Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Extension of the Pilot Period Applicable to the Listing and Trading of Options on the iShares MSCI Emerging Markets Index, 59561-59562 [E6-16630]
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Federal Register / Vol. 71, No. 195 / Tuesday, October 10, 2006 / Notices
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–Amex–2005–104. 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–Amex–2005–104 and
should be submitted on or before
October 31, 2006.
V. Conclusion
jlentini on PROD1PC65 with NOTICES
For the foregoing reasons, the
Commission finds that the proposed
rule change, as amended, is consistent
with the Act and the rules and
regulations thereunder applicable to a
national securities exchange, and in
particular with Sections 6(b)(5) and
6(b)(8) of the Act.160
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,161 that the
proposed rule change (SR–Amex–2005–
105), as amended by Amendments No.
1, 2, 3, 4, and 5, be, and it hereby is,
approved, and that Amendment No. 6 is
approved on an accelerated basis.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.162
Nancy M. Morris,
Secretary.
[FR Doc. E6–16628 Filed 10–6–06; 8:45 am]
BILLING CODE 8011–01–P
160 U.S.C.
78f(b)(5) and 78f(b)(8).
U.S.C. 78s(b)(2).
162 17 CFR 200.30–3(a)(12).
161 15
VerDate Aug<31>2005
16:42 Oct 06, 2006
Jkt 211001
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54553; File No. SR–Amex–
2006–91]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of a Proposed Rule Change Relating to
the Extension of the Pilot Period
Applicable to the Listing and Trading
of Options on the iShares MSCI
Emerging Markets Index
September 29, 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
September 28, 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 Exchange. The
Amex has filed the proposed rule
change, pursuant to Section
19(b)(3)(A)(iii) 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 Exchange proposes to extend the
pilot period applicable to the listing and
trading of options on the iShares MSCI
Emerging Markets Index Fund (‘‘Fund
Options’’). The Amex is not proposing
any changes to the rule text. The text of
the proposed rule change is available on
the Amex’s Web site at https://
www.amex.com, the Office of the
Secretary, Amex 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,
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
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
5 The Exchange requested the Commission to
waive the five-day pre-filing notice requirement and
the 30-day operative delay, as specified in Rule
19b(f)(6)(iii). 17 CFR 240.19b–4(f)(6)(iii).
2 17
PO 00000
Frm 00136
Fmt 4703
Sfmt 4703
59561
may be examined at the places specified
in Item IV below. The Amex 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 17, 2006, the Commission
approved the Amex’s proposal to list
and trade the Fund Options.6 On June
30, 2006 the Commission approved a
90-day extension to the Pilot that is due
to expire October 1, 2006.7 The Fund
Options will continue to meet
substantially all of the listing and
maintenance standards in Commentary
.06 to Amex Rule 915 and Commentary
.07 to Amex Rule 916. For the
requirements that are not satisfied, the
Exchange continues to represent that
sufficient mechanisms exist that would
provide the Exchange with adequate
surveillance and regulatory information
with respect to the Fund Options.
Continuation of the Pilot would permit
the Exchange to continue to work with
the Bolsa Mexicana de Valores (‘‘Bolsa’’)
to develop a surveillance sharing
agreement.
Accordingly, the Exchange proposes
to extend the Pilot for an additional
ninety days, until December 30, 2006.8
2. Statutory Basis
The Amex believes the proposed rule
change is consistent with Section 6(b) of
the Act 9 in general, and furthers the
objectives of Section 6(b)(5) of the Act,10
in particular, in that it is designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, to foster
cooperation and coordination with
persons engaged in regulating, clearing,
settling, processing information with
respect to, and facilitating transactions
in securities, 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,
6 See Securities Exchange Act Release No. 53824
(May 17, 2006), 71 FR 30003 (May 24, 2006) (SR–
Amex–2006–43).
7 See Securities Exchange Act Release No. 54081
(June 30, 2006), 71 FR 38911 (July 10, 2006) (SR–
Amex–2006–60).
8 Given that December 30, 2006 is a Saturday, the
Commission notes that the Pilot will in effect be
extended until January 2, 2007, the first business
day after December 30, 2006.
9 15 U.S.C. 78f(b).
10 15 U.S.C. 78f(b)(5).
E:\FR\FM\10OCN1.SGM
10OCN1
59562
Federal Register / Vol. 71, No. 195 / Tuesday, October 10, 2006 / Notices
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 Amex.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Amex 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
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
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 11 and Rule 19b–4(f)(6) 12
thereunder because the proposed rule
change: (i) Does not significantly affect
the protection of investors or the public
interest; (ii) does not impose any
significant burden on competition; and
(iii) does not become operative for 30
days from the date of the 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)(iii) of the Act 13 and Rule
19b–4(f)(6) thereunder.14
Amex has requested that the
Commission waive both the five-day
pre-filing requirement and the 30-day
delayed 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 30-day 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
October 1, 2006, and allow the Amex to
continue in its efforts to obtain a
surveillance agreement with Bolsa. The
Commission notes that another selfregulatory organization recently adopted
a substantially similar rule change that
was effective upon filing.16
jlentini on PROD1PC65 with NOTICES
11 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
13 15 U.S.C. 78s(b)(3)(A)(iii).
14 17 CFR 240.19b–4(f)(6).
15 17 CFR 240.19b–4(f)(6)(iii).
16 See Securities Exchange Act Release No. 54347
(August 22, 2006), 71 FR 51242 (August 29, 2006)
(SR–CBOE–2006–72).
Accordingly, the Commission
designates the proposal to be effective
and operative upon filing with the
Commission.17
At any time within sixty (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.18
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–Amex–2006–91 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–Amex–2006–91. 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
12 17
VerDate Aug<31>2005
16:42 Oct 06, 2006
Jkt 211001
17 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. 15 U.S.C. 78c(f).
18 See Section 19(b)(3)(C) of the Act, 15 U.S.C.
78s(b)(3)(C).
PO 00000
Frm 00137
Fmt 4703
Sfmt 4703
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–2006–91 and should
be submitted on or before October 31,
2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.19
Nancy M. Morris,
Secretary.
[FR Doc. E6–16630 Filed 10–6–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54556; File No. SR–BSE–
2005–09]
Self-Regulatory Organizations; Boston
Stock Exchange, Inc.; Order Approving
Proposed Rule Change and
Amendment Nos. 1 and 2 Thereto
Relating to Its Minor Rule Violation
Plan
October 2, 2006.
On February 7, 2005, the Boston Stock
Exchange, Inc. (‘‘BSE’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to amend BSE Rule Chapter XXX
(‘‘Disciplining of Members—Denial of
Membership’’) and BSE Rule Chapter
XXXIV (‘‘Minor Rule Violations’’). The
Exchange filed Amendment No. 1 to the
proposed rule change on July 7, 2006,
and Amendment No. 2 on August 18,
2006. The proposed rule change, as
amended, was published for comment
in the Federal Register on September 1,
2006.3 The Commission received no
comments regarding the proposal.
BSE proposed to make the following
changes:
• Add ‘‘Principal Considerations in
Determining Sanctions’’ to BSE Rule
Chapter XXX;
• Move Acceptance Waiver and
Consent Procedures (‘‘AWC’’) from BSE
Rule Chapter XXXIV to BSE Rule
Chapter XXX;
19 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 54374
(August 28, 2006), 71 FR 52183.
1 15
E:\FR\FM\10OCN1.SGM
10OCN1
]]>Agencies
[Federal Register Volume 71, Number 195 (Tuesday, October 10, 2006)]
[Notices]
[Pages 59561-59562]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-16630]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-54553; File No. SR-Amex-2006-91]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
Relating to the Extension of the Pilot Period Applicable to the Listing
and Trading of Options on the iShares MSCI Emerging Markets Index
September 29, 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 September 28, 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 Exchange. The Amex has
filed the proposed rule change, pursuant to Section 19(b)(3)(A)(iii) 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)(iii).
\4\ 17 CFR 240.19b-4(f)(6).
\5\ The Exchange requested the Commission to waive the five-day
pre-filing notice requirement and the 30-day operative delay, as
specified in Rule 19b(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 Exchange proposes to extend the pilot period applicable to the
listing and trading of options on the iShares MSCI Emerging Markets
Index Fund (``Fund Options''). The Amex is not proposing any changes to
the rule text. The text of the proposed rule change is available on the
Amex's Web site at https://www.amex.com, the Office of the Secretary,
Amex 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, 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 Amex 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 17, 2006, the Commission approved the Amex's proposal to
list and trade the Fund Options.\6\ On June 30, 2006 the Commission
approved a 90-day extension to the Pilot that is due to expire October
1, 2006.\7\ The Fund Options will continue to meet substantially all of
the listing and maintenance standards in Commentary .06 to Amex Rule
915 and Commentary .07 to Amex Rule 916. For the requirements that are
not satisfied, the Exchange continues to represent that sufficient
mechanisms exist that would provide the Exchange with adequate
surveillance and regulatory information with respect to the Fund
Options. Continuation of the Pilot would permit the Exchange to
continue to work with the Bolsa Mexicana de Valores (``Bolsa'') to
develop a surveillance sharing agreement.
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 53824 (May 17,
2006), 71 FR 30003 (May 24, 2006) (SR-Amex-2006-43).
\7\ See Securities Exchange Act Release No. 54081 (June 30,
2006), 71 FR 38911 (July 10, 2006) (SR-Amex-2006-60).
---------------------------------------------------------------------------
Accordingly, the Exchange proposes to extend the Pilot for an
additional ninety days, until December 30, 2006.\8\
---------------------------------------------------------------------------
\8\ Given that December 30, 2006 is a Saturday, the Commission
notes that the Pilot will in effect be extended until January 2,
2007, the first business day after December 30, 2006.
---------------------------------------------------------------------------
2. Statutory Basis
The Amex believes the proposed rule change is consistent with
Section 6(b) of the Act \9\ in general, and furthers the objectives of
Section 6(b)(5) of the Act,\10\ in particular, in that it is designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, 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,
[[Page 59562]]
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 Amex.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f(b).
\10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
Amex 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
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
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \11\ and Rule 19b-4(f)(6) \12\ thereunder
because the proposed rule change: (i) Does not significantly affect the
protection of investors or the public interest; (ii) does not impose
any significant burden on competition; and (iii) does not become
operative for 30 days from the date of the 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)(iii)
of the Act \13\ and Rule 19b-4(f)(6) thereunder.\14\
---------------------------------------------------------------------------
\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)(iii).
\14\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
Amex has requested that the Commission waive both the five-day pre-
filing requirement and the 30-day delayed 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 30-day 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 October
1, 2006, and allow the Amex to continue in its efforts to obtain a
surveillance agreement with Bolsa. The Commission notes that another
self-regulatory organization recently adopted a substantially similar
rule change that was effective upon filing.\16\ Accordingly, the
Commission designates the proposal to be effective and operative upon
filing with the Commission.\17\
---------------------------------------------------------------------------
\15\ 17 CFR 240.19b-4(f)(6)(iii).
\16\ See Securities Exchange Act Release No. 54347 (August 22,
2006), 71 FR 51242 (August 29, 2006) (SR-CBOE-2006-72).
\17\ 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. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------
At any time within sixty (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.\18\
---------------------------------------------------------------------------
\18\ See Section 19(b)(3)(C) of the Act, 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------
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-Amex-2006-91 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-Amex-2006-91. 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 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-2006-91 and should be
submitted on or before October 31, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\19\
---------------------------------------------------------------------------
\19\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Nancy M. Morris,
Secretary.
[FR Doc. E6-16630 Filed 10-6-06; 8:45 am]
BILLING CODE 8010-01-P
