[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