Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto To Adopt an Appeal Fee, 2078-2079 [E7-479]
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2078
Federal Register / Vol. 72, No. 10 / Wednesday, January 17, 2007 / Notices
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
Numbers SR–NYSE–2006–78 and/or
SR–NASD–2006–113. The file numbers
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
changes that are filed with the
Commission, and all written
communications relating to the
proposed rule changes 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 filings also will be
available for inspection and copying at
the principal office of the NYSE and
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 File
Numbers SR–NYSE–2006–78 and/or
SR–NASD–2006–113 and should be
submitted on or before March 5, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.39
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–548 Filed 1–16–07; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55071; File No. SR–Phlx–
2006–84]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change and Amendment No. 1 Thereto
To Adopt an Appeal Fee
January 9, 2007.
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 December
8, 2006, the Philadelphia Stock
Exchange, Inc. (‘‘Phlx’’ or ‘‘Exchange’’)
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 substantially prepared by the
Exchange. On December 20, 2006, the
Exchange filed Amendment No. 1 to the
proposed rule change.3 The Exchange
has designated this proposal as one
establishing or changing a due, fee, or
other charge imposed by a selfregulatory organization pursuant to
Section 19(b)(3)(A)(ii) of the Act 4 and
Rule 19b–4(f)(2) thereunder,5 which
renders the proposal effective upon
filing with the Commission. The
Commission is publishing this notice to
solicit comments on the proposed rule
change, as modified by Amendment No.
1, from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to adopt a
$250.00 appeal fee for Appeals to the
Board of Governors from decisions of
Standing Committees 6 (‘‘Appeal Fee’’).
An appeal from a decision of the
Business Conduct Committee, the
Hearing Officer, or a Hearing Panel,
pursuant to Exchange Rule 960.9 and
By-Law Article XI, Section 11–3, as well
as an appeal from a decision of the
Nominating, Elections and Governance
Committee, pursuant to By-Law Article
XI, Section 11–1, will not be subject to
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 In Amendment No. 1, the Exchange modified
the scope of its proposal to exempt appeals of
decisions of the Nominating, Elections and
Governance Committee from the proposed fee.
Amendment No. 1 replaced the original filing in its
entirety.
4 15 U.S.C. 78s(b)(3)(A)(ii).
5 17 CFR 240.19b–4(f)(2).
6 See Exchange By-Law Article X, Section 10–1
for the list of Standing Committees of the Exchange.
mstockstill on PROD1PC61 with NOTICES
2 17
39 17
CFR 200.30–3(a)(12).
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13:58 Jan 16, 2007
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the Appeal Fee.7 The Appeal Fee, which
will be paid by appellant at the time of
filing an appeal, will be refunded to the
appellant in the event the Board of
Governors overturns the decision of the
Standing Committee.
This fee became effective January 1,
2007. The text of the proposed rule
change is available at the Commission’s
Public Reference Room, the Exchange’s
Web site at https://www.phlx.com/
exchange/rulefilings/2006/SR–2006–
84.pdf, and at the Exchange.
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 Exchange represents that the
purpose of the proposed rule change is
to reduce the number of frivolous
appeals by assessing a fee for all appeals
that are upheld. Currently, three
Governors hear appeals from decisions
of Standing Committees, with the
exception of an appeal from the
Nominating, Elections and Governance
Committee, which is heard by a majority
of Governors who are not then
candidates for office. The appeal may
require several hours of time from each
Governor. The Exchange believes that
the appeal process is subject to abuse by
members, participants, member
organizations and participant
organizations who incur no downside to
filing repeated appeals, whether valid or
otherwise. The Exchange believes that,
currently, the ease with which an
appeal can be filed and receive a
‘‘second look’’ at no cost creates a
potential for abuse. This fee will become
effective January 1, 2007.
An appeal from a decision of the
Business Conduct Committee, the
Hearing Officer or a Hearing Panel,
7 Telephone conversation between Leah Mesfin,
Special Counsel, Division of Market Regulation,
Commission, and Angela Dunn, Director and
Counsel, Phlx, on December 21, 2006.
E:\FR\FM\17JAN1.SGM
17JAN1
Federal Register / Vol. 72, No. 10 / Wednesday, January 17, 2007 / Notices
pursuant to Exchange Rule 960.9 and
By-Law Article XI, Section 11–3, and an
appeal from a decision of the
Nominating, Elections and Governance
Committee, pursuant to By-Law Article
XI, Section 11–1, will not be subject to
the Appeal Fee. The Appeal Fee, which
will be paid by appellant at the time of
filing an appeal, will be refunded to the
appellant in the event the Board of
Governors overturns the decision of the
Standing Committee.
2. Statutory Basis
The Exchange believes that its
proposal to amend its schedule of fees
is consistent with Section 6(b) of the
Act 8 in general, and furthers the
objectives of Section 6(b)(5) 9 in
particular in that it is designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principals of trade, to foster
cooperation and coordination with
persons engaged in facilitating
transactions in securities, and to remove
the impediments to and perfect the
mechanism of a free and open market
and a national market system. Finally,
the proposed rule change furthers the
objectives of Section 6(b)(4) of the Act 10
in particular, in that it is an equitable
allocation of reasonable fees and other
charges among Exchange members.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Phlx 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.
mstockstill on PROD1PC61 with NOTICES
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.
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)(ii) of the Act 11 and
subparagraph (f)(2) of Rule 19b–4
thereunder 12 because it establishes or
changes a due, fee, or other charge. 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
8 15
U.S.C. 78f(b).
U.S.C. 78(f)(b)(5).
10 15 U.S.C. 78f(b)(4).
11 15 U.S.C. 78s(b)(3)(A)(ii).
12 17 CFR 240.19b–4(f)(2).
9 15
VerDate Aug<31>2005
13:58 Jan 16, 2007
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.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, as amended, 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–Phlx–2006–84 on the
subject line.
be submitted on or before February 7,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.14
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–479 Filed 1–16–07; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public
Comments and Recommendations
Notice and request for
comments.
ACTION:
SUMMARY: In accordance with the
Paperwork Reduction Act of 1995, this
notice announces the Small Business
Administration’s intentions to request
Paper Comments
approval on a new and/or currently
• Send paper comments in triplicate
approved information collection.
to Nancy M. Morris, Secretary,
DATES: Submit comments on or before
Securities and Exchange Commission,
March 19, 2007.
100 F Street, NE., Washington, DC
20549–1090.
ADDRESSES: Send all comments
regarding whether these information
All submissions should refer to File
collections are necessary for the proper
Number SR–Phlx–2006–84. This file
performance of the function of the
number should be included on the
subject line if e-mail is used. To help the agency, whether the burden estimates
are accurate, and if there are ways to
Commission process and review your
minimize the estimated burden and
comments more efficiently, please use
only one method. The Commission will enhance the quality of the collections, to
post all comments on the Commission’s Cynthia Pitts, Administrative Officer,
Office of Disaster Assistance, Small
Internet Web site (https://www.sec.gov/
Business Administration, 409 3rd Street
rules/sro.shtml). Copies of the
SW., 6th Floor, Washington, DC 20416.
submission, all subsequent
amendments, all written statements
FOR FURTHER INFORMATION CONTACT:
with respect to the proposed rule
Cynthia Pitts, Administrative Officer,
change that are filed with the
Office of Disaster Assistance 202–205–
Commission, and all written
7570, cynthia.pitts#@sba.gov. Curtis B.
communications relating to the
Rich, Management Analyst, 202–205–
proposed rule change between the
7030, curtis.rich@sba.gov.
Commission and any person, other than SUPPLEMENTARY INFORMATION:
those that may be withheld from the
Title: ‘‘Disaster Business Loan
public in accordance with the
Application’’
provisions of 5 U.S.C. 552, will be
Description of Respondents:
available for inspection and copying in
Personnel that assist in the processing of
the Commission’s Public Reference
loan applications and disbursement of
Room. Copies of such filing also will be loan funds to victims of Hurricanes
available for inspection and copying at
Katrina, Rita and Wilma.
the principal office of the Exchange. All
Form No: 5,1368.
comments received will be posted
Annual Responses: 12,742.
without change; the Commission does
Annual Burden: 29,754.
not edit personal identifying
Title: ‘‘Alternative Creditworthiness
information from submissions. You
Assessment’’
should submit only information that
Description of Respondents:
you wish to make available publicly. All Personnel that assist in the processing of
submissions should refer to File
loan applications and disbursement of
Number SR–Phlx–2006–84 and should
loan funds to victims of Hurricanes
Katrina, Rita and Wilma.
13 For purposes of calculating the 60-day period
Form No.: 2294.
within which the Commission may summarily
Annual Responses: 1,849.
abrogate the proposed rule change the Commission
Annual Burden: 8.
considers the period to commence on December 20,
2006, the date on which the Exchange filed
Amendment No. 1. See 15 U.S.C. 78s(b)(3)(C).
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14 17
E:\FR\FM\17JAN1.SGM
CFR 200.30–3(a)(12).
17JAN1
]]>Agencies
[Federal Register Volume 72, Number 10 (Wednesday, January 17, 2007)]
[Notices]
[Pages 2078-2079]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-479]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55071; File No. SR-Phlx-2006-84]
Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
and Amendment No. 1 Thereto To Adopt an Appeal Fee
January 9, 2007.
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 December 8, 2006, the Philadelphia Stock Exchange, Inc. (``Phlx'' or
``Exchange'') 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 substantially prepared by the
Exchange. On December 20, 2006, the Exchange filed Amendment No. 1 to
the proposed rule change.\3\ The Exchange has designated this proposal
as one establishing or changing a due, fee, or other charge imposed by
a self-regulatory organization pursuant to Section 19(b)(3)(A)(ii) of
the Act \4\ and Rule 19b-4(f)(2) thereunder,\5\ which renders the
proposal effective upon filing with the Commission. The Commission is
publishing this notice to solicit comments on the proposed rule change,
as modified by Amendment No. 1, from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ In Amendment No. 1, the Exchange modified the scope of its
proposal to exempt appeals of decisions of the Nominating, Elections
and Governance Committee from the proposed fee. Amendment No. 1
replaced the original filing in its entirety.
\4\ 15 U.S.C. 78s(b)(3)(A)(ii).
\5\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to adopt a $250.00 appeal fee for Appeals to
the Board of Governors from decisions of Standing Committees \6\
(``Appeal Fee''). An appeal from a decision of the Business Conduct
Committee, the Hearing Officer, or a Hearing Panel, pursuant to
Exchange Rule 960.9 and By-Law Article XI, Section 11-3, as well as an
appeal from a decision of the Nominating, Elections and Governance
Committee, pursuant to By-Law Article XI, Section 11-1, will not be
subject to the Appeal Fee.\7\ The Appeal Fee, which will be paid by
appellant at the time of filing an appeal, will be refunded to the
appellant in the event the Board of Governors overturns the decision of
the Standing Committee.
---------------------------------------------------------------------------
\6\ See Exchange By-Law Article X, Section 10-1 for the list of
Standing Committees of the Exchange.
\7\ Telephone conversation between Leah Mesfin, Special Counsel,
Division of Market Regulation, Commission, and Angela Dunn, Director
and Counsel, Phlx, on December 21, 2006.
---------------------------------------------------------------------------
This fee became effective January 1, 2007. The text of the proposed
rule change is available at the Commission's Public Reference Room, the
Exchange's Web site at https://www.phlx.com/exchange/rulefilings/2006/
SR-2006-84.pdf, and at the Exchange.
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 Exchange represents that the purpose of the proposed rule
change is to reduce the number of frivolous appeals by assessing a fee
for all appeals that are upheld. Currently, three Governors hear
appeals from decisions of Standing Committees, with the exception of an
appeal from the Nominating, Elections and Governance Committee, which
is heard by a majority of Governors who are not then candidates for
office. The appeal may require several hours of time from each
Governor. The Exchange believes that the appeal process is subject to
abuse by members, participants, member organizations and participant
organizations who incur no downside to filing repeated appeals, whether
valid or otherwise. The Exchange believes that, currently, the ease
with which an appeal can be filed and receive a ``second look'' at no
cost creates a potential for abuse. This fee will become effective
January 1, 2007.
An appeal from a decision of the Business Conduct Committee, the
Hearing Officer or a Hearing Panel,
[[Page 2079]]
pursuant to Exchange Rule 960.9 and By-Law Article XI, Section 11-3,
and an appeal from a decision of the Nominating, Elections and
Governance Committee, pursuant to By-Law Article XI, Section 11-1, will
not be subject to the Appeal Fee. The Appeal Fee, which will be paid by
appellant at the time of filing an appeal, will be refunded to the
appellant in the event the Board of Governors overturns the decision of
the Standing Committee.
2. Statutory Basis
The Exchange believes that its proposal to amend its schedule of
fees is consistent with Section 6(b) of the Act \8\ in general, and
furthers the objectives of Section 6(b)(5) \9\ in particular in that it
is designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principals of trade, to foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, and to remove the impediments to and
perfect the mechanism of a free and open market and a national market
system. Finally, the proposed rule change furthers the objectives of
Section 6(b)(4) of the Act \10\ in particular, in that it is an
equitable allocation of reasonable fees and other charges among
Exchange members.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78(f)(b)(5).
\10\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Phlx 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
No written comments were either solicited or 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)(ii) of the Act \11\ and subparagraph (f)(2) of Rule 19b-4
thereunder \12\ because it establishes or changes a due, fee, or other
charge. At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.\13\
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78s(b)(3)(A)(ii).
\12\ 17 CFR 240.19b-4(f)(2).
\13\ For purposes of calculating the 60-day period within which
the Commission may summarily abrogate the proposed rule change the
Commission considers the period to commence on December 20, 2006,
the date on which the Exchange filed Amendment No. 1. See 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, as amended, 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-Phlx-2006-84 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-Phlx-2006-84. 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-Phlx-2006-84 and should be submitted on or before
February 7, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------
\14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-479 Filed 1-16-07; 8:45 am]
BILLING CODE 8011-01-P
