Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Conform Its Year-End Financial Reporting Deadline Applicable to Clearing Members Primarily Regulated as Futures Commission Merchants With the Commodity Futures Trading Commission's Regulations, 43732-43733 [E5-4017]

Download as PDF 43732 Federal Register / Vol. 70, No. 144 / Thursday, July 28, 2005 / Notices 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 (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–DTC–2005–06 on the subject line. Paper Comments • Send paper comments in triplicate to Jonathan G. Katz, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–9303. All submissions should refer to File Number SR–DTC–2005–06. 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 (http://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, 100 F Street, NE., Washington, DC 20549. Copies of such filing also will be available for inspection and copying at DTC’s principal office and on DTC’s Web site at http://www.dtc.org/impNtc/ mor/index.html. 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–DTC– 2005–06 and should be submitted on or before August 18, 2005. VerDate jul<14>2003 13:40 Jul 27, 2005 Jkt 205001 For the Commission by the Division of Market Regulation, pursuant to delegated authority.10 Margaret H. McFarland, Deputy Secretary. [FR Doc. E5–4013 Filed 7–27–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–52110; No. SR–OCC–2005– 11] Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Conform Its Year-End Financial Reporting Deadline Applicable to Clearing Members Primarily Regulated as Futures Commission Merchants With the Commodity Futures Trading Commission’s Regulations July 22, 2005. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on July 14, 2005, the Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change described in Items I, II, and III below, which items have been prepared primarily by OCC. The Commission is publishing this notice to solicit comments on the rule change from interested parties. 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 OCC Rule 306, Interpretation .02 currently provides that a clearing member that is not fully registered with the SEC as a broker-dealer but that is registered with the CFTC as an FCM must file its annual audited financial report on Form 1–FR–FCM with OCC within 60 days of the end of its fiscal year unless OCC consents to an extension.3 However, under CFTC Regulation 1.10(b)(ii), an FCM has up to 90 days after the close of its fiscal year to file that report with the CFTC. Clearing members that comply with CFTC Regulation 1.10(b)(ii) have requested that OCC conform its year-end financial reporting deadline to CFTC’s to provide a consistent filing requirement. OCC believes the proposed rule change is consistent with Section 17A of the Act,4 as amended, because the change is designed to facilitate the establishment of coordinated facilities for clearance and settlement of transactions by conforming OCC’s rules to the CFTC financial reporting obligation. The proposed rule change is not inconsistent with the existing rules of OCC. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change (B) Self-Regulatory Organization’s Statement on Burden on Competition OCC does not believe that the proposed rule change would impose any burden on competition. The proposed rule change would conform OCC’s year-end financial reporting deadline applicable to clearing members primarily regulated as Futures Commission Merchants (‘‘FCM’’) with the Commodity Futures Trading Commission’s (‘‘CFTC’’) Regulation 1.10(b)(ii). (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were not and are not intended to be solicited with respect to the proposed rule change and none have been received. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective upon filing pursuant to Section 19(b)(3)(A) of the Act 5 and Rule 19b–4(f)(4) 6 thereunder because it does not adversely affect the In its filing with the Commission, OCC 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. OCC has prepared summaries, set forth in sections (A), (B), PO 00000 10 17 1 15 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). Frm 00054 Fmt 4703 Sfmt 4703 2 The Commission has modified the text of the summaries prepared by OCC. 3 This 60-day deadline mirrors the year-end financial reporting deadline applicable to brokerdealers. 4 15 U.S.C. 78q–1. 5 15 U.S.C. 78s(b)(3)(A). 6 17 CFR 240.19b–4(f)(4). E:\FR\FM\28JYN1.SGM 28JYN1 Federal Register / Vol. 70, No. 144 / Thursday, July 28, 2005 / Notices safeguarding of securities or funds in the custody or control of OCC or for which it is responsible and does not significantly affect the respective rights or obligations of the clearing agency or persons using the service. At any time within sixty 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 (http://www.sec.gov/ rules/sro.shtml) or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–OCC–2005–11 on the subject line. 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–OCC–2005–11 and should be submitted on or before August 18, 2005. For the Commission by the Division of Market Regulation, pursuant to delegated authority.7 Margaret H. McFarland, Deputy Secretary. [FR Doc. E5–4017 Filed 7–27–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–52083; File No. SR–PCX– 2005–67] Self-Regulatory Organizations; Pacific Exchange, Inc.; Order Approving Proposed Rule Change Relating to Exchange Fees and Charges July 20, 2005. On May 6, 2005, the Pacific Exchange, Inc. (‘‘PCX’’ or ‘‘Exchange’’), through its wholly-owned subsidiary PCX Equities, Inc. (‘‘PCXE’’), filed with the Securities Paper Comments and Exchange Commission • Send paper comments in triplicate (‘‘Commission’’) a proposed rule change to Jonathan G. Katz, Secretary, pursuant to section 19(b)(1) of the Securities and Exchange Commission, Securities Exchange Act of 1934 100 F Street, NE., Washington, DC (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 to 20549–9303. modify the list of eligible strategies that All submissions should refer to File apply to Option Strategy Executions Number SR–OCC–2005–11. This file retroactive to January 1, 2005. The number should be included on the proposed rule change was published for subject line if e-mail is used. To help the comment in the Federal Register on Commission process and review your June 14, 2005.3 The Commission comments more efficiently, please use received no comments on the proposal. only one method. The Commission will This order approves the proposed rule post all comments on the Commission’s change. Internet Web site (http://www.sec.gov/ After careful review, the Commission rules/sro.shtml). Copies of the finds that the proposal is consistent submission, all subsequent with the requirements of the Act and the amendments, all written statements rules and regulations thereunder with respect to the proposed rule applicable to a national securities change that are filed with the exchange.4 In particular, the Commission, and all written Commission finds that the proposed communications relating to the rule change is consistent with the proposed rule change between the requirements of section 6(b)(5) of the Commission and any person, other than Act 5 and the rules and regulations those that may be withheld from the thereunder because it is designed to public in accordance with the provisions of 5 U.S.C. 552, will be 7 17 CFR 200.30–3(a)(12). available for inspection and copying in 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. the Commission’s Public Reference 3 See Securities Exchange Act Release No. 51795 Section, 100 F Street, NE., Washington, (June 7, 2005), 70 FR 34511. DC 20549. Copies of such filings also 4 In approving this proposed rule change, the will be available for inspection and Commission notes that it has considered the copying at the principal office of OCC proposed rule’s impact on efficiency, competition and on OCC’s Web site at http:// and capital formation. See 15 U.S.C. 78c(f). 5 15 U.S.C. 78f(b)(5). www.optionsclearing.com. All VerDate jul<14>2003 13:40 Jul 27, 2005 Jkt 205001 PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 43733 foster cooperation and coordination with persons engaged in facilitating transactions in securities, to promote just and equitable principles of trade and to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Specifically, the Commission believes that the Exchange’s proposal to retroactively modify certain transaction fees associated with its short-term interest spread transactions should allow the PCX to continue to attract liquidity and conform the Exchange’s fees and rates to those previously approved under the Option Strategy Execution rate plan. It is therefore ordered, pursuant to section 19(b)(2) of the Act,6 that the proposed rule change, (SR–PCX–2005– 67) be, and hereby is, approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.7 Margaret H. McFarland, Deputy Secretary. [FR Doc. E5–4014 Filed 7–27–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–52095; File No. SR–Phlx– 2005–46] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Order Granting Accelerated Approval to Proposed Rule Change Relating to the Extension of a Pilot Program Relating to Transaction Charges Applicable to Linkage ‘‘P’’ and ‘‘P/A’’ Orders July 21, 2005. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 2 thereunder, notice is hereby given that on July 15, 2005, the Philadelphia Stock Exchange, Inc. (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I and II, below, which Items have been prepared by the Phlx. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 6 15 U.S.C. 78s(b)(2). CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 7 17 E:\FR\FM\28JYN1.SGM 28JYN1

Agencies

[Federal Register Volume 70, Number 144 (Thursday, July 28, 2005)]
[Notices]
[Pages 43732-43733]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-4017]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-52110; No. SR-OCC-2005-11]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Conform Its Year-End Financial Reporting Deadline Applicable to 
Clearing Members Primarily Regulated as Futures Commission Merchants 
With the Commodity Futures Trading Commission's Regulations

July 22, 2005.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on July 14, 2005, the Options 
Clearing Corporation (``OCC'') filed with the Securities and Exchange 
Commission (``Commission'') the proposed rule change described in Items 
I, II, and III below, which items have been prepared primarily by OCC. 
The Commission is publishing this notice to solicit comments on the 
rule change from interested parties.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The proposed rule change would conform OCC's year-end financial 
reporting deadline applicable to clearing members primarily regulated 
as Futures Commission Merchants (``FCM'') with the Commodity Futures 
Trading Commission's (``CFTC'') Regulation 1.10(b)(ii).

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, OCC 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. OCC 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 OCC.
---------------------------------------------------------------------------

(A) Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    OCC Rule 306, Interpretation .02 currently provides that a clearing 
member that is not fully registered with the SEC as a broker-dealer but 
that is registered with the CFTC as an FCM must file its annual audited 
financial report on Form 1-FR-FCM with OCC within 60 days of the end of 
its fiscal year unless OCC consents to an extension.\3\ However, under 
CFTC Regulation 1.10(b)(ii), an FCM has up to 90 days after the close 
of its fiscal year to file that report with the CFTC. Clearing members 
that comply with CFTC Regulation 1.10(b)(ii) have requested that OCC 
conform its year-end financial reporting deadline to CFTC's to provide 
a consistent filing requirement.
---------------------------------------------------------------------------

    \3\ This 60-day deadline mirrors the year-end financial 
reporting deadline applicable to broker-dealers.
---------------------------------------------------------------------------

    OCC believes the proposed rule change is consistent with Section 
17A of the Act,\4\ as amended, because the change is designed to 
facilitate the establishment of coordinated facilities for clearance 
and settlement of transactions by conforming OCC's rules to the CFTC 
financial reporting obligation. The proposed rule change is not 
inconsistent with the existing rules of OCC.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78q-1.
---------------------------------------------------------------------------

(B) Self-Regulatory Organization's Statement on Burden on Competition

    OCC does not believe that the proposed rule change would impose any 
burden on competition.

(C) Self-Regulatory Organization's Statement on Comments on the 
Proposed Rule Change Received From Members, Participants, or Others

    Written comments were not and are not intended to be solicited with 
respect to the proposed rule change and none have been received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing proposed rule change has become effective upon filing 
pursuant to Section 19(b)(3)(A) of the Act \5\ and Rule 19b-4(f)(4) \6\ 
thereunder because it does not adversely affect the

[[Page 43733]]

safeguarding of securities or funds in the custody or control of OCC or 
for which it is responsible and does not significantly affect the 
respective rights or obligations of the clearing agency or persons 
using the service. At any time within sixty 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.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(f)(4).
---------------------------------------------------------------------------

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 (http://
www.sec.gov/rules/sro.shtml) or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-OCC-2005-11 on the subject line.

Paper Comments

     Send paper comments in triplicate to Jonathan G. Katz, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-9303.
    All submissions should refer to File Number SR-OCC-2005-11. 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 (http://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, 100 F Street, 
NE., Washington, DC 20549. Copies of such filings also will be 
available for inspection and copying at the principal office of OCC and 
on OCC's Web site at http://www.optionsclearing.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-OCC-2005-11 
and should be submitted on or before August 18, 2005.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\7\
Margaret H. McFarland,
Deputy Secretary.
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

[FR Doc. E5-4017 Filed 7-27-05; 8:45 am]
BILLING CODE 8010-01-P