[Federal Register Volume 67, Number 59 (Wednesday, March 27, 2002)]
[Notices]
[Page 14759]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-7293]



[[Page 14759]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-45594; File No. SR-PCX-2002-05]


Self Regulatory Organizations; Pacific Exchange, Inc.; Order 
Granting Approval to Proposed Rule Change Relating to Hearing Fees for 
Issuer Requests for Review of Delisting Decisions

March 19, 2002.
    On January 18, 2002, the Pacific Exchange, Inc. (``PCX''), through 
its wholly owned subsidiary PCX Equities, Inc. (``PCXE'' or 
``Corporation''), 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 amend PCXE Rule 5.5(m) to require issuers to 
pay an appeal hearing fee of $2,500 in connection with their appeal of 
the Corporation's decision to delist a security.
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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 February 12, 2002.\3\ The Commission received no comments 
on the proposal.
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    \3\ See Securities Exchange Act Release No. 45396 (February 5, 
2002), 67 FR 6569.
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    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)(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.
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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)(4).
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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-PCX-2002-05) be, and 
it hereby is, approved.
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    \1\ 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. 02-7293 Filed 3-26-02; 8:45 am]
BILLING CODE 8010-01-P