)b., c., and (k)(2)(i)b. and e.
apply to any account in which a
research analyst has a financial interest,
or over which the research analyst
exercises discretion or control, other
than an investment company registered
under the Investment Company Act of
1940. The trading restrictions applicable
to research analysts and household
members (i.e., paragraphs (e)(1), (2), (3),
(4)(i), (ii), (iii), (iv) and (v); do not apply
to a ‘‘blind trust’’ account that is
controlled by a person other than the
research analyst or research analyst’s
household member where neither the
research analyst nor household member
knows of the account’s investments or
investment transactions.
.50—.120—No Change.
.130 For purposes of this Rule, the
term ‘‘associated person’’ is defined as
a natural person engaged in investment
banking, or a securities or kindred
business, who is directly or indirectly
controlling or controlled by a member or
member organization, whether or not
any such person is registered, applying
for registration or exempt from
registration with the NYSE.
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
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 amend
its definition of ‘‘research analyst’’ to
include ‘‘associated persons’’ in order to
cover natural persons who control or are
under the control of members and
member organizations.
Background. On May 10, 2002 and
July 29, 2003, the Commission
E:\FR\FM\20APN1.SGM
20APN1
]]>Agencies
[Federal Register Volume 70, Number 75 (Wednesday, April 20, 2005)]
[Notices]
[Pages 20609-20611]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-1849]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-51541; File No. SR-NSCC-2005-02]
Self-Regulatory Organizations; National Securities Clearing
Corporation; Notice of Filing of Proposed Rule Change To Enhance
Automated Customer Account Transfer Service To Permit the Automated
Notification of Changes to the Broker-Dealer of Record for Applicable
Insurance Products
April 13, 2005.
Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on April 4, 2005, the
National Securities Clearing Corporation (``NSCC'') filed with the
Securities and Exchange Commission (``Commission'') and on April 12,
2005, amended the proposed rule change described in Items I, II, and
III below, which items have been prepared primarily by NSCC. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested parties.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------
[[Page 20610]]
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
NSCC is seeking to enhance its Automated Customer Account Transfer
Service (``ACAT Service'') to permit the automated notification of
changes to the broker-dealer of record for applicable insurance
products.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of these
statements.\2\
---------------------------------------------------------------------------
\2\ The Commission has modified the text of the summaries
prepared by NSCC.
---------------------------------------------------------------------------
(A) Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
Information regarding the broker-dealer of record for an annuity or
life insurance product is maintained by the insurance company that is
the issuer of the product. Currently there is no mechanism within the
ACAT Service that can automate notification of changes to the broker-
dealer of record. Annuity and life insurance products have a manually-
intensive processing stream connected with account transfers relative
to the automated processing of assets such as equity and debt
securities and mutual fund shares.
Under the proposed rule change, the delivering and receiving
broker-dealers for annuities or life insurance products would be able
to communicate information regarding the change of broker-dealer of
record through the ACAT Service. The ACAT Service would communicate the
information through a link to a new product of NSCC's Insurance
Processing Services (``IPS'') called Inforce Transactions (``IFT'').
IFT would relay the information to the issuer insurance company and
would also communicate to the ACAT Service whether the insurance
company had confirmed, rejected, or requested a modification of the
change. NSCC would not debit or credit a receiving or delivering firm
for the value of any applicable insurance product that is part of a
customer account transfer.
In order for the receiving and delivering broker-dealers and the
issuer insurance company to be able to effect the change through the
ACAT Service, the insurance company must participate in IPS, the
receiving broker-dealer must participate in the ACAT Service and IPS,
and the delivering broker-dealer must participate in the ACAT Service.
Although the proposed rule change relates to the ACAT Service as it
interfaces with IPS, NSCC is also proposing to make certain technical
changes to the ACAT Service rule. For purposes of bringing efficiencies
to the financial marketplace, NSCC's Rule 50, which governs the ACAT
Service, would cover all asset types regardless of whether NSCC has the
operational capability to effect the transfer of such assets. As
proposed, NSCC either would undertake to cause the asset transfer or
asset reregistration to occur or would issue a document evidencing each
delivering firm's obligation and each receiving firm's entitlement that
would result from an ACAT Service transfer. Such instructions,
regardless of their form, are commonly referred to as receive and
deliver instructions, and NSCC would add a definition, ``ACAT Receive
and Deliver Instruction,'' \3\ relating to there instructions. NSCC is
also proposing certain technical changes to the ACATS rule.
---------------------------------------------------------------------------
\3\ As proposed, ``ACAT Receive and Deliver Instruction'' would
be defined in NSCC Rule 1 as follows:
``The term `ACAT Receive and Deliver Instruction' shall mean
such document, form, file, report or other information issued by the
Corporation [NSCC] to a Member or to a QSD (as defined in Rule 50),
on behalf of such QSD's participants, which identifies Automated
Customer Account Transfer receive and deliver obligations. ''
---------------------------------------------------------------------------
NSCC believes the proposed rule change is consistent with the
requirements of section 17A of the Act \4\ and the rules and
regulations thereunder applicable to NSCC because it will automate and
facilitate the change in broker-dealer of record for eligible insurance
products associated with account transfers, which can be expected to
reduce processing errors and delays that are typically associated with
manual processes. This fosters cooperation and coordination with
persons engaged in account transfers and furthers the protection of
investors and the public interest.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78q-1.
---------------------------------------------------------------------------
(B) Self-Regulatory Organization's Statement on Burden on Competition
NSCC does not believe that the proposed rule change will impose a
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act.
(C) Self-Regulatory Organization's Statement on Comments on the
Proposed Rule Change Received From Members, Participants, or Others
NSCC has worked closely with an industry business advisory group in
developing the enhancements that are the subject of this rule filing.
Written comments relating to the proposed rule change have not yet been
solicited or received. NSCC will notify the Commission of any written
comments received by NSCC.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Within thirty-five 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 ninety 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 proposed rule
change, as amended, 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-NSCC-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-NSCC-2005-02. 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
[[Page 20611]]
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 filings also will be available for inspection and copying at
the principal office of NSCC and on NSCC's Web site at https://
www.nscc.com. 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-
NSCC-2005-02 and should be submitted on or before May 11, 2005.
For the Commission by the Division of Market Regulation,
pursuant to delegated authority.\5\
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\5\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-1849 Filed 4-19-05; 8:45 am]
BILLING CODE 8010-01-P
