[Federal Register Volume 59, Number 153 (Wednesday, August 10, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-19445]


[[Page Unknown]]

[Federal Register: August 10, 1994]


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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-34486; File No. SR-NASD-93-61

 

Self-Regulatory Organizations; National Association of Securities 
Dealers, Inc.; Notice of Withdrawal of Proposed Rule Change and 
Termination of Proceeding To Determine Whether To Disapprove Proposed 
Rule Change Relating to the National Association of Securities Dealers, 
Inc.'s SelectNet Service

August 4, 1994.
    On November 1, 1993, the National Association of Securities 
Dealers, Inc. (``NASD'') filed with the Securities and Exchange 
Commission (``Commission'' or ``SEC''), pursuant to Section 19(b)(1) of 
the Securities Exchange Act of 1934 (``Act'') and Rule 19b-4 
thereunder, a proposed rule change to modify the operational features 
of the SelectNet service.\1\ On May 3, 1994, the Commission issued an 
order instituting proceedings to determine whether to disapprove the 
NASD's proposed rule change.\2\

    \1\Securities Exchange Act Release No. 33141 (Nov. 3, 1993), 58 
FR 59504 (Nov. 9, 1993). The NASD originally filed the proposed rule 
change on October 25, 1993, pursuant to Section 19(b)(3)(A) of the 
Act. On October 29, 1993, the Commission issued an Order of Summary 
Abrogation abrogating the NASD's October 25th rule change. The 
Commission's Order of Summary Abrogation suggested that the 
procedures provided by Section 19(b)(2) of the Act provide a more 
appropriate mechanism for determining whether the NASD's rule change 
is consistent with the Act. Thus, on November 1, 1993, the NASD 
refiled its rule change pursuant to Section 19(b)(2).
    \2\Securities Exchange Act Release No. 34000 (May 3, 1994); 59 
FR 23909 (May 9, 1994).
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    By a letter dated July 25, 1994, the NASD advised the Commission of 
its decision to withdraw its SelectNet filing, SR-NASD-93-63.\3\ The 
Commission has considered the letter from the NASD as a request for the 
Commission to terminate the proceeding to determine whether to 
disapprove the proposed rule change. Accordingly, based on the NASD's 
decision to withdraw its proposal SR-NASD-93-61, the proceeding to 
determine whether to disapprove is hereby terminated.

    \3\Letter from Robert E. Aber, Vice President and General 
Counsel, The Nasdaq Stock Market, Inc., to Michael Ryan, SEC (July 
25, 1994).

    By the Commission.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-19445 Filed 8-9-94; 8:45 am]
BILLING CODE 8010-01-M