[Federal Register Volume 60, Number 140 (Friday, July 21, 1995)]
[Notices]
[Pages 37699-37700]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-17994]



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[[Page 37700]]


SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-35977; File No. SR-MBS-95-03]


Self-Regulatory Organizations; MBS Clearing Corporation; Notice 
of Filing and Immediate Effectiveness of Proposed Rule Change Modifying 
MBS Clearing Corporation's Schedule of Charges for Hardcopy Output of 
Reports

July 17, 1995.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on June 5, 1995, the MBS 
Clearing Corporation (``MBS'') filed with the Securities and Exchange 
Commission (``Commission'') the proposed rule change (File No. SR-MBS-
95-03) as described in Items I, II, and III below, which Items have 
been prepared primarily by MBS. 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) (1988).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The proposed rule change modifies MBS's Schedule of Charges for 
hardcopy output of reports.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, MBS 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. MBS has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of such 
statements.\2\

    \2\ The Commission has modified the language in these sections.
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(A) Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    The purpose of the proposed rule change is to modify MBS's Schedule 
of Charges for hardcopy output of reports. MBS currently charges its 
participants $.10 per page for requests for hardcopy output of reports 
from microfiche and the Securities Industry Automation Corporation 
(``SIAC''). The proposed rule change increases MBS's fee for requests 
for hardcopy output from microfiche from $.10 per page to $1.00 per 
page. The new fee more accurately reflects the costs incurred by MBS to 
provide hardcopy output from microfiche. The fee for hardcopy output 
from SIAC, however, will remain unchanged at $.10 per page.
    MBS believes that the proposed rule change is consistent with 
Section 17A(b)(3)(D) of the Act \3\ and the rules and regulations 
thereunder in that it provides for the equitable allocation of 
reasonable dues, fees, and other charges among its participants.

    \3\ 15 U.S.C. 78q-1(b)(3)(D) (1988).
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(B) Self-Regulatory Organization's Statements on Burden on Competition

    MBS does not believe that the proposed rule change will have an 
impact on or impose a burden on competition.

(C) Self-Regulatory Organization's Statement on Comments on the 
Proposed Rule Change Received From Members, Participants, or Others

    No written comments relating to the proposed rule change have been 
solicited or received. MBS will notify the Commission of any written 
comments received by MBS.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Act \4\ and pursuant to Rule 19b-4(e)(2) 
promulgated thereunder\5\ because the proposed rule change establishes 
a due, fee, or other charge imposed by MBS. At any time within sixty 
days of the filing of such rile change, the Commission may summarily 
abrogate such rule change if it appears to the Commission that such 
action is necessary or appropriate in the pubic interest, for the 
protection of investors, or otherwise in furtherance of the purposes of 
the Act.

    \4\ 15 U.S.C. 78s(b)(3)(A)(ii) (1988).
    \5\ 17 CFR 240.19b-4(e)(2) (1994).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing. Persons making written submissions 
should file six copies thereof with the Secretary, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. 
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. Sec. 552, will be available for inspection and copying in 
the Commission's Public Reference Section, 450 Fifth Street, NW., 
Washington, DC 20549. Copies of such filing will also be available for 
inspection and copying at the principal office of MBS. All submissions 
should refer to File No. SR-MBS-95-03 and should be submitted by August 
11, 1995.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\6\

    \6\ 17 CFR 200.30-3(a)(12) (1994).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-17994 Filed 7-20-95; 8:45 am]
BILLING CODE 8010-01-M