[Federal Register Volume 66, Number 161 (Monday, August 20, 2001)]
[Notices]
[Pages 43601-43602]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-20857]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-44682; File No. SR-Phlx-2001-54]


Self Regulatory Organizations; Philadelphia Stock Exchange, Inc.; 
Order Granting Approval to Proposed Rule Change Relating to the 
Elimination of the Requirement That the Three Core Members of the 
Equity and Options Allocation, Evaluation, and Securities Committees 
Who Conduct a Securities Business be the Same People for Both 
Committees

August 10, 2001.
    On May 16, 2001, the Philadelphia Stock Exchange, Inc. filed with 
the Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to eliminate the 
requirement that the three core members of the Equity and Options 
Allocation, Evaluation, and Securities Committees who conduct a 
securities business be the same people for both committees.
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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 July 11, 2001.\3\ The Commission received no comments on 
the proposal.
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    \3\ See Securities Exchange Act Release No. 44505 (July 11, 
2001), 66 FR 36355.

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[[Page 43602]]

    The Commission finds that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder applicable to a national securities exchange\4\ and, in 
particular, the requirements of Section 6 of the Act\5\ and the rules 
and regulations thereunder. The Commission finds specifically that the 
proposed rule change is consistent with Section 6(b)(5) of the Act\6\ 
because it is designed to foster cooperation and coordination with 
persons engaged in regulating, clearing, settling, processing 
information with respect to, and facilitating transactions in 
securities, to remove impediments to and perfect the mechanism of a 
free and open market and a national market system and, in general, to 
protect investors and the public interest.
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    \4\ In approving this proposed rule change, the Commission notes 
that it has considered the proposed rule's impact on efficiency, 
competition, and capital formation. 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f.
    \6\ 15 U.S.C. 78f(b)(5).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act\7\, that the proposed rule change (File No. SR-Phlx-2001-54) be, 
and it hereby is, approved.
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    \7\ 15 U.S.C. 78s(b)(2).

    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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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-20857 Filed 8-17-01; 8:45 am]
BILLING CODE 8010-01-M