Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of the Pilot Program Amending Listed Company Manual Section 102.01A, 51257-51258 [E6-14300]

Download as PDF Federal Register / Vol. 71, No. 167 / Tuesday, August 29, 2006 / Notices NASD and the credits are identical to pre-existing credits established by Nasdaq and the NSX. 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: 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. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 11 and Rule 19b–4(f)(6) thereunder.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 purposes of the Act. NASD has requested that the Commission waive the 30-day operative delay contained in Rule 19b–4(f)(6)(iii) under the Act 13 because the NASD/ Nasdaq TRF commenced operating with respect to Nasdaq-listed securities on August 1, 2006. In light of the foregoing, the Commission believes such waiver is consistent with the protection of investors and the public interest. Accordingly, the Commission designates the proposal to be effective and operative upon filing with the Commission.14 IV. Solicitation of Comments Interested persons are invited to submit written data, views, and jlentini on PROD1PC65 with NOTICES U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 13 17 CFR 240.19b–4(f)(6)(iii). 14 For purposes only of waiving the 30-day operative delay of this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 12 17 VerDate Aug<31>2005 17:07 Aug 28, 2006 Jkt 208001 SECURITIES AND EXCHANGE COMMISSION Electronic Comments Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of the Pilot Program Amending Listed Company Manual Section 102.01A • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NASD–2006–090 on the subject line. [Release No. 34–54346; File No. SR–NYSE– 2006–62] August 22, 2006. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 • Send paper comments in triplicate notice is hereby given that on August to Nancy M. Morris, Secretary, 18, 2006, the New York Stock Exchange Securities and Exchange Commission, LLC (‘‘NYSE’’ or ‘‘Exchange’’) filed with 100 F Street, NE., Washington, DC the Securities and Exchange 20549–1090. Commission (‘‘Commission’’) the proposed rule change as described in All submissions should refer to File Items I and II below, which Items have Number SR–NASD–2006–090. This file been prepared by the Exchange. The number should be included on the Exchange filed the proposed rule change subject line if e-mail is used. To help the pursuant to Section 19(b)(3)(A) of the Commission process and review your Act 3 and Rule 19b–4(f)(6) thereunder,4 comments more efficiently, please use which renders the proposal effective only one method. The Commission will upon filing with the Commission. The post all comments on the Commission’s Commission is publishing this notice to Internet Web site (http://www.sec.gov/ solicit comments on the proposed rule rules/sro.shtml). Copies of the change from interested persons. submission, all subsequent amendments, all written statements I. Self-Regulatory Organization’s with respect to the proposed rule Statement of the Terms of Substance of change that are filed with the the Proposed Rule Change Commission, and all written The Exchange has amended on a three communications relating to the month pilot program basis (‘‘Pilot proposed rule change between the Program’’) Section 102.01A of the Commission and any person, other than Exchange’s Listed Company Manual those that may be withheld from the (‘‘Manual’’) regarding minimum public in accordance with the numerical standards. The Pilot Program provisions of 5 U.S.C. 552, will be is due to expire on August 31, 2006. The available for inspection and copying in Exchange proposes to extend the Pilot the Commission’s Public Reference Program until the earlier of: (i) Room. Copies of such filing also will be November 30, 2006; or (ii) the approval available for inspection and copying at by the Commission of the Exchange’s the principal office of the NASD. All proposed permanent amendment to comments received will be posted Section 102.01A. without change; the Commission does The text of the proposed rule change not edit personal identifying is available on the Exchange’s Web site information from submissions. You (http://www.nyse.com), at the should submit only information that Exchange’s Office of the Secretary, and you wish to make available publicly. All at the Commission’s Public Reference submissions should refer to File Room. Number SR–NASD–2006–090 and II. Self-Regulatory Organization’s should be submitted on or before Statement of the Purpose of, and September 19, 2006. Statutory Basis for, the Proposed Rule For the Commission, by the Division of Change Paper Comments Written comments were neither solicited nor received. 11 15 51257 Market Regulation, pursuant to delegated authority.15 Nancy M. Morris, Secretary. [FR Doc. E6–14297 Filed 8–28–06; 8:45 am] BILLING CODE 8010–01–P 15 17 PO 00000 Fmt 4703 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(6). 2 17 CFR 200.30–3(a)(12). Frm 00075 In its filing with the Commission, the Exchange included statements concerning the purpose of, and basis for, Sfmt 4703 E:\FR\FM\29AUN1.SGM 29AUN1 51258 Federal Register / Vol. 71, No. 167 / Tuesday, August 29, 2006 / Notices 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. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange has amended, through the Pilot Program,5 Section 102.01A of the Manual regarding minimum numerical standards. The Exchange has also filed a proposed rule change 6 seeking to make permanent the Pilot Program’s amendments to Section 102.01A of the Manual. The Pilot Program is due to expire on August 31, 2006.7 The Exchange proposes to extend the Pilot Program until the earlier of: (i) November 31, 2006; or (ii) the Commission’s approval of the proposed permanent amendment to Section 102.01A of the Manual. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the requirement under Section 6(b)(5) of the Act 8 that an Exchange have rules that are designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. 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. jlentini on PROD1PC65 with NOTICES 5 See Securities Exchange Act Release No. 52887 (December 5, 2005), 70 FR 73501 (December 12, 2005) (File No. SR–NYSE–2005–82). 6 See File No. SR–NYSE–2006–22, filed with the Commission on March 20, 2006. 7 See Securities Exchange Act Release No. 53777 (May 9, 2006), 71 FR 28059 (May 15, 2006) (File No. SR–NYSE–2006–27). 8 15 U.S.C. 78f(b)(5). 17:07 Aug 28, 2006 Jkt 208001 Because the foregoing proposed 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 from 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 9 and Rule 19b–4(f)(6) thereunder.10 A proposed rule change filed under Rule 19b–4(f)(6) 11 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 Exchange has requested that the Commission waive the five-day prefiling requirement and the 30-day operative delay, as specified in Rule 19b–4(f)(6)(iii), and designate the proposed rule change immediately operative. The Commission believes that waiving the five-day pre-filing provision and the 30-day operative delay is consistent with the protection of investors and the public interest.12 By waiving the pre-filing requirement and 30-day operative date, the Pilot Program can continue without interruption. At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such proposed 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 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has neither solicited nor received written comments on the proposed rule change, as amended. VerDate Aug<31>2005 III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action 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: 9 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 11 Id. 12 For purposes of waiving the 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). Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSE–2006–62 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–NYSE–2006–62. 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 (http://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 Exchange. 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–NYSE–2006–62 and should be submitted on or before September 19, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.13 Nancy M. Morris, Secretary. [FR Doc. E6–14300 Filed 8–28–06; 8:45 am] BILLING CODE 8010–01–P 10 17 PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 13 17 E:\FR\FM\29AUN1.SGM CFR 200.30–3(a)(12). 29AUN1

Agencies

[Federal Register Volume 71, Number 167 (Tuesday, August 29, 2006)]
[Notices]
[Pages 51257-51258]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-14300]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54346; File No. SR-NYSE-2006-62]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Relating to the Extension of the Pilot Program Amending Listed Company 
Manual Section 102.01A

August 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 August 18, 2006, the New York Stock Exchange LLC (``NYSE'' 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 Exchange. The Exchange 
filed the proposed rule change pursuant to Section 19(b)(3)(A) of the 
Act \3\ and Rule 19b-4(f)(6) thereunder,\4\ which renders the proposal 
effective upon filing with the Commission. The Commission is publishing 
this notice to solicit comments on the proposed rule change from 
interested persons.
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    \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).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange has amended on a three month pilot program basis 
(``Pilot Program'') Section 102.01A of the Exchange's Listed Company 
Manual (``Manual'') regarding minimum numerical standards. The Pilot 
Program is due to expire on August 31, 2006. The Exchange proposes to 
extend the Pilot Program until the earlier of: (i) November 30, 2006; 
or (ii) the approval by the Commission of the Exchange's proposed 
permanent amendment to Section 102.01A.
    The text of the proposed rule change is available on the Exchange's 
Web site (http://www.nyse.com), at the Exchange's Office of the 
Secretary, 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,

[[Page 51258]]

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.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange has amended, through the Pilot Program,\5\ Section 
102.01A of the Manual regarding minimum numerical standards. The 
Exchange has also filed a proposed rule change \6\ seeking to make 
permanent the Pilot Program's amendments to Section 102.01A of the 
Manual. The Pilot Program is due to expire on August 31, 2006.\7\ The 
Exchange proposes to extend the Pilot Program until the earlier of: (i) 
November 31, 2006; or (ii) the Commission's approval of the proposed 
permanent amendment to Section 102.01A of the Manual.
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    \5\ See Securities Exchange Act Release No. 52887 (December 5, 
2005), 70 FR 73501 (December 12, 2005) (File No. SR-NYSE-2005-82).
    \6\ See File No. SR-NYSE-2006-22, filed with the Commission on 
March 20, 2006.
    \7\ See Securities Exchange Act Release No. 53777 (May 9, 2006), 
71 FR 28059 (May 15, 2006) (File No. SR-NYSE-2006-27).
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the requirement under Section 6(b)(5) of the Act \8\ that an 
Exchange have rules that are designed to prevent fraudulent and 
manipulative acts and practices, to promote just and equitable 
principles of trade, to remove impediments to and perfect the mechanism 
of a free and open market and a national market system, and, in 
general, to protect investors and the public interest.
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    \8\ 15 U.S.C. 78f(b)(5).
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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 Exchange has neither solicited nor received written comments on 
the proposed rule change, as amended.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing proposed 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 from 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 
\9\ and Rule 19b-4(f)(6) thereunder.\10\
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    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under Rule 19b-4(f)(6) \11\ 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 Exchange has requested that the 
Commission waive the five-day pre-filing requirement and the 30-day 
operative delay, as specified in Rule 19b-4(f)(6)(iii), and designate 
the proposed rule change immediately operative.
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    \11\ Id.
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    The Commission believes that waiving the five-day pre-filing 
provision and the 30-day operative delay is consistent with the 
protection of investors and the public interest.\12\ By waiving the 
pre-filing requirement and 30-day operative date, the Pilot Program can 
continue without interruption. At any time within 60 days of the filing 
of the proposed rule change, the Commission may summarily abrogate such 
proposed 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.
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    \12\ For purposes of waiving the 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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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 (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NYSE-2006-62 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-NYSE-2006-62. 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 (http://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 Exchange. 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-NYSE-2006-62 and should be submitted on or before 
September 19, 2006.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
 [FR Doc. E6-14300 Filed 8-28-06; 8:45 am]
BILLING CODE 8010-01-P