Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of a Proposed Rule Change and Amendment No. 1 Thereto Clarifying the Continued Listing Standards for Units, 13540-13542 [E7-5205]
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Federal Register / Vol. 72, No. 55 / Thursday, March 22, 2007 / Notices
Carmen Suro-Bredie,
Chairman, Trade Policy Staff Committee.
[FR Doc. E7–5268 Filed 3–21–07; 8:45 am]
BILLING CODE 3190–W7–P
RAILROAD RETIREMENT BOARD
rwilkins on PROD1PC63 with NOTICES
Proposed Collection; Comment
Request
Summary: In accordance with the
requirement of Section 3506 (c)(2)(A) of
the Paperwork Reduction Act of 1995
which provides opportunity for public
comment on new or revised data
collections, the Railroad Retirement
Board (RRB) will publish periodic
summaries of proposed data collections.
Comments are invited on: (a) Whether
the proposed information collection is
necessary for the proper performance of
the functions of the agency, including
whether the information has practical
utility; (b) the accuracy of the RRB’s
estimate of the burden of the collection
of the information; (c) ways to enhance
the quality, utility, and clarity of the
information to be collected; and (d)
ways to minimize the burden related to
the collection of information on
respondents, including the use of
automated collection techniques or
other forms of information technology.
Title and purpose of information
collection: Supplement to Claim of
Person Outside the United States; OMB
3220–0155. Under the Social Security
Amendments of 1983 (Pub. L. 98–21),
which amends Section 202(t) of the
Social Security Act, the Tier I or the
O/M (overall minimum) portion of an
annuity and Medicare benefits payable
under the Railroad Retirement Act to
certain beneficiaries living outside the
U.S., may be withheld effective January
1, 1985. The benefit withholding
provision of Public Law 98–21 applies
to divorced spouses, spouses, minor or
disabled children, students, and
survivors of railroad employees who (1)
Initially became eligible for Tier I
amounts, O/M shares, and Medicare
benefits after December 31, 1984; (2) are
not U.S. citizens or U.S. nationals; and
(3) have resided outside the U.S. for
more than six consecutive months
starting with the annuity beginning
date. The benefit withholding provision
does not apply, however to a beneficiary
who is exempt under either a treaty
obligation of the United States, in effect
on August 1, 1956, or a totalization
agreement between the United States
and the country in which the
beneficiary resides, or to an individual
who is exempt under other criteria
specified in Public Law 98–21.
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RRB Form G–45, Supplement to
Claim of Person Outside the United
States, is currently used by the RRB to
determine applicability of the
withholding provision of Public Law
98–21. Completion of the form is
required to obtain or retain a benefit.
One response is requested of each
respondent. The RRB estimates that 100
Form G–45s are completed annually.
The completion time for Form G–45 is
estimated at 10 minutes per response.
The RRB proposes no changes to
Form G–45.
Additional Information or Comments:
To request more information or to
obtain a copy of the information
collection justification, forms, and/or
supporting material, please call the RRB
Clearance Officer at (312) 751–3363 or
send an e-mail request to
Charles.Mierzwa@RRB.GOV. Comments
regarding the information collection
should be addressed to Ronald J.
Hodapp, Railroad Retirement Board, 844
North Rush Street, Chicago, IL 60611–
2092 or send an e-mail to
Ronald.Hodapp@RRB.GOV. Written
comments should be received within 60
days of this notice.
Charles Mierzwa,
Clearance Officer.
[FR Doc. E7–5240 Filed 3–21–07; 8:45 am]
BILLING CODE 7905–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55479; File No. SR–Amex–
2006–114]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing of a Proposed Rule Change
and Amendment No. 1 Thereto
Clarifying the Continued Listing
Standards for Units
March 15, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (‘‘Act’’
or ‘‘Exchange Act’’) 1 and Rule 19b–4
thereunder,2 notice is hereby given that
on December 4, 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, II, and
III below, which Items have been
prepared substantially by Amex. On
February 22, 2007, Amex filed
Amendment No. 1 to the proposed rule
change. The Commission is publishing
this notice to solicit comments on the
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00073
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Sfmt 4703
proposed rule change, as amended, from
interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to (1) amend
Section 1003(g) of the Amex Company
Guide to strengthen the procedures
applicable to units when their
components fall below continued listing
standards and clarify the application of
continued listing standards to
individual components comprising
units once some (but not all) of the units
have separated into their component
parts and (2) make minor, technical
changes to Sections 1003(a), (c), (d) and
(f) of the Amex Company Guide. The
text of the proposal is available at
Amex, at the Commission’s Public
Reference Room, and on Amex’s Web
site at 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,
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, and the most
significant aspects of such statements
are set forth in Sections A, B, and C
below.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Section 1003(g) of the Amex Company
Guide currently provides that the
Exchange will ‘‘normally consider’’
suspending or delisting units if any of
their component parts do not meet the
applicable continued listing standards.
However, if one or more of the
components is otherwise qualified for
listing, such component may remain
listed. For example, a unit comprised of
both a common stock component and a
debt component would face suspension
or delisting procedures if either the
common stock or the debt component
no longer met its applicable continued
listing standards. As a result, if the debt
component failed to meet the continued
listing standards for bonds, both the
unit and such debt component would be
subject to suspension or delisting
procedures, but the common stock
component could independently remain
listed and continue to trade on the
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Federal Register / Vol. 72, No. 55 / Thursday, March 22, 2007 / Notices
Exchange, provided such common stock
component met the continued listing
standards for equity securities.
The Exchange proposes to strengthen
Section 1003(g) of the Amex Company
Guide so that in the event a component
of a unit does not meet its continued
listing standards, the Exchange would
no longer ‘‘consider’’ suspending or
delisting the unit, but would commence
a formal, continued listing evaluation of
such component and unit in accordance
with Section 1009 of the Amex
Company Guide. Section 1009 sets forth
the suspension and delisting
procedures, timelines, and requirements
applicable to issuers identified as being
below certain continued listing
standards. For example, an issuer of
particular securities that receives
notification from the Exchange that it is
below the continued listing criteria for
such securities must publicly announce
receipt of such notification and the
policies and standards upon which the
determination is based.3
The Exchange also proposes to add
language to Section 1003(g) to clarify
the applicability of certain continued
listing standards relating to components
of units that have separated. When units
in good standing begin to separate into
their component securities, the
remaining units that are still intact and
the components of those units which
have separated may all be separately
listed and continue to trade, provided
that they meet the applicable continued
listing standards. The proposal specifies
that, in determining whether a
particular component meets the
continued listing distribution standards
set forth in Section 1003(b) of the
Company Guide, the distribution values
for units that are intact and freely
separable into their component parts
and for separately-traded components
will be aggregated. For example, if
120,000 shares of common stock are
publicly held after their separation from
their units, and 210,000 intact and
freely separable units are publicly held,
the common stock will be credited with
having 330,000 shares publicly held,
enabling it to satisfy one of the
distribution standards for common
stock, which requires at least 200,000
shares of common stock to be publicly
held.4 If the units cease to exist or are
no longer freely separable and/or listed
on the Exchange, the separately-traded
components will still be required to
meet their applicable continued listing
3 See Section 1009(j) of the Amex Company
Guide.
4 See Section 1003(b)(i)(A) of the Amex Company
Guide.
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standards, but the distribution values
will not be aggregated.5
The Exchange will also consider
suspending trading in, or removing from
listing, an individual component or unit
if the distribution values of such
component or unit become so reduced
as to make continued listing inadvisable
and despite the fact that the aggregated
distribution values satisfy the continued
listing distribution standards. In its
review of the advisability of the
continued listing of an individual
component or unit under such
circumstances, the Exchange proposes
to take into account the trading
characteristics of the component or unit
and whether it would be in the public
interest for trading in such component
or unit to continue. The Exchange
believes that this proposal will enhance
the transparency of its continued listing
standards.
The Exchange also proposes to make
technical revisions to Sections 1003(a),
(c), (d) and (f) in order to consistently
use the term ‘‘issuer’’ as opposed to
‘‘company.’’
2. Statutory Basis
The proposed rule change is
consistent with Section 6 of the Act,6 in
general, and furthers the objectives of
Section 6(b)(5),7 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.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change would 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 did not receive any
written comments on the proposed rule
change.
5 See proposed Section 1003(g) of the Amex
Company Guide. The Commission notes that under
proposed Section 1003(g), if in the above example
the units are no longer freely separable into
common stock, there would be no aggregation of
units with the common stock for purposes of
evaluating whether the units and comment stock
meet the continued listing standards.
6 15 U.S.C. 78f.
7 15 U.S.C. 78f(b)(5).
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13541
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 Amex 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.
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–2006–114 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–2006–114. 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 Exchange. All
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Federal Register / Vol. 72, No. 55 / Thursday, March 22, 2007 / Notices
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–2006–114 and
should be submitted on or before April
12, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.8
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–5205 Filed 3–21–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55477; File No. SR–Amex–
2006–99]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing of Proposed Rule Change and
Amendment No. 1 Thereto Relating to
Reverse Mergers
March 15, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934, as
amended (the ‘‘Act’’) 1 and Rule 19b–4
thereunder,2 notice is hereby given that
on October 5, 2006, the American Stock
Exchange LLC (the ‘‘Amex’’ or the
‘‘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
prepared by the Exchange. On February
14, 2007, the Exchange filed
Amendment No. 1 to the proposed rule
change.3 The Commission is publishing
this notice to solicit comments on the
proposed rule change, as amended, from
interested persons.
8 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Amendment No. 1 makes revisions to the
proposed rule text, including revisions conforming
the proposed rule text to a filing submitted by The
NASDAQ Stock Market LLC (‘‘Nasdaq’’) and
approved by the Commission in the period
following submission of the original filing
(Securities Exchange Act Release No. 55052
(January 5, 2007), 72 FR 1569 (January 12, 2007)
(SR–NASDAQ–2006–047)) and revisions
incorporating an immediately effective filing
submitted by Amex in the same period (Securities
Exchange Act Release No. 55096 (January 12, 2007),
72 FR 2563 (January 19, 2007) (SR–Amex–2007–
03)). Amendment No. 1 replaces and supersedes the
original filing in its entirety.
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1 15
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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 (i)
Section 341 of the Amex Company
Guide to clarify the circumstances
under which a listed issuer will be
deemed to have engaged in a reverse
merger thereby requiring the posttransaction entity to satisfy the initial
listing standards and the process a listed
issuer must follow when applying for
initial listing in connection with a
reverse merger and (ii) Section 713 of
the Amex Company Guide to require
shareholder approval in connection
with the issuance or potential issuance
of additional listed securities that will
result in a change of control of a listed
issuer.
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, the 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, 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 the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Section 341 of the Amex Company
Guide currently provides that if an
issuer listed on the Amex engages in
any plan of acquisition, merger or
consolidation, the net effect of which is
that the listed issuer is acquired by an
unlisted entity, even if the listed issuer
is the nominal survivor, the posttransaction entity is required to satisfy
the initial listing standards. Such
transactions are typically referred to as
‘‘Reverse Mergers.’’ Because the issuer
resulting from a Reverse Merger is
essentially a different entity from the
listed issuer, Section 341 does not
permit the post-transaction entity to
remain listed on the Amex unless it
qualifies as a new listing. This
prohibition is intended to prevent ‘‘back
door listings’’ whereby an unqualified
PO 00000
Frm 00075
Fmt 4703
Sfmt 4703
entity attempts to obtain an Amex
listing. Both the New York Stock
Exchange LLC (‘‘NYSE’’) 4 and Nasdaq 5
have comparable provisions.
Many Reverse Mergers are entered
into for bona fide business reasons,
however, in some cases listed issuers
that are not in compliance with the
continued listing standards, and face
potential delisting, attempt to enter into
Reverse Mergers with private entities in
order to retain their Amex listing. In
other situations, a listed issuer may be
in compliance with the continued
listing standards but the posttransaction entity would not satisfy the
initial listing standards. In both of these
cases, a change of control occurs but the
listed issuer attempts to structure the
transaction so that it will not be deemed
a Reverse Merger under the current rule.
The Exchange proposes amending
Section 341 to provide greater clarity
and transparency as to (i) what
constitutes a Reverse Merger, (ii) the
factors the Exchange will consider in
determining whether a transaction or
series of transactions constitute(s) a
Reverse Merger, (iii) the consequences
of entering into a Reverse Merger and
(iv) the process a listed issuer must
follow in connection with a Reverse
Merger. The proposed rule change will
provide that, in addition to meeting the
initial listing standards, a listed
company entering into a Reverse Merger
will need to obtain shareholder
approval in accordance with Section
713 in order to issue additional listed
securities in connection with such
Reverse Merger. In addition, while the
determination of whether a Reverse
Merger has occurred or will occur is to
some degree subjective, the Exchange
proposes to amend Section 341 to more
clearly delineate the factors that will be
considered by the Exchange in its
analysis of a transaction.6
With regards to the process to be
followed by listed issuers in connection
with Reverse Mergers, Section 341
4 Section 703.08(E) of the NYSE Listed Company
Manual.
5 Nasdaq Rule 4340(a).
6 The Exchange’s proposed Section 341 states that
a ‘‘Reverse Merger’’ is: ‘‘any plan of acquisition,
merger or consolidation whereby a listed company
combines with, or into, a company not listed on the
Exchange, resulting in a change of control of the
listed company and potentially allowing such
unlisted company to obtain an Exchange listing. In
determining whether a change of control constitutes
a Reverse Merger, the Exchange will consider all
relevant factors, including, but not limited to,
changes in the management, board of directors,
voting power, ownership, and financial structure of
the listed company. The Exchange will also
consider the nature of the businesses and the
relative size of both the listed and the unlisted
companies.’’ See proposed Section 341 of the Amex
Company Guide.
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]]>Agencies
[Federal Register Volume 72, Number 55 (Thursday, March 22, 2007)]
[Notices]
[Pages 13540-13542]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-5205]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55479; File No. SR-Amex-2006-114]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing of a Proposed Rule Change and Amendment No. 1 Thereto
Clarifying the Continued Listing Standards for Units
March 15, 2007.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'' or ``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on December 4, 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, II, and III below, which Items have been prepared
substantially by Amex. On February 22, 2007, Amex filed 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.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to (1) amend Section 1003(g) of the Amex
Company Guide to strengthen the procedures applicable to units when
their components fall below continued listing standards and clarify the
application of continued listing standards to individual components
comprising units once some (but not all) of the units have separated
into their component parts and (2) make minor, technical changes to
Sections 1003(a), (c), (d) and (f) of the Amex Company Guide. The text
of the proposal is available at Amex, at the Commission's Public
Reference Room, and on Amex's Web site at 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, 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, and the most significant aspects of such statements are
set forth in Sections A, B, and C below.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
Section 1003(g) of the Amex Company Guide currently provides that
the Exchange will ``normally consider'' suspending or delisting units
if any of their component parts do not meet the applicable continued
listing standards. However, if one or more of the components is
otherwise qualified for listing, such component may remain listed. For
example, a unit comprised of both a common stock component and a debt
component would face suspension or delisting procedures if either the
common stock or the debt component no longer met its applicable
continued listing standards. As a result, if the debt component failed
to meet the continued listing standards for bonds, both the unit and
such debt component would be subject to suspension or delisting
procedures, but the common stock component could independently remain
listed and continue to trade on the
[[Page 13541]]
Exchange, provided such common stock component met the continued
listing standards for equity securities.
The Exchange proposes to strengthen Section 1003(g) of the Amex
Company Guide so that in the event a component of a unit does not meet
its continued listing standards, the Exchange would no longer
``consider'' suspending or delisting the unit, but would commence a
formal, continued listing evaluation of such component and unit in
accordance with Section 1009 of the Amex Company Guide. Section 1009
sets forth the suspension and delisting procedures, timelines, and
requirements applicable to issuers identified as being below certain
continued listing standards. For example, an issuer of particular
securities that receives notification from the Exchange that it is
below the continued listing criteria for such securities must publicly
announce receipt of such notification and the policies and standards
upon which the determination is based.\3\
---------------------------------------------------------------------------
\3\ See Section 1009(j) of the Amex Company Guide.
---------------------------------------------------------------------------
The Exchange also proposes to add language to Section 1003(g) to
clarify the applicability of certain continued listing standards
relating to components of units that have separated. When units in good
standing begin to separate into their component securities, the
remaining units that are still intact and the components of those units
which have separated may all be separately listed and continue to
trade, provided that they meet the applicable continued listing
standards. The proposal specifies that, in determining whether a
particular component meets the continued listing distribution standards
set forth in Section 1003(b) of the Company Guide, the distribution
values for units that are intact and freely separable into their
component parts and for separately-traded components will be
aggregated. For example, if 120,000 shares of common stock are publicly
held after their separation from their units, and 210,000 intact and
freely separable units are publicly held, the common stock will be
credited with having 330,000 shares publicly held, enabling it to
satisfy one of the distribution standards for common stock, which
requires at least 200,000 shares of common stock to be publicly
held.\4\ If the units cease to exist or are no longer freely separable
and/or listed on the Exchange, the separately-traded components will
still be required to meet their applicable continued listing standards,
but the distribution values will not be aggregated.\5\
---------------------------------------------------------------------------
\4\ See Section 1003(b)(i)(A) of the Amex Company Guide.
\5\ See proposed Section 1003(g) of the Amex Company Guide. The
Commission notes that under proposed Section 1003(g), if in the
above example the units are no longer freely separable into common
stock, there would be no aggregation of units with the common stock
for purposes of evaluating whether the units and comment stock meet
the continued listing standards.
---------------------------------------------------------------------------
The Exchange will also consider suspending trading in, or removing
from listing, an individual component or unit if the distribution
values of such component or unit become so reduced as to make continued
listing inadvisable and despite the fact that the aggregated
distribution values satisfy the continued listing distribution
standards. In its review of the advisability of the continued listing
of an individual component or unit under such circumstances, the
Exchange proposes to take into account the trading characteristics of
the component or unit and whether it would be in the public interest
for trading in such component or unit to continue. The Exchange
believes that this proposal will enhance the transparency of its
continued listing standards.
The Exchange also proposes to make technical revisions to Sections
1003(a), (c), (d) and (f) in order to consistently use the term
``issuer'' as opposed to ``company.''
2. Statutory Basis
The proposed rule change is consistent with Section 6 of the
Act,\6\ in general, and furthers the objectives of Section 6(b)(5),\7\
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.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f.
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change would
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 did not receive any written comments on the proposed
rule change.
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 Amex 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.
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-2006-114 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-2006-114. 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 Exchange. All
[[Page 13542]]
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-2006-114 and should be
submitted on or before April 12, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-5205 Filed 3-21-07; 8:45 am]
BILLING CODE 8010-01-P
