Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of the Allocation and Performance Evaluation Procedures for Securities Admitted to Dealings on an Unlisted Basis, 18698-18700 [E7-7054]
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18698
Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices
information to a Floor Official. The
proposal would amend Amex Rule 950–
ANTE(a) (incorporating Rule 177 to
options) obligating the ABC, as well as
an options specialist, to report to a Floor
Official those activities and such
information as delineated in Amex Rule
177.
c. Implementation
Finally, to ensure a smooth and
orderly transition of the responsibility
for operating customer limit order book
and executing agency orders from
options specialists to ABCs, the
Exchange proposes to implement this
rule change to all applicable trading
posts over a 180-day period from the
effective date of this rule change. During
this 180-day transition period, any
options specialist who continues to
operate the customer limit order book
would continue to be subject to the
same agency obligations as currently
provided under Amex Rules 950–
ANTE(l) and 958A–ANTE(e), except
that, upon the approval of this proposal,
these prior obligations instead would be
reflected in a Regulatory Circular during
the 180-day transition period.
2. Statutory Basis
Amex believes the proposed rule
change is consistent with Section 6(b) of
the Act 15 in general and furthers the
objectives of Section 6(b)(5) of the Act 16
in particular in that it is designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, to foster
cooperation and coordination with
persons engaged in regulating, clearing,
settling, processing information with
respect to, and facilitating transactions
in securities, to remove impediments to
and perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest; and is
not designed to permit unfair
discrimination between customers,
issuers, brokers, or dealers, or to
regulate by virtue of any authority
conferred by the Act matters not related
to the purpose of the Act or the
administration of the Exchange.
pwalker on PROD1PC71 with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes that this
proposed rule change would not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
15 15
16 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
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C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
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 Exchange consents,
the Commission will:
(A) By order approve the proposed
rule change, or
(B) Institute proceedings to determine
whether the proposed rule change
should be disapproved.
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
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–2006–107 and
should be submitted on or before May
4, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.17
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–6960 Filed 4–12–07; 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 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–2006–107 on
the subject line.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55602; File No. SR–Amex–
2007–33]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change Relating to
the Extension of the Allocation and
Performance Evaluation Procedures
for Securities Admitted to Dealings on
an Unlisted Basis
April 9, 2007.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
• Send paper comments in triplicate
notice is hereby given that on April 3,
to Nancy M. Morris, Secretary,
2007, the American Stock Exchange LLC
Securities and Exchange Commission,
(the ‘‘Amex’’ or ‘‘Exchange’’), filed with
100 F Street, NE., Washington, DC
the Securities and Exchange
20549–1090.
Commission (‘‘Commission’’) the
All submissions should refer to File
proposed rule change as described in
Number SR–Amex–2006–107. This file
Items I and II below, which Items have
number should be included on the
been substantially prepared by
subject line if e-mail is used. To help the Exchange. The Exchange has designated
Commission process and review your
this proposal as non-controversial under
comments more efficiently, please use
Section 19(b)(3)(A)(iii) of the Act 4 and
only one method. The Commission will Rule 19b–4(f)(6) thereunder,5 which
post all comments on the Commission’s renders the proposed rule change
Internet Web site (https://www.sec.gov/
effective upon filing with the
rules/sro.shtml). Copies of the
Commission. The Commission is
submission, all subsequent
publishing this notice to solicit
amendments, all written statements
with respect to the proposed rule
17 17 CFR 200.30–3(a)(12).
change that are filed with the
1 15 U.S.C.78s(b)(1).
Commission, and all written
2 15 U.S.C. 78a.
communications relating to the
3 17 CFR 240.19b–4.
4 15 U.S.C. 78s(b)(3)(A)(iii).
proposed rule change between the
5 17 CFR 240.19b–4(f)(6).
Commission and any person, other than
Paper Comments
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Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Amex seeks a one year extension of its
allocations and performance evaluation
procedures for securities admitted to
dealings on an unlisted trading
privileges (‘‘UTP’’) basis to permit these
programs to remain in effect while the
Commission considers permanent
approval of these procedures.
The text of the proposed rule change
is available on the Amex’s Web site at
https://www.amex.com, 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
Exchange included statements
concerning the purpose of and basis for
the proposed rule changes and
discussed any comments it received
regarding the proposal. 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
pwalker on PROD1PC71 with NOTICES
The Exchange is proposing to extend
its allocations and performance
evaluation procedures for securities
admitted to dealings on an unlisted
trading privileges basis (the ‘‘Pilot
Program’’) from April 6, 2007 through
and including April 6, 2008. The text of
the rules shall remain unchanged. The
Commission previously approved, on a
pilot basis, the Exchange’s allocation
and performance evaluation procedures
for securities admitted to dealings on an
unlisted trading privileges basis through
two independent approval orders.6 In
2003, the Pilot Program was extended
through October 5, 2003 7 and April 5,
2004.8 In 2004, the Pilot Program was
6 See Securities Exchange Act Release No. 45698
(April 5, 2002); 67 FR 18051 (April 12, 2002) (SR–
Amex–2001–107) and 46750 (October 30, 2002), 67
FR 67880 (November 7, 2002) (SR–Amex–2002–19).
7 See Securities Exchange Act Release No. 47779
(May 1, 2003), 68 FR 24777 (May 8, 2003).
8 See Securities Exchange Act Release No. 48657
(October 17, 2003), 68 FR 61025 (October 24, 2003).
VerDate Aug<31>2005
17:52 Apr 12, 2007
Jkt 211001
extended through April 6, 2005.9 In
2005, the Pilot Program was extended
through April 6, 2006.10 In 2006, the
Pilot Program was extended through
April 6, 2007.11 The instant proposed
rule change makes no substantive
change to the Pilot Program other than
to extend it through and including April
6, 2008.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6 of the Act 12 in general and
furthers the objectives of Section
6(b)(5) 13 in particular in that it is
designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
facilitating transactions in securities,
and to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change will impose
no 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 on the proposed
rule change were neither solicited nor
received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the proposed rule change
does not: (1) Significantly affect the
protection of investors or the public
interest; (2) impose any significant
burden on competition; and (3) become
operative for 30 days after the date of
the filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, the proposed rule
change has become effective pursuant to
9 See Securities Exchange Act Release No. 49613
(April 26, 2004); 69 FR 24204 (May 3, 2004).
10 See Securities Exchange Act Release No. 52004
(July 8, 2005); 70 FR 41061 (July 15, 2005)
(retroactively reinstating the Pilot Program to April
6, 2005, and extending it through and including
April 6, 2006).
11 See Securities Exchange Act Release No. 53649
(April 13, 2006); 71 FR 20425 (April 20, 2006).
12 15 U.S.C. 78f.
13 15 U.S.C. 78f(b)(5).
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18699
Section 19(b)(3)(A) of the Act 14 and
Rule 19b–4(f)(6) thereunder.15
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.
A proposed rule change normally may
not become operative prior to 30 days
after the date of filing.16 However, Rule
19b–4(f)(6)(iii) 17 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 because the proposed rule
change would merely permit the
continuation of the Pilot Program in its
current form on an uninterrupted basis
through and including April 6, 2008.18
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send e-mail to rulecomments@sec.gov. Please include File
Number SR–Amex–2007–33 on the
subject line.
14 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
16 17 CFR 240.19b–4(f)(6)(iii). 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. On March 26,
2007, the Exchange provided such notice to the
Commission in the form of a draft version of the
proposed rule change. Despite providing such
notice to the Commission, the Exchange
subsequently requested that the Commission waive
the five-day prefiling requirement. The Exchange’s
request to waive the five-day prefiling requirement
is moot given that the Exchange has satisfied it by
submitting the draft version of the proposed rule
change.
17 17 CFR 240.19b–4(f)(6)(iii).
18 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s on efficiency, competition, and
capital formation. See 15 U.S.C. 78c(f).
15 17
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18700
Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on March 23,
• Send paper comments in triplicate
2007, the Chicago Stock Exchange, Inc.
to Nancy M. Morris, Secretary,
(‘‘CHX’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission,
Securities and Exchange Commission
100 F Street, NE., Washington, DC
(‘‘Commission’’) the proposed rule
20549–1090.
change as described in Items I, II, and
III below, which Items have been
All submissions should refer to File
substantially prepared by the Exchange.
Number SR–Amex–2007–33. This file
CHX has filed the proposal pursuant to
number should be included on the
subject line if e-mail is used. To help the Section 19(b)(3)(A) of the Act 3 and Rule
19b–4(f)(2) thereunder,4 which renders
Commission process and review your
the proposal effective upon filing with
comments more efficiently, please use
only one method. The Commission will the Commission. The Commission is
post all comments on the Commission’s publishing this notice to solicit
comments on the proposed rule change
Internet Web site (https://www.sec.gov/
from interested persons.
rules/sro.shtml). Copies of the
submission, all subsequent
I. Self-Regulatory Organization’s
amendments, all written statements
Statement of the Terms of Substance of
with respect to the proposed rule
the Proposed Rule Change
change that are filed with the
CHX proposes to amend its Fee
Commission, and all written
Schedule to confirm that it will not
communications relating to the
charge a fee or pay a credit in
proposed rule change between the
Commission and any person, other than connection with the execution, in the
Matching System, of a single-sided
those that may be withheld from the
order for 100 or more shares at a price
public in accordance with the
less than $1.00 per share. The text of the
provisions of 5 U.S.C. 552, will be
proposed rule change is available at
available for inspection and copying in
CHX, the Commission’s Public
the Commission’s Public Reference
Room. Copies of such filing also will be Reference Room, and https://
www.chx.com/rules/
available for inspection and copying at
proposed_rules.htm.
the principal office of the Amex. All
comments received will be posted
II. Self-Regulatory Organization’s
without change; the Commission does
Statement of the Purpose of, and
not edit personal identifying
Statutory Basis for, the Proposed Rule
information from submissions. You
Change
should submit only information that
In its filing with the Commission,
you wish to make available publicly. All CHX included statements concerning
submissions should refer to File
the purpose of and basis for the
Number SR–Amex–2007–33 and should proposed rule change and discussed any
be submitted by May 4, 2007.
comments it received on the proposed
For the Commission by the Division of
rule change. The text of these statements
Market Regulation, pursuant to delegated
may be examined at the places specified
authority.19
in Item IV below. CHX has prepared
Florence E. Harmon,
summaries, set forth in Sections A, B,
Deputy Secretary.
and C below, of the most significant
aspects of such statements.
[FR Doc. E7–7054 Filed 4–12–07; 8:45 am]
Paper Comments
BILLING CODE 8010–01–P
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55595; File No. SR–CHX–
2007–14]
pwalker on PROD1PC71 with NOTICES
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change Relating to
Participant Fees and Credits
April 6, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
19 17
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
17:52 Apr 12, 2007
Jkt 211001
1. Purpose
The Exchange proposes to amend its
Fee Schedule to confirm that it will not
charge a fee or pay a credit in
connection with the execution, in the
Matching System, of a single-sided
order for 100 or more shares at a price
less than $1.00 per share. This provision
is designed, in part, to confirm that the
Exchange will not charge a fee that is
greater than the maximum access fee set
out in Rule 610(c)(2) of Regulation
NMS.5 It also confirms that the
Exchange has determined that it would
not be appropriate to provide a credit in
connection with these no-cost
executions.
2. Statutory Basis
CHX believes that the proposed rule
change is consistent with the provisions
of Section 6 of the Act,6 in general, and
with Section 6(b)(4) of the Act,7 in
particular, in that the proposal provides
for the equitable allocation of reasonable
dues, fees, and other charges among its
members.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
No written comments were 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 8 and
subparagraph (f)(2) of Rule 19b–4
thereunder 9 because it establishes or
changes a due, fee, or other charge
applicable only to a member imposed by
the self-regulatory organization.
Accordingly, the proposal is effective
upon Commission receipt of the filing.
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:
5 See
17 CFR 242.610(c)(2).
U.S.C. 78f.
7 15 U.S.C. 78f(b)(4).
8 15 U.S.C. 78s(b)(3)(A)(ii).
9 17 CFR 240.19b–4(f)(2).
1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(2).
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6 15
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]]>Agencies
[Federal Register Volume 72, Number 71 (Friday, April 13, 2007)]
[Notices]
[Pages 18698-18700]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-7054]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55602; File No. SR-Amex-2007-33]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to the Extension of the Allocation and Performance Evaluation
Procedures for Securities Admitted to Dealings on an Unlisted Basis
April 9, 2007.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on April 3, 2007, the American Stock Exchange LLC (the
``Amex'' or ``Exchange''), filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I and II below, which Items have been substantially prepared by
Exchange. The Exchange has designated this proposal as non-
controversial under Section 19(b)(3)(A)(iii) of the Act \4\ and Rule
19b-4(f)(6) thereunder,\5\ which renders the proposed rule change
effective upon filing with the Commission. The Commission is publishing
this notice to solicit
[[Page 18699]]
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C.78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
\4\ 15 U.S.C. 78s(b)(3)(A)(iii).
\5\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Amex seeks a one year extension of its allocations and performance
evaluation procedures for securities admitted to dealings on an
unlisted trading privileges (``UTP'') basis to permit these programs to
remain in effect while the Commission considers permanent approval of
these procedures.
The text of the proposed rule change is available on the Amex's Web
site at https://www.amex.com, 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 Exchange included statements
concerning the purpose of and basis for the proposed rule changes and
discussed any comments it received regarding the proposal. 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
The Exchange is proposing to extend its allocations and performance
evaluation procedures for securities admitted to dealings on an
unlisted trading privileges basis (the ``Pilot Program'') from April 6,
2007 through and including April 6, 2008. The text of the rules shall
remain unchanged. The Commission previously approved, on a pilot basis,
the Exchange's allocation and performance evaluation procedures for
securities admitted to dealings on an unlisted trading privileges basis
through two independent approval orders.\6\ In 2003, the Pilot Program
was extended through October 5, 2003 \7\ and April 5, 2004.\8\ In 2004,
the Pilot Program was extended through April 6, 2005.\9\ In 2005, the
Pilot Program was extended through April 6, 2006.\10\ In 2006, the
Pilot Program was extended through April 6, 2007.\11\ The instant
proposed rule change makes no substantive change to the Pilot Program
other than to extend it through and including April 6, 2008.
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 45698 (April 5,
2002); 67 FR 18051 (April 12, 2002) (SR-Amex-2001-107) and 46750
(October 30, 2002), 67 FR 67880 (November 7, 2002) (SR-Amex-2002-
19).
\7\ See Securities Exchange Act Release No. 47779 (May 1, 2003),
68 FR 24777 (May 8, 2003).
\8\ See Securities Exchange Act Release No. 48657 (October 17,
2003), 68 FR 61025 (October 24, 2003).
\9\ See Securities Exchange Act Release No. 49613 (April 26,
2004); 69 FR 24204 (May 3, 2004).
\10\ See Securities Exchange Act Release No. 52004 (July 8,
2005); 70 FR 41061 (July 15, 2005) (retroactively reinstating the
Pilot Program to April 6, 2005, and extending it through and
including April 6, 2006).
\11\ See Securities Exchange Act Release No. 53649 (April 13,
2006); 71 FR 20425 (April 20, 2006).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6 of the Act \12\ in general and furthers the objectives
of Section 6(b)(5) \13\ in particular in that it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system.
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78f.
\13\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change will impose no 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 on the proposed rule change were neither solicited
nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the proposed rule change does not: (1) Significantly affect
the protection of investors or the public interest; (2) impose any
significant burden on competition; and (3) become operative for 30 days
after the date of the filing, or such shorter time as the Commission
may designate if consistent with the protection of investors and the
public interest, the proposed rule change has become effective pursuant
to Section 19(b)(3)(A) of the Act \14\ and Rule 19b-4(f)(6)
thereunder.\15\
---------------------------------------------------------------------------
\14\ 15 U.S.C. 78s(b)(3)(A).
\15\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
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.
A proposed rule change normally may not become operative prior to
30 days after the date of filing.\16\ However, Rule 19b-4(f)(6)(iii)
\17\ 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 because the proposed rule change would merely permit
the continuation of the Pilot Program in its current form on an
uninterrupted basis through and including April 6, 2008.\18\
---------------------------------------------------------------------------
\16\ 17 CFR 240.19b-4(f)(6)(iii). 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. On
March 26, 2007, the Exchange provided such notice to the Commission
in the form of a draft version of the proposed rule change. Despite
providing such notice to the Commission, the Exchange subsequently
requested that the Commission waive the five-day prefiling
requirement. The Exchange's request to waive the five-day prefiling
requirement is moot given that the Exchange has satisfied it by
submitting the draft version of the proposed rule change.
\17\ 17 CFR 240.19b-4(f)(6)(iii).
\18\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's on efficiency,
competition, and capital formation. See 15 U.S.C. 78c(f).
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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 e-mail to rule-comments@sec.gov. Please include File
Number SR-Amex-2007-33 on the subject line.
[[Page 18700]]
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-2007-33. 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 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-2007-33 and should be submitted by May 4, 2007.
For the Commission by the Division of Market Regulation,
pursuant to delegated authority.\19\
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\19\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-7054 Filed 4-12-07; 8:45 am]
BILLING CODE 8010-01-P
