[Federal Register Volume 60, Number 180 (Monday, September 18, 1995)]
[Notices]
[Pages 48180-48181]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23018]



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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-36212; File No. SR-Amex-95-36]


Self-Regulatory Organizations; Notice of Filing of Proposed Rule 
Change by the American Stock Exchange, Inc., Relating to the Disclaimer 
Provisions of Amex Rule 902C

September 11, 1995.
    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 25, 1995, the American Stock Exchange, Inc. (``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 prepared by the Exchange. 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.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend Amex Rule 902C to include 
Inter@ctive Enterprises L.L.C., publisher and owner of Inter@ctive 
Week, a bi-weekly magazine in the disclaimer provisions of that Rule. 
The text of the proposed rule change is available at the Office of the 
Secretary, the Exchange, and at the Commission.

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. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
Section (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

    In conjunction with the Exchange's proposal to trade options on the 
Inter@ctive Week Internet Index (``Index''), the Exchange proposes to 
amend Rule 902C to provide a disclaimer for Inter@ctive Enterprises 
L.L.C., publisher and owner of Inter@ctive Week, a bi-weekly magazine. 
The Exchange's proposal to list and trade options on the Index was 
filed pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 
1934 on August 23, 1995.\3\ The disclaimer, identical in content to 
disclaimers currently in place for Standard & Poors Corporation \4\ and 
Morgan Stanley & Co. Incorporated,\5\ states that Inter@ctive 
Enterprise L.L.C. does not guarantee the accuracy or completeness of 
the Index, makes no express or implied warranties with respect to the 
Index and shall have no liability for any damages, claims, losses or 
expenses caused by errors in the Index calculation.

    \3\ See Securities Exchange Act Release No. 36163 (August 29, 
1995).
    \4\ See Amex Rule 902C(c).
    \5\ See Amex Rule 902C(d).
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    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act in general and furthers the objectives of 
Section 6(b)(5) in particular in that it is designed to prevent 
fraudulent and manipulative acts and practices, to promote just and 
equitable principles of change, to foster cooperation and coordination 
with persons engaged in facilitating transactions in securities, and to 
remove impediments to and perfect the mechanism of a free and open 
market and a national market system.

(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.

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

    No written comments were solicited or received with respect to the 
proposed rule change.

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 self-regulatory organization 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. 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 at 
the Commission's Public Reference Section, 450 Fifth Street NW., 

[[Page 48181]]
Washington, DC 20549. Copies of such filing will also be available for 
inspection and copying at the principal office of the Amex. All 
submissions should refer to SR-Amex-95-36 and should be submitted by 
October 10, 1995.

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

    \6\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-23018 Filed 9-15-95; 8:45 am]
BILLING CODE 8010-01-M