Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to a Back-Up Communication Channel to Internet Access for Clearing Members, 36155-36157 [E6-9694]
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<![CDATA[
Federal Register / Vol. 71, No. 121 / Friday, June 23, 2006 / Notices
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 will also be
available for inspection and copying at
the principal office of NYSE Arca. 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–NYSEArca–2006–13 and should be
submitted July 14, 2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.37
Nancy M. Morris,
Secretary.
[FR Doc. E6–9930 Filed 6–22–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54007; File No. SR–PCX–
2006–16]
Self-Regulatory Organizations; Pacific
Exchange, Inc. (n/k/a NYSE Arca, Inc.);
Order Granting Approval of a
Proposed Rule Change as Amended by
Amendments No. 1, No. 2 and No. 4, to
Revise Fees for Equity Securities
Issued by Operating Companies Listed
on the Archipelago Exchange
by operating companies listed on the
Archipelago Exchange. On March 17,
2006, the Exchange filed Amendment
No. 1 to the proposed rule change, and
on May 5, 2006, the Exchange filed
Amendment No. 2 to the proposed rule
change. The proposed rule change, as
modified by Amendments No. 1 and No.
2, was published for comment in the
Federal Register on May 12, 2006.3 On
June 16, 2006, the Exchange filed
Amendment No. 4 to the proposed rule
change.4 The Commission received no
comments on the proposal.
The proposed rule change, described
in the Notice, would amend the Fee
Schedule to revise the application,
initial, annual and additional shares
listing fees for equity securities issued
by operating companies listed on the
Archipelago Exchange, the equities
facility of the Exchange. The Exchange
also proposed related modifications to
the Fee Schedule.
The Commission has reviewed
carefully the proposed rule change and
finds that it is consistent with the
requirements of the Act and the rules
and regulations thereunder applicable to
a national securities exchange.5 In
particular, the Commission finds that
the proposed rule change is consistent
with section 6(b)(4) of the Act,6 which
requires that an exchange have an
equitable allocation of reasonable dues,
fees and other charges among its
members and other persons using its
facilities. The Commission believes the
fees are reasonably tailored to enable the
Exchange to compete effectively for
listings, while supporting the costs of
issuer services provided by the
Exchange.
It is therefore ordered, pursuant to
section 19(b)(2) of the Act,7 that the
proposed rule change as amended be,
and hereby is approved.
jlentini on PROD1PC65 with NOTICES
June 16, 2006.
On March 1, 2006, the Pacific
Exchange, Inc. (n/k/a NYSE Arca, Inc.,
‘‘NYSE Arca’’ or ‘‘Exchange’’), through
its wholly owned subsidiary PCX
Equities, Inc. (n/k/a NYSE Arca
Equities, Inc.), filed with the Securities
and Exchange Commission
(‘‘Commission’’), pursuant to section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’),1 and Rule 19b–4
thereunder,2 a proposed rule change to
revise its Schedule of Fees and Charges
(‘‘Fee Schedule’’) to revise certain
listing fees for equity securities issued
37 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
VerDate Aug<31>2005
17:22 Jun 22, 2006
Jkt 208001
3 See Securities Exchange Act Release No. 53764
(May 5, 2006), 71 FR 27764 (‘‘Notice’’).
4 In Amendment No. 4, the Exchange made
changes to conform the proposed rule text to its
description in the filing to and correct
typographical errors. Amendment No. 4 is a
technical amendment and is not subject to notice
and comment. The Exchange filed Amendment No.
3 to the proposed rule change on June 5, 2006 and
withdrew it on June 16, 2006.
5 In approving this proposed rule change, the
Commission notes that it has considered the
proposed rule’s impact on efficiency, competition
and capital formation. See 15 U.S.C. 78c(f).
6 15 U.S.C. 78f(b)(4).
7 15 U.S.C. 78s(b)(2).
PO 00000
Frm 00103
Fmt 4703
Sfmt 4703
36155
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.8
Nancy M. Morris,
Secretary.
[FR Doc. E6–9933 Filed 6–22–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53980; File No. SR–OCC–
2006–04]
Self-Regulatory Organizations; The
Options Clearing Corporation; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change Relating to
a Back-Up Communication Channel to
Internet Access for Clearing Members
June 14, 2006.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 notice is hereby given that on
April 27, 2006, The Options Clearing
Corporation (‘‘OCC’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change described in Items I, II, and III
below, which items have been prepared
primarily by OCC. OCC filed the
proposed rule change pursuant to
Section 19(b)(3)(A)(i) of the Act 2 and
Rule 19b–4(f)(1) thereunder 3 so that the
proposal was effective upon filing with
the Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested parties.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The proposed rule change adopts a
policy statement that requires each
clearing member that uses the Internet
as its primary means to access OCC
information and data systems through a
secure website to maintain a secure
backup to Internet access in order to
provide for business continuance
should there be an Internet outage.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
OCC 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
8 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78s(b)(3)(A)(i).
3 17 CFR 240.19b–4(f)(1).
1 15
E:\FR\FM\23JNN1.SGM
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36156
Federal Register / Vol. 71, No. 121 / Friday, June 23, 2006 / Notices
may be examined at the places specified
in Item IV below. OCC has prepared
summaries, set forth in sections (A), (B),
and (C) below, of the most significant
aspects of these statements.4
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In 1997, OCC introduced a system
called ECMI (Enhanced Clearing
Member Interface) for clearing members
to access C/MACS, OCC’s post-trade and
collateral processing system. At the
time, all clearing members were
required to use ECMI either as their
primary means of access or as a backup to a dedicated T1 line. In 2002, with
the deployment of ENCORE for
positions processing, clearing members
were able to access ENCORE for
processing position-related post-trade
transactions anytime from anywhere
through OCC’s secure website by using
the Internet. With the deployment of
ENCORE Release 4.5 (Collateral), all
post-trade transactions, including
collateral transactions, could be
accomplished using an Internet
connection to the secure Web site. Most
clearing members have now adopted the
Internet as their primary means of
accessing the secure website, and
although some clearing members
continue to use ECMI as a back-up
communication channel, the current
ECMI dial-up access does not provide
the high speed and performance level
necessary for daily ENCORE activity.
With so many clearing members
relying on the Internet as their primary
means of accessing OCC information
and data systems, OCC has determined
to adopt a policy statement that requires
such clearing members to maintain (i)
separate service agreements with two
independent internet service providers
and (ii) a back-up to Internet access
through an approved communication
channel. OCC will determine if a
clearing member’s selected back-up
communication channel is applicable to
that clearing member by reference to
guidelines, set forth in the following
chart, incorporated within the policy
statement.
Business profile
Back-up communication channel
Category A
•
•
•
•
•
•
•
•
Ranks in the top 25 Clearing Members with the highest cleared volume during a calendar year ............
Clears more than one account type as defined in OCC’s By-Laws and Rules.
Clears two or more product types.
Conducts Clearing Member Trade Assignment (‘‘CMTA’’) business.
High volume of daily post-trade input.
Generally utilizes multiple forms of collateral.
Utilizes most ancillary services offered by OCC.
Currently uses Lease Line for data transmissions.
T1 Line.
Category B
•
•
•
•
•
•
Has mid-level volume .................................................................................................................................
Clears only one or more account types as defined in OCC’s By-Laws and Rules.
Clears one or more product types.
Moderate to small volume of post-trade input.
Generally utilizes one or two forms of collateral.
May utilize Lease Line for data transmissions.
T1 Line or ISDN.
Category C
•
•
•
•
•
Has low-level volume ..................................................................................................................................
Clears no more than one account type as defined in OCC’s By-Laws and Rules.
Clears no more than one product type.
Generally utilizes one or two forms of collateral.
Minimal post-trade input.
ISDN, OCC office 1 or fax input.
1 Smaller firms that rely solely on the Internet can utilize OCC equipment if the clearing member is located in or near a city where OCC maintains operational centers.
jlentini on PROD1PC65 with NOTICES
OCC’s purpose in adopting this policy
statement is to ensure that clearing
members maintain secure back-ups to
Internet access in order to be able to
perform critical business activities in a
timely manner even in the event of an
Internet outage 5 The Policy Statement,
which became effective on May 1, 2006,
was not incorporated into OCC’s Rules
but was implemented as a stand-alone
document 6 Clearing members have
already been notified about the adoption
of this policy statement and its effective
date.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Written comments were not and are
not intended to be solicited with respect
to the proposed rule change, and none
have been received.
4 The Commission has modified the text of the
summaries prepared by OCC.
5 In File No. SR–OCC–2006–03, OCC reduced the
fixed monthly ancillary services fees charged to
Tier I, II, and III clearing members to reflect the
termination of the ECMI Interface and to partially
offset the additional cost of establishing a back-up
communication channel. This fee reduction became
effective in April, 2006.
6 Conforming changes are also being made to the
Supplement to Agreement for OCC Services for
Internet Access (‘‘Supplement’’) to incorporate the
Policy Statement into the terms of the Supplement.
Copies of Amendment No. 1 to the Supplement to
be executed by existing clearing members, as well
as the Amended and Restated Supplement for new
clearing members are attached to the proposed rule
filing. Language proposed to be added to the
VerDate Aug<31>2005
17:22 Jun 22, 2006
Jkt 208001
OCC does not believe that the
proposed rule change would impose any
burden on competition.
PO 00000
Frm 00104
Fmt 4703
Sfmt 4703
Amended and Restated Supplement is underlined.
Language proposed to be deleted is in brackets. See
also Securities Exchange Act Release No. 46152
(July 1, 2002) 67 FR 45166 (July 8, 2002) [File No.
SR–OCC–2001–09] for the text of the original
Supplement.
E:\FR\FM\23JNN1.SGM
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Federal Register / Vol. 71, No. 121 / Friday, June 23, 2006 / Notices
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective upon filing pursuant to Section
19(b)(3)(A)(i) of the Act 7 and Rule 19b–
4(f)(1) 8 thereunder because it
constitutes a stated policy, practice, or
interpretation with respect to the
meaning, administration, or
enforcement of an existing rule. At any
time within sixty days of the filing of
such 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:
jlentini on PROD1PC65 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–OCC–2006–04 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–OCC–2006–04. 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
7 15
8 17
U.S.C. 78s(b)(3)(A)(i).
CFR 240.19b–4(f)(1).
VerDate Aug<31>2005
17:22 Jun 22, 2006
Jkt 208001
the Commission’s Public Reference
Section, 100 F Street, NE., Washington,
DC 20549. Copies of such filing also will
be available for inspection and copying
at the principal office of OCC and on
OCC’s Web site at https://
www.optionsclearing.com. 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–OCC–2006–04 and should
be submitted on or before July 14, 2006.
For the Commission by the Division of
Market Regulation, pursuant to delegated
authority.9
Nancy M. Morris,
Secretary.
[FR Doc. E6–9694 Filed 6–22–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54011; File No. SR–Phlx–
2005–65]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Order Granting Accelerated Approval
of Proposed Rule Change as Amended
by Amendment No. 1 Relating to the
Exchange’s Business Conduct
Committee and Disciplinary Rules
June 16, 2006.
I. Introduction
On November 2, 2005, the
Philadelphia Stock Exchange, Inc.
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) a proposed rule change
pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’)1 and Rule 19b–4 thereunder,2 to
amend the Exchange By-Law Article X,
Section 10–11 (‘‘Business Conduct
Committee’’) and Exchange Rules 960
and 970, the disciplinary rules. The
Phlx filed Amendment No. 1 to the
proposed rule change on May 16, 2006.
The proposed rule change, as amended,
was published for comment in the
Federal Register on May 26, 2006 for a
15-day comment period, which ended
on June 12, 2006.3 The Commission
received no comments on the proposal.
This order approves the proposed rule
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 53846
(May 19, 2006), 71 FR 30462.
1 15
PO 00000
Frm 00105
Fmt 4703
Sfmt 4703
36157
change, as amended, on an accelerated
basis.
II. Description of the Proposed Rule
Change
The Phlx proposes to create the new
staff position of a ‘‘Hearing Officer,’’
who, along with two other Hearing
Panelists, would hear contested
disciplinary matters that are currently
heard by a Panel appointed by the
Chairman of the Business Conduct
Committee (‘‘BCC’’ or ‘‘Committee’’). In
connection with creating the Hearing
Officer position, the Phlx proposes to
amend Exchange By-law Article X,
Section 10–11, which governs the BCC,
and Exchange Rules 960 and 970, the
disciplinary rules.
Background
Pursuant to Exchange Rule 960.5(a), a
hearing on a Statement of Charges is
currently held before a Hearing Panel
composed of three persons appointed by
the Chairman of the BCC or the
Chairman’s designee. The presiding
person of each Hearing Panel is a
member of the Committee. The other
two persons on the Hearing Panel are
members of the Exchange, or general
partners or officers of member
organizations, or such other persons
whom the Chairman of the BCC or the
Chairman’s designee considers to be
qualified.
Pursuant to Exchange Rule
960.5(a)(4), Hearing Panelists currently
may be compensated in extraordinary
cases, as determined by the Chairman of
the BCC, in consultation with the
Chairman of the Board of Governors.
Exchange Rule 960.5(a)(4) provides
factors to be considered when
determining whether a case is
extraordinary, which include but are not
limited to the anticipated length of time
of the hearing, the complexity and
seriousness of the matter, and the
magnitude of the potential penalty.
Currently, pursuant to Exchange Rule
960.5(d), after the conclusion of the
hearing, the Hearing Panel reviews the
entire record of the proceeding and
submits a written hearing report to the
Committee containing proposed
findings of fact concerning the
allegations in the Statement of Charges,
conclusions as to whether a violation
within the disciplinary jurisdiction of
the Exchange has occurred and an
enumeration of such violations, and
recommendations as to appropriate
sanctions, to be considered by the
Committee at the next Committee
meeting after the report is completed.
Pursuant to Exchange Rule 960.8,
currently, after reviewing the entire
record of the disciplinary proceeding,
E:\FR\FM\23JNN1.SGM
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]]>Agencies
[Federal Register Volume 71, Number 121 (Friday, June 23, 2006)]
[Notices]
[Pages 36155-36157]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-9694]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53980; File No. SR-OCC-2006-04]
Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to a Back-Up Communication Channel to Internet Access for
Clearing Members
June 14, 2006.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on April 27, 2006, The
Options Clearing Corporation (``OCC'') filed with the Securities and
Exchange Commission (``Commission'') the proposed rule change described
in Items I, II, and III below, which items have been prepared primarily
by OCC. OCC filed the proposed rule change pursuant to Section
19(b)(3)(A)(i) of the Act \2\ and Rule 19b-4(f)(1) thereunder \3\ so
that the proposal was effective upon filing with the Commission. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested parties.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78s(b)(3)(A)(i).
\3\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The proposed rule change adopts a policy statement that requires
each clearing member that uses the Internet as its primary means to
access OCC information and data systems through a secure website to
maintain a secure backup to Internet access in order to provide for
business continuance should there be an Internet outage.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, OCC 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
[[Page 36156]]
may be examined at the places specified in Item IV below. OCC has
prepared summaries, set forth in sections (A), (B), and (C) below, of
the most significant aspects of these statements.\4\
---------------------------------------------------------------------------
\4\ The Commission has modified the text of the summaries
prepared by OCC.
---------------------------------------------------------------------------
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In 1997, OCC introduced a system called ECMI (Enhanced Clearing
Member Interface) for clearing members to access C/MACS, OCC's post-
trade and collateral processing system. At the time, all clearing
members were required to use ECMI either as their primary means of
access or as a back-up to a dedicated T1 line. In 2002, with the
deployment of ENCORE for positions processing, clearing members were
able to access ENCORE for processing position-related post-trade
transactions anytime from anywhere through OCC's secure website by
using the Internet. With the deployment of ENCORE Release 4.5
(Collateral), all post-trade transactions, including collateral
transactions, could be accomplished using an Internet connection to the
secure Web site. Most clearing members have now adopted the Internet as
their primary means of accessing the secure website, and although some
clearing members continue to use ECMI as a back-up communication
channel, the current ECMI dial-up access does not provide the high
speed and performance level necessary for daily ENCORE activity.
With so many clearing members relying on the Internet as their
primary means of accessing OCC information and data systems, OCC has
determined to adopt a policy statement that requires such clearing
members to maintain (i) separate service agreements with two
independent internet service providers and (ii) a back-up to Internet
access through an approved communication channel. OCC will determine if
a clearing member's selected back-up communication channel is
applicable to that clearing member by reference to guidelines, set
forth in the following chart, incorporated within the policy statement.
----------------------------------------------------------------------------------------------------------------
Business profile Back-up communication channel
----------------------------------------------------------------------------------------------------------------
Category A
----------------------------------------------------------------------------------------------------------------
Ranks in the top 25 Clearing Members T1 Line.
with the highest cleared volume during a
calendar year.
Clears more than one account type as
defined in OCC's By-Laws and Rules.
Clears two or more product types.
Conducts Clearing Member Trade
Assignment (``CMTA'') business.
High volume of daily post-trade input.
Generally utilizes multiple forms of
collateral.
Utilizes most ancillary services
offered by OCC.
Currently uses Lease Line for data
transmissions.
----------------------------------------------------------------------------------------------------------------
Category B
----------------------------------------------------------------------------------------------------------------
Has mid-level volume.................. T1 Line or ISDN.
Clears only one or more account types
as defined in OCC's By-Laws and Rules.
Clears one or more product types.
Moderate to small volume of post-trade
input.
Generally utilizes one or two forms of
collateral.
May utilize Lease Line for data
transmissions.
----------------------------------------------------------------------------------------------------------------
Category C
----------------------------------------------------------------------------------------------------------------
Has low-level volume.................. ISDN, OCC office 1 or fax input.
Clears no more than one account type
as defined in OCC's By-Laws and Rules.
Clears no more than one product type.
Generally utilizes one or two forms of
collateral.
Minimal post-trade input.
----------------------------------------------------------------------------------------------------------------
\1\ Smaller firms that rely solely on the Internet can utilize OCC equipment if the clearing member is located
in or near a city where OCC maintains operational centers.
OCC's purpose in adopting this policy statement is to ensure that
clearing members maintain secure back-ups to Internet access in order
to be able to perform critical business activities in a timely manner
even in the event of an Internet outage \5\ The Policy Statement, which
became effective on May 1, 2006, was not incorporated into OCC's Rules
but was implemented as a stand-alone document \6\ Clearing members have
already been notified about the adoption of this policy statement and
its effective date.
---------------------------------------------------------------------------
\5\ In File No. SR-OCC-2006-03, OCC reduced the fixed monthly
ancillary services fees charged to Tier I, II, and III clearing
members to reflect the termination of the ECMI Interface and to
partially offset the additional cost of establishing a back-up
communication channel. This fee reduction became effective in April,
2006.
\6\ Conforming changes are also being made to the Supplement to
Agreement for OCC Services for Internet Access (``Supplement'') to
incorporate the Policy Statement into the terms of the Supplement.
Copies of Amendment No. 1 to the Supplement to be executed by
existing clearing members, as well as the Amended and Restated
Supplement for new clearing members are attached to the proposed
rule filing. Language proposed to be added to the Amended and
Restated Supplement is underlined. Language proposed to be deleted
is in brackets. See also Securities Exchange Act Release No. 46152
(July 1, 2002) 67 FR 45166 (July 8, 2002) [File No. SR-OCC-2001-09]
for the text of the original Supplement.
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
OCC does not believe that the proposed rule change would impose any
burden on competition.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments were not and are not intended to be solicited with
respect to the proposed rule change, and none have been received.
[[Page 36157]]
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective upon filing pursuant
to Section 19(b)(3)(A)(i) of the Act \7\ and Rule 19b-4(f)(1) \8\
thereunder because it constitutes a stated policy, practice, or
interpretation with respect to the meaning, administration, or
enforcement of an existing rule. At any time within sixty days of the
filing of such 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A)(i).
\8\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
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-OCC-2006-04 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-OCC-2006-04. 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 Section, 100 F Street,
NE., Washington, DC 20549. Copies of such filing also will be available
for inspection and copying at the principal office of OCC and on OCC's
Web site at https://www.optionsclearing.com. 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-OCC-2006-04 and should be submitted on
or before July 14, 2006.
For the Commission by the Division of Market Regulation,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-9694 Filed 6-22-06; 8:45 am]
BILLING CODE 8010-01-P
