Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delete From Section 804.00 of the Exchange's Listed Company Manual Text That Has Been Superseded, 12853-12854 [E7-4895]

Download as PDF Federal Register / Vol. 72, No. 52 / Monday, March 19, 2007 / Notices 19(b)(3)(A) of the Act 7 and Rule 19b– 4(f)(6) thereunder.8 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. 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–NASD–2007–019 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NASD–2007–019. 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 7 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires that a self-regulatory organization submit to the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Commission has determined to waive the five-day pre-filing notice requirement. ycherry on PROD1PC64 with NOTICES 8 17 VerDate Aug<31>2005 15:50 Mar 16, 2007 Jkt 211001 Room. Copies of such filing also will be available for inspection and copying at the principal office of NASD. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–NASD–2007–019 and should be submitted on or before April 9, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4894 Filed 3–16–07; 8:45 am] BILLING CODE 8010–01–P 12853 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, the self-regulatory organization 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 NYSE has prepared summaries, set forth in Sections A, B and C below, of the most significant aspects of such statements. SECURITIES AND EXCHANGE COMMISSION A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [Release No. 34–55448; File No. SR–NYSE– 2007–20] 1. Purpose Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delete From Section 804.00 of the Exchange’s Listed Company Manual Text That Has Been Superseded March 12, 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 February 22, 2007, the New York Stock Exchange LLC (‘‘NYSE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule changes as described in Items I and II below, which items have been substantially prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule changes from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Section 804.00 of the Exchange’s Listed Company Manual (‘‘Manual’’) to delete the rule text which applied prior to the implementation of the revised text of Section 804.00 on April 24, 2006. The text of the proposed rule change is available on the Exchange’s Web site (https://www.nyse.com), at the Exchange’s Office of the Secretary, and CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. Frm 00102 Fmt 4703 2. Statutory Basis The basis under the Exchange Act for this proposed rule change is the requirement under Section 6(b)(5) of the Act 4 that an exchange have rules that are 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, in general, to protect investors and the public interest. 3 17 CFR 240.12d2–2. See Securities Exchange Act Release No. 52029 (July 14, 2005), 70 FR 42456 (July 22, 2005). 4 15 U.S.C. 78f(b)(5). 9 17 PO 00000 The Exchange proposes to amend Section 804.00 of the Exchange’s Manual to delete the rule text which applied prior to the implementation of the revised text of Section 804.00 on April 24, 2006. On July 14, 2005, the Commission adopted amendments to Rule 12d2–2 under the Act.3 Rule 12d2– 2, as amended, required, among other things, all national securities exchanges, including the Exchange, to amend their delisting rules to conform with certain requirements set forth in amended Rule 12d2–2. The Exchange amended Section 804.00 in light of these requirements and its new delisting procedures superseded the old procedures on April 24, 2006. As such, the old procedures have no further application and, to avoid confusion, the Exchange proposes to delete them from Section 804.00 in their entirety. Sfmt 4703 E:\FR\FM\19MRN1.SGM 19MRN1 12854 Federal Register / Vol. 72, No. 52 / Monday, March 19, 2007 / Notices B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition 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 Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) by its terms, become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest, it has become effective pursuant to Section 19(b)(3)(A) of the Act 5 and Rule 19b–4(f)(6) thereunder.6 A proposed rule change filed under Rule 19b–4(f)(6) normally may not become operative prior to 30 days after the date of filing. However, Rule 19b– 4(f)(6)(iii) 7 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. Specifically, the Commission believes that the proposal should provide clarity to the Exchange’s Manual by deleting obsolete rule text. Accordingly, the Commission designates the proposal to be effective and operative upon filing with the Commission.8 At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such proposed rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. ycherry on PROD1PC64 with NOTICES 5 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 7 17 CFR 240.19b–4(f)(6)(iii). 8 For purposes only of waiving the operative delay for this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 6 17 VerDate Aug<31>2005 15:50 Mar 16, 2007 Jkt 211001 IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSE–2007–20 on the subject line. DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Notice Before Waiver With Respect to Land at the Carroll County Regional Airport, Westminster, MD Federal Aviation Administration (FAA), DOT. AGENCY: Notice of intent of waiver with respect to land. ACTION: SUMMARY: The FAA is publishing notice of proposed release of approximately thirteen (13) acres of land acquired with local funds at the Carroll County Paper Comments Regional Airport, Westminster, Maryland to the National Instrument, • Send paper comments in triplicate LLC. The airport will receive to Nancy M. Morris, Secretary, $1,168,298.80 in addition to protective Securities and Exchange Commission, easements and other considerations that 100 F Street, NE., Washington, DC will complement anticipated airport 20549–1090. development. There are no impacts to All submissions should refer to File the airport and the land is not needed Number SR–NYSE–2007–20. This file for airport development as shown on the number should be included on the subject line if e-mail is used. To help the Airport Layout Plan. Commission process and review your DATES: Comments must be received on comments more efficiently, please use or before April 18, 2007. only one method. The Commission will post all comments on the Commission’s ADDRESSES: Comments on this application may be mailed or delivered Internet Web site (https://www.sec.gov/ in triplicate to the FAA at the following rules/sro.shtml). Copies of the address: Terry J. Page, Manager, FAA submission, all subsequent Washington Airports District Office, amendments, all written statements 23723 Air Freight Lane, Suite 210, with respect to the proposed rule Dulles, VA 20166. change that are filed with the Commission, and all written In addition, one copy of any communications relating to the comments submitted to the FAA must proposed rule change between the be mailed or delivered to Ms. Renny Commission and any person, other than Manuel, Executive Director Winchester those that may be withheld from the Regional Airport Authority, at the public in accordance with the following address: Mr. Joseph R. provisions of 5 U.S.C. 552, will be Varrone, Administrator, Office of available for inspection and copying in Performance Auditing and Special the Commission’s Public Reference Projects, Carroll County Government, Room. Copies of such filing also will be 225 North Center Street, Westminster, available for inspection and copying at Maryland 21157–5194. the principal office of the Exchange. All FOR FURTHER INFORMATION CONTACT: Mr. comments received will be posted Terry Page, Manager, Washington without change; the Commission does Airports District Office, 23723 Air not edit personal identifying Freight lane, Suite 210, Dulles, VA information from submissions. You 20166; telephone (703) 661–1354, fax should submit only information that you wish to make available publicly. All (703) 661–1370, e-mail Terry.Page@faa.gov. submissions should refer to File Number SR–NYSE–2007–20 and should SUPPLEMENTARY INFORMATION: On April be submitted on or before April 9, 2007. 5, 2000, new authorizing legislation For the Commission, by the Division of became effective. That bill, the Wendell Market Regulation, pursuant to delegated H. Ford Aviation Investment and authority.9 Reform Act for the 21st Century, Public Florence E. Harmon, Law 10–181 (Apr. 5, 2000; 114 Stat. 61) Deputy Secretary. (AIR 21) requires that a 30-day public [FR Doc. E7–4895 Filed 3–16–07; 8:45 am] notice must be provided before the Secretary may waive any condition BILLING CODE 8010–01–P imposed on an interest in surplus 9 17 CFR 200.30–3(a)(12). property. PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 E:\FR\FM\19MRN1.SGM 19MRN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 72, Number 52 (Monday, March 19, 2007)]
[Notices]
[Pages 12853-12854]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-4895]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55448; File No. SR-NYSE-2007-20]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Delete From Section 804.00 of the Exchange's Listed Company Manual Text 
That Has Been Superseded

March 12, 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 February 22, 2007, the New York Stock Exchange LLC (``NYSE'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule changes as described in Items I and 
II below, which items have been substantially prepared by the Exchange. 
The Commission is publishing this notice to solicit comments on the 
proposed rule changes from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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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 Section 804.00 of the Exchange's 
Listed Company Manual (``Manual'') to delete the rule text which 
applied prior to the implementation of the revised text of Section 
804.00 on April 24, 2006. The text of the proposed rule change is 
available on the Exchange's Web site (https://www.nyse.com), at the 
Exchange's Office of the Secretary, 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, the self-regulatory organization 
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 NYSE 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 proposes to amend Section 804.00 of the Exchange's 
Manual to delete the rule text which applied prior to the 
implementation of the revised text of Section 804.00 on April 24, 2006. 
On July 14, 2005, the Commission adopted amendments to Rule 12d2-2 
under the Act.\3\ Rule 12d2-2, as amended, required, among other 
things, all national securities exchanges, including the Exchange, to 
amend their delisting rules to conform with certain requirements set 
forth in amended Rule 12d2-2. The Exchange amended Section 804.00 in 
light of these requirements and its new delisting procedures superseded 
the old procedures on April 24, 2006. As such, the old procedures have 
no further application and, to avoid confusion, the Exchange proposes 
to delete them from Section 804.00 in their entirety.
---------------------------------------------------------------------------

    \3\ 17 CFR 240.12d2-2. See Securities Exchange Act Release No. 
52029 (July 14, 2005), 70 FR 42456 (July 22, 2005).
---------------------------------------------------------------------------

2. Statutory Basis
    The basis under the Exchange Act for this proposed rule change is 
the requirement under Section 6(b)(5) of the Act \4\ that an exchange 
have rules that are 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, in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b)(5).

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[[Page 12854]]

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition 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

    Written comments were neither solicited nor received.

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

    Because the foregoing proposed rule change does not: (i) 
Significantly affect the protection of investors or the public 
interest; (ii) impose any significant burden on competition; and (iii) 
by its terms, become operative for 30 days from the date on which it 
was filed, or such shorter time as the Commission may designate if 
consistent with the protection of investors and the public interest, it 
has become effective pursuant to Section 19(b)(3)(A) of the Act \5\ and 
Rule 19b-4(f)(6) thereunder.\6\
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally may 
not become operative prior to 30 days after the date of filing. 
However, Rule 19b-4(f)(6)(iii) \7\ permits the Commission to designate 
a shorter time if such action is consistent with the protection of 
investors and the public interest. The Exchange has requested that the 
Commission waive the 30-day operative delay. The Commission believes 
that waiver of the 30-day operative delay is consistent with the 
protection of investors and the public interest. Specifically, the 
Commission believes that the proposal should provide clarity to the 
Exchange's Manual by deleting obsolete rule text. Accordingly, the 
Commission designates the proposal to be effective and operative upon 
filing with the Commission.\8\
---------------------------------------------------------------------------

    \7\ 17 CFR 240.19b-4(f)(6)(iii).
    \8\ For purposes only of waiving the operative delay for this 
proposal, the Commission has considered the proposed rule's impact 
on efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission may summarily abrogate such proposed rule change 
if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NYSE-2007-20 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSE-2007-20. 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-NYSE-2007-20 and should be submitted on or before April 
9, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-4895 Filed 3-16-07; 8:45 am]
BILLING CODE 8010-01-P

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