[Federal Register Volume 66, Number 151 (Monday, August 6, 2001)]
[Rules and Regulations]
[Pages 40885-40886]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-19521]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 200

[Release No. 34-44626]


Delegation of Authority to the Director of the Division of Market 
Regulation

AGENCY: Securities and Exchange Commission

ACTION: Final rule.

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SUMMARY: The Securities and Exchange Commission is amending its rules 
to delegate to the Director of the Division of Market Regulation 
authority to extend deadlines for submission of comments to 
applications for registration as a national securities exchange filed 
under Section 6 of the Exchange Act of 1934, applications for exemption 
from registration based on limited volume filed under Section 6 of the 
Exchange Act, and amendments to such applications. This delegation will 
facilitate and expedite the process of exchange registration and 
exemption from registration based on limited volume.

EFFECTIVE DATE: August 6, 2001.

FOR FURTHER INFORMATION CONTACT: Rebekah Liu, Special Counsel, at (202) 
942-0133; Division of Market Regulation, Securities and Exchange 
Commission, 450 Fifth Street, NW., Washington, DC. 20549-1001.

SUPPLEMENTARY INFORMATION: The Securities and Exchange Commission 
(``Commission'') has adopted an

[[Page 40886]]

amendment to Rule 30-3 of its Rules of Organization and Program 
Management governing Delegations of Authority to the Director of the 
Division of Market Regulation (``Director'').\1\ The amendment adds new 
subparagraph (iii) to paragraph (a)(73) of Rule 30-3 authorizing the 
Director to extend deadlines for submission of comments to (a) 
applications for registration as a national securities exchange filed 
under Section 6 of the Exchange Act of 1934 (``Exchange Act''),\2\ (b) 
applications for an exemption from registration based on limited volume 
filed under Section 6 of the Exchange Act, and (c) amendments to such 
applications.
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    \1\ 17 CFR 200.30-3.
    \2\ 15 U.S.C. 78f.
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    The delegation of authority to the Director to extend deadlines for 
submission of comments is intended to conserve Commission resources by 
permitting Division staff to extend the deadline for submission of 
comments to such applications and amendments to such applications. The 
Division has received several applications for registration as a 
national securities exchange that must be published for comment. The 
Division anticipates that, when an application for registration as a 
national securities exchange or exemption from registration based on 
limited volume is filed and published for comment, there will be 
significant comment on the application. Granting the Division delegated 
authority to extend deadlines for submission of comments to 
applications and amendments to such applications filed pursuant to 
Section 6 of the Exchange Act will provide the Division with greater 
flexibility to respond to commenters' requests, and may expedite the 
process of publishing amendments to the Form 1. Nevertheless, the staff 
may submit matters to the Commission for consideration as it deems 
appropriate.
    The Commission finds, in accordance with Section 553(b)(3)(A) of 
the Administrative Procedure Act,\3\ that this amendment relates solely 
to agency organization, procedure, or practice, and does not relate to 
a substantive rule. Accordingly, notice, opportunity for public 
comment, and publication of the amendment prior to its effective date 
are unnecessary.
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    \3\ 5 U.S.C. 553(b)(A).
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List of Subjects in 17 CFR Part 200

    Administrative practice and procedure, Authority delegations 
(Government agencies), Organization and functions (Government 
agencies).

Text of Amendment

    In accordance with the preamble, the Commission hereby amends Title 
17, Chapter II of the Code of Federal Regulations as follows:

PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND 
REQUESTS

Subpart A--Organization and Program Management

    1. The authority citation for Part 200, Subpart A, continues to 
read, in part, as follows:

    Authority: 15 U.S.C. 77s, 78d-1, 78d-2, 78w, 78ll(d), 78mm, 79t, 
77sss, 80a-37, 80b-11, unless otherwise noted.
* * * * *

    2. Section 200.30-3, paragraph (a)(73), is amended by removing the 
word ``and'' at the end of paragraph (a)(73)(i); removing the period at 
the end of paragraph (a)(73)(ii) and adding;`` and''; and adding 
paragraph (a)(73)(iii) to read as follows:


Sec. 200.30-3  Delegation of authority to Director of Division of 
Market Regulation.

* * * * *
    (a)* * *
    (73) Pursuant to section 6(a) of the Act, 15 U.S.C. 78f(a), and 
Rule 6a-1 thereunder, 17 CFR 240.6a-1:
* * * * *
    (iii) To extend deadlines for submission of comments to an 
application for registration as a national securities exchange, or for 
exemption from registration based on limited volume; and amendments to 
an application for registration as a national securities exchange, or 
for exemption from registration based on limited volume.

    By the Commission.

    Dated: July 31, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-19521 Filed 8-3-01; 8:45 am]
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