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]
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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 (https://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 (https://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
(https://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 (https://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 (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 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
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CFR 200.30–3(a)(12).
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]]>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]
-----------------------------------------------------------------------
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.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
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 (https://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.
---------------------------------------------------------------------------
\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).
---------------------------------------------------------------------------
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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
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.
---------------------------------------------------------------------------
\11\ Id.
---------------------------------------------------------------------------
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.
---------------------------------------------------------------------------
\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).
---------------------------------------------------------------------------
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-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 (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 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\
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Nancy M. Morris,
Secretary.
[FR Doc. E6-14300 Filed 8-28-06; 8:45 am]
BILLING CODE 8010-01-P
