[Federal Register Volume 67, Number 113 (Wednesday, June 12, 2002)]
[Notices]
[Page 40366]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-14780]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-46041; File No. SR-PHLX-2002-29]


Self Regulatory Organizations; Philadelphia Stock Exchange, Inc.; 
Order Granting Approval to Proposed Rule Change Adopting Phlx Rule 757, 
Anti-Money Laundering Compliance Program

June 6, 2002.
    On April 24, 2002, the Philadelphia Stock Exchange, Inc. (``Phlx'' 
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 thereunder,\2\ a 
proposed rule changed to adopted Phlx Rule 757, Anti-Money Laundering 
Compliance Program. The proposed rule change was published for comment 
in the Federal Register on May 3, 2002.\3\ The Commission received no 
comments on the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 45830 (April 26, 
2002), 67 FR 22472.
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    The Commission has reviewed carefully the Phlx's proposed rule 
change, and finds, for the reasons set forth below, 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, and in particular, with the requirements of Section 6(b)(5) 
of the Act.\4\ Section 6(b)(5) requires the rules of a national 
securities exchange be designed to prevent fraudulent and manipulative 
acts and practices, to promote just and equitable principles of trade, 
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. The Commission finds that the Phlx's proposed rule change 
accurately, reasonably, and efficiently implements the requirements of 
the Uniting and Strengthening America by Providing Appropriate Tools 
Required to Intercept and Obstruct Terrorism Act of 2001 (the USA 
PATRIOT Act) as it applies to Phlx members. The Commission notes that 
anti-money laundering compliance programs will evolve over time, and 
that improvements to anti-money laundering compliance programs are 
inevitable as Phlx members find new ways to combat money laundering and 
to detect suspicious activities.
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    \4\ 15 U.S.C. 78f(b)(5).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\5\ that the proposed rule change (SR-PHLX-2002-29) be, and it 
hereby is, approved.
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    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-14780 Filed 6-11-02; 8:45 am]
BILLING CODE 8010-01-M