[Federal Register Volume 61, Number 215 (Tuesday, November 5, 1996)]
[Notices]
[Page 56990]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-28308]


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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-37886; File No. SR-PSE-96-26]


Self-Regulatory Organizations; Pacific Stock Exchange 
Incorporated; Order Approving Proposed Rule Change Relating to Its 
Minor Rule Plan

October 29, 1996.

I. Introduction

    On August 7, 1996, the Pacific Stock Exchange Incorporated (``PSE'' 
or ``Exchange'') submitted to the Securities and Exchange Commission 
(``SEC'' or ``Commission''), pursuant to Section 19(b)(1) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 \2\ 
thereunder, a proposed rule change to amend the PSE's Minor Rule Plan.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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    The proposed rule change was published for comment in the Federal 
Register on August 21, 1996.\3\ No comments were received on the 
proposal.
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    \3\ See Securities Exchange Act Release No. 37592 (August 21, 
1996), 61 FR 45468.
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II. Description of Proposal

    As discussed in the Notice, the proposal would amend the PSE's 
disciplinary rules to provide Exchange staff with the authority to make 
findings of rule violations and to impose fines pursuant to the 
Exchange's Minor Rule Plan (``MRP'').

III. Discussion

    The Commission finds that the proposed rule change is consistent 
with Section 6(b) of the Act, in general, and Section 6(b)(5), in 
particular, in that it is designed to promote just and equitable 
principles of trade. The proposal also is consistent with Section 
6(b)(7) in that it is designed to provide a fair procedure for the 
disciplining of members and persons associated with members.

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the Act, 
that the proposed rule change (SR-PSE-96-26) is approved.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-28308 Filed 11-4-96; 8:45 am]
BILLING CODE 8010-01-M