Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Clarify the Applicability of Certain Rules to Securities Also Listed on the Nasdaq Capital Market and the Nasdaq Global Market, 51243-51245 [E6-14301]
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Federal Register / Vol. 71, No. 167 / Tuesday, August 29, 2006 / Notices
Act 9. Specifically, the Exchange
believes the proposed rule change is
consistent with the Section 6(b)(5) Act 10
requirements that the rules of an
exchange be designed to promote just
and equitable principles of trade, to
prevent fraudulent and manipulative
acts and, in general, to protect investors
and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition that is not
necessary or appropriate in furtherance
of purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has become effective pursuant to
Section 19(b)(3)(A) of the Act 11 and
Rule 19b–4(f)(6) thereunder 12 because
the proposed rule change: (1) Does not
significantly affect the protection of
investors or the public interest; (2) does
not impose any significant burden on
competition; and (3) does not become
operative for 30 days from the date of
filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest pursuant to Section
19(b)(3)(A) of the Act 13 and Rule 19b–
4(f)(6) 14 thereunder.
The Exchange has requested that the
Commission waive the five-day prefiling notice requirement and the 30-day
operative delay.15 The Commission is
exercising its authority to waive the
five-day pre-filing notice requirement
and believes that the waiver of the 30day operative delay is consistent with
the protection of investors and the
public interest. Waiver of the five-day
pre-filing and 30-day operative periods
will extend the Pilot, which would
otherwise expire on September 7, 2006,
and allow the Exchange to continue in
its efforts to obtain a surveillance
agreement with the Bolsa. Accordingly,
the Commission designates the proposal
jlentini on PROD1PC65 with NOTICES
9 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
11 15 U.S.C. 78s(b)(3)(A).
12 17 CFR 240.19b–4(f)(6).
13 15 U.S.C. 78s(b)(3)(A).
14 17 CFR 240.19b–4(f)(6).
15 17 CFR 240.19b–4(f)(6)(iii).
10 15
VerDate Aug<31>2005
17:07 Aug 28, 2006
to be effective and operative upon filing
with the Commission.16
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 the furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–CBOE–2006–72 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–CBOE–2006–72. 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 20549–1090. Copies of such filing
also will be available for inspection and
copying at the principal office of the
CBOE. All comments received will be
16 For the purposes only 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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51243
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–CBOE–2006–72 and should
be submitted on or before September 19,
2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.17
Nancy M. Morris,
Secretary.
[FR Doc. E6–14274 Filed 8–28–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54354; File No. SR–Amex–
2006–73]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change To Clarify
the Applicability of Certain Rules to
Securities Also Listed on the Nasdaq
Capital Market and the Nasdaq Global
Market
August 23, 2006.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August 9,
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 and II
below, which Items have been prepared
by the Amex. The Exchange filed the
proposal as a ‘‘non-controversial’’
proposed rule change pursuant to
Section 19(b)(3)(A) of the Act,3 and Rule
19b-4(f)(6) thereunder,4 which renders
the proposal effective upon filing with
the Commission.5 The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Amex proposes minor, technical
changes to Rules 7 (Commentary .02),
24, 109 (Commentary .02), 115
17 CFR
200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
5 The Amex asked the Commission to waive the
five-day pre-filing notice requirement and the 30day operative delay. See Rule 19b 4(f)(6)(iii). 17
CFR 240.19b-4(f)(6)(iii).
1 15
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51244
Federal Register / Vol. 71, No. 167 / Tuesday, August 29, 2006 / Notices
(Commentary .01), 118, 131
(Commentary .02), 131A, 156
(Commentary .01), 170 (Commentary
.11), 190 (Commentary .06) and 1301
and Section 142 of the Company Guide
to clarify the applicability of such rules
to securities that are also listed on the
Nasdaq Capital Market (‘‘NCM’’) and the
Nasdaq Global Market (formerly referred
to as the Nasdaq National Market,6
‘‘NGM’’) (NCM and NGM are
collectively referred to as ‘‘Nasdaq.’’)
The text of the proposed rule change is
available at the Amex, at the
Commission’s Public Reference Room,
and at www.amex.com.
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
Amex 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
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.
2. Statutory Basis
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
On May 9, 2006, the Commission
approved a proposed rule change by the
Exchange that reduced the initial and
annual listing fees for companies listed
on another securities market that dual
list on the Amex and made appropriate
rule changes to accommodate the listing
and trading of Nasdaq securities on the
Amex.7 Specifically, the Exchange
expanded the scope of Rule 118 to
include the trading of (i) NCM
securities, in addition to NGM
securities, pursuant to unlisted trading
privileges (‘‘UTP’’) and (ii) Nasdaq
securities that are listed on the Amex.
As a result, the following provisions
which were previously only applicable
to NGM securities traded on a UTP basis
on the Amex now cover NCM securities
traded on a UTP basis on the Amex and
Nasdaq securities with dual listings on
the Amex: Rule 1 (Commentary .05);
Rule 3; Rule 7 (Commentary .02); Rule
24; Rule 109 (Commentary .02); Rule
jlentini on PROD1PC65 with NOTICES
115 (Commentary .01); Rule 118; Rule
126 (Commentary .06); Rule 128A; Rule
131 (Commentaries .02 and .03); Rule
131A; Rule 135A; Rule 156
(Commentary .01); Rule 170
(Commentary .11); Rule 175; Rule 190
(Commentary .06); Rule 205
(Commentary .05); Rule 1301; and
Section 142 of the Company Guide.
The purpose of this filing is to make
minor changes to certain of the above
provisions to make explicit their
applicability to both Nasdaq securities
traded on the Amex on a UTP basis and
Nasdaq securities with dual listings on
the Amex. Specifically, the Exchange
proposes deleting the phrase ‘‘pursuant
to unlisted trading privileges’’ following
the defined term ‘‘Nasdaq securities’’
and, where appropriate, to add a
reference to Rule 118. Furthermore, the
Exchange proposes augmenting the
references in Commentary .01 to Rule
118 to include all of the rules applicable
to trading in Nasdaq securities. The
Exchange believes that the proposed
rule change will clearly identify the
Amex rules that should be consulted by
members and member organizations
trading Nasdaq securities on the Amex.
The Amex believes that the proposed
rule change is consistent with Section
6(b) of the Act,8 in general, and furthers
the objectives of Sections 6(b)(5) of the
Act,9 in particular, in that it is 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; and is not designed to
permit unfair discrimination between
customers, issuers, brokers, or dealers,
or to regulate by virtue of any authority
conferred by the Act matters not related
to the purpose of the Act or the
administration of the Exchange.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Amex believes the proposed rule
change does not 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
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
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 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 10 and Rule 19b–4(f)(6)
thereunder.11
At any time within 60 days of the
filing of such 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.
The Amex has requested that the
Commission waive the five-day prefiling notice requirement and the 30-day
operative delay contained in Rule 19b4(f)(6)(iii) under the Act.12 Because the
proposed rule change raises no novel
issues, and serves to clarify the
applicability of certain rules to
securities that are also listed on the
Nasdaq Capital Market and the Nasdaq
Global Market, 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.13
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:
10 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
12 17 CFR 240.19b 4(f)(6)(iii).
13 13 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).
11 17
6 See Securities Exchange Act Release No. 54071
(June 29, 2006), 71 (June 29, 2006,) 71 FR 38922
(July 10, 2006)(SR–NASD–2006–068).
7 Securities Exchange Act Release No. 53778 (May
9, 2006), 71 FR 28057 (May 15, 2006) (SR–Amex–
2005–125).
VerDate Aug<31>2005
17:07 Aug 28, 2006
Jkt 208001
8 15
9 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00062
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Federal Register / Vol. 71, No. 167 / Tuesday, August 29, 2006 / 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–Amex–2006–73 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.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54351; File No. SR–Amex–
2006–44]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing of a Proposed Rule Change
and Amendments No. 1 and 2 Thereto
Relating to the Listing and Trading of
the DB Currency Index Value Fund
August 23, 2006.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934 (‘‘Act’’
or ‘‘Exchange Act’’),1 and Rule 19b–4
thereunder,2 notice is hereby given that
All submissions should refer to File
on May 2, 2006, the American Stock
Number SR–Amex–2006–73. This file
Exchange LLC (‘‘Amex’’ or ‘‘Exchange’’)
number should be included on the
filed with the Securities and Exchange
subject line if e-mail is used. To help the Commission (‘‘Commission’’) the
Commission process and review your
proposed rule change as described in
comments more efficiently, please use
Items I, II, and III below, which Items
only one method. The Commission will have been prepared by Amex. On July
post all comments on the Commission’s 31, 2006, Amex filed Amendment No. 1
to the proposed rule change.3 On
Internet Web site (https://www.sec.gov/
August 18, 2006, Amex filed
rules/sro.shtml). Copies of the
Amendment No. 2 to the proposed rule
submission, all subsequent
change.4 The Commission is publishing
amendments, all written statements
this notice to solicit comments on the
with respect to the proposed rule
proposed rule change, as amended, from
change that are filed with the
interested persons.
Commission, and all written
communications relating to the
I. Self-Regulatory Organization’s
proposed rule change between the
Statement of the Terms of Substance of
Commission and any person, other than the Proposed Rule Change
those that may be withheld from the
Pursuant to Commentary .07 to Amex
public in accordance with the
Rule 1202, which permits the listing
provisions of 5 U.S.C. 552, will be
and trading of shares of trust issued
available for inspection and copying in
receipts (‘‘TIRs’’) that invest in shares or
the Commission’s Public Reference
securities (the ‘‘Investment Shares’’) of a
Room. Copies of such filing also will be trust, partnership, commodity pool or
available for inspection and copying at
other similar entity that holds
the principal office of the Amex. All
investments comprising, or otherwise
comments received will be posted
based on, any combination of securities,
without change; the Commission does
futures contracts, swaps, forward
not edit personal identifying
contracts, options on futures contracts,
information from submissions. You
commodities or portfolios of
investments, the Exchange seeks to list
should submit only information that
you wish to make available publicly. All and trade the DB Currency Index Value
Fund (the ‘‘Trust’’ or ‘‘Fund’’). In
submissions should refer to File
Number SR–Amex–2006–73 and should connection with the proposal, Amex
be submitted on or before September 19, also seeks to amend Commentary .02 to
Amex Rule 1200. The text of the
2006.
proposed rule change, as amended, is
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.14
Nancy M. Morris,
Secretary.
[FR Doc. E6–14301 Filed 8–28–06; 8:45 am]
jlentini on PROD1PC65 with NOTICES
BILLING CODE 8010–01–P
14 17
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
17:07 Aug 28, 2006
Jkt 208001
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 In Amendment No. 1, Amex made clarifying
changes to the proposal regarding the index
methodology, the structure of the Fund, and the
dissemination of information relating to the Index
and Fund. In Amendment No. 1, the Exchange also
amended Commentary .02 to Amex Rule 1200 to
conform to Amex’s current trading hours.
4 In Amendment No. 2, Amex made additional
clarifying changes to the proposal, including among
others, details regarding the dissemination of the
Index value, intraday indicative value, and net asset
value of the Investment Shares.
2 17
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51245
below. Proposed new language is in
italics.
*
*
*
*
*
Rules of General Applicability
Amex Rule 1200
(a) No Change.
(b) No Change.
* * * Commentary
.01 No Change.
.02 Transactions in Trust Issues
Receipts may be effected until 4 p.m. or
4:15 p.m. each business day.
.03 No Change.
*
*
*
*
*
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
Amex 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
may be examined at the places specified
in Item IV below, and the most
significant aspects of such statements
are set forth in Sections A, B, and C
below.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Introduction
Pursuant to Commentary .07 to Amex
Rule 1202, the Exchange may approve
for listing and trading TIRs investing in
Investment Shares that hold
investments in any combination of
securities, futures contracts, options on
futures contracts, swaps, forward
contracts, commodities, or portfolios of
investments. The Amex proposes to list
for trading the shares of the Fund (the
‘‘Shares’’), which represent beneficial
ownership interests in the Fund’s net
assets, consisting solely of the common
units of beneficial interests of DB
Currency Index Value Master Fund (the
‘‘Master Fund’’). The Master Fund is a
statutory trust created under Delaware
law whose investment portfolio will
consist primarily of futures contracts on
the currencies comprising the Deutsche
Bank G10 Currency Future Harvest
IndexTM—Excess Return (the ‘‘DBCHI’’
or ‘‘Index’’) and securities for margin
purposes. Both the Fund and the Master
Fund will be commodity pools operated
by DB Commodity Services LLC (the
‘‘Managing Owner’’). The Managing
Owner is registered as a commodity
E:\FR\FM\29AUN1.SGM
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]]>Agencies
[Federal Register Volume 71, Number 167 (Tuesday, August 29, 2006)]
[Notices]
[Pages 51243-51245]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-14301]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-54354; File No. SR-Amex-2006-73]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Clarify the Applicability of Certain Rules to Securities Also Listed on
the Nasdaq Capital Market and the Nasdaq Global Market
August 23, 2006.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on August 9, 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 and
II below, which Items have been prepared by the Amex. The Exchange
filed the proposal as a ``non-controversial'' proposed rule change
pursuant to Section 19(b)(3)(A) of the Act,\3\ and Rule 19b-4(f)(6)
thereunder,\4\ which renders the proposal effective upon filing with
the Commission.\5\ The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6).
\5\ The Amex asked the Commission to waive the five-day pre-
filing notice requirement and the 30-day operative delay. See Rule
19b 4(f)(6)(iii). 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Amex proposes minor, technical changes to Rules 7 (Commentary
.02), 24, 109 (Commentary .02), 115
[[Page 51244]]
(Commentary .01), 118, 131 (Commentary .02), 131A, 156 (Commentary
.01), 170 (Commentary .11), 190 (Commentary .06) and 1301 and Section
142 of the Company Guide to clarify the applicability of such rules to
securities that are also listed on the Nasdaq Capital Market (``NCM'')
and the Nasdaq Global Market (formerly referred to as the Nasdaq
National Market,\6\ ``NGM'') (NCM and NGM are collectively referred to
as ``Nasdaq.'') The text of the proposed rule change is available at
the Amex, at the Commission's Public Reference Room, and at
www.amex.com.
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 54071 (June 29,
2006), 71 (June 29, 2006,) 71 FR 38922 (July 10, 2006)(SR-NASD-2006-
068).
---------------------------------------------------------------------------
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 Amex 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 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
On May 9, 2006, the Commission approved a proposed rule change by
the Exchange that reduced the initial and annual listing fees for
companies listed on another securities market that dual list on the
Amex and made appropriate rule changes to accommodate the listing and
trading of Nasdaq securities on the Amex.\7\ Specifically, the Exchange
expanded the scope of Rule 118 to include the trading of (i) NCM
securities, in addition to NGM securities, pursuant to unlisted trading
privileges (``UTP'') and (ii) Nasdaq securities that are listed on the
Amex. As a result, the following provisions which were previously only
applicable to NGM securities traded on a UTP basis on the Amex now
cover NCM securities traded on a UTP basis on the Amex and Nasdaq
securities with dual listings on the Amex: Rule 1 (Commentary .05);
Rule 3; Rule 7 (Commentary .02); Rule 24; Rule 109 (Commentary .02);
Rule 115 (Commentary .01); Rule 118; Rule 126 (Commentary .06); Rule
128A; Rule 131 (Commentaries .02 and .03); Rule 131A; Rule 135A; Rule
156 (Commentary .01); Rule 170 (Commentary .11); Rule 175; Rule 190
(Commentary .06); Rule 205 (Commentary .05); Rule 1301; and Section 142
of the Company Guide.
---------------------------------------------------------------------------
\7\ Securities Exchange Act Release No. 53778 (May 9, 2006), 71
FR 28057 (May 15, 2006) (SR-Amex-2005-125).
---------------------------------------------------------------------------
The purpose of this filing is to make minor changes to certain of
the above provisions to make explicit their applicability to both
Nasdaq securities traded on the Amex on a UTP basis and Nasdaq
securities with dual listings on the Amex. Specifically, the Exchange
proposes deleting the phrase ``pursuant to unlisted trading
privileges'' following the defined term ``Nasdaq securities'' and,
where appropriate, to add a reference to Rule 118. Furthermore, the
Exchange proposes augmenting the references in Commentary .01 to Rule
118 to include all of the rules applicable to trading in Nasdaq
securities. The Exchange believes that the proposed rule change will
clearly identify the Amex rules that should be consulted by members and
member organizations trading Nasdaq securities on the Amex.
2. Statutory Basis
The Amex believes that the proposed rule change is consistent with
Section 6(b) of the Act,\8\ in general, and furthers the objectives of
Sections 6(b)(5) of the Act,\9\ in particular, in that it is 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;
and is not designed to permit unfair discrimination between customers,
issuers, brokers, or dealers, or to regulate by virtue of any authority
conferred by the Act matters not related to the purpose of the Act or
the administration of the Exchange.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
Amex believes the proposed rule change does not 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
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
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 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
\10 \and Rule 19b-4(f)(6) thereunder.\11 \
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\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6).
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At any time within 60 days of the filing of such 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.
The Amex has requested that the Commission waive the five-day pre-
filing notice requirement and the 30-day operative delay contained in
Rule 19b-4(f)(6)(iii) under the Act.\12\ Because the proposed rule
change raises no novel issues, and serves to clarify the applicability
of certain rules to securities that are also listed on the Nasdaq
Capital Market and the Nasdaq Global Market, 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.\13 \
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\12\ 17 CFR 240.19b 4(f)(6)(iii).
\13\ 13 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).
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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:
[[Page 51245]]
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-2006-73 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-2006-73. 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 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-2006-73 and should be submitted on or before
September 19, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\14 \
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\14\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-14301 Filed 8-28-06; 8:45 am]
BILLING CODE 8010-01-P
