Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of Proposed Rule Change and Amendment No. 1 Thereto Amending Existing Rules for Portfolio Depositary Receipts and Index Fund Shares, 6624-6626 [E7-2252]
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Federal Register / Vol. 72, No. 28 / Monday, February 12, 2007 / Notices
APPENDIX—Continued
Registration number
84–5755
84–5756
84–5773
84–5812
84–5816
84–5826
84–5847
84–5872
84–5873
84–5885
84–5897
84–5899
84–5912
84–6019
84–6032
84–6034
84–6039
84–6045
84–6059
84–6077
84–6092
84–6097
84–6101
84–6126
84–6131
84–6157
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[FR Doc. E7–2245 Filed 2–9–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
sroberts on PROD1PC70 with NOTICES
Notice is hereby given, pursuant to the
provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold the following
meeting during the week of February
12, 2007:
A Closed Meeting will be held on
Thursday, February 15, 2007 at 10 a.m.
Commissioners, Counsels to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters may also be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (4), (5), (7), 9(B) and
(10) and 17 CFR 200.402(a)(3), (4), (5),
(7), 9(ii) and (10) permit consideration
of the scheduled matters at the Closed
Meeting.
Commissioner Atkins, as duty officer,
voted to consider the items listed for the
closed meeting in a closed session.
The subject matter of the Closed
Meeting scheduled for Thursday,
February 15, 2007 will be:
VerDate Aug<31>2005
19:52 Feb 09, 2007
Jkt 211001
River Oaks Partnership Services, Inc.
IDM Corporation.
RVM Industries, Inc.
Stock Transfer of America, Inc.
Wasatch Stock Transfer, Inc.
Lewis, Corey L.
Financial Strategies, LLC.
D-Lanz Development Group, Inc.
CBIZ Retirement Services, Inc.
Sovereign Depository Corporation.
Newport Stock Transfer Agency, Inc.
U.S. Corporate Support Services, Inc.
Femis Kerger & Company Transfer Agent & Registrar.
Touch America.
Merge Media, Inc.
Chapman Capital Management, Inc.
First Financial Escrow & Transfer, Inc.
Pharmacy Buying Association, Inc.
Street Transfer & Registrar Agency.
Brown Brothers Harriman & Co.
Brookhill Stock Transfer Business Trust.
Certified Water Systems, Inc.
Lauries Happy Thoughts, Inc.
Fidelity Custodian Services, Inc.
Carolyn Plant.
Encompass Corporate Services.
Formal orders of investigation;
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings of an
enforcement nature;
Resolution of a litigation claim;
Adjudicatory matters;
Amicus consideration; and
Other matters relating to enforcement
proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact:
The Office of the Secretary at (202)
551–5400.
Dated: February 7, 2007.
Nancy M. Morris,
Secretary.
[FR Doc. 07–629 Filed 2–8–07; 10:47 am]
BILLING CODE 8010–01–P
PO 00000
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55240; File No. SR–Amex–
2007–07]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing of Proposed Rule Change and
Amendment No. 1 Thereto Amending
Existing Rules for Portfolio Depositary
Receipts and Index Fund Shares
February 5, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 2 thereunder,
notice is hereby given that on January
11, 2007, 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, II, and III below, which Items
have been substantially prepared by the
Exchange. On January 25, 2007, the
Amex submitted Amendment No. 1 to
the proposed rule change. The
Commission is publishing this notice to
solicit comments on the proposed rule
change, as amended, from interested
persons.
1 15
2 17
Frm 00108
Fmt 4703
Sfmt 4703
E:\FR\FM\12FEN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
12FEN1
Federal Register / Vol. 72, No. 28 / Monday, February 12, 2007 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend its
existing rules for portfolio depositary
receipts (Rule 1000) and index fund
shares (Rule 1000A) to eliminate the
methodology standards for eligible
indexes.
The text of the proposed rule change
is available at the Amex, the
Commission’s Public Reference Room,
and https://www.amex.com.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Amex included statements concerning
the purpose of and basis for the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Amex has substantially 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
sroberts on PROD1PC70 with NOTICES
The purpose of this proposed rule
change is to amend Amex’s existing
generic listing standards pursuant to
Rule 19b–4(e) under the Act 3 for
portfolio depositary receipts (‘‘PDRs’’)
and index fund shares 4 to eliminate the
requirement that an eligible index be
calculated following a specified
methodology.
The Exchange currently has generic
listing standards (within the meaning of
Rule 19b–4(e) under the Act 5), which
permit the listing and trading of various
qualifying ETFs subject to the
procedures contained in Rule 19b–4(e).
The existence of generic listing
standards allows qualifying ETFs to list
or trade without the need to file a rule
change for each security under Rule
19b–4 under the Act.6 By amending its
generic listing standards pursuant to
Rule 19b–4(e), the Exchange intends to
reduce the time frame for listing ETFs
that rely on indexes that utilize
methodologies not currently identified
in the generic listing standards and
3 17
CFR 240.19b–4(e).
and index fund shares are registered
investment companies under the Investment
Company Act of 1940 and are referred to in this
filing as exchange traded funds (‘‘ETFs’’).
5 17 CFR 240.19b–4(e).
6 17 CFR 240.19b–4.
4 PDRs
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19:52 Feb 09, 2007
Jkt 211001
thereby reduce the burdens on issuers
and other market participants.
The generic listing standards for ETFs
presently provide that eligible indexes
be calculated based on the market
capitalization, modified market
capitalization, price, equal-dollar, or
modified equal-dollar weighting
methodology.7 The proposed rule
change will eliminate this standard and,
as a result, the Exchange will no longer
consider index methodology in its
review of an ETF’s eligibility for listing
and trading pursuant to Rule 19b–4(e)
under the Act.8
The Exchange states that as the
market for ETFs has grown and the ETF
product line matured, the Exchange has
witnessed an increase in the number of
methodologies used to calculate
indexes. In order for an index that
employs a novel methodology to satisfy
the current generic listing standards,
either a traditional methodology must
be substituted for the intended
methodology, or the Exchange must
submit a proposed rule change to the
Commission amending the generic
listing standards to include the
additional methodology. In this regard,
the Exchange notes that, recently, both
The NASDAQ Stock Market LLC and
NYSE Arca, Inc. filed rule changes with
the Commission in order to permit
eligible indexes to be calculated based
on a methodology weighting
components based on their particular
financial attributes.9
The Exchange believes that the
proposed elimination of index
methodology from its generic listing
standards for ETFs would potentially
reduce the time frame for bringing ETFs
based on indexes with nontraditional
weighting techniques to the market,
thereby reducing the burdens on issuers
and other market participants and
promoting competition. The Exchange
notes that indexes underlying ETFs
would continue to be subject to the
other requirements of the generic listing
standards pursuant to Rule 19b–4(e)
under the Act.10 For example, the
generic listing standards for domestic
indexes require, without limitation, that
the most heavily weighted component
7 See Commentary .03(b)(i) to Amex Rule 1000
and Commentary .02(b)(i) to Amex Rule 1000A.
8 17 CFR 240.19b–4(e).
9 See Securities Exchange Act Release Nos. 54459
(September 15, 2006), 71 FR 55533 (September 22,
2006) (SR–NASDAQ–2006–035); 54490 (September
22, 2006), 71 FR 58034 (October 2, 2006) (SR–
NYSEArca-2006–61). Telephone conference among
Courtney McBride, Assistant General Counsel,
Amex, Brian Trackman, Special Counsel, and
Michou Nguyen, Special Counsel, Division of
Market Regulation, Commission on February 2,
2007.
10 17 CFR 240.19b–4(e).
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Sfmt 4703
6625
stock of an index not exceed 30% of the
weight of the index, and the five most
heavily weighted component stocks of
an index not exceed 65% of the weight
of the index,11 and that an index
include a minimum of 13 component
stocks.12 Similarly, the generic listing
standards for international or global
indexes require, without limitation, that
the most heavily weighted component
stock of an index not exceed 25% of the
weight of the index, and the five most
heavily weighted component stocks of
an index not exceed 60% of the weight
of the index,13 and that an index
include a minimum of 20 component
stocks.14 The Exchange believes that
such requirements will ensure that
underlying indexes are sufficiently
diversified, and that their components
are sufficiently liquid to serve as the
basis for an ETF.
2. Statutory Basis
The Amex believes that the proposed
rule change is consistent with the
requirements of Section 6(b) of the
Act 15 in general, and furthers the
objectives of Section 6(b)(5),16 of the Act
in particular, in that it is designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, to remove
impediments to and perfect the
mechanism of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest. The Exchange believes
that the proposed rule change will
facilitate the listing and trading of ETFs,
thereby reducing the burdens on issuers
and other market participants.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes that the
proposed rule change would not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange states that no written
comments were solicited or received
with respect to the proposed rule
change.
11 See Commentary .03(a)(A)(3) to Amex Rule
1000 and Commentary .02(a)(A)(3).
12 See Commentary .03(a)(A)(4) to Amex Rule
1000 and Commentary .02(a)(A)(4).
13 See Commentary .03(a)(B)(3) to Amex Rule
1000 and Commentary .02(a)(B)(3).
14 See Commentary .03(a)(B)(4) to Amex Rule
1000 and Commentary .02(a)(B)(4).
15 15 U.S.C. 78f(b).
16 15 U.S.C. 78f(b)(5).
E:\FR\FM\12FEN1.SGM
12FEN1
6626
Federal Register / Vol. 72, No. 28 / Monday, February 12, 2007 / Notices
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the self-regulatory
organization consents, the Commission
will:
(A) By order approve such proposed
rule change, or
(B) institute proceedings to determine
whether the proposed rule change
should be disapproved.
The Amex has requested accelerated
approval of this proposed rule change
prior to the 30th day after the date of
publication of the notice of the filing
thereof. The Commission has
determined that a 15-day comment
period is appropriate in this case.
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 the 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–2007–07 and should
be submitted on or before February 27,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.17
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–2252 Filed 2–9–07; 8:45 am]
BILLING CODE 8010–01–P
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 Exchange
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–2007–07 on the
subject line.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55233; File No. SR–BSE–
2006–56]
Self-Regulatory Organizations; Boston
Stock Exchange, Inc.; Notice of Filing
of Proposed Rule Change and
Amendment No. 1 Thereto To Add to
the Boston Options Exchange a New
Functionality Called an Automatic
Auction Order
February 2, 2007.
sroberts on PROD1PC70 with NOTICES
Paper Comments
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
• Send paper comments in triplicate
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
to Nancy M. Morris, Secretary,
notice is hereby given that on December
Securities and Exchange Commission,
15, 2006, the Boston Stock Exchange,
100 F Street, NE., Washington, DC
Inc. (‘‘BSE’’ or ‘‘Exchange’’) filed with
20549–1090.
the Securities and Exchange
All submissions should refer to File
Commission (‘‘Commission’’) the
Number SR–Amex–2007–07. This file
proposed rule change as described in
number should be included on the
subject line if e-mail is used. To help the Items I, II, and III below, which Items
have been substantially prepared by the
Commission process and review your
BSE. On February 1, 2007, BSE filed
comments more efficiently, please use
only one method. The Commission will Amendment No. 1 to the proposed rule
3
post all comments on the Commission’s change. The Commission is publishing
this notice to solicit comments on the
Internet Web site (https://www.sec.gov/
proposed rule change, as amended, from
rules/sro.shtml). Copies of the
interested persons.
submission, all subsequent
amendments, all written statements
17 17 CFR 200.30–3(a)(12).
with respect to the proposed rule
1 15 U.S.C. 78s(b)(1).
change that are filed with the
2 17 CFR 240.19b–4.
Commission, and all written
3 In Amendment No. 1, BSE granted the
communications relating to the
Commission an extension of the time period
proposed rule change between the
specified in Section 19(b)(2) of the Act for
Commission and any person, other than Commission action.
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19:52 Feb 09, 2007
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I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
Boston Options Exchange (‘‘BOX’’)
Rules to add a new functionality
referred to as an Automatic Auction
Order (‘‘AAO’’) in order to make it
easier for non-professional customers to
participate in a price improvement
auction (‘‘Improvement Auction’’). The
text of the proposed rule change is
available at BSE, the Commission’s
Public Reference Room, and https://
www.bostonstock.com/legal/
pending_rule_filings.html.
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
BSE 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 BSE 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
BSE seeks to amend the BOX Rules 4
to add a new order functionality called
an AAO in order to make it easier for
all Customers, including nonprofessional customers, to participate in
Improvement Auctions (e.g., the PIP).
BOX believes that the AAOs will
increase the number of Improvement
Orders that are submitted to an
Improvement Auction, thereby creating
increased competition and overall
liquidity while also improving
execution prices for trades that are
executed on BOX.
This AAO functionality automates a
process that is currently available to the
non-professional customer via the
Customer PIP Order (‘‘CPO’’). Currently,
however, it is difficult for nonprofessional customers to participate in
Improvement Auctions because of the
limited offering of the CPO by Order
Flow Providers (‘‘OFPs’’). Only a few
OFPs have made CPOs available to nonprofessional customers due, in large
part, to the constraints that are generally
4 Capitalized terms not otherwise defined herein
shall have the meanings prescribed under the BOX
Rules.
E:\FR\FM\12FEN1.SGM
12FEN1
]]>Agencies
[Federal Register Volume 72, Number 28 (Monday, February 12, 2007)]
[Notices]
[Pages 6624-6626]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-2252]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55240; File No. SR-Amex-2007-07]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing of Proposed Rule Change and Amendment No. 1 Thereto
Amending Existing Rules for Portfolio Depositary Receipts and Index
Fund Shares
February 5, 2007.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 \2\ thereunder, notice is hereby given
that on January 11, 2007, 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, II,
and III below, which Items have been substantially prepared by the
Exchange. On January 25, 2007, the Amex submitted Amendment No. 1 to
the proposed rule change. The Commission is publishing this notice to
solicit comments on the proposed rule change, as amended, from
interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
[[Page 6625]]
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend its existing rules for portfolio
depositary receipts (Rule 1000) and index fund shares (Rule 1000A) to
eliminate the methodology standards for eligible indexes.
The text of the proposed rule change is available at the Amex, the
Commission's Public Reference Room, and https://www.amex.com.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Amex included statements
concerning the purpose of and basis for the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Amex has substantially 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 proposed rule change is to amend Amex's
existing generic listing standards pursuant to Rule 19b-4(e) under the
Act \3\ for portfolio depositary receipts (``PDRs'') and index fund
shares \4\ to eliminate the requirement that an eligible index be
calculated following a specified methodology.
---------------------------------------------------------------------------
\3\ 17 CFR 240.19b-4(e).
\4\ PDRs and index fund shares are registered investment
companies under the Investment Company Act of 1940 and are referred
to in this filing as exchange traded funds (``ETFs'').
---------------------------------------------------------------------------
The Exchange currently has generic listing standards (within the
meaning of Rule 19b-4(e) under the Act \5\), which permit the listing
and trading of various qualifying ETFs subject to the procedures
contained in Rule 19b-4(e). The existence of generic listing standards
allows qualifying ETFs to list or trade without the need to file a rule
change for each security under Rule 19b-4 under the Act.\6\ By amending
its generic listing standards pursuant to Rule 19b-4(e), the Exchange
intends to reduce the time frame for listing ETFs that rely on indexes
that utilize methodologies not currently identified in the generic
listing standards and thereby reduce the burdens on issuers and other
market participants.
---------------------------------------------------------------------------
\5\ 17 CFR 240.19b-4(e).
\6\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
The generic listing standards for ETFs presently provide that
eligible indexes be calculated based on the market capitalization,
modified market capitalization, price, equal-dollar, or modified equal-
dollar weighting methodology.\7\ The proposed rule change will
eliminate this standard and, as a result, the Exchange will no longer
consider index methodology in its review of an ETF's eligibility for
listing and trading pursuant to Rule 19b-4(e) under the Act.\8\
---------------------------------------------------------------------------
\7\ See Commentary .03(b)(i) to Amex Rule 1000 and Commentary
.02(b)(i) to Amex Rule 1000A.
\8\ 17 CFR 240.19b-4(e).
---------------------------------------------------------------------------
The Exchange states that as the market for ETFs has grown and the
ETF product line matured, the Exchange has witnessed an increase in the
number of methodologies used to calculate indexes. In order for an
index that employs a novel methodology to satisfy the current generic
listing standards, either a traditional methodology must be substituted
for the intended methodology, or the Exchange must submit a proposed
rule change to the Commission amending the generic listing standards to
include the additional methodology. In this regard, the Exchange notes
that, recently, both The NASDAQ Stock Market LLC and NYSE Arca, Inc.
filed rule changes with the Commission in order to permit eligible
indexes to be calculated based on a methodology weighting components
based on their particular financial attributes.\9\
---------------------------------------------------------------------------
\9\ See Securities Exchange Act Release Nos. 54459 (September
15, 2006), 71 FR 55533 (September 22, 2006) (SR-NASDAQ-2006-035);
54490 (September 22, 2006), 71 FR 58034 (October 2, 2006) (SR-
NYSEArca-2006-61). Telephone conference among Courtney McBride,
Assistant General Counsel, Amex, Brian Trackman, Special Counsel,
and Michou Nguyen, Special Counsel, Division of Market Regulation,
Commission on February 2, 2007.
---------------------------------------------------------------------------
The Exchange believes that the proposed elimination of index
methodology from its generic listing standards for ETFs would
potentially reduce the time frame for bringing ETFs based on indexes
with nontraditional weighting techniques to the market, thereby
reducing the burdens on issuers and other market participants and
promoting competition. The Exchange notes that indexes underlying ETFs
would continue to be subject to the other requirements of the generic
listing standards pursuant to Rule 19b-4(e) under the Act.\10\ For
example, the generic listing standards for domestic indexes require,
without limitation, that the most heavily weighted component stock of
an index not exceed 30% of the weight of the index, and the five most
heavily weighted component stocks of an index not exceed 65% of the
weight of the index,\11\ and that an index include a minimum of 13
component stocks.\12\ Similarly, the generic listing standards for
international or global indexes require, without limitation, that the
most heavily weighted component stock of an index not exceed 25% of the
weight of the index, and the five most heavily weighted component
stocks of an index not exceed 60% of the weight of the index,\13\ and
that an index include a minimum of 20 component stocks.\14\ The
Exchange believes that such requirements will ensure that underlying
indexes are sufficiently diversified, and that their components are
sufficiently liquid to serve as the basis for an ETF.
---------------------------------------------------------------------------
\10\ 17 CFR 240.19b-4(e).
\11\ See Commentary .03(a)(A)(3) to Amex Rule 1000 and
Commentary .02(a)(A)(3).
\12\ See Commentary .03(a)(A)(4) to Amex Rule 1000 and
Commentary .02(a)(A)(4).
\13\ See Commentary .03(a)(B)(3) to Amex Rule 1000 and
Commentary .02(a)(B)(3).
\14\ See Commentary .03(a)(B)(4) to Amex Rule 1000 and
Commentary .02(a)(B)(4).
---------------------------------------------------------------------------
2. Statutory Basis
The Amex believes that the proposed rule change is consistent with
the requirements of Section 6(b) of the Act \15\ in general, and
furthers the objectives of Section 6(b)(5),\16\ of the Act in
particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to remove impediments to and perfect the mechanism
of a free and open market and a national market system, and, in
general, to protect investors and the public interest. The Exchange
believes that the proposed rule change will facilitate the listing and
trading of ETFs, thereby reducing the burdens on issuers and other
market participants.
---------------------------------------------------------------------------
\15\ 15 U.S.C. 78f(b).
\16\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange believes that the proposed rule change would not
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
The Exchange states that no written comments were solicited or
received with respect to the proposed rule change.
[[Page 6626]]
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
(A) By order approve such proposed rule change, or
(B) institute proceedings to determine whether the proposed rule
change should be disapproved.
The Amex has requested accelerated approval of this proposed rule
change prior to the 30th day after the date of publication of the
notice of the filing thereof. The Commission has determined that a 15-
day comment period is appropriate in this case.
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 Exchange 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-2007-07 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-2007-07. 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 the 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-2007-07 and should be submitted on or before February 27, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\17\
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\17\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-2252 Filed 2-9-07; 8:45 am]
BILLING CODE 8010-01-P
