[Federal Register Volume 66, Number 178 (Thursday, September 13, 2001)]
[Notices]
[Page 47709]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-22983]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-44768; File No. SR-Amex-2001-36]


Self-Regulatory Organizations; Order Approving Proposed Rule 
Change by the American Stock Exchange LLC Relating to Hearing Fees for 
Issuer Requests for Review of Initial Listing and Delisting Decisions

September 6, 2001.
    On June 1, 2001, the American Stock Exchange LLC (``Amex'' or 
``Exchange'') 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 \2\ thereunder, a 
proposed rule change relating to hearing fees for issuer requests for 
review of initial listing and delisting decisions. Specifically, the 
proposed rule change would amend Amex Rules 1010(c), 1203(a), and 
1204(c) of the Amex Company Guide to impose hearing fees on issuers in 
connection with issuer requests for review of Exchange initial listing 
or delisting decisions.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

    The proposed rule change was published for comment in the Federal 
Register on August 1, 2001.\3\ The Commission received no comments on 
the proposal.
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 44589 (July 26, 
2001), 66 FR 39806 (August 1, 2001).
---------------------------------------------------------------------------

    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 that the proposed rule 
change is consistent with Section 6(b)(4) of the Act,\6\ which 
requires, among other things, that the rules of an exchange provide for 
the equitable allocation of reasonable dues, fees, and other charges 
among issuers. The Commission believes that the fees are reasonable 
because they are designed to recoup the costs of processing requests 
for review and holding the subsequent proceedings.
---------------------------------------------------------------------------

    \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)(4).
---------------------------------------------------------------------------

    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\7\ that the proposed rule change (File No. SR-AMEX-2001-36) be, 
and it hereby is, approved.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-22983 Filed 9-12-01; 8:45 am]
BILLING CODE 8010-01-M