Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Chapter VII, Section 1(g) Relating to the Exercise of Options Contracts, 16601-16603 [E6-4755]
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Federal Register / Vol. 71, No. 63 / Monday, April 3, 2006 / Notices
Dated at Rockville, Maryland, this 24th day
of March, 2006.
For the Nuclear Regulatory Commission.
Peter S. Tam,
Senior Project Manager, Plant Licensing
Branch III–1, Division of Operating Reactor
Licensing, Office of Nuclear Reactor
Regulation.
[FR Doc. E6–4778 Filed 3–31–06; 8:45 am]
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Advisory Committee on Reactor
Safeguards; Revised Meeting Notice
The agenda for the 531st ACRS
meeting, scheduled to be held on April
5–8, 2006, has been revised as noted
below. Notice of this meeting was
previously published in the Federal
Register on Thursday, March 23, 2006
(71 FR 14724).
The discussion of the topic on the
Application of the TRACG Code for
ESBWR Stability scheduled to be held
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2:30 and 4:30 p.m. is now scheduled
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https://www.nrc.gov/reading-rm/doccollections/ (ACRS & ACNW Mtg
schedules/agendas).
FOR FURTHER INFORMATION CONTACT: Mr.
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Dated: March 28, 2006.
Andrew L. Bates,
Advisory Committee Management Officer.
[FR Doc. E6–4781 Filed 3–31–06; 8:45 am]
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Advisory Committee on Reactor
Safeguards Meeting of the ACRS
Subcommittee on Reliability and
Probabilistic Risk Assessment; Notice
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Jkt 208001
The Subcommittee will hear the
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Dated: March 28, 2006.
Michael R. Snodderly,
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[FR Doc. E6–4784 Filed 3–31–06; 8:45 am]
(2) Form(s) submitted: AA–21, AA–
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(3) OMB Number: 3220–0031.
(4) Expiration date of current OMB
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(5) Type of request: Extension of a
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Comments regarding the information
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[FR Doc. E6–4796 Filed 3–31–06; 8:45 am]
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2006–09]
BILLING CODE 7590–01–P
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VerDate Aug<31>2005
Friday, April 28, 2006—8:30 a.m. Until
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RAILROAD RETIREMENT BOARD
BILLING CODE 7590–01–P
The ACRS Subcommittee on
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16601
SUMMARY: In accordance with the
Paperwork Reduction Act of 1995 (44
U.S.C. Chapter 35), the Railroad
Retirement Board (RRB) has submitted
the following proposal(s) for the
collection of information to the Office of
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Summary of Proposal(s)
(1) Collection title: Application for
Survivor Death Benefits.
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Self-Regulatory Organizations; Boston
Stock Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Amend
Chapter VII, Section 1(g) Relating to
the Exercise of Options Contracts
March 28, 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 March 15,
2006, the Boston Stock Exchange, Inc.
(‘‘BSE’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
1 15
2 17
E:\FR\FM\03APN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
03APN1
16602
Federal Register / Vol. 71, No. 63 / Monday, April 3, 2006 / Notices
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The BSE 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
it 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 BSE, pursuant to Section 19(b)(1)
of the Act 6 and Rule 19b–4 thereunder,7
proposes to amend the Rules of the
Boston Options Exchange (‘‘BOX’’), an
options trading facility of the BSE, to
amend Chapter VII, Section 1(g) relating
to the exercise of options contracts and
the deadline within which one may
make a final decision to exercise or not
exercise an expiring option. The text of
the proposed rule change is available on
the BSE’s Web site at (https://
bostonstock.com), at the BSE’s principal
office, and at the Commission’s Public
Reference Room.8
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
Exchange 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 BSE has prepared
summaries, set forth in Sections A, B,
and C below, of the most significant
aspects of such statements.
3 15
U.S.C. 78s(B)(3)(A).
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 BSE 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.
6 15 U.S.C. 78s(b)(1).
7 17 CFR 240.19b–4.
8 In its proposal, the Exchange indicated that no
change is being made to subsections .01 and .02 of
the Supplementary Material following Chapter VII,
Section 1 of the BOX Rules. During a telephone
conversation on March 21, 2006, the Exchange
clarified that no change is to be made to subsections
.03 through .05 of the Supplementary Material
following Chapter VII, Section 1 of the BOX Rules.
Telephone conversation between Bill Meehan,
General Counsel, BSE, and Johnna B. Dumler,
Attorney, Division of Market Regulation
(‘‘Division’’), Commission, on March 21, 2006.
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4 17
VerDate Aug<31>2005
17:30 Mar 31, 2006
Jkt 208001
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The BSE proposes to amend Chapter
VII, Section 1(g) of the BOX Rules to
clarify the amount of time that is set
forth as the deadline to make a final
decision to exercise or not exercise an
options contract.
On January 11, 2006, the BSE filed a
proposed rule change, which the
Commission subsequently approved on
an accelerated basis, relating to the
change in the closing time for trading
options on individual stocks from 4:02
p.m. Eastern Time (‘‘ET’’) to 4 p.m. ET.9
However, that proposed rule change did
not address a corresponding change to
Chapter VII, Section 1(g) of the BOX
Rules relating to the time frame within
which to exercise or not exercise an
options contract. Therefore, the BSE
now seeks to amend this rule text for
purposes of consistency with the new
hours of trading in equity options on
individual stocks. The BSE proposes to
change all references in Chapter VII,
Section 1(g) from 28 minutes to 30
minutes to reflect the two minute
change in the closing time for trading of
options on individual stocks.
According to the Exchange, the
proposed rule change is based on
similar rule changes submitted by the
Pacific Exchange, Inc., the Philadelphia
Stock Exchange, Inc. and the
International Securities Exchange, Inc.10
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act 11 in general, and
furthers the objectives of Section 6(b)(5)
of the Act 12 in particular, because it is
designed to foster cooperation and
coordination with persons engaged in
facilitating transactions in securities, to
remove impediments to and perfect the
mechanism of a free and open market
9 See Securities Exchange Act Release No. 53245
(February 7, 2006), 71 FR 8010 (February 15, 2006)
(approving SR–BSE–2006–02). The BSE filed SR–
BSE–2006–02 on January 11, 2006 and
subsequently filed a partial amendment on
February 2, 2006, which requested the
implementation date for the new closing time be
changed from February 1, 2006, as originally
proposed, to February 13, 2006.
10 See Securities Exchange Act Release Nos.
53249 (February 7, 2006), 71 FR 8035 (February 15,
2006) (SR–PCX–2005–138); 53407 (March 3, 2006),
71 FR 12764 (March 13, 2006) (SR–Phlx–2006–12);
53439 (March 7, 2006), 71 FR 13643 (March 16,
2006) (SR–ISE–2006–11). See also 53438 (March 7,
2006, 71 FR 13641 (March 16, 2006) (SR–CBOE–
2006–19).
11 15 U.S.C. 78f(b).
12 15 U.S.C. 78f(b)(5).
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and a national market system, and, in
general, to protect investors and the
public interest.13
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The BSE 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 on
which it was filed, 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 14 and Rule 19b–4(f)(6)
thereunder.15
A proposed rule change filed under
Rule 19b–4(f)(6) 16 normally does not
become operative prior to 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
BSE 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 such waiver will
allow the BSE to immediately clarify its
rule and conform it to the industry-wide
close of trading times now in effect.
Accelerating the operative date will
facilitate efficient and effective market
operation by offering clarity and
internal consistency with existing BSE
rules. For these reasons, the
13 The Exchange clarified that it is relying on the
statutory bases set forth above, as opposed to the
factors enumerated in the ‘‘Basis’’ Section of Exhibit
1. Telephone conversation between Bill Meehan,
General Counsel, BSE, and Johnna B. Dumler,
Attorney, Division, Commission, on March 21,
2006.
14 15 U.S.C. 78s(b)(3)(A).
15 17 CFR 240.19b–4(f)(6).
16 Id.
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Federal Register / Vol. 71, No. 63 / Monday, April 3, 2006 / Notices
Commission designates the proposed
rule change as effective and operative
immediately upon filing with the
Commission.17
At any time within 60-days after 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:
wwhite on PROD1PC61 with NOTICES
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–BSE–2006–09 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
20549–1090.
All submissions should refer to File
Number SR–BSE–2006–09. 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 BSE. All
17 For the purposes only of waiving the 30-day
operative date of this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
VerDate Aug<31>2005
17:30 Mar 31, 2006
Jkt 208001
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–BSE–2006–09 and should
be submitted on or before April 24,
2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.18
Nancy M. Morris,
Secretary.
[FR Doc. E6–4755 Filed 3–31–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
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[Release No. 34–53556; File No. SR–NASD–
2005–098]
Self-Regulatory Organizations;
National Association of Securities
Dealers, Inc.; Order Approving
Proposed Rule Change and
Amendment No. 1 Thereto Relating to
the Submission of SEC Rule 15c2–11
Information on Non-Nasdaq Securities
March 27, 2006.
On August 18, 2005, the National
Association of Securities Dealers, Inc.
(‘‘NASD’’) filed with the Securities and
Exchange Commission (‘‘SEC’’ or
‘‘Commission’’), a proposed rule change
to NASD Rule 6740 relating to the
submission of SEC Rule 15c2–11
information on non-Nasdaq securities
pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (‘‘Act’’
or ‘‘Exchange Act’’) ;1 and Rule 19b–4
thereunder.2 On January 10, 2006,
NASD submitted Amendment No. 1 to
the proposed rule change.3 The
Commission published the proposed
rule change, as amended, for comment
in the Federal Register on February 21,
2006.4 The Commission received no
comments on the proposal.
NASD Rule 6740 prohibits a member
from initiating or resuming the
quotation of a non-Nasdaq security 5 in
18 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Amendment No. 1 made certain technical and
clarifying changes to the original rule filing of
August 18, 2005 and superseded and replaced the
original rule filing in its entirety.
4 See Securities Exchange Act Release No. 53276
(February 13, 2006), 71 FR 8875 (February 21,
2006).
5 For purposes of this rule, ‘‘non-Nasdaq security’’
is defined in NASD Rule 6710(c) as ‘‘any equity
security that is neither included in The Nasdaq
Stock Market nor traded on any national securities
exchange.’’
15
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16603
a quotation medium unless the member
has demonstrated compliance with the
requirements of SEC Rule 15c2–11
pertaining to the review and
maintenance of specified information
about the security and issuer. To
demonstrate compliance with both
NASD Rule 6740 and SEC Rule 15c2–
11, a member must file with NASD a
Form 211, together with the information
required under SEC Rule 15c2–11(a), at
least three business days before the
quotation is published or displayed.
The proposed rule change, as
amended, relieves members of the
obligation to file with NASD copies of
information that is electronically
accessible through the SEC’s EDGAR
system. Although members will not be
required to file the information with
NASD, they will nonetheless remain
obligated under NASD Rule 6740 to
review and maintain information as
required by SEC Rule 15c2–11. Further,
where copies of documents are not
submitted to NASD because they are
available through EDGAR, members will
continue to be required to provide on
the Form 211 the type and date of each
report or statement, as well as other
information as may be requested by
NASD relating to each report or
statement for the reporting issuer that
the member relied upon in satisfying its
information review obligations under
NASD Rule 6740 and SEC Rule 15c2–
11(a).6
In addition, the proposed rule change,
as amended, would except members
from the requirements of NASD Rule
6740 where the Commission has granted
an exemption to publish or submit any
quotation under SEC Rule 15c2–11(h).
To the extent that the Commission’s
exemption is subject to any terms and
conditions, those same terms and
conditions would apply to the exclusion
under NASD Rule 6740.
Finally, the proposed rule change, as
amended, replaces, as a technical
change, several references in NASD
Rule 6740 to ‘‘the Association’’ with the
name ‘‘NASD.’’
NASD has stated that the effective
date of the proposed rule change will be
30 days following publication of
NASD’s Notice to Members announcing
Commission approval, and the
Commission believes that this is
reasonable.7
6 If information other than the type and date of
the statement or report is required to be submitted
by members under this proposed provision, NASD
will provide notice of these additional requirements
in a Notice to Members.
7 NASD will announce the effective date of the
proposed rule change in a Notice to Members to be
published no later than 60 days following
Commission approval.
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]]>Agencies
[Federal Register Volume 71, Number 63 (Monday, April 3, 2006)]
[Notices]
[Pages 16601-16603]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-4755]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53557; File No. SR-BSE-2006-09]
Self-Regulatory Organizations; Boston Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Chapter VII, Section 1(g) Relating to the Exercise of Options
Contracts
March 28, 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 March 15, 2006, the Boston Stock Exchange, Inc. (``BSE'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule
[[Page 16602]]
change as described in Items I and II below, which Items have been
prepared by the Exchange. The BSE 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 it
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 BSE 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 BSE, pursuant to Section 19(b)(1) of the Act \6\ and Rule 19b-4
thereunder,\7\ proposes to amend the Rules of the Boston Options
Exchange (``BOX''), an options trading facility of the BSE, to amend
Chapter VII, Section 1(g) relating to the exercise of options contracts
and the deadline within which one may make a final decision to exercise
or not exercise an expiring option. The text of the proposed rule
change is available on the BSE's Web site at (https://bostonstock.com),
at the BSE's principal office, and at the Commission's Public Reference
Room.\8\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(1).
\7\ 17 CFR 240.19b-4.
\8\ In its proposal, the Exchange indicated that no change is
being made to subsections .01 and .02 of the Supplementary Material
following Chapter VII, Section 1 of the BOX Rules. During a
telephone conversation on March 21, 2006, the Exchange clarified
that no change is to be made to subsections .03 through .05 of the
Supplementary Material following Chapter VII, Section 1 of the BOX
Rules. Telephone conversation between Bill Meehan, General Counsel,
BSE, and Johnna B. Dumler, Attorney, Division of Market Regulation
(``Division''), Commission, on March 21, 2006.
---------------------------------------------------------------------------
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 Exchange 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 BSE 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
The BSE proposes to amend Chapter VII, Section 1(g) of the BOX
Rules to clarify the amount of time that is set forth as the deadline
to make a final decision to exercise or not exercise an options
contract.
On January 11, 2006, the BSE filed a proposed rule change, which
the Commission subsequently approved on an accelerated basis, relating
to the change in the closing time for trading options on individual
stocks from 4:02 p.m. Eastern Time (``ET'') to 4 p.m. ET.\9\ However,
that proposed rule change did not address a corresponding change to
Chapter VII, Section 1(g) of the BOX Rules relating to the time frame
within which to exercise or not exercise an options contract.
Therefore, the BSE now seeks to amend this rule text for purposes of
consistency with the new hours of trading in equity options on
individual stocks. The BSE proposes to change all references in Chapter
VII, Section 1(g) from 28 minutes to 30 minutes to reflect the two
minute change in the closing time for trading of options on individual
stocks.
---------------------------------------------------------------------------
\9\ See Securities Exchange Act Release No. 53245 (February 7,
2006), 71 FR 8010 (February 15, 2006) (approving SR-BSE-2006-02).
The BSE filed SR-BSE-2006-02 on January 11, 2006 and subsequently
filed a partial amendment on February 2, 2006, which requested the
implementation date for the new closing time be changed from
February 1, 2006, as originally proposed, to February 13, 2006.
---------------------------------------------------------------------------
According to the Exchange, the proposed rule change is based on
similar rule changes submitted by the Pacific Exchange, Inc., the
Philadelphia Stock Exchange, Inc. and the International Securities
Exchange, Inc.\10\
---------------------------------------------------------------------------
\10\ See Securities Exchange Act Release Nos. 53249 (February 7,
2006), 71 FR 8035 (February 15, 2006) (SR-PCX-2005-138); 53407
(March 3, 2006), 71 FR 12764 (March 13, 2006) (SR-Phlx-2006-12);
53439 (March 7, 2006), 71 FR 13643 (March 16, 2006) (SR-ISE-2006-
11). See also 53438 (March 7, 2006, 71 FR 13641 (March 16, 2006)
(SR-CBOE-2006-19).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act \11\ in general, and furthers the
objectives of Section 6(b)(5) of the Act \12\ in particular, because it
is designed to foster cooperation and coordination with persons engaged
in facilitating transactions in securities, 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.\13\
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\11\ 15 U.S.C. 78f(b).
\12\ 15 U.S.C. 78f(b)(5).
\13\ The Exchange clarified that it is relying on the statutory
bases set forth above, as opposed to the factors enumerated in the
``Basis'' Section of Exhibit 1. Telephone conversation between Bill
Meehan, General Counsel, BSE, and Johnna B. Dumler, Attorney,
Division, Commission, on March 21, 2006.
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B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The BSE 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 on which it was filed, 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 \14\ and Rule 19b-4(f)(6)
thereunder.\15\
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\14\ 15 U.S.C. 78s(b)(3)(A).
\15\ 17 CFR 240.19b-4(f)(6).
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A proposed rule change filed under Rule 19b-4(f)(6) \16\ normally
does not become operative prior to 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 BSE 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 such waiver will allow the
BSE to immediately clarify its rule and conform it to the industry-wide
close of trading times now in effect. Accelerating the operative date
will facilitate efficient and effective market operation by offering
clarity and internal consistency with existing BSE rules. For these
reasons, the
[[Page 16603]]
Commission designates the proposed rule change as effective and
operative immediately upon filing with the Commission.\17\
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\16\ Id.
\17\ For the purposes only of waiving the 30-day operative date
of this proposal, the Commission has considered the proposed rule's
impact on efficiency, competition, and capital formation. 15 U.S.C.
78c(f).
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At any time within 60-days after 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-BSE-2006-09 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 20549-1090.
All submissions should refer to File Number SR-BSE-2006-09. 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 BSE. 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-BSE-2006-09 and should be submitted on or before April
24, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\18\
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\18\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-4755 Filed 3-31-06; 8:45 am]
BILLING CODE 8010-01-P
