Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Rule 2 (“Member,” “Membership,” “Member Firm,” etc.), 71990-71991 [E7-24534]
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71990
Federal Register / Vol. 72, No. 243 / Wednesday, December 19, 2007 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56953; File No. SR–NYSE–
2007–115]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Rule 2 (‘‘Member,’’ ‘‘Membership,’’
‘‘Member Firm,’’ etc.)
December 12, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on December
12, 2007, the New York Stock Exchange
LLC (‘‘NYSE’’ 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 the
NYSE. The NYSE has designated the
proposed rule change as one concerned
solely with the administration of the
Exchange pursuant to Section
19(b)(3)(A)(iii) of the Act,3 and Rule
19b–4(f)(3) thereunder,4 which renders
the proposal effective upon filing with
the Commission. The Commission is
publishing this notice to solicit
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
The NYSE proposes to extend to June
30, 2008, the operative date of NYSE
Rule 2 requirement that NYSE-only
member organizations apply for and be
approved as a member of the Financial
Industry Regulatory Authority, Inc.
(‘‘FINRA’’).
mstockstill on PROD1PC66 with NOTICES
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
NYSE included statements concerning
the purpose of, and basis for, the
proposed rule change and discussed any
comments it received on the proposed
rule change. The text of these statements
may be examined at the places specified
in Item IV below. The NYSE has
prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(3).
2 17
VerDate Aug<31>2005
21:40 Dec 18, 2007
Jkt 214001
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange is proposing to extend
to June 30, 2008, the grace period for
NYSE-only member organizations to
apply for and be approved as a FINRA
member, as required by NYSE Rule 2.
In connection with the consolidation
of the National Association of Securities
Dealers, Inc. and NYSE Regulation, Inc.
member firm regulation operations into
FINRA which closed on July 30, 2007,
the Exchange amended NYSE Rule 2 to
require NYSE member organizations to
also be FINRA members.5 In connection
with that rule change, the Commission
approved a 60-day grace period within
which NYSE-only member
organizations must apply for and be
approved for FINRA membership. In
that rule filing, NYSE-only member
organizations were defined as those
member organizations that were not
NASD members as of the date of the
closing of the FINRA transaction. This
grace period began on October 12, 2007,
the date of Commission approval of the
Exchange’s rule filing. In furtherance of
the consolidation, FINRA adopted
NASD IM–1013–1 to enable eligible
NYSE member organizations to become
FINRA members though an expedited
process (‘‘FINRA Waive-in application
process’’).6
As of December 12, 2007, all but two
of the former NYSE-only member
organizations have applied for and been
approved as FINRA members. The two
remaining member organizations have
unique member qualification issues and
are ineligible to participate in the
FINRA Waive-in application process.
Accordingly, the NYSE proposes to
extend the grace period to June 30,
2008, to provide time for those issues to
be resolved.
2. Statutory Basis
The basis under the Act for this
proposed rule change is the requirement
under Section 6(b)(5) 7 of the Act that an
Exchange have rules that are designed to
promote just and equitable principles of
trade, to remove impediments to and
perfect the mechanism of a free and
open market and a national market
5 See Securities Exchange Act Release No. 56654
(October 12, 2007), 72 FR 59129 (October 18, 2007)
(SR–NYSE–2007–67).
6 See Securities Exchange Act Release No. 56653
(October 12, 2007), 72 FR 59127 (October 18, 2007)
(SR–NASD–2007–56).
7 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00120
Fmt 4703
Sfmt 4703
system and, in general, to protect
investors and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change 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
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has become effective pursuant to
Section 19(b)(3)(A)(iii) 8 of the Act and
Rule 19b–4(f)(3) thereunder 9 because it
is concerned solely with the
administration of the Exchange. At any
time within 60 days of the filing of such
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–NYSE–2007–115 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–NYSE–2007–115. This file
number should be included on the
subject line if e-mail is used. To help the
8 15
9 17
E:\FR\FM\19DEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(3).
19DEN1
Federal Register / Vol. 72, No. 243 / Wednesday, December 19, 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 a.m. and 3 p.m.
Copies of such filing also will be
available for inspection and copying at
the principal office of the NYSE. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–NYSE–2007–115 and
should be submitted on or before
January 9, 2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–24534 Filed 12–18–07; 8:45 am]
BILLING CODE 8011–01–P
DEPARTMENT OF STATE
[Public Notice 6032]
Termination of Statutory Debarment
and Reinstatement of Eligibility To
Apply for Export/Retransfer
Authorizations Pursuant to Section
38(g)(4) of the Arms Export Control
Act, for Rotair Industries, Inc. (Rotair)
mstockstill on PROD1PC66 with NOTICES
ACTION:
Notice.
SUMMARY: Notice is hereby given that
the Department of State has terminated
the statutory debarment against Rotair
pursuant to section 38(g)(4) of the Arms
Export Control Act (AECA) (22 U.S.C.
2778(g)(4)).
DATES: Effective Date: December 7, 2007.
FOR FURTHER INFORMATION CONTACT:
David C. Trimble, Director Office of
Defense Trade Controls Compliance,
10 17
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
21:40 Dec 18, 2007
Jkt 214001
Directorate of Defense Trade Controls,
Bureau of Political-Military Affairs,
Department of State (202) 663–2807.
SUPPLEMENTARY INFORMATION: Section
38(g)(4) of the AECA (22 U.S.C. 2778)
prohibits the issuance of export licenses
to a person, if that person or any party
to the export has been convicted of
violating section 38 of the AECA and
certain other U.S. criminal statutes
enumerated at section 38(g)(1)(A) of the
AECA. A person convicted of violating
the AECA is also subject to statutory
debarment under section 127.7 of the
ITAR.
In July 2004, Rotair was convicted of
violating the AECA and the ITAR (U.S.
District Court, District of Connecticut,
3:04CR 149–JBA). Based on this
conviction, Rotair was statutorily
debarred pursuant to section 127.7 of
the ITAR and, thus, prohibited from
participating directly or indirectly in
exports of defense articles and defense
services. Notice of debarment was
published in the Federal Register (70
FR 57349, September 30, 2005).
In accordance with section 38(g)(4) of
the AECA, statutory debarment may be
terminated after consultation with the
other appropriate U.S. agencies and
after a thorough review of the
circumstances surrounding the
conviction and a finding that
appropriate steps have been taken to
mitigate any law enforcement concerns.
The Department of State, after
consultation with other agencies, has
determined that Rotair has taken
appropriate steps to address the causes
of the violations and to mitigate any law
enforcement concerns. Therefore, the
debarment against Rotair is rescinded,
effective December 7, 2007. The effect of
this action is that Rotair may participate
without prejudice in the export of
defense articles and defense services
subject to Section 38 of the AECA and
the ITAR.
Dated: December 7, 2007.
Frank J. Ruggiero,
Acting Assistant Secretary of State, Bureau
of Political-Military Affairs, Department of
State.
[FR Doc. E7–24637 Filed 12–18–07; 8:45 am]
BILLING CODE 4710–25–P
DEPARTMENT OF STATE
[Public Notice 6034]
Additional Designation of Entities
Pursuant to Executive Order 13382
Department of State.
Designation of Iran’s Islamic
Revolutionary Guard Corps (IRGC) and
Ministry of Defense and Armed Forces
AGENCY:
ACTION:
PO 00000
Frm 00121
Fmt 4703
Sfmt 4703
71991
Logistics (MODAFL) Pursuant to
Executive Order 13382.
SUMMARY: Pursuant to the authority in
section 1(ii) of Executive Order 13382,
‘‘Blocking Property of Weapons of Mass
Destruction Proliferators and Their
Supporters’’, the Assistant Secretary of
State, in consultation with the Secretary
of the Treasury and the Attorney
General, has determined that two
Iranian entities, the Islamic
Revolutionary Guard Corp (IRGC) and
Ministry of Defense and Armed Forces
Logistics (MODAFL), have engaged, or
attempted to engage, in activities or
transactions that have materially
contributed to, or pose a risk of
materially contributing to, the
proliferation of weapons of mass
destruction or their means of delivery.
DATES: The designation by the Acting
Under Secretary of State for Arms
Control and International Security of the
entities identified in this notice
pursuant to Executive Order 13382 is
effective on October 25, 2007.
FOR FURTHER INFORMATION CONTACT:
Director, Office of Counterproliferation
Initiatives, Bureau of International
Security and Nonproliferation,
Department of State, Washington, DC
20520, tel.: 202–647–5193
Background
On June 28, 2005, the President,
invoking the authority, inter alia, of
International Emergency Economic
Powers Act (50 U.S.C. 1705–1706)
(‘‘IEEPA’’), issued Executive Order
13382 (70 FR 38567, July 1, 2005) (the
‘‘Order’’), effective at 12:01 a.m. eastern
daylight time on June 29, 2005. In the
Order the President took additional
steps with respect to the national
emergency described and declared in
Executive Order 12938 of November 14,
1994, regarding the proliferation of
weapons of mass destruction and the
means of delivering them.
Section 1 of the Order blocks, with
certain exceptions, all property and
interests in property that are in the
United States, or that hereafter come
within the United States or that are or
hereafter come within the possession or
control of United States persons, of: (1)
The persons listed in the Annex to the
Order; (2) any foreign person
determined by the Secretary of State, in
consultation with the Secretary of the
Treasury, the Attorney General, and
other relevant agencies, to have
engaged, or attempted to engage, in
activities or transactions that have
materially contributed to, or pose a risk
of materially contributing to, the
proliferation of weapons of mass
destruction or their means of delivery
E:\FR\FM\19DEN1.SGM
19DEN1
]]>Agencies
[Federal Register Volume 72, Number 243 (Wednesday, December 19, 2007)]
[Notices]
[Pages 71990-71991]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-24534]
[[Page 71990]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56953; File No. SR-NYSE-2007-115]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to Rule 2 (``Member,'' ``Membership,'' ``Member Firm,'' etc.)
December 12, 2007.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on December 12, 2007, the New York Stock Exchange LLC (``NYSE'' 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 the
NYSE. The NYSE has designated the proposed rule change as one concerned
solely with the administration of the Exchange pursuant to Section
19(b)(3)(A)(iii) of the Act,\3\ and Rule 19b-4(f)(3) thereunder,\4\
which renders the proposal effective upon filing with the Commission.
The Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(3).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The NYSE proposes to extend to June 30, 2008, the operative date of
NYSE Rule 2 requirement that NYSE-only member organizations apply for
and be approved as a member of the Financial Industry Regulatory
Authority, Inc. (``FINRA'').
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 NYSE included statements
concerning the purpose of, and basis for, the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The NYSE has prepared summaries, set forth in Sections
A, B, and C below, of the most significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange is proposing to extend to June 30, 2008, the grace
period for NYSE-only member organizations to apply for and be approved
as a FINRA member, as required by NYSE Rule 2.
In connection with the consolidation of the National Association of
Securities Dealers, Inc. and NYSE Regulation, Inc. member firm
regulation operations into FINRA which closed on July 30, 2007, the
Exchange amended NYSE Rule 2 to require NYSE member organizations to
also be FINRA members.\5\ In connection with that rule change, the
Commission approved a 60-day grace period within which NYSE-only member
organizations must apply for and be approved for FINRA membership. In
that rule filing, NYSE-only member organizations were defined as those
member organizations that were not NASD members as of the date of the
closing of the FINRA transaction. This grace period began on October
12, 2007, the date of Commission approval of the Exchange's rule
filing. In furtherance of the consolidation, FINRA adopted NASD IM-
1013-1 to enable eligible NYSE member organizations to become FINRA
members though an expedited process (``FINRA Waive-in application
process'').\6\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 56654 (October 12,
2007), 72 FR 59129 (October 18, 2007) (SR-NYSE-2007-67).
\6\ See Securities Exchange Act Release No. 56653 (October 12,
2007), 72 FR 59127 (October 18, 2007) (SR-NASD-2007-56).
---------------------------------------------------------------------------
As of December 12, 2007, all but two of the former NYSE-only member
organizations have applied for and been approved as FINRA members. The
two remaining member organizations have unique member qualification
issues and are ineligible to participate in the FINRA Waive-in
application process. Accordingly, the NYSE proposes to extend the grace
period to June 30, 2008, to provide time for those issues to be
resolved.
2. Statutory Basis
The basis under the Act for this proposed rule change is the
requirement under Section 6(b)(5) \7\ of the Act that an Exchange have
rules that are designed to promote just and equitable principles of
trade, to remove impediments to and perfect the mechanism of a free and
open market and a national market system and, in general, to protect
investors and the public interest.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change 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
The Exchange has neither solicited nor received written comments on
the proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change has become effective pursuant to
Section 19(b)(3)(A)(iii) \8\ of the Act and Rule 19b-4(f)(3) thereunder
\9\ because it is concerned solely with the administration of the
Exchange. At any time within 60 days of the filing of such 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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(3).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-NYSE-2007-115 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSE-2007-115. This
file number should be included on the subject line if e-mail is used.
To help the
[[Page 71991]]
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 a.m. and 3
p.m. Copies of such filing also will be available for inspection and
copying at the principal office of the NYSE. All comments received will
be posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSE-2007-115 and should be submitted on
or before January 9, 2008.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-24534 Filed 12-18-07; 8:45 am]
BILLING CODE 8011-01-P
