[Federal Register Volume 67, Number 205 (Wednesday, October 23, 2002)]
[Rules and Regulations]
[Pages 65037-65038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-26883]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 200

[Release No. 34-46667]


Delegation of Authority to the Director of the Division of Market 
Regulation

AGENCY: Securities and Exchange Commission.

ACTION: Final rule.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
amending its rules to delegate authority to the Director of the 
Division of Market Regulation (``Director'') to publish acknowledgments 
of receipt of notices filed with the Commission pursuant to Section 
6(g) of the Securities Exchange Act of 1934 (``Exchange Act'') by 
exchanges registering as national securities exchanges to trade 
security futures products. This delegation of authority will facilitate 
the timely publication of such acknowledgments, which is required by 
Section 6(g)(3) of the Exchange Act.

EFFECTIVE DATE: October 23, 2002.

FOR FURTHER INFORMATION CONTACT: Jennifer Colihan, Special Counsel, at 
(202) 942-0735 or Mia Zur, Law Clerk, at (202) 942-7309, Office of 
Market Supervision, Division of Market Regulation, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549-1001.

SUPPLEMENTARY INFORMATION: The Commission is adopting an amendment to 
Rule 30-3 of its Rules of Organization and Program Management governing 
Delegations of Authority to the Director.\1\ The Commission is adding 
paragraph (a)(77) to Rule 30-3 to authorize the Director to publish 
acknowledgments of receipt of notices of registration submitted 
pursuant to Section 6(g) of the Exchange Act.\2\
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    \1\ 17 CFR 200.30-3.
    \2\ 15 U.S.C. 78f(g).
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    Section 6(g) of the Exchange Act provides that an exchange may 
register as a national securities exchange solely for the purposes of 
trading security futures products by filing a written notice with the 
Commission if the exchange is designated as a contract market by the 
Commodity Futures Trading Commission or is registered as a derivative 
transaction execution facility under Section 5a of the Commodity 
Exchange Act. Rule 6a-4 under the Exchange Act provides that an 
exchange wishing to become registered under Section 6(g) must provide 
written notice on Form 1-N. Pursuant to Section 6(g)(2)(B) of the 
Exchange Act, such registrations are effective contemporaneously with 
the submission of the written notice.\3\ Section 6(g)(3) of the 
Exchange Act directs the Commission to promptly publish acknowledgments 
of receipt of all such notices in the Federal Register. This delegation 
of authority to the Director is intended to conserve Commission 
resources by permitting the Division of Market Regulation to publish 
acknowledgments of receipt of Form 1-N. Nevertheless, the staff may 
submit matters to the Commission for consideration as it deems 
appropriate.
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    \3\ 15 U.S.C. 78f(g)(2)(B).
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    The Commission finds, in accordance with Section 553(b)(3)(A) of 
the Administrative Procedures Act,\4\ that these amendments relate 
solely to agency organization, procedure, or practice, and do not 
relate to a substantive rule. Accordingly, notice, opportunity for 
public comment, and publication of the amendment prior to its effective 
date are unnecessary.
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    \4\ 5 U.S.C. 553(b)(3)(A).
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List of Subjects in 17 CFR Part 200

    Administrative practice and procedure, Authority delegations 
(Government agencies), Organization and functions (Government 
agencies).

Text of Amendment

    In accordance with the preamble, the Commission hereby amends Title 
17, Chapter II of the Code of Federal Regulations as follows:

PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND 
REQUESTS

Subpart A--Organization and Program Management

    1. The authority citation for Part 200, subpart A, continues to 
read, in part, as follows:

    Authority: 15 U.S.C. 77s, 78d-1, 78d-2, 78w, 78ll(d), 78mm, 79t, 
77sss, 80a-37, 80b-11, unless otherwise noted.
* * * * *

    2. Section 200.30-3 is amended by adding paragraph (a)(77) to read 
as follows:


Sec.  200.30-3  Delegation of authority to Director of Division of 
Market Regulation.

* * * * *

[[Page 65038]]

    (a) * * *
    (77) Pursuant to Section 6(g)(3) of the Act, 15 U.S.C. 78f(g)(3), 
to publish acknowledgement of receipt of a notice of registration as a 
national securities exchange for the sole purpose of trading security 
futures products under Section 6(g) of the Act and Rule 6a-4 of the Act 
(17 CFR 240.6a-4).
* * * * *

    By the Commission.

    Dated: October 16, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-26883 Filed 10-22-02; 8:45 am]
BILLING CODE 8010-01-P