Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Phlx Rule 1009 To Reference the Exchange's “designated staff” or “designated department” Instead of Its “Department of Securities”, 2977-2978 [E6-433]
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Federal Register / Vol. 71, No. 11 / Wednesday, January 18, 2006 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53095; File No. SR–Phlx–
2005–84]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change To Amend Phlx Rule 1009 To
Reference the Exchange’s ‘‘designated
staff’’ or ‘‘designated department’’
Instead of Its ‘‘Department of
Securities’’
January 10, 2006.
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 December
28, 2005, the Philadelphia Stock
Exchange, Inc. (‘‘Phlx’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the Phlx. The Phlx
filed the proposal as a ‘‘noncontroversial’’ proposed rule change
pursuant to Section 19(b)(3)(A) of the
Act 3 and Rule 19b–4(f)(6) thereunder,4
which renders the proposal effective
upon filing with the Commission.5 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 Phlx proposes to amend Phlx
Rule 1009 to change the reference from
Department of Securities (‘‘DOS’’) to the
Exchange’s ‘‘designated staff’’ or
‘‘designated department’’ to conform the
rule to a recent internal departmental
name change. The text of the proposed
rule change is below. Proposed new text
is in italic, and proposed deletions are
in [brackets].
Rule 1009. Criteria for Underlying
Securities
(a), (b) and (c)—No Change.
Commentary:
.01—No Change.
.02 (a) Members, member
organizations or any person proposing
to list any option not currently listed on
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
5 As required by Rule 19b–4(f)(6)(iii), 17 CFR
240.19b–4(f)(6)(iii), the Phlx submitted written
notice of its intent to file the proposed rule change,
along with a brief description and text of the
proposed rule change, at least five business days
prior to the date of filing.
erjones on PROD1PC68 with NOTICES
2 17
VerDate Aug<31>2005
15:06 Jan 17, 2006
Jkt 208001
the Exchange shall submit a form of
request (a ‘‘Request to List an Option’’),
available from the Exchange’s
[Department of Securities (‘‘DOS’’), to
DOS staff ‘‘designated staff’’ or
‘‘designated department’’ (together ‘‘the
designated department’’).
(b) As soon as practicable, but not
later than three (3) business days
following receipt of the Request to List
an Option, [DOS staff] the designated
department shall review the proposed
option’s eligibility for listing, using the
objective listing criteria set forth in
Commentary .01 of this Rule. If [DOS
staff] the designated department
determines that the proposed option
does not meet the objective listing
criteria set forth in Commentary .01 of
this Rule, [DOS staff] the designated
department shall prepare a responsive
form (a ‘‘Notification Memorandum’’)
stating the reason(s) why the proposed
option is not eligible for listing. [DOS
staff] The designated department shall
forward the Notification Memorandum
to the member or member organization
that submitted the Request to List an
Option within three (3) business days of
its determination that the proposed
option does not meet objective listing
criteria. [DOS staff] The designated
department shall maintain all Requests
to List an Option and Notification
Memoranda in a central file for a period
of not less than five (5) years.
(c) If [DOS staff] the designated
department determines that the
proposed option meets the objective
listing criteria set forth in Commentary
.01 of this Rule, [DOS staff] the
designated department shall present the
initial Request to List an Option and the
subsequent review to the Chairman of
the Board of Governors or his designee,
who shall, within ten (10) business days
of receipt of the Request to List an
Option, instruct [DOS staff] the
designated department to:
(i) Solicit options specialists to submit
applications for specialist privileges in
the option; or
(ii) Within three (3) business days,
prepare and forward a letter to the
member or member organization that
submitted the Request to List an Option,
setting forth in reasonable detail the
basis on which the decision not to list,
or to place limitations or conditions
upon, the proposed option was made.
.02 (d)–(e)—No Change.
.03–.07—No Change.
*
*
*
*
*
PO 00000
Frm 00078
Fmt 4703
Sfmt 4703
2977
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
Phlx included statements concerning
the purpose of, and basis for, the
proposed rule change and discussed any
comments it received on the proposal.
The text of these statements may be
examined at the places specified in Item
IV below. The Phlx 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
Currently, Commentary .01 to Phlx
Rule 1009 states that the Department of
Securities (‘‘DOS’’) receives and
processes a ‘‘Request to List an Option’’
form. Due to the recent renaming of
DOS at the Exchange, references to DOS
in Phlx Rule 1009 need to be changed.
To allow adequate flexibility in the
event that further changes are necessary
in the future, the Exchange proposes to
replace in Phlx Rule 1009, the term
‘‘DOS’’ with the terms ‘‘designated
staff’’ or ‘‘designated department.’’ 6
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 7 in general, and furthers the
objectives of Section 6(b)(5) of the Act 8
in particular, in that it is designed to
promote just and equitable principles of
trade, 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, by
eliminating obsolete references in Phlx
Rule 1009.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Phlx believes that the proposed
rule change will not impose any burden
on competition that is not necessary or
appropriate in furtherance of the
purposes of the Act, as amended.
6 Promptly after publication by the Commission
of this filing, the Exchange will announce the
designated staff or designated department that will
receive and process the ‘‘Request to List an Option’’
form by way of a memorandum to Exchange
membership. Thereafter, change in the designated
staff or designated department, which change may
be made by an officer of the Exchange, and the
effective date thereof will be announced by way of
a memorandum to Exchange membership.
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
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18JAN1
2978
Federal Register / Vol. 71, No. 11 / Wednesday, January 18, 2006 / Notices
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Phlx has neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change: (1) Does not significantly affect
the protection of investors or the public
interest; (2) does not impose any
significant burden on competition; and
(3) by its terms does not become
operative for 30 days after the date of
this filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, the proposed rule
change has become effective pursuant to
Section 19(b)(3)(A) of the Act and Rule
19b–4(f)(6) thereunder.
A proposed rule change filed under
Rule 19b–4(f)(6) normally does not
become operative for 30 days after the
date of filing. However, Rule 19b–
4(f)(6)(iii) permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Phlx has asked the Commission to
waive the 30-day operative delay. The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest because the proposed
rule change corrects references that are
now obsolete.9 For this reason, the
Commission designates that the
proposal has become effective and
operative immediately upon filing with
the Commission.
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.10
erjones on PROD1PC68 with NOTICES
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:
purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. 15 U.S.C. 78c(f).
10 See Rule 19b–4(f)(6)(iii), 17 CFR 240.19b–
4(f)(6)(iii).
Electronic Comments
SMALL BUSINESS ADMINISTRATION
• 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–Phlx–2005–84 on the
subject line.
[License No. 09/79–0432]
Nancy M. Morris,
Secretary.
[FR Doc. E6–433 Filed 1–17–06; 8:45 am]
SUMMARY: This is an amendment of an
Economic Injury Disaster Loan (EIDL)
declaration for the State of Maine, dated
01/06/2006.
Incident: Outbreak of red tide in the
waters off Maine.
Incident Period: May 24, 2005 and
continuing.
Notice is hereby given that Telesoft
Partners II SBIC, LP, 1450 Fashion
Paper Comments
Island Blvd., Suite 610, San Mateo, CA
94404, a Federal Licensee under the
• Send paper comments in triplicate
Small Business Investment Act of 1958,
to Nancy M. Morris, Secretary,
as amended (‘‘the Act’’), in connection
Securities and Exchange Commission,
with the financing of a small concern,
100 F Street, NE., Washington, DC
has sought an exemption under section
20549–9303.
312 of the Act and section 107.730,
All submissions should refer to File
Financings which Constitute Conflicts
of Interest of the Small Business
Number SR–Phlx–2005–84. This file
Administration (‘‘SBA’’) Rules and
number should be included on the
subject line if e-mail is used. To help the Regulations (13 CFR 107.730). Telesoft
Partners II SBIC, LP proposes to provide
Commission process and review your
equity/debt security financing to
comments more efficiently, please use
only one method. The Commission will LogLogic, Inc. The financing is
post all comments on the Commission’s contemplated for working capital and
general corporate purposes.
Internet Web site (https://www.sec.gov/
The financing is brought within the
rules/sro.shtml). Copies of the
purview of § 107.730(a)(1) of the
submission, all subsequent
Regulations because Telesoft Partners II
amendments, all written statements
QP, LP, Telesoft Partners II, LP and
with respect to the proposed rule
Telesoft NP Employee Fund, LLC, all
change that are filed with the
Associates of Telesoft Partners II SBIC,
Commission, and all written
L.P., own more than ten percent of
communications relating to the
LogLogic, Inc.
proposed rule change between the
Notice is hereby given that any
Commission and any person, other than interested person may submit written
those that may be withheld from the
comments on the transaction to the
public in accordance with the
Associate Administrator for Investment,
provisions of 5 U.S.C. 552, will be
U.S. Small Business Administration,
available for inspection and copying in
409 Third Street, SW., Washington, DC
the Commission’s Public Reference
20416.
Room. Copies of such filing also will be
Dated: November 30, 2005.
available for inspection and copying at
´
Jaime Guzman-Fournier,
the principal office of the Phlx.
Associate Administrator for Investment.
All comments received will be posted [FR Doc. E6–439 Filed 1–17–06; 8:45 am]
without change; the Commission does
BILLING CODE 8025–01–P
not edit personal identifying
information from submissions. You
should submit only information that
SMALL BUSINESS ADMINISTRATION
you wish to make available publicly. All
[Disaster Declaration # 10131]
submissions should refer to File
Number SR–Phlx–2005–84 and should
Maine Disaster # ME–00002
be submitted on or before February 8,
Declaration of Economic Injury
2006.
AGENCY: U.S. Small Business
For the Commission, by the Division of
Administration.
Market Regulation, pursuant to delegated
ACTION: Amendment 1.
authority.11
BILLING CODE 8010–01–P
9 For
VerDate Aug<31>2005
15:06 Jan 17, 2006
Jkt 208001
Telesoft Partners II SBIC, LP; Notice
Seeking Exemption Under Section 312
of the Small Business Investment Act,
Conflicts of Interest
11 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00079
Fmt 4703
Sfmt 4703
DATES:
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Effective Date: January 6, 2006.
18JAN1
]]>Agencies
[Federal Register Volume 71, Number 11 (Wednesday, January 18, 2006)]
[Notices]
[Pages 2977-2978]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-433]
[[Page 2977]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53095; File No. SR-Phlx-2005-84]
Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Phlx Rule 1009 To Reference the Exchange's ``designated staff''
or ``designated department'' Instead of Its ``Department of
Securities''
January 10, 2006.
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 December 28, 2005, the Philadelphia Stock Exchange, Inc. (``Phlx''
or ``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Phlx. The Phlx filed
the proposal as a ``non-controversial'' proposed rule change pursuant
to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(6)
thereunder,\4\ which renders the proposal effective upon filing with
the Commission.\5\ 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.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6).
\5\ As required by Rule 19b-4(f)(6)(iii), 17 CFR 240.19b-
4(f)(6)(iii), the Phlx submitted written notice of its intent to
file the proposed rule change, along with a brief description and
text of the proposed rule change, at least five business days prior
to the date of filing.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Phlx proposes to amend Phlx Rule 1009 to change the reference
from Department of Securities (``DOS'') to the Exchange's ``designated
staff'' or ``designated department'' to conform the rule to a recent
internal departmental name change. The text of the proposed rule change
is below. Proposed new text is in italic, and proposed deletions are in
[brackets].
Rule 1009. Criteria for Underlying Securities
(a), (b) and (c)--No Change.
Commentary:
.01--No Change.
.02 (a) Members, member organizations or any person proposing to
list any option not currently listed on the Exchange shall submit a
form of request (a ``Request to List an Option''), available from the
Exchange's [Department of Securities (``DOS''), to DOS staff
``designated staff'' or ``designated department'' (together ``the
designated department'').
(b) As soon as practicable, but not later than three (3) business
days following receipt of the Request to List an Option, [DOS staff]
the designated department shall review the proposed option's
eligibility for listing, using the objective listing criteria set forth
in Commentary .01 of this Rule. If [DOS staff] the designated
department determines that the proposed option does not meet the
objective listing criteria set forth in Commentary .01 of this Rule,
[DOS staff] the designated department shall prepare a responsive form
(a ``Notification Memorandum'') stating the reason(s) why the proposed
option is not eligible for listing. [DOS staff] The designated
department shall forward the Notification Memorandum to the member or
member organization that submitted the Request to List an Option within
three (3) business days of its determination that the proposed option
does not meet objective listing criteria. [DOS staff] The designated
department shall maintain all Requests to List an Option and
Notification Memoranda in a central file for a period of not less than
five (5) years.
(c) If [DOS staff] the designated department determines that the
proposed option meets the objective listing criteria set forth in
Commentary .01 of this Rule, [DOS staff] the designated department
shall present the initial Request to List an Option and the subsequent
review to the Chairman of the Board of Governors or his designee, who
shall, within ten (10) business days of receipt of the Request to List
an Option, instruct [DOS staff] the designated department to:
(i) Solicit options specialists to submit applications for
specialist privileges in the option; or
(ii) Within three (3) business days, prepare and forward a letter
to the member or member organization that submitted the Request to List
an Option, setting forth in reasonable detail the basis on which the
decision not to list, or to place limitations or conditions upon, the
proposed option was made.
.02 (d)-(e)--No Change.
.03-.07--No Change.
* * * * *
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 Phlx included statements
concerning the purpose of, and basis for, the proposed rule change and
discussed any comments it received on the proposal. The text of these
statements may be examined at the places specified in Item IV below.
The Phlx 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
Currently, Commentary .01 to Phlx Rule 1009 states that the
Department of Securities (``DOS'') receives and processes a ``Request
to List an Option'' form. Due to the recent renaming of DOS at the
Exchange, references to DOS in Phlx Rule 1009 need to be changed. To
allow adequate flexibility in the event that further changes are
necessary in the future, the Exchange proposes to replace in Phlx Rule
1009, the term ``DOS'' with the terms ``designated staff'' or
``designated department.'' \6\
---------------------------------------------------------------------------
\6\ Promptly after publication by the Commission of this filing,
the Exchange will announce the designated staff or designated
department that will receive and process the ``Request to List an
Option'' form by way of a memorandum to Exchange membership.
Thereafter, change in the designated staff or designated department,
which change may be made by an officer of the Exchange, and the
effective date thereof will be announced by way of a memorandum to
Exchange membership.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \7\ in general, and furthers the objectives of Section
6(b)(5) of the Act \8\ in particular, in that it is designed to promote
just and equitable principles of trade, 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,
by eliminating obsolete references in Phlx Rule 1009.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Phlx believes that the proposed rule change will not impose any
burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as amended.
[[Page 2978]]
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Phlx has neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms does not become operative for 30 days after the
date of this filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest, the proposed rule change has become effective pursuant to
Section 19(b)(3)(A) of the Act and Rule 19b-4(f)(6) thereunder.
A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of filing. However,
Rule 19b-4(f)(6)(iii) permits the Commission to designate a shorter
time if such action is consistent with the protection of investors and
the public interest. The Phlx has asked the Commission to waive the 30-
day operative delay. The Commission believes that waiving the 30-day
operative delay is consistent with the protection of investors and the
public interest because the proposed rule change corrects references
that are now obsolete.\9\ For this reason, the Commission designates
that the proposal has become effective and operative immediately upon
filing with the Commission.
---------------------------------------------------------------------------
\9\ For purposes only of waiving the 30-day operative delay, the
Commission has considered the proposed rule's impact on efficiency,
competition, and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------
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.\10\
---------------------------------------------------------------------------
\10\ See Rule 19b-4(f)(6)(iii), 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
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-Phlx-2005-84 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-9303.
All submissions should refer to File Number SR-Phlx-2005-84. 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 Room. Copies of such
filing also will be available for inspection and copying at the
principal office of the Phlx.
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-Phlx-2005-84
and should be submitted on or before February 8, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Nancy M. Morris,
Secretary.
[FR Doc. E6-433 Filed 1-17-06; 8:45 am]
BILLING CODE 8010-01-P
