Technical Amendments to Form BD and Form BDW, 20223-20225 [E7-7746]
Download as PDF
<![CDATA[
Federal Register / Vol. 72, No. 78 / Tuesday April 24, 2007 / Rules and Regulations
901–911, Pub. L. 106–387; Sec. 221, Pub. L.
107–56; Sec 1503, Pub.L. 108–11,117 Stat.
559; E.O. 12058, 43 FR 20947, 3 CFR, 1978
Comp., p. 179; E.O. 12851, 58 FR 33181, 3
CFR, 1993 Comp., p. 608; E.O. 12938, 59 FR
59099, 3 CFR, 1994 Comp., p. 950; E.O.
13026, 61 FR 58767, 3 CFR, 1996 Comp., p.
228; E.O. 13222, 66 FR 44025, 3 CFR, 2001
Comp., p. 783; Presidential Determination
2003–23 of May 7, 2003, 68 FR 26459, May
16, 2003; Notice of August 3, 2006, 71 FR
44551 (August 7, 2006); Notice of October 27,
2006, 71 FR 64109 (October 31, 2006).
6. Supplement No. 2 to part 742, AntiTerrorism Controls: Iran, Libya, North
Korea, Syria and Sudan Contract
Sanctity Dates and Related Policies, is
amended:
I a. By revising the heading as set forth
below;
I b. By revising the first sentence of
paragraph (c)(27), to read as follows:
I
Supplement No. 2 to Part 742—AntiTerrorism Controls: Iran, North Korea,
Syria and Sudan Contract Sanctity
Dates and Related Policies
*
*
*
*
(27) Semiconductor manufacturing
equipment. For Iran, Syria, Sudan, or North
Korea, a license is required for all such
equipment described in ECCNs 3B001 and
3B991.
*
*
*
*
*
PART 746—[AMENDED]
7. The authority citation for 15 CFR
part 746 continues to read as follows:
I
Authority: 50 U.S.C. app. 2401 et seq.; 50
U.S.C. 1701 et seq.; 22 U.S.C. 287c; Sec 1503,
Pub. L. 108–11,117 Stat. 559; 22 U.S.C. 6004;
Sec. 901–911, Pub. L. 106–387; Sec. 221, Pub.
L. 107–56; E.O. 12854, 58 FR 36587, 3 CFR
1993 Comp., p. 614; E.O. 12918, 59 FR 28205,
3 CFR, 1994 Comp., p. 899; E.O. 13222, 3
CFR, 2001 Comp., p. 783; Presidential
Determination 2003–23 of May 7, 2003, 68
FR 26459, May 16, 2003; Notice of August 3,
2006, 71 FR 44551 (August 7, 2006);
Presidential Determination 2007–7 of
December 7, 2006, 72 FR 1899, January 16,
2007.
§ 746.4
[Amended]
8. In paragraph (a) of § 746.4, correct
the phrase ‘‘as EAR99 (definitions in
part 772 of the EAR.’’ to read ‘‘as EAR99
(definitions in part 772 of the EAR).’’.
I 9. In Supplement No. 1 to part 746Examples of Luxury Goods, amend the
introductory text to read as follows:
I
ycherry on PROD1PC64 with RULES
SECURITIES AND EXCHANGE
COMMISSION
12. The authority citation for 15 CFR
part 774 continues to read as follows:
I
Authority: 50 U.S.C. app. 2401 et seq.; 50
U.S.C. 1701 et seq.; 10 U.S.C. 7420; 10 U.S.C.
7420; 10 U.S.C. 7430(e); 18 U.S.C. 2510 et
seq.; 22 U.S.C. 287c, 22 U.S.C. 3201 et seq.,
22 U.S.C. 6004; 30 U.S.C. 185(s), 185(u); 42
U.S.C. 2139a; 42 U.S.C. 6212; 43 U.S.C. 1354;
46 U.S.C. app. 466c; 50 U.S.C. app. 5; Sec.
901–911, Pub. L. 106–387; Sec. 221, Pub. L.
107–56; E.O. 13026, 61 FR 58767, 3 CFR,
1996 Comp., p. 228; E.O. 13222, 66 FR 44025,
3 CFR, 2001 Comp., p. 783; Notice of August
3, 2006, 71 FR 44551 (August 7, 2006).
Supplement No. 1 to Part 774—The
Commerce Control List—[Amended]
13. In Supplement No. 1 to part 774,
Category 0—‘‘Nuclear Materials,
Facilities, and Equipment [and
Miscellaneous Items]’’ is amended by
revising the ‘‘License Requirements’’
section of ECCN 0A988 to read as
follows:
I
0A988 Conventional military steel helmets
as described by 0A018.d.1; and machetes.
(c) * * *
*
PART 774—[AMENDED]
Supplement No. 1 to Part 746—
Examples of Luxury Goods
License Requirements
Reason for Control: UN.
Control(s): UN applies to entire entry. A
license is required for conventional military
steel helmets as described by 0A018.d.1 and
for machetes to Iraq, North Korea, and
Rwanda. The Commerce Country Chart is not
designed to determine licensing requirements
for this entry. See part 746 of the EAR for
additional information.
*
*
*
*
*
14. In Supplement No. 1 to part 774,
Category 3—‘‘Electronics’’ is amended
by revising the ‘‘License Requirements
Notes’’ section of 3A991 to read as
follows:
I
3A991 Electronic devices and components
not controlled by 3A001.
*
*
*
*
*
License Requirements Notes: See 744.17 of
the EAR for additional license requirements
for commodities classified as 3A991.a.1.
*
*
*
*
I 15. In Supplement No. 1 to part 774
(the Commerce Control List), Category
5—Telecommunications, ECCN 5A980
is amended by revising the Heading to
read as follows:
5A980 Devices primarily useful for the
surreptitious interception of wire, oral, or
electronic communications; and parts and
accessories therefor.
*
*
*
*
*
The following further amplifies the
illustrative list of luxury goods set forth in
§ 746.4(b)(1):
*
BILLING CODE 3510–33–P
*
VerDate Aug<31>2005
*
*
17:55 Apr 23, 2007
Jkt 211001
17 CFR Part 249
[Release No. 34–55643]
Technical Amendments to Form BD
and Form BDW
Securities and Exchange
Commission.
ACTION: Final rule; technical
amendments.
AGENCY:
SUMMARY: The Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’)
is making technical amendments to
Form BD and Form BDW, the uniform
broker-dealer registration form and the
uniform request for withdrawal from
broker-dealer registration, respectively.
The technical amendments will update
the current list of self-regulatory
organizations (‘‘SROs’’) and government
jurisdictions listed on Form BD and
Form BDW, and make conforming
changes to the definition ‘‘jurisdiction’’
in the forms.
DATES: Effective Date: April 23, 2007.
FOR FURTHER INFORMATION CONTACT:
Paula Jenson, Deputy Chief Counsel, or
Haimera Workie, Branch Chief, at (202)
551–5550, Office of the Chief Counsel,
Division of Market Regulation,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549.
SUPPLEMENTARY INFORMATION: Form BD
requires an applicant or registrant to
indicate the SRO and governmental
jurisdiction with which it is registering
or registered. For a ‘‘partial
withdrawal,’’ 1 Form BDW requires the
applicant to specify the SRO and
governmental jurisdiction from which it
is withdrawing.2 The Commission is
making technical amendments to Item 2
of Form BD and Item 3 of Form BDW
to update the list of governmental
jurisdictions to include the United
States Virgin Islands, and to update the
*
Dated: April 18, 2007.
Eileen Albanese,
Director, Office of Exporter Services.
[FR Doc. E7–7730 Filed 4–23–07; 8:45 am]
*
20223
PO 00000
Frm 00003
Fmt 4700
Sfmt 4700
1 A ‘‘full withdrawal’’ terminates registration with
the SEC, all SROs, and all jurisdictions. However,
a ‘‘partial withdrawal’’ terminates registration with
specific jurisdictions and SROs, but does not
terminate registration with the SEC and at least one
SRO and jurisdiction.
2 Section 15(b) of the Securities Exchange Act of
1934 (‘‘Exchange Act’’) provides that broker-dealers
can register and withdraw from registration under
procedures developed by the Commission.
Exchange Act Rule 15b1–1 requires that an
application for registration of a broker or dealer that
is filed pursuant to Section 15(b) of the Exchange
Act be filed on Form BD in accordance with the
instructions on the form. Exchange Act Rule 15b6–
1 requires that a notice of withdrawal from
registration as a broker or dealer filed pursuant to
Section 15(b) of the Exchange Act be filed on Form
BDW in accordance with the instructions on the
form.
E:\FR\FM\24APR1.SGM
24APR1
20224
Federal Register / Vol. 72, No. 78 / Tuesday April 24, 2007 / Rules and Regulations
list of SROs to include The NASDAQ
Stock Market LLC and the International
Securities Exchange, LLC, as well as to
reflect the name change of The
Cincinnati Stock Exchange, Inc. to
National Stock Exchange, Inc.3 and the
name change of the Pacific Exchange,
Inc. to NYSE Arca, Inc.4 In addition, we
are making conforming changes to the
definition of ‘‘jurisdiction’’ to include
the United States Virgin Islands.
‘‘Jurisdiction’’ will be defined as: ‘‘A
state, the District of Columbia, the
Commonwealth of Puerto Rico, the U.S.
Virgin Islands, or any subdivision or
regulatory body thereof.’’
I. Certain Findings
Under the Administrative Procedure
Act (‘‘APA’’), notice of proposed
rulemaking is not required when the
agency, for good cause, finds ‘‘that
notice and public procedure thereon are
impracticable, unnecessary, or contrary
to the public interest.’’ 5 The
Commission is making technical
amendments to Item 2 of Form BD and
Item 3 of Form BDW in light of the
formation of or name changes to SROs
and in light of new requirements for
broker-dealer registration in the United
States Virgin Islands.6 The Commission
is also making conforming amendments
to the definition of ‘‘jurisdiction’’ to
include the United States Virgin Islands.
These technical amendments will
update the currently out-of-date list of
SROs and government jurisdictions
contained in Form BD and Form BDW,
as well as provide related changes to the
definition of ‘‘jurisdiction’’ in the forms.
The Commission, therefore, finds that
publishing the amendments for
comment is unnecessary.7
Publication of a substantive rule not
less than 30 days before its effective
date is required by the APA except as
otherwise provided by the agency for
good cause.8 For the same reasons
described above with respect to notice
b
AMEX
S
R
O
ycherry on PROD1PC64 with RULES
J
U
R
b
BSE
b Alabama
b Alaska
b Arizona
b
CBOE
17:55 Apr 23, 2007
II. Consideration of Promotion of
Efficiency, Competition, and Capital
Formation
Section 3(f) of the Exchange Act,9
provides that whenever the Commission
is engaged in rulemaking and is
required to consider or determine
whether an action is necessary or
appropriate in the public interest, the
Commission shall consider, in addition
to the protection of investors, whether
the action will promote efficiency,
competition, and capital formation. In
addition, Section 23(a)(2) of the
Exchange Act requires the Commission,
in adopting rules under the Exchange
Act, to consider the anticompetitive
effects of such rules, if any, and to
refrain from adopting a rule that would
impose a burden on competition not
necessarily or appropriate in
furtherance of the purposes of the
Exchange Act.10
Because the amendments are limited
to technical amendments, we do not
anticipate that any competitive
advantages or disadvantages would be
created. We do not expect the
amendments, as technical amendments,
to have a significant effect on efficiency,
or on capital formation or the capital
markets resulting from any obligations
imposed by the Commission. As
previously noted, however, there will be
some increased efficiency in the
administration of the United States
Virgin Islands regulations because
adding the United States Virgin Islands
to the list of jurisdictions will facilitate
the use of these forms by broker-dealers
doing business in that jurisdiction and
will eliminate the need for separate
paper filings of registration forms by
these broker-dealers.
b
CHX
b Hawaii
b Idaho
b Illinois
Jkt 211001
b
NSX
b
NASD
b
NQX
b Michigan
b Minnesota
b Mississippi
3 Exchange Act Rel. No. 48774 (November 12,
2003), 68 FR 65332 (November 19, 2003).
4 Exchange Act Rel. No. 53615 (April 7, 2006), 71
FR 19226 (April 13, 2006).
5 5 U.S.C. 553(b).
6 The United States Virgin Islands Uniform
Securities Act of 2004 (‘‘Uniform Securities Act’’)
became effective on February 12, 2005. See 9 V.I.
CODE ANN. §§ 601–672 (2004). The Uniform
Securities Act requires registration by brokerdealers. See 9 V.I CODE ANN. § 631. Prior to the
enactment of the Uniform Securities Act, the United
States Virgin Islands did not have regulations that
VerDate Aug<31>2005
and opportunity for comment, the
Commission finds that there is good
cause for making these technical
amendments effective on April 23, 2007.
Frm 00004
Fmt 4700
Sfmt 4700
We are adopting the technical
amendments to Forms BD and BDW
under the authority set forth in the
Exchange Act and, in particular,
Sections 15(a), 15(b), 17(a), and 23(a)
therein.11
Text of Form Amendments
List of Subjects in 17 CFR Part 249
Broker-dealers, Reporting and
recordkeeping requirements, Securities.
For the reasons set out in the
preamble, 17 CFR part 249 is amended
as follows:
I
PART 249—FORMS, SECURITIES
EXCHANGE ACT OF 1934
1. The authority citation for Part 249
continues to read in part as follows:
I
Authority: 15 U.S.C. 78a, et seq. and 7201
et seq.; and 18 U.S.C. 1350, unless otherwise
noted.
*
*
§ 249.501
*
*
*
[Amended]
2. Form BD (referenced in § 249.501)
is amended by:
I a. In the Explanation of Terms, 1.
General section, revising
‘‘JURISDICTION—A state, the District of
Columbia, the Commonwealth of Puerto
Rico, or any subdivision or regulatory
body thereof.’’ to read
‘‘JURISDICTION—A state, the District of
Columbia, the Commonwealth of Puerto
Rico, the U.S. Virgin Islands, or any
subdivision or regulatory body
thereof.’’; and
I b. In Item 2, revising the SRO and
Jurisdiction tables.
The revision reads as follows:
Form BD
*
*
*
*
*
2. * * *
I
b
NYSE
b
PHLX
b North Carolina
b North Dakota
b Ohio
addressed broker-dealer registration and therefore it
was not included as a jurisdiction on Form BD and
Form BDW. Adding the United States Virgin Islands
onto the list of jurisdictions would facilitate the use
of these forms by broker-dealers and would
eliminate the need for separate paper filings of
registration forms by broker-dealers in the United
States Virgin Islands.
7 For similar reasons, the amendments do not
require analysis under the Regulatory Flexibility
Act or analysis of major rule status under the Small
Business Regulatory Enforcement Fairness Act. See
5 U.S.C. 601(2) (for purposes of Regulatory
PO 00000
III. Statutory Authority
b
ARCA
b
ISE
blll
OTHER
(specify)
b Texas
b Utah
b Vermont
Flexibility Act analyses, the term ‘‘rule’’ means any
rule for which the agency publishes a general notice
of proposed rulemaking); 5 U.S.C. 804(3)(C) (for
purposes of Congressional review of agency
rulemaking, the term ‘‘rule’’ does not include any
rule of agency organization, procedure, or practice
that does not substantially affect the rights or
obligations of non-agency parties).
8 5 U.S.C. 553(d).
9 15 U.S.C. 78c(f).
10 15 U.S.C. 78w(a)(2).
11 15 U.S.C. 78o(a), 78o(b), 78q(a), and 78w(a).
E:\FR\FM\24APR1.SGM
24APR1
20225
Federal Register / Vol. 72, No. 78 / Tuesday April 24, 2007 / Rules and Regulations
b
b
b
b
b
b
b
b
I
S
D
I
C
T
I
O
N
b
b
b
b
b
b
b
b
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
*
*
*
*
*
3. Form BDW (referenced in
§ 249.501a) is amended by:
I a. In the Explanation of Terms section,
revising ‘‘The term JURISDICTION
means a state, the District of Columbia,
the Commonwealth of Puerto Rico, or
I
b
AMEX
S
R
O
J
U
R
I
S
D
I
C
T
I
O
N
b
b
b
b
b
b
b
b
b
b
b
*
*
b
BSE
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
*
*
b
b
b
b
b
b
b
b
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
b
CBOE
b
b
b
b
b
b
b
b
b
b
b
b
b
b
b
b
b
b
b
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
Oklahoma
Oregon
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
any subdivision or regulatory body
thereof.’’ to read ‘‘The term
JURISDICTION means a state, the
District of Columbia, the
Commonwealth of Puerto Rico, the U.S.
Virgin Islands, or any subdivision or
regulatory body thereof.’’; and
b
CHX
b
NSX
b
b
b
b
b
b
b
b
b
b
b
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
b
NASD
b
NQX
BILLING CODE 8010–01–P
This rule is effective May 24,
2007. The classification was effective
January 30, 2007.
FOR FURTHER INFORMATION CONTACT:
Glenn Bell, Center for Devices and
Radiological Health (HFZ–470), Food
and Drug Administration, 9200
Corporate Blvd., Rockville, MD 20850,
240–276–4100.
SUPPLEMENTARY INFORMATION:
DATES:
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Food and Drug Administration
21 CFR Part 884
[Docket No. 2007N–0120]
Medical Devices; Obstetrical and
Gynecological Devices; Classification
of Computerized Labor Monitoring
System
AGENCY:
Food and Drug Administration,
HHS.
ycherry on PROD1PC64 with RULES
ACTION:
Final rule.
SUMMARY: The Food and Drug
Administration (FDA) is classifying the
computerized labor monitoring systems
into class II (special controls).
Elsewhere in this issue of the Federal
Register, FDA is announcing the
availability of a guidance document
entitled, ‘‘Guidance for Industry and
FDA Staff; Class II Special Controls
VerDate Aug<31>2005
17:55 Apr 23, 2007
Jkt 211001
I. What is The Background Of This
Rulemaking?
In accordance with section 513(f)(1) of
the Federal Food, Drug, and Cosmetic
Act (the act) (21 U.S.C. 360c(f)(1)),
devices that were not in commercial
distribution before May 28, 1976, the
date of enactment of the Medical Device
Amendments of 1976 (the amendments),
generally referred to as postamendments
devices, are classified automatically by
statute into class III without any FDA
rulemaking process. These devices
remain in class III and require
premarket approval, unless the device is
PO 00000
Frm 00005
Fmt 4700
Sfmt 4700
b. In Item 3, revising the SRO and
Jurisdiction tables.
The revision reads as follows:
Form BDW
*
*
*
*
*
3. * * *
b
PHLX
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Guidance Document: Computerized
Labor Monitoring Systems,’’ which will
serve as the special controls for these
devices. The agency is classifying these
devices into class II (special controls) in
order to provide a reasonable assurance
of safety and effectiveness of these
devices.
*
By the Commission.
Dated: April 19, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–7746 Filed 4–23–07; 8:45 am]
Virgin Islands
Virginia
Washington
West Virginia
Wisconsin
Wyoming
I
b
NYSE
b
b
b
b
b
b
b
b
b
b
b
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
b
b
b
b
b
b
b
ARCA
b
b
b
b
b
b
b
b
b
b
ISE
blll
OTHER
(specify)
Texas
Utah
Vermont
Virgin Islands
Virginia
Washington
West Virginia
Wisconsin
Wyoming
classified or reclassified into class I or
class II, or FDA issues an order finding
the device to be substantially
equivalent, in accordance with section
513(i) of the act, to a predicate device
that does not require premarket
approval. The agency determines
whether new devices are substantially
equivalent to predicate devices by
means of premarket notification
procedures in section 510(k) of the act
(21 U.S.C. 360(k)) and part 807 (21 CFR
part 807) of FDA’s regulations.
Section 513(f)(2) of the act provides
that any person who submits a
premarket notification under section
510(k) of the act for a device that has not
previously been classified may, within
30 days after receiving an order
classifying the device in class III under
section 513(f)(1) of the act, request FDA
to classify the device under the criteria
set forth in section 513(a)(1) of the act.
FDA shall, within 60 days of receiving
such a request, classify the device by
written order. This classification shall
be the initial classification of the device
type. Within 30 days after the issuance
of an order classifying the device, FDA
must publish a notice in the Federal
Register announcing such classification
(section 513(f)(2) of the act).
In accordance with section 513(f)(1) of
the act, FDA issued an order on October
5, 2006, classifying the Computerized
E:\FR\FM\24APR1.SGM
24APR1
]]>Agencies
[Federal Register Volume 72, Number 78 (Tuesday, April 24, 2007)]
[Rules and Regulations]
[Pages 20223-20225]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-7746]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 249
[Release No. 34-55643]
Technical Amendments to Form BD and Form BDW
AGENCY: Securities and Exchange Commission.
ACTION: Final rule; technical amendments.
-----------------------------------------------------------------------
SUMMARY: The Securities and Exchange Commission (``Commission'' or
``SEC'') is making technical amendments to Form BD and Form BDW, the
uniform broker-dealer registration form and the uniform request for
withdrawal from broker-dealer registration, respectively. The technical
amendments will update the current list of self-regulatory
organizations (``SROs'') and government jurisdictions listed on Form BD
and Form BDW, and make conforming changes to the definition
``jurisdiction'' in the forms.
DATES: Effective Date: April 23, 2007.
FOR FURTHER INFORMATION CONTACT: Paula Jenson, Deputy Chief Counsel, or
Haimera Workie, Branch Chief, at (202) 551-5550, Office of the Chief
Counsel, Division of Market Regulation, Securities and Exchange
Commission, 100 F Street, NE., Washington, DC 20549.
SUPPLEMENTARY INFORMATION: Form BD requires an applicant or registrant
to indicate the SRO and governmental jurisdiction with which it is
registering or registered. For a ``partial withdrawal,'' \1\ Form BDW
requires the applicant to specify the SRO and governmental jurisdiction
from which it is withdrawing.\2\ The Commission is making technical
amendments to Item 2 of Form BD and Item 3 of Form BDW to update the
list of governmental jurisdictions to include the United States Virgin
Islands, and to update the
[[Page 20224]]
list of SROs to include The NASDAQ Stock Market LLC and the
International Securities Exchange, LLC, as well as to reflect the name
change of The Cincinnati Stock Exchange, Inc. to National Stock
Exchange, Inc.\3\ and the name change of the Pacific Exchange, Inc. to
NYSE Arca, Inc.\4\ In addition, we are making conforming changes to the
definition of ``jurisdiction'' to include the United States Virgin
Islands. ``Jurisdiction'' will be defined as: ``A state, the District
of Columbia, the Commonwealth of Puerto Rico, the U.S. Virgin Islands,
or any subdivision or regulatory body thereof.''
---------------------------------------------------------------------------
\1\ A ``full withdrawal'' terminates registration with the SEC,
all SROs, and all jurisdictions. However, a ``partial withdrawal''
terminates registration with specific jurisdictions and SROs, but
does not terminate registration with the SEC and at least one SRO
and jurisdiction.
\2\ Section 15(b) of the Securities Exchange Act of 1934
(``Exchange Act'') provides that broker-dealers can register and
withdraw from registration under procedures developed by the
Commission. Exchange Act Rule 15b1-1 requires that an application
for registration of a broker or dealer that is filed pursuant to
Section 15(b) of the Exchange Act be filed on Form BD in accordance
with the instructions on the form. Exchange Act Rule 15b6-1 requires
that a notice of withdrawal from registration as a broker or dealer
filed pursuant to Section 15(b) of the Exchange Act be filed on Form
BDW in accordance with the instructions on the form.
\3\ Exchange Act Rel. No. 48774 (November 12, 2003), 68 FR 65332
(November 19, 2003).
\4\ Exchange Act Rel. No. 53615 (April 7, 2006), 71 FR 19226
(April 13, 2006).
---------------------------------------------------------------------------
I. Certain Findings
Under the Administrative Procedure Act (``APA''), notice of
proposed rulemaking is not required when the agency, for good cause,
finds ``that notice and public procedure thereon are impracticable,
unnecessary, or contrary to the public interest.'' \5\ The Commission
is making technical amendments to Item 2 of Form BD and Item 3 of Form
BDW in light of the formation of or name changes to SROs and in light
of new requirements for broker-dealer registration in the United States
Virgin Islands.\6\ The Commission is also making conforming amendments
to the definition of ``jurisdiction'' to include the United States
Virgin Islands. These technical amendments will update the currently
out-of-date list of SROs and government jurisdictions contained in Form
BD and Form BDW, as well as provide related changes to the definition
of ``jurisdiction'' in the forms. The Commission, therefore, finds that
publishing the amendments for comment is unnecessary.\7\
---------------------------------------------------------------------------
\5\ 5 U.S.C. 553(b).
\6\ The United States Virgin Islands Uniform Securities Act of
2004 (``Uniform Securities Act'') became effective on February 12,
2005. See 9 V.I. CODE ANN. Sec. Sec. 601-672 (2004). The Uniform
Securities Act requires registration by broker-dealers. See 9 V.I
CODE ANN. Sec. 631. Prior to the enactment of the Uniform
Securities Act, the United States Virgin Islands did not have
regulations that addressed broker-dealer registration and therefore
it was not included as a jurisdiction on Form BD and Form BDW.
Adding the United States Virgin Islands onto the list of
jurisdictions would facilitate the use of these forms by broker-
dealers and would eliminate the need for separate paper filings of
registration forms by broker-dealers in the United States Virgin
Islands.
\7\ For similar reasons, the amendments do not require analysis
under the Regulatory Flexibility Act or analysis of major rule
status under the Small Business Regulatory Enforcement Fairness Act.
See 5 U.S.C. 601(2) (for purposes of Regulatory Flexibility Act
analyses, the term ``rule'' means any rule for which the agency
publishes a general notice of proposed rulemaking); 5 U.S.C.
804(3)(C) (for purposes of Congressional review of agency
rulemaking, the term ``rule'' does not include any rule of agency
organization, procedure, or practice that does not substantially
affect the rights or obligations of non-agency parties).
---------------------------------------------------------------------------
Publication of a substantive rule not less than 30 days before its
effective date is required by the APA except as otherwise provided by
the agency for good cause.\8\ For the same reasons described above with
respect to notice and opportunity for comment, the Commission finds
that there is good cause for making these technical amendments
effective on April 23, 2007.
---------------------------------------------------------------------------
\8\ 5 U.S.C. 553(d).
---------------------------------------------------------------------------
II. Consideration of Promotion of Efficiency, Competition, and Capital
Formation
Section 3(f) of the Exchange Act,\9\ provides that whenever the
Commission is engaged in rulemaking and is required to consider or
determine whether an action is necessary or appropriate in the public
interest, the Commission shall consider, in addition to the protection
of investors, whether the action will promote efficiency, competition,
and capital formation. In addition, Section 23(a)(2) of the Exchange
Act requires the Commission, in adopting rules under the Exchange Act,
to consider the anticompetitive effects of such rules, if any, and to
refrain from adopting a rule that would impose a burden on competition
not necessarily or appropriate in furtherance of the purposes of the
Exchange Act.\10\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78c(f).
\10\ 15 U.S.C. 78w(a)(2).
---------------------------------------------------------------------------
Because the amendments are limited to technical amendments, we do
not anticipate that any competitive advantages or disadvantages would
be created. We do not expect the amendments, as technical amendments,
to have a significant effect on efficiency, or on capital formation or
the capital markets resulting from any obligations imposed by the
Commission. As previously noted, however, there will be some increased
efficiency in the administration of the United States Virgin Islands
regulations because adding the United States Virgin Islands to the list
of jurisdictions will facilitate the use of these forms by broker-
dealers doing business in that jurisdiction and will eliminate the need
for separate paper filings of registration forms by these broker-
dealers.
III. Statutory Authority
We are adopting the technical amendments to Forms BD and BDW under
the authority set forth in the Exchange Act and, in particular,
Sections 15(a), 15(b), 17(a), and 23(a) therein.\11\
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78o(a), 78o(b), 78q(a), and 78w(a).
---------------------------------------------------------------------------
Text of Form Amendments
List of Subjects in 17 CFR Part 249
Broker-dealers, Reporting and recordkeeping requirements,
Securities.
0
For the reasons set out in the preamble, 17 CFR part 249 is amended as
follows:
PART 249--FORMS, SECURITIES EXCHANGE ACT OF 1934
0
1. The authority citation for Part 249 continues to read in part as
follows:
Authority: 15 U.S.C. 78a, et seq. and 7201 et seq.; and 18
U.S.C. 1350, unless otherwise noted.
* * * * *
Sec. 249.501 [Amended]
0
2. Form BD (referenced in Sec. 249.501) is amended by:
0
a. In the Explanation of Terms, 1. General section, revising
``JURISDICTION--A state, the District of Columbia, the Commonwealth of
Puerto Rico, or any subdivision or regulatory body thereof.'' to read
``JURISDICTION--A state, the District of Columbia, the Commonwealth of
Puerto Rico, the U.S. Virgin Islands, or any subdivision or regulatory
body thereof.''; and
0
b. In Item 2, revising the SRO and Jurisdiction tables.
The revision reads as follows:
Form BD
* * * * *
2. * * *
----------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
S [ballot [ballot [ballot [ballot [ballot [ballot [ballot [ballot [ballot [ballo [ballo [ballo
] ] ] ] ] ] ] ] ] t] t] t]---
---
R AMEX BSE CBOE CHX NSX NASD NQX NYSE PHLX ARCA ISE OTHER
O (speci
fy)
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
J [ballot] Alabama [ballot] Hawaii [ballot] Michigan [ballot] North [ballot] Texas
Carolina
U [ballot] Alaska [ballot] Idaho [ballot] Minnesota [ballot] North [ballot] Utah
Dakota
R [ballot] Arizona [ballot] Illinois [ballot] [ballot] Ohio [ballot] Vermont
Mississippi
[[Page 20225]]
I [ballot] Arkansas [ballot] Indiana [ballot] Missouri [ballot] Oklahoma [ballot] Virgin
Islands
S [ballot] California [ballot] Iowa [ballot] Montana [ballot] Oregon [ballot] Virginia
D [ballot] Colorado [ballot] Kansas [ballot] Nebraska [ballot] [ballot] Washington
Pennsylvania
I [ballot] [ballot] Kentucky [ballot] Nevada [ballot] Puerto [ballot] West
Connecticut Rico Virginia
C [ballot] Delaware [ballot] Louisiana [ballot] New [ballot] Rhode [ballot] Wisconsin
Hampshire Island
T [ballot] District [ballot] Maine [ballot] New Jersey [ballot] South [ballot] Wyoming
of Columbia Carolina
I [ballot] Florida [ballot] Maryland [ballot] New Mexico [ballot] South
Dakota
O [ballot] Georgia [ballot] [ballot] New York [ballot] Tennessee
Massachusetts
N
----------------------------------------------------------------------------------------------------------------
* * * * *
0
3. Form BDW (referenced in Sec. 249.501a) is amended by:
0
a. In the Explanation of Terms section, revising ``The term
JURISDICTION means a state, the District of Columbia, the Commonwealth
of Puerto Rico, or any subdivision or regulatory body thereof.'' to
read ``The term JURISDICTION means a state, the District of Columbia,
the Commonwealth of Puerto Rico, the U.S. Virgin Islands, or any
subdivision or regulatory body thereof.''; and
0
b. In Item 3, revising the SRO and Jurisdiction tables.
The revision reads as follows:
Form BDW
* * * * *
3. * * *
----------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
S [ballot [ballot [ballot [ballot [ballot [ballot [ballot [ballot [ballot [ballo [ballo [ballo
] ] ] ] ] ] ] ] ] t] t] t]---
---
R AMEX BSE CBOE CHX NSX NASD NQX NYSE PHLX ARCA ISE OTHER
O (speci
fy)
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
J [ballot] Alabama [ballot] Hawaii [ballot] Michigan [ballot] North [ballot] Texas
Carolina
U [ballot] Alaska [ballot] Idaho [ballot] Minnesota [ballot] North [ballot] Utah
Dakota
R [ballot] Arizona [ballot] Illinois [ballot] [ballot] Ohio [ballot] Vermont
Mississippi
I [ballot] Arkansas [ballot] Indiana [ballot] Missouri [ballot] Oklahoma [ballot] Virgin
Islands
S [ballot] California [ballot] Iowa [ballot] Montana [ballot] Oregon [ballot] Virginia
D [ballot] Colorado [ballot] Kansas [ballot] Nebraska [ballot] [ballot] Washington
Pennsylvania
I [ballot] [ballot] Kentucky [ballot] Nevada [ballot] Puerto [ballot] West
Connecticut Rico Virginia
C [ballot] Delaware [ballot] Louisiana [ballot] New [ballot] Rhode [ballot] Wisconsin
Hampshire Island
T [ballot] District [ballot] Maine [ballot] New Jersey [ballot] South [ballot] Wyoming
of Columbia Carolina
I [ballot] Florida [ballot] Maryland [ballot] New Mexico [ballot] South
Dakota
O [ballot] Georgia [ballot] [ballot] New York [ballot] Tennessee
Massachusetts
N
----------------------------------------------------------------------------------------------------------------
* * * * *
By the Commission.
Dated: April 19, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-7746 Filed 4-23-07; 8:45 am]
BILLING CODE 8010-01-P
