Self-Regulatory Organizations; American Stock Exchange, LLC; Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, To Establish a Fee on a Listed Company That Changes Its Corporate Name or Ticker Symbol, 50421-50423 [E7-17353]
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Federal Register / Vol. 72, No. 169 / Friday, August 31, 2007 / Notices
significant transaction fee revenue.12
The proposed rule change will not affect
the Exchange’s commitment of
resources to its regulatory oversight of
the listing process or other regulatory
programs. Specifically, issuers of
Securities that benefit from any deferral,
waiver, or rebate will be reviewed for
compliance with Exchange listing
standards in the same manner as any
other issuer that applies to be listed on
the Exchange.
2. Statutory Basis
The Exchange believes that its
proposed rule change is consistent with
Section 6(b) of the Act 13 in general, and
furthers the objectives of Section 6(b)(4)
of the Act 14 in particular, in that it will
provide for the equitable allocation of
reasonable dues, fees, and other charges
among its members and issuers and
other persons using its facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received by the Exchange.
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.17
The Exchange has requested that the
Commission waive the 30-day operative
delay. The Commission believes that
doing so is consistent with the
protection of investors and the public
interest because the proposal does not
raise any novel regulatory issues. The
proposed rule is substantially similar to
provisions in Nasdaq Rules 4510(a) and
4520(a) and Section 902.02 of the NYSE
Listed Company Manual.18 For these
reasons, the Commission designates the
proposal to be operative upon filing
with the Commission.19
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–Amex–2007–59 on the
subject line.
sroberts on PROD1PC70 with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A) of the Act 15 and Rule 19b–
4(f)(6) thereunder.16 Because the
Exchange has designated the foregoing
proposed rule as one that: (i) Does not
significantly affect the protection of
investors or the public interest; (ii) does
not impose any significant burden on
competition; and (iii) does not become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
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–2007–59. 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/
12 If the committee determines to defer, waive, or
rebate listing fees in a comprehensive and/or
recurring manner that would constitute a stated
policy, practice, or interpretation of an existing
rule, the Exchange would file an additional rule
change pursuant to Rule 19b–4(f)(1) with respect
such policy, practice, or interpretation.
13 15 U.S.C. 78f(b).
14 15 U.S.C. 78f(b)(4).
15 15 U.S.C. 78s(b)(3)(A).
16 17 CFR 240.19b–4(f)(6).
17 The Exchange provided written notice to the
Commission 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, as is required by Rule
19b–4(f)(6)(iii).
18 See supra, notes 8–9.
19 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
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50421
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, 100 F Street, NE., Washington,
DC 20549, on official business days
between the hours of 10 a.m. and 3 p.m.
Copies of the filing also will be available
for inspection and copying at the
principal office of the Amex. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–Amex–2007–59 and should
be submitted on or before September 21,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.20
Nancy M. Morris,
Secretary.
[FR Doc. E7–17272 Filed 8–30–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56325; File No. SR–Amex–
2007–90]
Self-Regulatory Organizations;
American Stock Exchange, LLC;
Notice of Filing of Proposed Rule
Change, as Modified by Amendment
No. 1, To Establish a Fee on a Listed
Company That Changes Its Corporate
Name or Ticker Symbol
August 27, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
16, 2007, the American Stock Exchange,
LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been substantially prepared by
Amex. On August 27, 2007, the
20 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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50422
Federal Register / Vol. 72, No. 169 / Friday, August 31, 2007 / Notices
Exchange submitted Amendment No. 1
to the proposed rule change.3 The
Commission is publishing this notice to
solicit comments on the proposed rule
change, as modified by Amendment No.
1, from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Section 142 of the Amex Company
Guide in order to impose a fee on a
listed company that changes its name or
ticker symbol. The text of the proposed
rule change is available at https://
www.amex.com, at the Exchange, 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.
sroberts on PROD1PC70 with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Pursuant to Sections 140 and 141 of
the Amex Company Guide, the
Exchange charges issuers initial and
annual listing fees, respectively, based
on the number of listed shares.
Additional listing fees are also imposed
if an issuer lists more shares of a listed
class of securities. Amex rules also
provide for a fee when a company
effects a ‘‘substitution listing,’’ which
consists of reclassifying, changing, or
exchanging the listed security into or for
another security. The Nasdaq Stock
Market (‘‘Nasdaq’’) charges similar fees
upon the occurrence of the same type of
events.4 In addition to the fees
described above, Nasdaq imposes fees
on issuers for name and symbol
changes, as well as for changes in par
value, title, or security designation.5
Currently, the Amex does not impose
a separate fee for name and symbol
3 Amendment No. 1 made technical corrections to
Exhibits 1 and 5 of the original filing.
4 See Nasdaq Rules 4510 and 4520.
5 See id.
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00:43 Aug 31, 2007
Jkt 211001
changes. In the event of an issuer name
or symbol change, the Amex Corporate
Actions Group 6 must process the
documentation required to modify
Exchange records. The process of
effecting such changes includes, among
other things, contacting the issuer’s
outside counsel, updating internal
Amex files, tracking the name change
through the issuer’s shareholder
approval process, updating daily list
records and notifying the Floor. In the
event of a symbol change, an Amex
employee must also contact the other
exchanges to determine whether the
symbol is available. If the symbol is not
available the employee must contact
each exchange again with an alternate
symbol. This process can take a few
days to complete.
During 2005 and 2006, the Amex
processed approximately 90 name and/
or symbol changes.7 In light of the staff
resources required to effectuate these
changes, the Exchange proposes to
impose a $2,000 fee for name and/or
symbol changes. The proposed fee
would not apply to changes to par
value, title, or security designation, as
these types of changes occur
infrequently, and in virtually all cases
constitute a substitution listing which is
already subject to a fee of at least
$5,000.
The Exchange believes that the
proposal is equitable as required by
Section 6(b)(4) of the Act.8 Nasdaq
currently charges $2,500 for the same
type of change.9 Accordingly, the Amex
believes that the imposition of a $2,000
fee is reasonable given the Exchange
resources necessary to implement and
disseminate these changes. The
Exchange further submits that the
proposal is substantially similar to a
comparable Nasdaq fee.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act 10 in general, and
furthers the objectives of Sections
6(b)(4) and 6(b)(5) of the Act 11 in
particular, in that the proposed rule
change is designed to provide an
equitable allocation of dues, fees, and
other charges among members and
issuers and other persons using the
6 The Corporate Actions Group is part of the
Listing Qualifications Department.
7 Three of the 90 changes were changes to the
issuer’s symbols only.
8 Section 6(b)(4) of the Act states that the rules of
a national securities exchange provide for the
equitable allocation of reasonable dues, fees, and
other charges among its members and issuers and
other persons using its facilities.
9 See supra, note 4.
10 15 U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(4) and 78f(b)(5).
PO 00000
Frm 00101
Fmt 4703
Sfmt 4703
Exchange’s facilities, and is designed to
remove impediments to and perfect the
mechanism of a free and open market
and a national market system, and is not
designed to permit unfair
discrimination between issuers.
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
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
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 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–2007–90 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–Amex–2007–90. This file
number should be included on the
subject line if e-mail is used. To help the
E:\FR\FM\31AUN1.SGM
31AUN1
Federal Register / Vol. 72, No. 169 / Friday, August 31, 2007 / Notices
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, 100 F Street, NE., Washington,
DC 20549, on official business days
between the hours of 10 am and 3 pm.
Copies of such filing also will be
available for inspection and copying at
the principal office of the Exchange. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–Amex–2007–90 and should
be submitted on or before September 21,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
Nancy M. Morris,
Secretary.
[FR Doc. E7–17353 Filed 8–30–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56318; File No. SR–Amex–
2007–48]
Self-Regulatory Organizations;
American Stock Exchange, LLC;
Notice of Filing of Proposed Rule
Change Modifying the Options Listing
Criteria for Underlying Securities
sroberts on PROD1PC70 with NOTICES
August 24, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on May 17,
2007, the American Stock Exchange,
LLC. (‘‘Amex’’ or ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
Items I, II, and III below, which Items
have been substantially prepared by the
Exchange. On August 21, 2007, Amex
amended the proposed rule change.3
The Commission is publishing this
notice to solicit comments on the
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 amend
Commentary .01(4) to Amex Rule 915
and add new Commentary .01(6) to
Amex Rule 915 for the purpose of
permitting the Exchange to list and
trade individual equity options that are
otherwise ineligible for listing and
trading if such option is listed and
traded on another national securities
exchange.
The text of the proposed rule change
is available on the Amex’s Web site at
https://www.amex.com, at Amex’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 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. Amex
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 proposal seeks to revise
the options original listing guidelines so
that, as long as the options maintenance
listing standards set forth in Amex Rule
916 are met and the option is listed and
traded on another national securities
exchange, the Amex would be able to
list and trade the option. Commentary
.01 to Amex Rule 915 sets forth the
guidelines that an underlying individual
equity security must meet before the
Exchange may initially list options on
that security. The Amex states that these
guidelines or requirements are uniform
among the options exchanges.
Commentary .01(4) to Amex Rule 915
relates to the minimum market price
12 17
1 15
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00:43 Aug 31, 2007
3 Amendment No. 1 replaced and superseded the
original filing in its entirety.
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Frm 00102
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50423
that an underlying security must trade
at for an option to be listed on it.
Paragraph (4) of this Commentary .01
permits the listing of individual equity
options on both ‘‘covered’’ and
‘‘uncovered’’ underlying securities.4 In
the case of an underlying security that
is a ‘‘covered security’’ as defined under
section 18(b)(1)(A) of the 1933 Act, the
closing market price of the underlying
security must be at least $3 per share for
the five (5) previous consecutive
business days prior to the date on which
the Amex submits an option class
certification to The Options Clearing
Corporation (‘‘OCC’’).5 In connection
with underlying securities deemed to be
‘‘uncovered,’’ Exchange rules require
that such underlying security be at least
$7.50 for the majority of business days
during the three (3) calendar months
preceding the date of selection for such
listing. In addition, an alternative listing
procedure for ‘‘uncovered’’ securities
also permits the listing of such options
so long as: (1) The underlying security
meets the guidelines for continued
approval contained in Amex Rule 916;
(2) options on such underlying security
are traded on at least one other
registered national securities exchange;
and (3) the average daily trading volume
(‘‘ADTV’’) for such options over the last
three calendar months preceding the
date of selection has been at least 5,000
contracts. Paragraphs (1) through (3) of
Commentary .01 to Rule 915 further set
forth minimum requirements for an
underlying security such as shares
outstanding, number of holders and
trading volume.
The existing alternative listing
procedure was originally adopted by the
Exchange in 2002. At that time, the
Commission permitted the Amex to
eliminate the $7.50 standard (currently
$3 for covered securities) for an
underlying security when such option is
otherwise listed and traded on another
options exchange and has an ADTV over
the last three (3) calendar months of at
least 5,000 contracts. The Exchange
submits that the alternative listing
procedure has limited usefulness. The
options exchange (or exchanges) that
may be fortunate enough to list an
option that at first met the original
4 Section 18(b)(1)(A) of the Securities Act of 1933
(‘‘1933 Act’’) provides that ‘‘[a] security is a covered
security if such security is listed, or authorized for
listing, on the New York Stock Exchange or the
American Stock Exchange, or listed or authorized
for listing, on the National Market System of the
Nasdaq Stock Market (or any successor to such
entities) * * *.’’ See 15 U.S.C. 77r(b)(1)(A).
5 For purposes of this proposal, the market price
of an underlying security is measured by the closing
price reported in the primary market in which the
underlying security is traded. See proposed
Commentary .01(4) to Amex Rule 915.
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]]>Agencies
[Federal Register Volume 72, Number 169 (Friday, August 31, 2007)]
[Notices]
[Pages 50421-50423]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-17353]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56325; File No. SR-Amex-2007-90]
Self-Regulatory Organizations; American Stock Exchange, LLC;
Notice of Filing of Proposed Rule Change, as Modified by Amendment No.
1, To Establish a Fee on a Listed Company That Changes Its Corporate
Name or Ticker Symbol
August 27, 2007.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on August 16, 2007, the American Stock Exchange, LLC (``Amex'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been substantially prepared by Amex. On
August 27, 2007, the
[[Page 50422]]
Exchange submitted Amendment No. 1 to the proposed rule change.\3\ The
Commission is publishing this notice to solicit comments on the
proposed rule change, as modified by Amendment No. 1, from interested
persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Amendment No. 1 made technical corrections to Exhibits 1 and
5 of the original filing.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Section 142 of the Amex Company
Guide in order to impose a fee on a listed company that changes its
name or ticker symbol. The text of the proposed rule change is
available at https://www.amex.com, at the Exchange, 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
Statutory Basis for, the Proposed Rule Change
1. Purpose
Pursuant to Sections 140 and 141 of the Amex Company Guide, the
Exchange charges issuers initial and annual listing fees, respectively,
based on the number of listed shares. Additional listing fees are also
imposed if an issuer lists more shares of a listed class of securities.
Amex rules also provide for a fee when a company effects a
``substitution listing,'' which consists of reclassifying, changing, or
exchanging the listed security into or for another security. The Nasdaq
Stock Market (``Nasdaq'') charges similar fees upon the occurrence of
the same type of events.\4\ In addition to the fees described above,
Nasdaq imposes fees on issuers for name and symbol changes, as well as
for changes in par value, title, or security designation.\5\
---------------------------------------------------------------------------
\4\ See Nasdaq Rules 4510 and 4520.
\5\ See id.
---------------------------------------------------------------------------
Currently, the Amex does not impose a separate fee for name and
symbol changes. In the event of an issuer name or symbol change, the
Amex Corporate Actions Group \6\ must process the documentation
required to modify Exchange records. The process of effecting such
changes includes, among other things, contacting the issuer's outside
counsel, updating internal Amex files, tracking the name change through
the issuer's shareholder approval process, updating daily list records
and notifying the Floor. In the event of a symbol change, an Amex
employee must also contact the other exchanges to determine whether the
symbol is available. If the symbol is not available the employee must
contact each exchange again with an alternate symbol. This process can
take a few days to complete.
---------------------------------------------------------------------------
\6\ The Corporate Actions Group is part of the Listing
Qualifications Department.
---------------------------------------------------------------------------
During 2005 and 2006, the Amex processed approximately 90 name and/
or symbol changes.\7\ In light of the staff resources required to
effectuate these changes, the Exchange proposes to impose a $2,000 fee
for name and/or symbol changes. The proposed fee would not apply to
changes to par value, title, or security designation, as these types of
changes occur infrequently, and in virtually all cases constitute a
substitution listing which is already subject to a fee of at least
$5,000.
---------------------------------------------------------------------------
\7\ Three of the 90 changes were changes to the issuer's symbols
only.
---------------------------------------------------------------------------
The Exchange believes that the proposal is equitable as required by
Section 6(b)(4) of the Act.\8\ Nasdaq currently charges $2,500 for the
same type of change.\9\ Accordingly, the Amex believes that the
imposition of a $2,000 fee is reasonable given the Exchange resources
necessary to implement and disseminate these changes. The Exchange
further submits that the proposal is substantially similar to a
comparable Nasdaq fee.
---------------------------------------------------------------------------
\8\ Section 6(b)(4) of the Act states that the rules of a
national securities exchange provide for the equitable allocation of
reasonable dues, fees, and other charges among its members and
issuers and other persons using its facilities.
\9\ See supra, note 4.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act \10\ in general, and furthers the
objectives of Sections 6(b)(4) and 6(b)(5) of the Act \11\ in
particular, in that the proposed rule change is designed to provide an
equitable allocation of dues, fees, and other charges among members and
issuers and other persons using the Exchange's facilities, and is
designed to remove impediments to and perfect the mechanism of a free
and open market and a national market system, and is not designed to
permit unfair discrimination between issuers.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(4) and 78f(b)(5).
---------------------------------------------------------------------------
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
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
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 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-2007-90 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-Amex-2007-90. This file
number should be included on the subject line if e-mail is used. To
help the
[[Page 50423]]
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, 100 F Street, NE., Washington, DC
20549, on official business days between the hours of 10 am and 3 pm.
Copies of such filing also will be available for inspection and copying
at the principal office of the Exchange. All comments received will be
posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-Amex-2007-90 and should be submitted on
or before September 21, 2007.
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\12\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
Nancy M. Morris,
Secretary.
[FR Doc. E7-17353 Filed 8-30-07; 8:45 am]
BILLING CODE 8010-01-P
