Self-Regulatory Organizations; New York Stock Exchange, Inc.; Order Granting Approval to Proposed Rule Change Relating to Trade Shredding, 66480 [E5-6053]

Download as PDF 66480 Federal Register / Vol. 70, No. 211 / Wednesday, November 2, 2005 / Notices in furtherance of the purposes of the Act.12 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: For the Commission, by the Division of Market Regulation, pursuant to delegated authority.13 Jonathan G. Katz, Secretary. [FR Doc. E5–6052 Filed 11–1–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–52683; File No. SR–NYSE– 2005–62] 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–MSRB–2005–15 on the subject line. Self-Regulatory Organizations; New York Stock Exchange, Inc.; Order Granting Approval to Proposed Rule Change Relating to Trade Shredding October 26, 2005. I. Introduction On September 9, 2005, the New York Stock Exchange, Inc. (‘‘NYSE’’ or • Send paper comments in triplicate ‘‘Exchange’’) filed with the Securities to Jonathan G. Katz, Secretary, and Exchange Commission Securities and Exchange Commission, (‘‘Commission’’) pursuant to Section Station Place, 100 F Street, NE., 19(b)(1) of the Securities Exchange Act Washington, DC 20549–9303. of 1934, as amended, (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule All submissions should refer to File change relating to trade shredding. The Number SR–MSRB–2005–15. This file proposed rule change was published for number should be included on the subject line if e-mail is used. To help the notice and comment in the Federal Register on September 21, 2005.3 The Commission process and review your Commission received no comments on comments more efficiently, please use only one method. The Commission will the proposal. This order approves the post all comments on the Commission’s proposed rule change. Internet Web site (https://www.sec.gov/ II. Description of the Proposal rules/sro.shtml). Copies of the The NYSE proposed to add NYSE submission, all subsequent Rule 123G to prohibit members, member amendments, all written statements organizations and associated persons with respect to the proposed rule from unbundling orders for execution change that are filed with the for the primary purpose of maximizing Commission, and all written a monetary or like payment to the communications relating to the member, member organization or proposed rule change between the associated person without regard for the Commission and any person, other than best interests of the customer. those that may be withheld from the III. Discussion and Commission public in accordance with the Findings provisions of 5 U.S.C. 552, will be available for inspection and copying in The Commission has reviewed the Commission’s Public Reference carefully the proposed rule change and Room. Copies of such filing also will be finds that it is consistent with the available for inspection and copying at requirements of the Act and the rules the principal office of the MSRB. All and regulations thereunder applicable to comments received will be posted a national securities exchange,4 without change; the Commission does particularly Section 6(b)(5) of the Act not edit personal identifying which, among other things, requires that information from submissions. You the rules of a national securities should submit only information that 13 17 CFR 200.30–3(a)(12). you wish to make available publicly. All 1 15 U.S.C. 78s(b)(1). submissions should refer to File 2 17 CFR 240.19b–4. Number SR–MSRB–2005–15 and should 3 See Securities Exchange Act Release No. 52435 be submitted on or before November 23, (September 14, 2005), 70 FR 55440. 2005. 4 Paper Comments 12 See Section 19(b)(3)(C) of the Act, 15 U.S.C. 78s(b)(3)(C). VerDate Aug<31>2005 17:22 Nov 01, 2005 Jkt 208001 In approving this proposed rule change, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). PO 00000 Frm 00134 Fmt 4703 Sfmt 4703 exchange be designed to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating securities transactions, 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.5 The Commission believes that the proposed rule change should help eliminate the distortive practice of trade shredding, and, therefore, promote just and equitable principles of trade. IV. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act,6 that the proposed rule change (File No. SR– NYSE–2005–62), be and hereby is, approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.7 Jonathan G. Katz, Secretary. [FR Doc. E5–6053 Filed 11–1–05; 8:45 am] BILLING CODE 8010–01–P SOCIAL SECURITY ADMINISTRATION Agency Information Collection Activities: Proposed Request and Comment Request The Social Security Administration (SSA) publishes a list of information collection packages that will require clearance by the Office of Management and Budget (OMB) in compliance with Pub. L. 104–13, the Paperwork Reduction Act of 1995, effective October 1, 1995. The information collection packages that may be included in this notice are for new information collections, revisions to OMB-approved information collections, and extensions (no change) of OMB-approved information collections. SSA is soliciting comments on the accuracy of the agency’s burden estimate; the need for the information; its practical utility; ways to enhance its quality, utility, and clarity; and on ways to minimize burden on respondents, including the use of automated collection techniques or other forms of information technology. Written comments and recommendations regarding the information collection(s) should be submitted to the OMB Desk Officer and the SSA Reports Clearance Officer. The information can be mailed 5 15 U.S.C. 78f(b)(5). U.S.C. 78s(b)(2). 7 17 CFR 200.30–3(a)(12). 6 15 E:\FR\FM\02NON1.SGM 02NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 70, Number 211 (Wednesday, November 2, 2005)]
[Notices]
[Page 66480]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-6053]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-52683; File No. SR-NYSE-2005-62]


Self-Regulatory Organizations; New York Stock Exchange, Inc.; 
Order Granting Approval to Proposed Rule Change Relating to Trade 
Shredding

October 26, 2005.

I. Introduction

    On September 9, 2005, the New York Stock Exchange, Inc. (``NYSE'' 
or ``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934, as amended, (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change relating to trade shredding. The 
proposed rule change was published for notice and comment in the 
Federal Register on September 21, 2005.\3\ The Commission received no 
comments on the proposal. This order approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 52435 (September 14, 
2005), 70 FR 55440.
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II. Description of the Proposal

    The NYSE proposed to add NYSE Rule 123G to prohibit members, member 
organizations and associated persons from unbundling orders for 
execution for the primary purpose of maximizing a monetary or like 
payment to the member, member organization or associated person without 
regard for the best interests of the customer.

III. Discussion and Commission Findings

    The Commission has reviewed carefully the proposed rule change and 
finds that it is consistent with the requirements of the Act and the 
rules and regulations thereunder applicable to a national securities 
exchange,\4\ particularly Section 6(b)(5) of the Act which, among other 
things, requires that the rules of a national securities exchange be 
designed to promote just and equitable principles of trade, to foster 
cooperation and coordination with persons engaged in regulating 
securities transactions, 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.\5\ The 
Commission believes that the proposed rule change should help eliminate 
the distortive practice of trade shredding, and, therefore, promote 
just and equitable principles of trade.
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    \4\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. See 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f(b)(5).
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IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\6\ that the proposed rule change (File No. SR-NYSE-2005-62), be 
and hereby is, approved.
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Jonathan G. Katz,
Secretary.
 [FR Doc. E5-6053 Filed 11-1-05; 8:45 am]
BILLING CODE 8010-01-P

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