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]

Download as PDF 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 (http://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 (http://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]]

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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.
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    \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).
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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 (http://
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 (http://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\
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    \10\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-24534 Filed 12-18-07; 8:45 am]
BILLING CODE 8011-01-P