Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Use of the Revised Uniform Application for Securities Industry Registration or Transfer (Form U4) and Revised Uniform Termination Notice for Securities Industry Registration (Form U5), 51882-51883 [06-7301]
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51882
Federal Register / Vol. 71, No. 169 / Thursday, August 31, 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–NASD–2006–088 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–NASD–2006–088. The 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 will also
be available for inspection and copying
at the principal office of NASD. 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 SR–NASD–
2006–088 and should be submitted on
or before September 21, 2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.14
Nancy M. Morris,
Secretary.
[FR Doc. E6–14493 Filed 8–30–06; 8:45 am]
erjones on PROD1PC72 with NOTICES
BILLING CODE 8010–01–P
14 17
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
15:29 Aug 30, 2006
Jkt 208001
Release No. 34–54359; File No. SR–NYSE–
2006–53]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to the
Use of the Revised Uniform
Application for Securities Industry
Registration or Transfer (Form U4) and
Revised Uniform Termination Notice
for Securities Industry Registration
(Form U5)
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
SECURITIES AND EXCHANGE
COMMISSION
August 24, 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 4,
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
as a ‘‘non-controversial’’ 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.5
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange submits to the
Commission, for use by the Exchange,
the recently revised Uniform
Application for Securities Industry
Registration or Transfer (Form U4) and
revised Uniform Termination Notice for
Securities Industry Registration (Form
U5).
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
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 Certain additions and technical corrections were
made throughout the discussion of the proposed
rule change pursuant to conversations with NYSE
staff. Telephone conversations between Cory
Figman, Senior Special Counsel, Rule and
Interpretive Standards, NYSE, and Kate Robbins,
Attorney, Division of Market Regulation,
Commission, on August 10, 2006.
PO 00000
Frm 00086
Fmt 4703
Sfmt 4703
1. Purpose
The purpose of this filing is to adopt,
for use by the Exchange, recently
revised Forms U4 and U5 6 (collectively,
the ‘‘Forms’’). These Forms are identical
to those filed with the Commission by
the National Association of Securities
Dealers (‘‘NASD’’) in 2005.7
The revised Forms, which are to be
used by the Exchange as part of its
registration and oversight of persons
associated with member organizations,
have been enhanced to provide more
meaningful and detailed disclosure with
respect to registration-related functions
processed through the Central
Registration Depository (‘‘CRD’’) system.
The CRD is an industry-wide automated
system which allows for the efficient
review and tracking of registered
persons in the securities industry, such
as changes in their work and
disciplinary histories. Further, use of
the revised Forms allows for integration
of Form U4 and Form U5 information
into branch office registration and
reporting functions processed through
the CRD system by linking registered
persons to their designated branch
office.
2. Statutory Basis
The Exchange believes that, insofar as
Forms U4 and U5 and the CRD system
are used by the various self-regulatory
organizations, including the Exchange,
their use is consistent with Section
6(b)(5) of the Act 8 in fostering
cooperation and coordination with
persons engaged in regulating
transactions in securities. Additionally,
the Exchange believes that the
information reported on the Forms will
assist the Exchange in its
6 Form U4 is the ‘‘Uniform Application for
Securities Industry Registration or Transfer’’ and
Form U5 is the ‘‘Uniform Termination Notice for
Securities Industry Registration.’’ Form U4 has
historically been the vehicle for the reporting of
events that may reveal that a person is subject to
a statutory disqualification. See Section 3(a)(39) of
the Act, 15 U.S.C. 78c(a)(39).
7 See Securities Exchange Act Release No. 52544
(September 30, 2005), 70 FR 58764 (October 7,
2005) (SR–NASD–2005–030) and NASD Notice to
Members 05–66.
8 15 U.S.C. 78f(b)(5).
E:\FR\FM\31AUN1.SGM
31AUN1
Federal Register / Vol. 71, No. 169 / Thursday, August 31, 2006 / Notices
responsibilities under Section 6(c) of the
Act 9 in evaluating whether an
individual subject to a statutory
disqualification or who cannot meet
such standards of training, experience,
and competence as are prescribed by the
rules of the Exchange or those who have
engaged in acts or practices inconsistent
with just and equitable principles of
trade should be denied membership.
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 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.
erjones on PROD1PC72 with NOTICES
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 10 and Rule 19b–
4(f)(6) thereunder.11
A proposed rule change filed under
Rule 19b–4(f)(6) normally may not
become operative prior to 30 days after
the date of filing.12 However, Rule 19b–
4(f)(6)(iii) 13 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange provided the Commission
with written notice of its intent to file
this proposed rule change at least five
business days prior to the date of filing
of the proposed rule change. In
addition, the Exchange has requested
that the Commission waive the 30-day
operative delay to allow the Exchange to
utilize the U4 and U5 Forms without
any undue delay. The Commission
believes that waiving the 30-day
operative delay is consistent with the
protection of investors and the public
interest because it would allow the
9 15
U.S.C. 78f(c).
U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(6).
12 Id.
13 17 CFR 240.19b–4(f)(6)(iii).
15:29 Aug 30, 2006
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–NYSE–2006–53 on the
subject line.
SR–NASD–2005–030, supra note.
15 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
Jkt 208001
Room. Copies of such filing also will be
available for inspection and copying at
the principal office of the NYSE. 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–2006–53 and should
be submitted on or before September 21,
2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.16
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 06–7301 Filed 8–30–06; 8:45 am]
BILLING CODE 8010–01–P
DEPARTMENT OF STATE
[Public Notice 5428]
Overseas Buildings Operations;
Industry Advisory Panel: Meeting
Notice
The Industry Advisory Panel of the
Overseas Buildings Operations will
meet on Thursday, September 14, 2006
from 9:30 a.m. until 3:30 p.m. Eastern
Standard Time. The meeting will be
Paper Comments
held at the Department of State, 2201 C
• Send paper comments in triplicate
Street, NW., (entrance on 23rd Street),
to Nancy M. Morris, Secretary,
Room 1105—Washington, DC. The
Securities and Exchange Commission,
majority of the meeting is devoted to an
100 F Street, NE., Washington, DC
exchange of ideas between the
20549–1090.
Department’s Bureau of Overseas
All submissions should refer to File
Buildings Operations’ senior
Number SR–NYSE–2006–53. This file
management and the panel members, on
number should be included on the
design, operations and building
subject line if e-mail is used. To help the
maintenance. Members of the public are
Commission process and review your
asked to kindly refrain from joining the
comments more efficiently, please use
discussion until Director Williams
only one method. The Commission will
opens the discussion to the public.
post all comments on the Commission’s
Please arrive no later than 9 a.m.
Internet Web site (https://www.sec.gov/
(Security check-in desk opens at 8:30
rules/sro.shtml). Copies of the
a.m.)
submission, all subsequent
Register by e-mailing: iapr@state.gov.
amendments, all written statements
Mail to: iapr@state.gov prior to
with respect to the proposed rule
September 6 (only one person per
change that are filed with the
company may register). Your response
Commission, and all written
should include your date of birth and
communications relating to the
social security number, which will be
proposed rule change between the
Commission and any person, other than used by Diplomatic Security to issue a
temporary pass to enter the building. If
those that may be withheld from the
you have any questions, please contact
public in accordance with the
Michael Sprague on 703/875–7173.
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
Charles E. Williams,
the Commission’s Public Reference
Director & Chief Operating Officer, Overseas
14 See
10 15
VerDate Aug<31>2005
Exchange to immediately use the
revised Forms U4 and U5, which are
currently being used by NASD.14 For
this reason, the Commission designates
the proposal to be effective and
operative upon filing with the
Commission.15
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.
51883
PO 00000
Frm 00087
Fmt 4703
Sfmt 4703
Buildings Operations, Department of State.
[FR Doc. 06–7342 Filed 8–30–06; 8:45 am]
BILLING CODE 4710–24–M
16 17
E:\FR\FM\31AUN1.SGM
CFR 200.30–3(a)(12).
31AUN1
]]>Agencies
[Federal Register Volume 71, Number 169 (Thursday, August 31, 2006)]
[Notices]
[Pages 51882-51883]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-7301]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Release No. 34-54359; File No. SR-NYSE-2006-53]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to the Use of the Revised Uniform Application for Securities
Industry Registration or Transfer (Form U4) and Revised Uniform
Termination Notice for Securities Industry Registration (Form U5)
August 24, 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 4, 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 as a ``non-controversial'' 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.\5\
---------------------------------------------------------------------------
\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\ Certain additions and technical corrections were made
throughout the discussion of the proposed rule change pursuant to
conversations with NYSE staff. Telephone conversations between Cory
Figman, Senior Special Counsel, Rule and Interpretive Standards,
NYSE, and Kate Robbins, Attorney, Division of Market Regulation,
Commission, on August 10, 2006.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange submits to the Commission, for use by the Exchange,
the recently revised Uniform Application for Securities Industry
Registration or Transfer (Form U4) and revised Uniform Termination
Notice for Securities Industry Registration (Form U5).
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change 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 purpose of this filing is to adopt, for use by the Exchange,
recently revised Forms U4 and U5 \6\ (collectively, the ``Forms'').
These Forms are identical to those filed with the Commission by the
National Association of Securities Dealers (``NASD'') in 2005.\7\
---------------------------------------------------------------------------
\6\ Form U4 is the ``Uniform Application for Securities Industry
Registration or Transfer'' and Form U5 is the ``Uniform Termination
Notice for Securities Industry Registration.'' Form U4 has
historically been the vehicle for the reporting of events that may
reveal that a person is subject to a statutory disqualification. See
Section 3(a)(39) of the Act, 15 U.S.C. 78c(a)(39).
\7\ See Securities Exchange Act Release No. 52544 (September 30,
2005), 70 FR 58764 (October 7, 2005) (SR-NASD-2005-030) and NASD
Notice to Members 05-66.
---------------------------------------------------------------------------
The revised Forms, which are to be used by the Exchange as part of
its registration and oversight of persons associated with member
organizations, have been enhanced to provide more meaningful and
detailed disclosure with respect to registration-related functions
processed through the Central Registration Depository (``CRD'') system.
The CRD is an industry-wide automated system which allows for the
efficient review and tracking of registered persons in the securities
industry, such as changes in their work and disciplinary histories.
Further, use of the revised Forms allows for integration of Form U4 and
Form U5 information into branch office registration and reporting
functions processed through the CRD system by linking registered
persons to their designated branch office.
2. Statutory Basis
The Exchange believes that, insofar as Forms U4 and U5 and the CRD
system are used by the various self-regulatory organizations, including
the Exchange, their use is consistent with Section 6(b)(5) of the Act
\8\ in fostering cooperation and coordination with persons engaged in
regulating transactions in securities. Additionally, the Exchange
believes that the information reported on the Forms will assist the
Exchange in its
[[Page 51883]]
responsibilities under Section 6(c) of the Act \9\ in evaluating
whether an individual subject to a statutory disqualification or who
cannot meet such standards of training, experience, and competence as
are prescribed by the rules of the Exchange or those who have engaged
in acts or practices inconsistent with just and equitable principles of
trade should be denied membership.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b)(5).
\9\ 15 U.S.C. 78f(c).
---------------------------------------------------------------------------
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 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.
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 \10\ and Rule 19b-
4(f)(6) thereunder.\11\
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) normally may
not become operative prior to 30 days after the date of filing.\12\
However, Rule 19b-4(f)(6)(iii) \13\ permits the Commission to designate
a shorter time if such action is consistent with the protection of
investors and the public interest. The Exchange provided the Commission
with written notice of its intent to file this proposed rule change at
least five business days prior to the date of filing of the proposed
rule change. In addition, the Exchange has requested that the
Commission waive the 30-day operative delay to allow the Exchange to
utilize the U4 and U5 Forms without any undue delay. The Commission
believes that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest because it would allow
the Exchange to immediately use the revised Forms U4 and U5, which are
currently being used by NASD.\14\ For this reason, the Commission
designates the proposal to be effective and operative upon filing with
the Commission.\15\
---------------------------------------------------------------------------
\12\ Id.
\13\ 17 CFR 240.19b-4(f)(6)(iii).
\14\ See SR-NASD-2005-030, supra note.
\15\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------
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
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-2006-53 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-2006-53. 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 NYSE. 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-2006-53 and should be submitted on or before
September 21, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\16\
---------------------------------------------------------------------------
\16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 06-7301 Filed 8-30-06; 8:45 am]
BILLING CODE 8010-01-P
