Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Delay Implementation Date of Revisions to the Series 4 Examination Program, 28967-28968 [E5-2502]
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Federal Register / Vol. 70, No. 96 / Thursday, May 19, 2005 / Notices
All submissions should refer to File
Number SR–Amex–2005–039. This
filenumber 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 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 the File
Number SR–Amex–2005–039 and
should be submitted on or before June
9, 2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E5–2501 Filed 5–18–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51690; File No. SR–Amex–
2005–045]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change to Delay
Implementation Date of Revisions to
the Series 4 Examination Program
May 12, 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 April 27,
2005, the American Stock Exchange LLC
(‘‘Amex’’ 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 Amex. Amex has
designated the proposed rule change as
one constituting a stated policy,
practice, or interpretation with respect
to the meaning, administration, or
enforcement of an existing rule of the
self-regulatory organization pursuant to
section 19(b)(3)(A)(i) of the Act 3 and
Rule 19b–4(f)(1) 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
Amex proposes to delay until no later
than November 30, 2005 the
implementation date of the recent
revisions to the Limited Principal—
Registered Options (Series 4)
examination program, including the
study outline and selection
specifications (‘‘Series 4 Examination’’).
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
Amex 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. 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
On April 8, 2005, Amex filed with the
SEC for immediate effectiveness
revisions to the Series 4 Examination.5
The Series 4 Examination is an
industry-wide examination that
qualifies an individual to function as a
Registered Options Principal. The Series
4 Examination is shared by Amex and
the following SROs: The National
Association of Securities Dealers, Inc.
(‘‘NASD’’), the Chicago Board Options
Exchange, Incorporated, the New York
Stock Exchange, Inc., the Pacific
Exchange, Inc. (‘‘PCX’’), and the
Philadelphia Stock Exchange, Inc.
NASD and PCX filed with the SEC
3 15
U.S.C. 78s(b)(3)(A)(i).
CFR 240.19b–4(f)(1).
5 See Securities Exchange Act Release No. 51689
(May 12, 2005) (SR–Amex–2005–039).
12 17
CFR 200.30–3(a)(12).
1 5 U.S.C. 78s(b)(1).
2 17 CFR 240.19–4.
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22:14 May 18, 2005
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28967
similar revisions to the Series 4
Examination.6 NASD originally had
proposed to implement the Series 4
Examination revisions by no later than
April 29, 2005. However, due to
administrative issues, NASD is
proposing to delay until no later than
November 30, 2005, the implementation
date of the revisions. As such, Amex
will announce the revisions to the
Series 4 Examination and the
implementation date in a Notice to
Members to be published no later than
October 31, 2005.
Amex understands that NASD and
PCX have filed with the SEC similar
proposed rule changes to delay until no
later than November 30, 2005, the
implementation date of the revisions to
the Series 4 Examination.7
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
section 6 of the Act 8 in general and
furthers the objectives of section
6(c)(3) 9 which authorize Amex to
prescribe standards of training,
experience and competence for persons
associated with Amex members.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes that the
proposed rule change will impose no
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
No written comments were either
solicited or received by the Exchange on
this proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become
effective pursuant to section
19(b)(3)(A)(i) of the Act 10 and Rule 19b–
4(f)(1) thereunder,11 in that the
proposed rule change constitutes a
stated policy, practice, or interpretation
with respect to the meaning,
administration, or enforcement of an
existing rule of the Amex. NASD
6 See Securities Exchange Act Release No. 51216
(February 16, 2005), 70 FR 8866 (February 23, 2005)
(SR–NASD–2005–025); see also SR–PCX–2005–51.
7 See Securities Exchange Act Release No. 51688
(May 12, 2005) (SR–NASD–2005–053) and SR–
PCX–2005–057.
8 15 U.S.C. 78f.
9 15 U.S.C. 78f(c)(3).
10 15 U.S.C. 78s(b)(3)(A)(i).
11 17 CFR 240.19b–4(f)(1).
E:\FR\FM\19MYN1.SGM
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28968
Federal Register / Vol. 70, No. 96 / Thursday, May 19, 2005 / Notices
proposes to implement the Series 4
Examination revisions by no later than
November 30, 2005. Amex will
announce the revisions to the Series 4
Examination and the implementation
date in a Notice to Members to be
published no later than October 31,
2005.
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• 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–2005–045 on the
subject line.
should submit only information that
you wish to make available publicly. All
submissions should refer to the File
Number SR–Amex–2005–045 and
should be submitted on or before June
9, 2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E5–2502 Filed 5–18–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
22:14 May 18, 2005
Jkt 205001
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The CBOE proposes to amend its Fees
Schedule to waive May 2005 member
dues for CBOE market-makers who
automatically execute 2000 contracts or
more during May 2005 in hybrid
options classes. Below is the text of the
proposed rule change, as amended.
Proposed new language is italicized;
proposed deletions are in [brackets].
CHICAGO BOARD OPTIONS
EXCHANGE, INC.
FEES SCHEDULE
[Release No. 34–51687; File No. SR–CBOE–
2005–36]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Inc.; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change and Amendment Nos. 1 and 2
Thereto Relating to Waiver of May 2005
Member Dues for CBOE Market-Makers
May 12, 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 May 2,
Paper Comments
2005, the Chicago Board Options
Exchange, Inc. (‘‘CBOE’’ or ‘‘Exchange’’)
• Send paper comments in triplicate
filed with the Securities and Exchange
to Jonathan G. Katz, Secretary,
Commission (‘‘Commission’’) the
Securities and Exchange Commission,
proposed rule change as described in
450 Fifth Street, NW., Washington, DC
Items I, II and III below, which Items
20549–0609.
have been prepared by the CBOE. On
All submissions should refer to File
May 4, 2005, the CBOE submitted
Number SR–Amex–2005–045. This file
Amendment No. 1 to the proposed rule
number should be included on the
3
subject line if e-mail is used. To help the change. On May 5, 2005, the CBOE
submitted Amendment No. 2 to the
Commission process and review your
proposed rule change.4 The CBOE has
comments more efficiently, please use
designated this proposal as one
only one method. The Commission will
post all comments on the Commission’s establishing or changing a due, fee, or
other charge imposed by the CBOE
Internet Web site (https://www.sec.gov/
under Section 19(b)(3)(A)(ii) of the Act,5
rules/sro.shtml). Copies of the
and Rule 19b–4(f)(2) thereunder,6 which
submission, all subsequent
renders the proposal effective upon
amendments, all written statements
filing with the Commission. The
with respect to the proposed rule
Commission is publishing this notice to
change that are filed with the
solicit comments on the proposed rule
Commission, and all written
communications relating to the
12 17 CFR 200.30–3(a)(12).
proposed rule change between the
1 15 U.S.C. 78s(b)(1).
Commission and any person, other than
2 17 CFR 240.19b–4.
those that may be withheld from the
3 In Amendment No. 1, the CBOE amended the
public in accordance with the
rule text of the proposed rule change to clarify that
provisions of 5 U.S.C. 552, will be
the dues waiver applies to the Reduced Value
Russell 2000 index options, which are a hybrid
available for inspection and copying at
options class.
the principal office of the Amex. All
4 In Amendment No. 2, the CBOE made technical
comments received will be posted
corrections to the rule text of the proposed rule
without change; the Commission does
change.
5 15 U.S.C. 78s(b)(3)(A)(ii).
not edit personal identifying
6 17 CFR 240.19b–4(f)(2).
information from submissions. You
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change, as amended, from interested
persons.
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[APRIL 25] MAY 2, 2005
1.–4. Unchanged.
Notes: (1)–(15) Unchanged.
5.–8. Unchanged.
9. MEMBER DUES* $450 per month
* The Exchange will waive May 2005
member dues for CBOE market-makers
who automatically execute 2000
contracts or more (through the use of
‘‘M’’ orders) during May 2005 in hybrid
options classes, i.e., all equity options
classes and the MNX, QQQQ, Reduced
Value Russell 2000 and SPDR options
classes.
10.–23. Unchanged.
*
*
*
*
*
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
CBOE included statements concerning
the purpose of and basis for its proposed
rule change and discussed any
comments it had received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
CBOE has prepared summaries, set forth
in Sections A, B and C below, of the
most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
On January 10, 2005, the Commission
approved a CBOE rule proposal (SR–
CBOE–2005–01) 7 to allow CBOE market
participants 8 the ability to submit
7 See Securities Exchange Act Release No. 51003
(January 10, 2005), 70 FR 2682 (January 14, 2005).
8 CBOE Rule 6.45A defines a market participant
as a market-maker, an in-crowd DPM, an e-DPM, a
E:\FR\FM\19MYN1.SGM
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]]>Agencies
[Federal Register Volume 70, Number 96 (Thursday, May 19, 2005)]
[Notices]
[Pages 28967-28968]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-2502]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-51690; File No. SR-Amex-2005-045]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change to
Delay Implementation Date of Revisions to the Series 4 Examination
Program
May 12, 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 April 27, 2005, the American Stock Exchange LLC (``Amex'' 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 Amex.
Amex has designated the proposed rule change as one constituting a
stated policy, practice, or interpretation with respect to the meaning,
administration, or enforcement of an existing rule of the self-
regulatory organization pursuant to section 19(b)(3)(A)(i) of the Act
\3\ and Rule 19b-4(f)(1) 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\ 5 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(i).
\4\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Amex proposes to delay until no later than November 30, 2005 the
implementation date of the recent revisions to the Limited Principal--
Registered Options (Series 4) examination program, including the study
outline and selection specifications (``Series 4 Examination'').
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, Amex 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. 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
On April 8, 2005, Amex filed with the SEC for immediate
effectiveness revisions to the Series 4 Examination.\5\ The Series 4
Examination is an industry-wide examination that qualifies an
individual to function as a Registered Options Principal. The Series 4
Examination is shared by Amex and the following SROs: The National
Association of Securities Dealers, Inc. (``NASD''), the Chicago Board
Options Exchange, Incorporated, the New York Stock Exchange, Inc., the
Pacific Exchange, Inc. (``PCX''), and the Philadelphia Stock Exchange,
Inc. NASD and PCX filed with the SEC similar revisions to the Series 4
Examination.\6\ NASD originally had proposed to implement the Series 4
Examination revisions by no later than April 29, 2005. However, due to
administrative issues, NASD is proposing to delay until no later than
November 30, 2005, the implementation date of the revisions. As such,
Amex will announce the revisions to the Series 4 Examination and the
implementation date in a Notice to Members to be published no later
than October 31, 2005.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 51689 (May 12, 2005)
(SR-Amex-2005-039).
\6\ See Securities Exchange Act Release No. 51216 (February 16,
2005), 70 FR 8866 (February 23, 2005) (SR-NASD-2005-025); see also
SR-PCX-2005-51.
---------------------------------------------------------------------------
Amex understands that NASD and PCX have filed with the SEC similar
proposed rule changes to delay until no later than November 30, 2005,
the implementation date of the revisions to the Series 4
Examination.\7\
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release No. 51688 (May 12, 2005)
(SR-NASD-2005-053) and SR-PCX-2005-057.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with section 6 of the Act \8\ in general and furthers the objectives of
section 6(c)(3) \9\ which authorize Amex to prescribe standards of
training, experience and competence for persons associated with Amex
members.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f.
\9\ 15 U.S.C. 78f(c)(3).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange believes that the proposed rule change will impose no
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
No written comments were either solicited or received by the
Exchange on this proposal.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become effective pursuant to section
19(b)(3)(A)(i) of the Act \10\ and Rule 19b-4(f)(1) thereunder,\11\ in
that the proposed rule change constitutes a stated policy, practice, or
interpretation with respect to the meaning, administration, or
enforcement of an existing rule of the Amex. NASD
[[Page 28968]]
proposes to implement the Series 4 Examination revisions by no later
than November 30, 2005. Amex will announce the revisions to the Series
4 Examination and the implementation date in a Notice to Members to be
published no later than October 31, 2005.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A)(i).
\11\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
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-2005-045 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-2005-045. 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 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 the File Number SR-Amex-2005-045 and should be
submitted on or before June 9, 2005.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E5-2502 Filed 5-18-05; 8:45 am]
BILLING CODE 8010-01-P
