[Federal Register Volume 67, Number 25 (Wednesday, February 6, 2002)]
[Notices]
[Pages 5630-5631]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-2865]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-45366; File No. SR-Amex-2002-06)


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the American Stock Exchange 
LLC Relating to the Implementation of a Fee for the Issuance of 
Temporary Identification Badges

January 30, 2002.
    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 January 24, 2002, the American Stock Exchange LLC (``Amex'' or 
``Exchange'') 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 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).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of 
Substance of the Proposed Rule Change

    The Amex, pursuant to Rule 19b-4 of the Act, proposes to charge a 
flat fee of $50 per occasion for the issuance of temporary 
identification badges for any member or member firm employee who fails 
to bring his or her badge to the Exchange. According to the Exchange, 
members and/or their firms will be automatically billed monthly for 
each temporary idenitification badge for both affiliated employees and 
members.
    The text of the proposed rule change is available at the Office of 
the Secretary, the Amex, and at the Commission.

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 regarding the proposed rule change. 
The text of these statements may be examined at the places specified in 
Item IV below. The Amex has prepared summaries, sest 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

1. Purpose
    The Amex represents that current circumstances require heightened 
security measures, and thus, that the Amex's Security Department's 
resources need to be focused on these measures. According to the Amex, 
issuing temporary identification badges interferes with more important 
duties and is an expense to the Exchange. As a result, the Amex is 
proposing to charge a flat fee of $50 per occasion for the issuance of 
temporary identification badges for any member or member firm employee 
who fails to bring his or her badge to the Exchange. Members and/or 
their firms will be automatically billed monthly for each temporary 
identification badge for both affiliated employees and members.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) \3\ of the Act, in general, and Section 6(b)(4) of the Act,\4\ in 
particular, because it provides for the equitable allocation of 
reasonable dues, fees and other charges among its members and other 
persons using its facilities.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the propposed rule change will 
impose any burden on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received from Members, Participants, or Others

    Written comments were neither solicited nor received with respect 
to the proposed rule change.

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

    Because the foregoing rule change establishes or changes a due, 
fee, or other charge imposed by the Exchange, it has become effective 
pursuant to Section 19(b)(3)(A) \5\ of the Act and subparagraph (f)(2) 
of Rule 19b-4 \6\ thereunder. At any time within 60 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

[[Page 5631]]

interest, for the protection of investors, or otherwise in furtherance 
of the purposes of the Act.
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    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 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 at the 
Commission's Public Reference Room. Copies of such filing also will be 
available for inspection and copying at the principal office of the 
Amex. All submissions should refer to File No. SR-Amex-2002-06 and 
should be submitted by February 27, 2002.

    For the commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
Margaret H. McFarland,
Deputy Secretary.
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    \7\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 02-2865 Filed 2-5-02; 8:45 am]
BILLING CODE 8010-01-M