[Federal Register Volume 62, Number 47 (Tuesday, March 11, 1997)]
[Notices]
[Pages 11247-11248]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-5980]


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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-38364; File No. SR-PSE-97-06]
March 4, 1997.


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the Pacific Stock Exchange 
Incorporated Relating to Changing the Corporate Name From Pacific Stock 
Exchange Incorporated to Pacific Exchange

    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 February 27, 1997, the Pacific Stock Exchange Incorporated (``PSE'' 
or ``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'' or ``SEC'') 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.
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    \1\ 15 U.S.C. Sec. 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 is proposing to amend its Article I, Section 1 of the

[[Page 11248]]

Constitution and the First Section of the Articles of Incorporation to 
reflect a change in the corporate name from Pacific Stock Exchange 
Incorporated to Pacific Exchange.

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 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 Exchange 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

    The purpose of the proposed rule change is to effect a change in 
the corporate name of the Exchange from Pacific Stock Exchange 
Incorporated to Pacific Exchange. This new corporate name is intended 
to better reflect the member population at the Exchange and to foster 
better public recognition of the diversity of the products traded at 
the PSE.
    Over the last several years, the Exchange has experienced 
tremendous growth, and as a result, the Exchange has been working on 
the development of a name which would more appropriately reflect who 
the Exchange is today, while at the same time maintaining the image and 
good will that the Exchange has already built over the last one hundred 
or so years. The proposed name, Pacific Exchange, captures the essence 
of a complete securities exchange, helps to focus on the Exchange's 
location as not only regional, but with ties to the international 
horizons.
Basis
    Pursuant to Rule 19b-4(e)(3), this proposed rule change is 
concerned solely with the administration of the Exchange. 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.

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

    Written comments on the proposed rule change were neither solicited 
nor received.

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

    The foregoing rule change has become effective on February 27, 
1997, pursuant to section 19(b)(3)(A) of the Act \3\ and subparagraph 
(e)(3) of Rule 19b-4 \4\ thereunder, because the proposed rule change 
is concerned solely with the administration of the self-regulatory 
organization. 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.
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    \3\ 15 U.S.C. Sec. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(e)(3).
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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, N.W., Washington, D.C. 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. 552, will be available for inspection and copying in the 
Commission's Public Reference Room. Copies of such filing will also be 
available for inspection and copying at the principal office of the 
PSE. All submissions should refer to File No. SR-PSE-97-06 and should 
be submitted by April 1, 1997.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\5\
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    \5\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-5980 Filed 3-10-97; 8:45 am]
BILLING CODE 8010-01-M