Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of Proposed Rule Change and Amendment No. 1 Thereto Relating to a Retroactive Suspension of Transaction Charges for Specialist Orders in the Nasdaq-100 Tracking Stock® (QQQQ), 31236-31237 [E6-8486]
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<![CDATA[
31236
Federal Register / Vol. 71, No. 105 / Thursday, June 1, 2006 / Notices
incoming options quotes during high
option quote volume periods and peaks.
The Commission notes that Options
Size Mitigation operated on a pilot basis
for four months and the Amex believes
it is functioning as intended.
The Amex has requested that the
Commission find good cause for
approving the proposed rule change
prior to the thirtieth day after
publication of the notice thereof in the
Federal Register. The Commission
believes that granting accelerated
approval of the proposal will allow the
Amex to continue to operate the
Options Size Mitigation program
without interruption and thus, should
facilitate the processing of incoming
options quotes. The Commission notes
that no comments were received in
connection with the approval of the
temporary Pilot Program and no
comments have been received during
the operation of the temporary Pilot
Program. Accordingly, the Commission
finds good cause, pursuant to section
19(b)(2) of the Act,9 for approving the
proposed rule change prior to the
thirtieth day after publication of the
notice thereof in the Federal Register.
V. Conclusion
It is therefore ordered, pursuant to
section 19(b)(2) of the Act,10 that the
proposed rule change, as amended (SR–
Amex–2006–50), is hereby approved on
an accelerated basis for a period to
expire on March 5, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
Nancy M. Morris,
Secretary.
[FR Doc. E6–8477 Filed 5–31–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53871; File No. SR–Amex–
2006–42]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing of Proposed Rule Change and
Amendment No. 1 Thereto Relating to
a Retroactive Suspension of
Transaction Charges for Specialist
Orders in the Nasdaq–100 Tracking
Stock (QQQQ)
wwhite on PROD1PC61 with NOTICES
May 25, 2006.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
9 15
U.S.C. 78s(b)(2).
U.S.C. 78s(b)(2).
11 17 CFR 200.30–3(a)(12).
10 15
VerDate Aug<31>2005
19:10 May 31, 2006
Jkt 208001
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on May 2,
2006, the American Stock Exchange LLC
(‘‘Amex’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. On May 12,
2005, Amex filed Amendment No. 1 to
the proposed rule change.3 The
Commission is publishing this notice to
solicit comments on the proposed rule
change, as amended, from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to
retroactively apply a suspension of
transaction charges for specialist orders
in connection with the trading of the
Nasdaq–100 Index Tracking Stock
(Symbol: QQQQ) from March 1, 2006,
through April 5, 2006.
The text of the proposed rule change
is available on Amex’s Web site at
https://www.amex.com, at Amex’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, the
Exchange included statements
concerning the purpose of, and basis for,
the proposed rule change, as amended,
and discussed any comments it received
on the proposed rule change, as
amended. The text of these statements
may be examined at the places specified
in Item IV below, and is set forth in
Sections A, B, and C below.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange, in a companion filing
(File No. SR–Amex–2006–30), adopted a
suspension of transaction charges for
specialist orders in the Nasdaq–100
Tracking Stock (‘‘QQQQ’’) from April 6,
2006, through June 30, 2006.4 In order
1 15
U.S.C 78s(b)(1).
CFR 240.19b–4.
3 Amendment No. 1, which replaced and
superseded the original filing in its entirety, is
incorporated in this notice.
4 See Securities Exchange Act Release No. 53701
(April 21, 2006), 71 FR 25253 (April 28, 2006). The
Exchange previously adopted the suspension of
specialist transaction charges in connection with
the QQQQ from July 1, 2005, through December 31,
2005. See Securities Exchange Act Release Nos.
2 17
PO 00000
Frm 00095
Fmt 4703
Sfmt 4703
to waive transaction fees for specialist
orders in the QQQQ from March 1,
2006, through June 30, 2006, the
Exchange has proposed to retroactively
suspend transaction fees for specialist
transactions from March 1, 2006,
through April 5, 2006.
Specialist orders currently are
charged $0.0034 ($0.34 per 100 shares),
capped at $300 per trade (88,235
shares). Effective December 1, 2004, the
Nasdaq–100 Index Tracking Stock
(formerly ‘‘QQQ’’) transferred its listing
from Amex to The Nasdaq Stock Market,
Inc (‘‘Nasdaq’’). It now trades on Nasdaq
under the symbol QQQQ. After the
transfer, Amex began trading QQQQ on
an unlisted trading privileges basis.
The Exchange believes that the
retroactive suspension of transaction
charges for specialist transactions in the
QQQQ from March 1, 2006, through
April 5, 2006, is consistent with the
adoption of the proposal to suspend
transaction charges for specialist orders
generally in the QQQQ through June 30,
2006. The Exchange further believes
that a retroactive suspension of
transaction fees on specialist orders in
the QQQQ is appropriate to enhance the
competitiveness of executions on Amex.
The Exchange proposes to amend the
Amex Fee Schedule to indicate that
transaction charges for specialist orders
in the QQQQ have been suspended from
March 1, 2006, through June 30, 2006.
As detailed in File No. SR–Amex–
2006–30, the Exchange submits that a
suspension of transaction fees for
specialist orders in connection with the
QQQQ is consistent with section 6(b)(4)
of the Act.5 Specifically, the Exchange
believes that suspending transaction
charges for QQQQ specialist orders is an
equitable allocation of reasonable fees
among Exchange members. The
Exchange believes that the fact that
specialists have greater obligations than
other members and are also subject to
other Exchange fees, in addition to
transaction fees, supports this proposal
52268 (August 15, 2005), 70 FR 49336 (August 23,
2005); 52267 (August 15, 2005), 70 FR 49338
(August 23, 2005); 52460 (September 16, 2005), 70
FR 55639 (September 22, 2005); 52516 (September
27, 2005), 70 FR 58247 (October 5, 2005); and 52736
(November 4, 2005), 70 FR 69171 (November 14,
2005) (proposals previously introducing and
extending this specialist transaction fee waiver).
However, from January 1, 2006, through April 5,
2006, the specialist fee suspension for the QQQQ
lapsed; therefore, the QQQQ specialists have been
subject to transaction fees in connection with
QQQQ executions during that time period.
5 Section 6(b)(4) states that the rules of a national
securities exchange must provide for the equitable
allocation of reasonable dues, fees, and other
charges among its members and issuers and other
persons using its facilities.
E:\FR\FM\01JNN1.SGM
01JNN1
Federal Register / Vol. 71, No. 105 / Thursday, June 1, 2006 / Notices
to retroactively apply the fee
suspension.
The Exchange notes that specialists
are subject to a variety of Exchange fees
other than transaction charges, such as
a floor clerk fee, a floor facility fee, a
post fee, and a registration fee.6 In
addition, specialists and other floor
members of the Exchange are subject to
technology and membership fees.7
Certain market participants, such as
customers, non-member broker-dealers
and market-makers and member brokerdealers are not subject to the majority of
these fees. In addition, a specialist unit,
in order to adequately ‘‘make a market’’
in assigned securities, must be
sufficiently staffed 8 and have adequate
technology resources to handle the
volume of orders (especially in the
QQQQ) that are sent to the Exchange.
The Exchange believes that these
operational costs borne by a specialist
further support the proposal to
temporarily suspend QQQQ transaction
fees on specialist orders.
Specialists have certain obligations
under Exchange rules, as well as the
Act, that do not exist for other market
participants. For example, a specialist,
pursuant to Amex Rule 170, is required
to maintain a fair and orderly market in
his or her assigned securities. Other
members of the Exchange, as well as
non-member market participants, do not
have this obligation. As a result, the
Exchange believes that the proposed
retroactive suspension of transaction
charges for specialist orders in the
QQQQ is reasonable and equitable,
given the obligations that specialists
must adhere to in making markets. The
Exchange further submits that the fee
suspension will provide greater
incentive to the specialist to continue to
provide market liquidity, rendering the
Exchange an attractive venue for market
participants to execute orders.
wwhite on PROD1PC61 with NOTICES
2. Statutory Basis
The Exchange believes that the
proposed fee change is consistent with
section 6(b) of the Act,9 in general, and
furthers the objectives of section 6(b)(4)
of the Act,10 in particular, in that it is
an equitable allocation of reasonable
6 The floor clerk, floor facility, post, and
registration fees, on an annual basis, are $900,
$2,400, $1,000, and $800, respectively.
7 A technology fee of $3,000 per year is assessed
on all specialists and other floor participants at the
Exchange. Annual membership dues of $1,500 must
be paid by all members while annual membership
fees are payable depending on the type of
membership and circumstances. Non-members are
not subject to these fees.
8 See Securities Exchange Act Release No. 53386
(February 28, 2006), 71 FR 11250 (March 6, 2006).
9 15 U.S.C. 78f(b).
10 15 U.S.C. 78f(b)(4).
VerDate Aug<31>2005
19:10 May 31, 2006
Jkt 208001
dues, fees, and other charges among its
members and issuers and other persons
using its facilities.11
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes that the
proposed rule change does not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the 1934 Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received from
Members, Participants or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the Exchange consents,
the Commission will:
(A) By order approve such proposed
rule change, as amended, or
(B) Institute proceedings to determine
whether the proposed rule change, as
amended, should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change, as amended, is consistent with
the Act. Comments may be submitted by
any of the following methods:
31237
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 Amex. 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–Amex–2006–42 and should
be submitted on or before June 22, 2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6–8486 Filed 5–31–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53866; File No. SR–CBOE–
2006–44]
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–Amex–2006–42 on the
subject line.
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to Amendments
to the Communications Review Fee
and DPM Linkage Fees Credit Program
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
Number SR–Amex–2006–42. This file
number should be included on the
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 May 18,
2006, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II and III
11 At the request of the Exchange, the Commission
staff conformed this sentence to the statement made
by the Exchange in the statutory basis section of the
Exchange’s Form 19b–4 for this filing (Section 3(b)).
PO 00000
Frm 00096
Fmt 4703
Sfmt 4703
May 25, 2006.
12 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\01JNN1.SGM
01JNN1
]]>Agencies
[Federal Register Volume 71, Number 105 (Thursday, June 1, 2006)]
[Notices]
[Pages 31236-31237]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-8486]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53871; File No. SR-Amex-2006-42]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing of Proposed Rule Change and Amendment No. 1 Thereto
Relating to a Retroactive Suspension of Transaction Charges for
Specialist Orders in the Nasdaq-100 Tracking Stock[reg] (QQQQ)
May 25, 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 May 2, 2006, the American Stock Exchange LLC (``Amex'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. On May
12, 2005, Amex filed Amendment No. 1 to the proposed rule change.\3\
The Commission is publishing this notice to solicit comments on the
proposed rule change, as amended, from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Amendment No. 1, which replaced and superseded the original
filing in its entirety, is incorporated in this notice.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to retroactively apply a suspension of
transaction charges for specialist orders in connection with the
trading of the Nasdaq-100 Index Tracking Stock[supreg] (Symbol: QQQQ)
from March 1, 2006, through April 5, 2006.
The text of the proposed rule change is available on Amex's Web
site at https://www.amex.com, at Amex'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, the Exchange included statements
concerning the purpose of, and basis for, the proposed rule change, as
amended, and discussed any comments it received on the proposed rule
change, as amended. The text of these statements may be examined at the
places specified in Item IV below, and is set forth in Sections A, B,
and C below.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange, in a companion filing (File No. SR-Amex-2006-30),
adopted a suspension of transaction charges for specialist orders in
the Nasdaq-100 Tracking Stock (``QQQQ'') from April 6, 2006, through
June 30, 2006.\4\ In order to waive transaction fees for specialist
orders in the QQQQ from March 1, 2006, through June 30, 2006, the
Exchange has proposed to retroactively suspend transaction fees for
specialist transactions from March 1, 2006, through April 5, 2006.
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 53701 (April 21,
2006), 71 FR 25253 (April 28, 2006). The Exchange previously adopted
the suspension of specialist transaction charges in connection with
the QQQQ from July 1, 2005, through December 31, 2005. See
Securities Exchange Act Release Nos. 52268 (August 15, 2005), 70 FR
49336 (August 23, 2005); 52267 (August 15, 2005), 70 FR 49338
(August 23, 2005); 52460 (September 16, 2005), 70 FR 55639
(September 22, 2005); 52516 (September 27, 2005), 70 FR 58247
(October 5, 2005); and 52736 (November 4, 2005), 70 FR 69171
(November 14, 2005) (proposals previously introducing and extending
this specialist transaction fee waiver). However, from January 1,
2006, through April 5, 2006, the specialist fee suspension for the
QQQQ lapsed; therefore, the QQQQ specialists have been subject to
transaction fees in connection with QQQQ executions during that time
period.
---------------------------------------------------------------------------
Specialist orders currently are charged $0.0034 ($0.34 per 100
shares), capped at $300 per trade (88,235 shares). Effective December
1, 2004, the Nasdaq-100 Index Tracking Stock[supreg] (formerly ``QQQ'')
transferred its listing from Amex to The Nasdaq Stock Market, Inc
(``Nasdaq''). It now trades on Nasdaq under the symbol QQQQ. After the
transfer, Amex began trading QQQQ on an unlisted trading privileges
basis.
The Exchange believes that the retroactive suspension of
transaction charges for specialist transactions in the QQQQ from March
1, 2006, through April 5, 2006, is consistent with the adoption of the
proposal to suspend transaction charges for specialist orders generally
in the QQQQ through June 30, 2006. The Exchange further believes that a
retroactive suspension of transaction fees on specialist orders in the
QQQQ is appropriate to enhance the competitiveness of executions on
Amex. The Exchange proposes to amend the Amex Fee Schedule to indicate
that transaction charges for specialist orders in the QQQQ have been
suspended from March 1, 2006, through June 30, 2006.
As detailed in File No. SR-Amex-2006-30, the Exchange submits that
a suspension of transaction fees for specialist orders in connection
with the QQQQ is consistent with section 6(b)(4) of the Act.\5\
Specifically, the Exchange believes that suspending transaction charges
for QQQQ specialist orders is an equitable allocation of reasonable
fees among Exchange members. The Exchange believes that the fact that
specialists have greater obligations than other members and are also
subject to other Exchange fees, in addition to transaction fees,
supports this proposal
[[Page 31237]]
to retroactively apply the fee suspension.
---------------------------------------------------------------------------
\5\ Section 6(b)(4) states that the rules of a national
securities exchange must provide for the equitable allocation of
reasonable dues, fees, and other charges among its members and
issuers and other persons using its facilities.
---------------------------------------------------------------------------
The Exchange notes that specialists are subject to a variety of
Exchange fees other than transaction charges, such as a floor clerk
fee, a floor facility fee, a post fee, and a registration fee.\6\ In
addition, specialists and other floor members of the Exchange are
subject to technology and membership fees.\7\ Certain market
participants, such as customers, non-member broker-dealers and market-
makers and member broker-dealers are not subject to the majority of
these fees. In addition, a specialist unit, in order to adequately
``make a market'' in assigned securities, must be sufficiently staffed
\8\ and have adequate technology resources to handle the volume of
orders (especially in the QQQQ) that are sent to the Exchange. The
Exchange believes that these operational costs borne by a specialist
further support the proposal to temporarily suspend QQQQ transaction
fees on specialist orders.
---------------------------------------------------------------------------
\6\ The floor clerk, floor facility, post, and registration
fees, on an annual basis, are $900, $2,400, $1,000, and $800,
respectively.
\7\ A technology fee of $3,000 per year is assessed on all
specialists and other floor participants at the Exchange. Annual
membership dues of $1,500 must be paid by all members while annual
membership fees are payable depending on the type of membership and
circumstances. Non-members are not subject to these fees.
\8\ See Securities Exchange Act Release No. 53386 (February 28,
2006), 71 FR 11250 (March 6, 2006).
---------------------------------------------------------------------------
Specialists have certain obligations under Exchange rules, as well
as the Act, that do not exist for other market participants. For
example, a specialist, pursuant to Amex Rule 170, is required to
maintain a fair and orderly market in his or her assigned securities.
Other members of the Exchange, as well as non-member market
participants, do not have this obligation. As a result, the Exchange
believes that the proposed retroactive suspension of transaction
charges for specialist orders in the QQQQ is reasonable and equitable,
given the obligations that specialists must adhere to in making
markets. The Exchange further submits that the fee suspension will
provide greater incentive to the specialist to continue to provide
market liquidity, rendering the Exchange an attractive venue for market
participants to execute orders.
2. Statutory Basis
The Exchange believes that the proposed fee change is consistent
with section 6(b) of the Act,\9\ in general, and furthers the
objectives of section 6(b)(4) of the Act,\10\ in particular, in that it
is an equitable allocation of reasonable dues, fees, and other charges
among its members and issuers and other persons using its
facilities.\11\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f(b).
\10\ 15 U.S.C. 78f(b)(4).
\11\ At the request of the Exchange, the Commission staff
conformed this sentence to the statement made by the Exchange in the
statutory basis section of the Exchange's Form 19b-4 for this filing
(Section 3(b)).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange believes that the proposed rule change does not impose
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the 1934 Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received from Members, Participants or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the Exchange consents, the Commission will:
(A) By order approve such proposed rule change, as amended, or
(B) Institute proceedings to determine whether the proposed rule
change, as amended, should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change, as amended, 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-Amex-2006-42 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 Number SR-Amex-2006-42. 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 Amex. 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-Amex-2006-42 and should be submitted on or before June 22, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-8486 Filed 5-31-06; 8:45 am]
BILLING CODE 8010-01-P
