Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to a Name Change of a Board Committee and of a Securities Market, 54107-54108 [E6-15189]

Download as PDF Federal Register / Vol. 71, No. 177 / Wednesday, September 13, 2006 / Notices trade, and, in general, to protect investors and the public interest. The Commission believes that the proposed rule change is consistent with the provision of the Act noted above because it will help investors understand procedures for preserving their rights in the event of erroneous or unauthorized transactions in their accounts. While the Commission believes that the proposal would improve NASD’s current customer account disclosure requirements, we believe that the disclosure would be more beneficial to investors if it required NASD members to include on account statements both introducing and clearing firm contact information sufficient to allow investors to timely report unauthorized transactions or other account discrepancies to both firms (if the firms are different). We believe such disclosure would be consistent with current Commission guidance on this issue.24 We also believe that such disclosure would address the concerns of some commenters that the current proposal could be enhanced to ensure that a customer’s concern is delivered to the most appropriate person at the firm.25 The Commission therefore encourages NASD to issue a Notice to Members regarding the proposed change to Rule 2340 that reminds member firms of their current obligations with respect to customer account statements.26 hsrobinson on PROD1PC61 with NOTICES IV. Conclusion It is therefore ordered, pursuant to section 19(b)(2) of the Act 27 that the proposed rule change (SR–NASD–2004– 171), as amended, be, and hereby is, approved,28 effective 180 days from the date of this order. NASD has committed to announce the effective date of the 24 See Securities Exchange Act Release No. 31511 (Nov. 24, 1992), 57 FR 56973 (Dec. 2, 1992) (amending the SEC’s net capital rule and explaining the staff’s interpretation that to avoid more stringent capital requirements under the rule, an introducing firm must have in place a clearing agreement with a registered broker-dealer that, among other things, contains ‘‘the name and telephone number of a responsible individual at the clearing firm whom a customer can contact with inquiries regarding the customer’s account.’’). See also NYSE Interpretation Handbook at 4105 (carrying organization phone number may appear on the back of the customer account statement, but, if so, it must be in ‘‘bold’’ or ‘‘highlighted’’ text). 25 See footnote 14, supra. 26 See footnote 24, supra. 27 15 U.S.C. 78s(b)(2). 28 In approving this proposed rule change, the Commission notes that it has considered the proposed rule change’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). In particular, the Commission considered and granted NASD’s request to delay effectiveness of the proposal by 180 days to allow NASD member firms sufficient time to implement the change required by the proposal. VerDate Aug<31>2005 16:19 Sep 12, 2006 Jkt 208001 proposed rule change in a Notice to Members to be published no later than 30 days following approval of the proposal. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.29 Jill M. Peterson, Assistant Secretary. [FR Doc. E6–15186 Filed 9–12–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54409; File No. SR–OCC– 2006–13] Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to a Name Change of a Board Committee and of a Securities Market September 6, 2006. Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on July 17, 2006, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which items have been prepared primarily by OCC. OCC filed the proposed rule change pursuant to section 19(b)(3)(A) of the Act 2 whereby the proposal was effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change reflects the renaming of OCC’s Membership/Margin Committee to the Membership/Risk Committee and of Nasdaq National Market to the Nasdaq Global Market. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, OCC included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. OCC has prepared 29 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78s(b)(3)(A)(ii). PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 54107 summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of such statements.3 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change The purpose of the proposed rule change is to reflect that OCC has renamed the Membership/Margin Committee to the Membership/Risk Committee and that Nasdaq has renamed the Nasdaq National Market to the Nasdaq Global Market. OCC believes that the proposed rule change is consistent with the purposes and requirements of section 17A of the Act because it reflects the appropriate titles of an OCC Board committee and a securities marketplace. The rule change is not inconsistent with the existing bylaws and rules of OCC, including those proposed to be amended. (B) Self-Regulatory Organization’s Statement on Burden on Competition OCC does not believe that the proposed rule change would impose any burden on competition. (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were not and are not intended to be solicited with respect to the proposed rule change, and none have been received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to section 19(b)(3)(A)(iii) of the Act 4 and Rule 19b–4(f)(4) 5 promulgated thereunder because the proposal effects a change in an existing service of OCC that (A) does not adversely affect the safeguarding of securities or funds in the custody or control of OCC or for which it is responsible and (B) does not significantly affect the respective rights or obligations of OCC or persons using the service. At any time within sixty 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. 3 The Commission has modified parts of these statements. 4 15 U.S.C. 78s(b)(3)(A)(iii). 5 17 CFR 240.19b–4(f)(4). E:\FR\FM\13SEN1.SGM 13SEN1 54108 Federal Register / Vol. 71, No. 177 / Wednesday, September 13, 2006 / Notices 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: For the Commission by the Division of Market Regulation, pursuant to delegated authority.6 J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–15189 Filed 9–12–06; 8:45 am] BILLING CODE 8010–01–P SMALL BUSINESS ADMINISTRATION • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml) or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–OCC–2006–13 on the subject line. hsrobinson on PROD1PC61 with NOTICES Electronic Comments [Disaster Declaration #10525 and #10526] New Jersey Disaster Number NJ–00004 U.S. Small Business Administration. ACTION: Amendment 2. AGENCY: SUMMARY: This is an amendment of the Presidential declaration of a major Paper Comments disaster for the State of New Jersey (FEMA–1653–DR), dated 07/07/2006. • Send paper comments in triplicate Incident: Severe Storms and Flooding. to Nancy M. Morris, Secretary, Incident period: 06/23/2006 through Securities and Exchange Commission, 07/10/2006. 100 F Street, NE., Washington, DC Effective Date: 09/06/2006. 20549–1090. Physical Loan Application Deadline Date: 09/11/2006. All submissions should refer to File EIDL Loan Application Deadline Date: Number SR–OCC–2006–13. This file 04/09/2007. number should be included on the subject line if e-mail is used. To help the ADDRESSES: Submit completed loan applications to: U.S. Small Business Commission process and review your Administration, National Processing comments more efficiently, please use only one method. The Commission will And Disbursement Center, 14925 post all comments on the Commission’s Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Internet Web site (https://www.sec.gov/ Escobar, Office of Disaster Assistance, rules/sro.shtml). Copies of the U.S. Small Business Administration, submission, all subsequent 409 3rd Street, Suite 6050, Washington, amendments, all written statements DC 20416. with respect to the proposed rule change that are filed with the SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster Commission, and all written declaration for the State of New Jersey, communications relating to the dated 07/07/2006, is hereby amended to proposed rule change between the Commission and any person, other than extend the deadline for filing applications for physical damages as a those that may be withheld from the result of this disaster to 09/11/2006. public in accordance with the All other information in the original provisions of 5 U.S.C. 552, will be declaration remains unchanged. available for inspection and copying in the Commission’s Public Reference (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Section, 100 F Street, NE., Washington, DC 20549. Copies of such filing also will Cheri L. Cannon, be available for inspection and copying Acting Associate Administrator for Disaster at the principal office of OCC and on Assistance. OCC’s Web site at https:// [FR Doc. E6–15211 Filed 9–12–06; 8:45 am] www.optionsclearing.com. All BILLING CODE 8025–01–P comments received will be posted without change; the Commission does not edit personal identifying DEPARTMENT OF STATE information from submissions. You [Public Notice 5544] should submit only information that you wish to make available publicly. All Bureau of Political-Military Affairs: submissions should refer to File Directorate of Defense Trade Controls; Number SR–OCC–2006–13 and should Notifications to the Congress of be submitted on or before October 4, Proposed Commercial Export Licenses 2006. SUMMARY: Notice is hereby given that 6 17 CFR 200.30–3(a)(12). the Department of State has forwarded VerDate Aug<31>2005 16:19 Sep 12, 2006 Jkt 208001 PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 the attached Notifications of Proposed Export Licenses to the Congress on the dates indicated pursuant to sections 36(c) and 36(d) and in compliance with section 36(f) of the Arms Export Control Act (22 U.S.C. 2776). DATES: Effective Date: As shown on each of the 28 letters. FOR FURTHER INFORMATION CONTACT: Ms. Susan M. Clark, Acting Director, Office of Defense Trade Controls Licensing, Directorate of Defense Trade Controls, Bureau of Political-Military Affairs, Department of State (202) 663–2023. SUPPLEMENTARY INFORMATION: Section 36(f) of the Arms Export Control Act mandates that notifications to the Congress pursuant to sections 36(c) and 36(d) must be published in the Federal Register when they are transmitted to Congress or as soon thereafter as practicable. April 3, 2006. Hon. J. Dennis Hastert, Speaker of the House of Representatives. Dear Mr. Speaker: Pursuant to Section 36(d) of the Arms Export Control Act, I am transmitting, herewith, certification of a proposed retransfer of defense articles or services involving major defense equipment (MDE) in amount of $14,000,000 or more. The transaction contained in the attached certification involves the retransfer of four hundred thirty-one (431) YPR–765 vehicles and 555 TOW 71E1B missiles to Egypt from the Royal Netherlands Army (RNLA). The United States Government is prepared to license the export of this item having taken into account political, military, economic, human rights and arms control considerations. More detailed information is contained in the formal certification which, though unclassified, contains business information submitted to the Department of State by the applicant, publication of which could cause competitive harm to the United States firm concerned. Sincerely, Jeffrey T. Bergner, Assistant Secretary Legislative Affairs. Enclosure: Transmittal No. DDTC 058–05. April 4, 2006. Hon. J. Dennis Hastert, Speaker of the House of Representatives. Dear Mr. Speaker: Pursuant to Section 36(c) and (d) of the Arms Export Control Act, I am transmitting, herewith, certification of a proposed manufacturing license agreement involving the manufacture of significant military equipment and the export of defense articles or defense services sold commercially under a contract in the amount of $50,000,000 or more. The transaction contained in the attached certification involves the manufacture in the United States of the Russian RD–180 twochamber rocket motors for use on Atlas launch vehicles, including the USAF Evolved Expandable Launch Vehicle. E:\FR\FM\13SEN1.SGM 13SEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 71, Number 177 (Wednesday, September 13, 2006)]
[Notices]
[Pages 54107-54108]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-15189]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54409; File No. SR-OCC-2006-13]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
Relating to a Name Change of a Board Committee and of a Securities 
Market

September 6, 2006.
    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on July 17, 2006, The Options 
Clearing Corporation (``OCC'') filed with the Securities and Exchange 
Commission (``Commission'') the proposed rule change as described in 
Items I, II, and III below, which items have been prepared primarily by 
OCC. OCC filed the proposed rule change pursuant to section 19(b)(3)(A) 
of the Act \2\ whereby the proposal was effective upon filing with the 
Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The proposed rule change reflects the renaming of OCC's Membership/
Margin Committee to the Membership/Risk Committee and of Nasdaq 
National Market to the Nasdaq Global Market.

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

    In its filing with the Commission, OCC included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. OCC has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of such 
statements.\3\
---------------------------------------------------------------------------

    \3\ The Commission has modified parts of these statements.
---------------------------------------------------------------------------

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

    The purpose of the proposed rule change is to reflect that OCC has 
renamed the Membership/Margin Committee to the Membership/Risk 
Committee and that Nasdaq has renamed the Nasdaq National Market to the 
Nasdaq Global Market.
    OCC believes that the proposed rule change is consistent with the 
purposes and requirements of section 17A of the Act because it reflects 
the appropriate titles of an OCC Board committee and a securities 
marketplace. The rule change is not inconsistent with the existing by-
laws and rules of OCC, including those proposed to be amended.

(B) Self-Regulatory Organization's Statement on Burden on Competition

    OCC does not believe that the proposed rule change would impose any 
burden on competition.

(C) Self-Regulatory Organization's Statement on Comments on the 
Proposed Rule Change Received From Members, Participants, or Others

    Written comments were not and are not intended to be solicited with 
respect to the proposed rule change, and none have been received.

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

    The foregoing rule change has become effective pursuant to section 
19(b)(3)(A)(iii) of the Act \4\ and Rule 19b-4(f)(4) \5\ promulgated 
thereunder because the proposal effects a change in an existing service 
of OCC that (A) does not adversely affect the safeguarding of 
securities or funds in the custody or control of OCC or for which it is 
responsible and (B) does not significantly affect the respective rights 
or obligations of OCC or persons using the service. At any time within 
sixty 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.
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    \4\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \5\ 17 CFR 240.19b-4(f)(4).

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[[Page 54108]]

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml) or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-OCC-2006-13 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.
    All submissions should refer to File Number SR-OCC-2006-13. This 
file number should be included on the subject line if e-mail is used. 
To help the Commission process and review your comments more 
efficiently, please use only one method. The Commission will post all 
comments on the Commission's Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments, 
all written statements with respect to the proposed rule change that 
are filed with the Commission, and all written communications relating 
to the proposed rule change between the Commission and any person, 
other than those that may be withheld from the public in accordance 
with the provisions of 5 U.S.C. 552, will be available for inspection 
and copying in the Commission's Public Reference Section, 100 F Street, 
NE., Washington, DC 20549. Copies of such filing also will be available 
for inspection and copying at the principal office of OCC and on OCC's 
Web site at https://www.optionsclearing.com. All comments received will 
be posted without change; the Commission does not edit personal 
identifying information from submissions. You should submit only 
information that you wish to make available publicly. All submissions 
should refer to File Number SR-OCC-2006-13 and should be submitted on 
or before October 4, 2006.
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    \6\ 17 CFR 200.30-3(a)(12).

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\6\
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-15189 Filed 9-12-06; 8:45 am]
BILLING CODE 8010-01-P

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