[Federal Register Volume 62, Number 54 (Thursday, March 20, 1997)]
[Notices]
[Pages 13424-13425]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-7046]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-38403; File No. SR-PSE-97-08]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by the Pacific Exchange Relating
to Changing the Corporate Name From Pacific Exchange to Pacific
Exchange, Inc.
March 14, 1997.
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 March 10, 1997, the Pacific Exchange (``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. 78s(b)(1) (1988).
\2\ 17 CFR 240.19b-4 (1991).
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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
Constitution and the first Section of the Certificate of Incorporation
to reflect a change in the corporate name from Pacific Exchange to
Pacific Exchange, Inc.
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
[[Page 13425]]
Pacific Exchange to Pacific Exchange, Inc. This proposed modification
to the corporate name will correct the Exchange's Constitution and
Certificate of Incorporation so that they properly reflect the legal
name of the Exchange. The Exchange recently filed an amendment to these
provisions reflecting the name change, inadvertently omitting the
corporate indicator. Therefore, the only difference, as a result of
this filing, is the addition of a corporate indicator ``Inc.'' to
comply with state corporate law requirements.
Basis
Pursuant to Rule 19b-4(e)(3), \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, \4\ in general,
and Section 6(b)(5), \5\ in particular, in that it is designed to
promote just and equitable principles of trade.
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\3\ 17 CFR 240.19b-4(e)(3).
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
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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 pursuant to Section
19(b)(3)(A) of the Act \6\ and subparagraph (e) of Rule 19b-4
thereunder,\7\ because it is concerned solely with the administration
of the Exchange. 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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\6\ 15 U.S.C. 78s(b)(3).
\7\ 17 CFR 240.19b-4(e).
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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, 450 Fifth Street, N.W., Washington,
D.C. 20549. Copies of such filing will also be available for inspection
and copying at the principal office of the Exchange. All submissions
should refer to File No. SR-PSE-97-08 and should be submitted by April
10, 1997.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(12).
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Jonathan G. Katz,
Secretary.
[FR Doc. 97-7046 Filed 3-19-97; 8:45 am]
BILLING CODE 8010-01-M