[Federal Register Volume 66, Number 191 (Tuesday, October 2, 2001)]
[Notices]
[Page 50237]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-24578]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-44843; File No. SR-DTC-2001-06]


Self-Regulatory Organizations; The Depository Trust Company; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
Revising the Fee Schedule for Services of The Depository Trust Company

September 25, 2001.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on April 25, 2001, The 
Depository Trust Company (``DTC'') filed with the Securities and 
Exchange Commission (``Commission'') the proposed rule change as 
described in Items I, II, and III below, which items have been prepared 
primarily by DTC. 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).
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I. Self-Regulatory Organization's Statement of the Terms of 
Substance of the Proposed Rule Change

    DTC is filing a revised fee schedule for DTC services associated 
with the processing of registered securities.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, DTC 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. DTC has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of such 
statements.\2\
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    \2\ The Commission has modified parts of these statements.
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(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 adjust the fees DTC 
charges for various services and to initiate several new fees for 
existing services so that DTC's fees may be aligned with the respective 
estimated service costs for 2001. The revised fees and new fees will be 
effective with respect to services provided on and after May 1, 2001.
    The revised 2001 fee schedule includes five new fees for existing 
services, which are being employed to recover processing costs with 
regard to reorganizations and underwritings. The revised and new fees 
are set forth in Exhibit 1 to the proposed rule change.
    DTC believes that the proposed rule change is consistent with the 
requirements of the Act and the rules and regulations thereunder 
applicable to DTC because fees will be allocated more equitably among 
DTC participants based on respective estimated 2001 unit service costs.

(B) Self-Regulatory Organization's Statement on Burden on Competition

    DTC 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

    No written comments from participants or others have been solicited 
or received in respect of this proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing 
for Commission Action

    DTC has designated the proposed rule change as a fee change in 
accordance with Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-
4(f)(2) \4\ thereunder. Accordingly, the proposal will take effect upon 
filing with the Commission. At any time within sixty days of the filing 
of the 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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    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Persons making written submissions 
should file six copies thereof with the Secretary, Securities and 
Exchange Commission, 450 Fifth Street NW, Washington, DC 20549-0609. 
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 Section, 450 Fifth Street NW, Washington, 
DC 20549. Copies of such filings will also be available for inspection 
and copying at the principal office of DTC. All submissions should 
refer to the File No. SR-DTC-2001-06 and should be submitted by October 
23, 2001.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\5\
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    \5\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-24578 Filed 10-1-01; 8:45 am]
BILLING CODE 8010-01-M