[Federal Register Volume 67, Number 201 (Thursday, October 17, 2002)]
[Notices]
[Page 64187]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-26395]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-46631; File No. SR-NYSE-2002-24]


Self-Regulatory Organizations; Order Granting Approval of 
Proposed Rule Change by the New York Stock Exchange, Inc. (``NYSE'') to 
Amend NYSE Rule 342 (``Offices--Approval, Supervision and Control'')

October 9, 2002.
    On July 12, 2002, the New York Stock Exchange, Inc. (``NYSE'') 
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 NYSE Rule 342 (``Offices--Approval, Supervision and Control''). 
The proposed amendments would recognize the National Association of 
Securities Dealers' General Securities Principal Examination (``Series 
24 Examination'') as an acceptable qualification alternative to the 
General Securities Sales Supervisor Qualification Examination (``Series 
9/10 Examination'') for supervisory persons whose duties do not include 
the supervision of options or municipal securities sales activity. In 
addition, the amendments update and clarify certain provisions of the 
Rule. The NYSE filed an amendment to the proposed rule change on August 
16, 2002.\3\ The proposed rule change, as amended, was published for 
notice and comment in the Federal Register on September 5, 2002.\4\ The 
Commission received no comments on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See letter from Mary Yeager, Assistant Secretary, NYSE, to 
Nancy Sanow, Assistant Director, Division of Market Regulation, 
Commission, dated August 15, 2002, and attachments (``Amendment No. 
1'').
    \4\ Securities Exchange Act Release No. 46425 (August 28, 2002), 
67 FR 56863.
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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 \5\ and, in 
particular, the requirements of Section 6 of the Act \6\ and the rules 
and regulations thereunder. The Commission believes that the NYSE's 
amendments to NYSE Rule 342 to eliminate, when possible, duplicative 
examination qualification requirements and to update and clarify 
certain provisions of the Rule are reasonable.
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    \5\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f.
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    IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the 
Act,\7\ that the proposed rule change, as amended (SR-NYSE-2002-24), 
be, and hereby is, approved.
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    \7\ 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. 02-26395 Filed 10-16-02; 8:45 am]
BILLING CODE 8010-01-P