Self-Regulatory Organizations; National Association of Securities Dealers, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend a Pilot Program That Increases Position and Exercise Limits for Certain Equity Options, 10580-10582 [E6-2820]
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10580
Federal Register / Vol. 71, No. 40 / Wednesday, March 1, 2006 / Notices
The purpose of the proposed rule
change is to extend the Pilot Program for
an additional six-month period, until
September 1, 2006.8 The Exchange
believes that extending the Pilot
Program for six months is warranted
due to the positive feedback from
members and for the reasons cited in the
original rule filing that proposed the
adoption of the Pilot Program.9
Additionally, the Exchange represents
that it has not experienced any
problems or difficulties relating to the
Pilot Program since its inception. For
these reasons, the Exchange requests
that the Commission extend the Pilot
Program until September 1, 2006.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with section 6(b)
of the Act 10 in general, and furthers the
objective of section 6(b)(5) of the Act 11
in particular, in that it is designed to
promote just and equitable principles of
trade and to protect investors and the
public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
impose any burden on competition.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the forgoing rule change does
not: (1) Significantly affect the
protection of investors or the public
interest; (2) impose any significant
burden on competition; and (3) become
operative for 30 days after the date of
this filing, or such shorter time as the
Commission may designate, it has
become effective pursuant to section
19(b)(3)(A) of the Act 12 and Rule 19b–
4(f)(6) thereunder.13
A proposed rule change filed under
19b–4(f)(6) normally may not become
operative prior to 30 days after the date
wwhite on PROD1PC61 with NOTICES
7 Except
when the Pilot Program is in effect.
proposed extension is actually for six
months and ten days.
9 See Pilot Program Notice, supra note 5.
10 15 U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(5).
12 15 U.S.C. 78s(b)(3)(A).
13 17 CFR 240.19b–4(f)(6).
of filing.14 However, Rule 19b–
4(f)(6)(iii) 15 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange provided the Commission
with written notice of its intent to file
this proposed rule change at least five
business days prior to the date of filing
the proposed rule change. In addition,
the Exchange has requested that the
Commission waive the 30-day preoperative delay. The Commission
believes that waiving the 30-day preoperative delay is consistent with the
protection of investors and in the public
interest because it will allow the Pilot
Program to continue uninterrupted.16
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 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
No. SR–ISE–2006–10 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
No. SR–ISE–2006–10. 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
8 The
VerDate Aug<31>2005
18:25 Feb 28, 2006
Jkt 208001
14 17
CFR 240.19b–4(f)(6)(iii).
15 Id.
16 For the purposes only of waiving the preoperative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. 15 U.S.C. 78c(f).
PO 00000
Frm 00119
Fmt 4703
Sfmt 4703
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, 100 F Street, NE., Washington,
DC 20549. Copies of such filing will also
be available for inspection and copying
at the principal office of the ISE. 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 No.
SR–ISE–2006–10 and should be
submitted on or before March 22, 2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.17
Nancy M. Morris,
Secretary.
[FR Doc. E6–2816 Filed 2–28–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53346; File No. SR–NASD–
2006–025]
Self-Regulatory Organizations;
National Association of Securities
Dealers, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Extend a Pilot
Program That Increases Position and
Exercise Limits for Certain Equity
Options
February 22, 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 February
16, 2006, the National Association of
Securities Dealers, Inc. (‘‘NASD’’) 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 NASD. NASD has
filed the proposal as a ‘‘noncontroversial’’ rule change pursuant to
17 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\01MRN1.SGM
01MRN1
Federal Register / Vol. 71, No. 40 / Wednesday, March 1, 2006 / Notices
section 19(b)(3)(A) of the Act 3 and Rule
19b–4(f)(6) thereunder,4 which renders
it 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
NASD proposes to amend NASD Rule
2860 to extend a pilot program
increasing certain options position and
exercise limits. The text of the proposed
rule change is available on NASD’s Web
site (https://www.nasd.com), at NASD’s
principal office, and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
NASD 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. NASD 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
NASD is proposing to amend NASD
Rule 2860 to extend a pilot program
until September 1, 2006 (unless
extended) increasing position and
exercise limits for both standardized
and conventional options (‘‘Pilot
Program’’).5 Unless extended, the Pilot
Program will expire on March 3, 2006.6
NASD believes that the Pilot Program
should be extended so that it may
continue without interruption for the
same reasons that are discussed in the
Pilot Program Notice.
2. Statutory Basis
NASD believes that the proposed rule
change is consistent with the provisions
3 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
5 See Securities Exchange Act Release No. 51520
(April 11, 2005), 70 FR 19977 (April 15, 2005)
(notice of filing and immediate effectiveness of SR–
NASD–2005–040) (‘‘Pilot Program Notice’’).
6 See Securities Exchange Act Release No. 52271
(August 16, 2005), 70 FR 49344 (August 23, 2005)
(notice of filing and immediate effectiveness of SR–
NASD–2005–097).
wwhite on PROD1PC61 with NOTICES
4 17
VerDate Aug<31>2005
18:25 Feb 28, 2006
Jkt 208001
of section 15A(b)(6) of the Act,7 which
requires, among other things, that
NASD’s rules must be designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, and, in
general, to protect investors and the
public interest. The proposed rule
change is being made so that the Pilot
Program, which achieves these goals as
discussed in the Pilot Program Notice,
may continue without interruption.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
NASD does not believe that the
proposed rule change will result in any
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
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the forgoing rule change does
not: (1) Significantly affect the
protection of investors or the public
interest; (2) impose any significant
burden on competition; and (3) become
operative for 30 days after the date of
this filing, or such shorter time as the
Commission may designate, it has
become effective pursuant to section
19(b)(3)(A) of the Act 8 and Rule 19b–
4(f)(6) thereunder.9
A proposed rule change filed under
19b–4(f)(6) normally may not become
operative prior to 30 days after the date
of filing.10 However, Rule 19b–
4(f)(6)(iii) 11 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. NASD
provided the Commission with written
notice of its intent to file this proposed
rule change at least five business days
prior to the date of filing the proposed
rule change. In addition, NASD has
requested that the Commission waive
the 30-day pre-operative delay. The
Commission believes that waiving the
30-day pre-operative delay is consistent
with the protection of investors and in
the public interest because it will allow
7 15
U.S.C. 78o–3(b)(6).
U.S.C. 78s(b)(3)(A).
9 17 CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6)(iii).
11 Id.
8 15
PO 00000
Frm 00120
Fmt 4703
Sfmt 4703
10581
the Pilot Program to continue
uninterrupted.12
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 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
No. SR–NASD–2006–025 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File No.
SR–NASD–2006–025. 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, 100 F Street, NE., Washington,
DC 20549. Copies of such filing will also
be available for inspection and copying
at the principal office of NASD. All
comments received will be posted
without change; the Commission does
12 For the purposes only of waiving the preoperative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. 15 U.S.C. 78c(f).
E:\FR\FM\01MRN1.SGM
01MRN1
10582
Federal Register / Vol. 71, No. 40 / Wednesday, March 1, 2006 / Notices
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 No.
SR–NASD–2006–025 and should be
submitted on or before March 22, 2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.13
Nancy M. Morris,
Secretary.
[FR Doc. E6–2820 Filed 2–28–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53350; File No. SR–PCX–
2006–08]
Self-Regulatory Organizations; Pacific
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Extend the
Exchange’s Standard Position and
Exercise Limit Pilot Program
February 22, 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 February
14, 2006, the Pacific Exchange, Inc.
(‘‘PCX’’ 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 PCX. The Exchange has filed the
proposal as a ‘‘non-controversial’’ rule
change pursuant to Section 19(b)(3)(A)
of the Act 3 and Rule 19b–4(f)(6)
thereunder,4 which renders it effective
upon filing with the Commission. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
The PCX proposes to amend its rules
to extend the time period in PCX Rule
6.8(a), which covers the position limit
and exercise limits pilot program for
equity option contracts and options on
the Nasdaq–100 Tracking Stock
(‘‘QQQQ’’) (‘‘Pilot Program’’). The text
of the proposed rule change is available
on the PCX’s Web site (https://
www.pacificex.com), at the PCX’s
principal office, and at the
Commission’s Public Reference Room.
1. Purpose
In its filing with the Commission, the
PCX 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.
The purpose of this proposal is to
extend the period for the Exchange’s
Pilot Program relating to standard
position and exercise limits for equity
option contracts and for options on
QQQQs until September 1, 2006.5
Specifically, the Pilot Program increased
the applicable position and exercise
limits for equity options and options on
the QQQQ in accordance with the
following levels:
Current equity option contract limit 6
Pilot program equity option contract limit
13,500
22,500
31,500
60,000
75,000
25,000
50,000
75,000
200,000
250,000
Current QQQQ option contract limit
Pilot program QQQQ option contract limit
300,000
900,000
wwhite on PROD1PC61 with NOTICES
The Exchange believes that extending
the Pilot Program until September 1,
2006 is warranted due to the positive
feedback from OTP Holders and for the
reasons cited in the original rule filing
that proposed the Pilot Program.7 While
previously the Pilot Program was
extended for a ‘‘six-month period’’ this
proposal actually calls for an extension
of six months and four days. This slight
change to the time period, which makes
no material change to the Pilot Program
itself, is being proposed in order to
coordinate the expiration of the Pilot
Program with the end of the calendar
13 17
CFR 200.30–3(a)(12).
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 The Pilot Program, which was effective upon
filing on February 25, 2005 and subsequently
1 15
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18:25 Feb 28, 2006
Jkt 208001
month. The Exchange has not
encountered any problems or
difficulties relating to the Pilot Program
since its inception. For these reasons,
the Exchange requests that the
Commission extend the Pilot Program
until September 1, 2006.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the Act
and the rules and regulations
thereunder and, in particular, the
requirements of section 6(b) of the Act.8
Specifically, the Exchange believes the
extended, is set to expire on February 26, 2006. See
Securities Exchange Act Release No. 51286 (March
1, 2005), 70 FR 11297 (March 8, 2005) (notice of
filing and immediate effectiveness of File No. SR–
PCX–2003–55, as amended) (‘‘Pilot Program
Notice’’). See also Securities Exchange Act Release
No. 52263 (August 15, 2005), 70 FR 49003 (August
PO 00000
Frm 00121
Fmt 4703
Sfmt 4703
proposed rule change is consistent with
Section 6(b)(5) of the Act 9 that requires
that the rules of an exchange be
designed to promote just and equitable
principles of trade, to prevent
fraudulent and manipulative acts, to
remove impediments to and perfect the
mechanism for a free and open market
and a national market system, and, in
general, to protect investors and the
public interest.
22, 2005) (notice of filing and immediate
effectiveness of File No. SR–PCX–2005–95).
6 Except when the Pilot Program is in effect.
7 See Pilot Program Notice, supra note 5.
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(5).
E:\FR\FM\01MRN1.SGM
01MRN1
]]>Agencies
[Federal Register Volume 71, Number 40 (Wednesday, March 1, 2006)]
[Notices]
[Pages 10580-10582]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-2820]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53346; File No. SR-NASD-2006-025]
Self-Regulatory Organizations; National Association of Securities
Dealers, Inc.; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Extend a Pilot Program That Increases Position and
Exercise Limits for Certain Equity Options
February 22, 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 February 16, 2006, the National Association of Securities Dealers,
Inc. (``NASD'') 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 NASD. NASD has filed the
proposal as a ``non-controversial'' rule change pursuant to
[[Page 10581]]
section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(6) thereunder,\4\
which renders it effective upon filing with the Commission. 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).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
NASD proposes to amend NASD Rule 2860 to extend a pilot program
increasing certain options position and exercise limits. The text of
the proposed rule change is available on NASD's Web site (https://
www.nasd.com), at NASD's principal office, and at the Commission's
Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, NASD 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. NASD 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
NASD is proposing to amend NASD Rule 2860 to extend a pilot program
until September 1, 2006 (unless extended) increasing position and
exercise limits for both standardized and conventional options (``Pilot
Program'').\5\ Unless extended, the Pilot Program will expire on March
3, 2006.\6\ NASD believes that the Pilot Program should be extended so
that it may continue without interruption for the same reasons that are
discussed in the Pilot Program Notice.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 51520 (April 11,
2005), 70 FR 19977 (April 15, 2005) (notice of filing and immediate
effectiveness of SR-NASD-2005-040) (``Pilot Program Notice'').
\6\ See Securities Exchange Act Release No. 52271 (August 16,
2005), 70 FR 49344 (August 23, 2005) (notice of filing and immediate
effectiveness of SR-NASD-2005-097).
---------------------------------------------------------------------------
2. Statutory Basis
NASD believes that the proposed rule change is consistent with the
provisions of section 15A(b)(6) of the Act,\7\ which requires, among
other things, that NASD's rules must be designed to prevent fraudulent
and manipulative acts and practices, to promote just and equitable
principles of trade, and, in general, to protect investors and the
public interest. The proposed rule change is being made so that the
Pilot Program, which achieves these goals as discussed in the Pilot
Program Notice, may continue without interruption.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78o-3(b)(6).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
NASD does not believe that the proposed rule change will result in
any 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
Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the forgoing rule change does not: (1) Significantly affect
the protection of investors or the public interest; (2) impose any
significant burden on competition; and (3) become operative for 30 days
after the date of this filing, or such shorter time as the Commission
may designate, it has become effective pursuant to section 19(b)(3)(A)
of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under 19b-4(f)(6) normally may not
become operative prior to 30 days after the date of filing.\10\
However, Rule 19b-4(f)(6)(iii) \11\ permits the Commission to designate
a shorter time if such action is consistent with the protection of
investors and the public interest. NASD provided the Commission with
written notice of its intent to file this proposed rule change at least
five business days prior to the date of filing the proposed rule
change. In addition, NASD has requested that the Commission waive the
30-day pre-operative delay. The Commission believes that waiving the
30-day pre-operative delay is consistent with the protection of
investors and in the public interest because it will allow the Pilot
Program to continue uninterrupted.\12\
---------------------------------------------------------------------------
\10\ 17 CFR 240.19b-4(f)(6)(iii).
\11\ Id.
\12\ For the purposes only of waiving the pre-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 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 No. SR-NASD-2006-025 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-1090.
All submissions should refer to File No. SR-NASD-2006-025. 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, 100 F Street, NE.,
Washington, DC 20549. Copies of such filing will also be available for
inspection and copying at the principal office of NASD. All comments
received will be posted without change; the Commission does
[[Page 10582]]
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 No. SR-NASD-2006-025 and should be
submitted on or before March 22, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Nancy M. Morris,
Secretary.
[FR Doc. E6-2820 Filed 2-28-06; 8:45 am]
BILLING CODE 8010-01-P
