[Federal Register Volume 67, Number 229 (Wednesday, November 27, 2002)]
[Notices]
[Pages 70985-70986]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-30039]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-46850; File No. SR-Amex-2002-90]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the American Stock Exchange 
LLC Relating to Member Transaction Charges for Exchange-Traded Funds

November 19, 2002.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 \2\ thereunder, notice is hereby given 
that on November 4, 2002, the American Stock Exchange LLC (``Exchange'' 
or ``Amex'') filed with the Securities and Exchange Commission (``SEC'' 
or ``Commission'') the proposed rule change as described in Items I, 
II, and III below, which Items have been prepared by Amex. 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

    Amex proposes to add Treasury 10 FITR ETF, Treasury 5 FITR ETF, 
Treasury 2 FITR ETF, and Treasury 1 FITR ETF to the list of Exchange-
Traded Funds (``ETFs'') for which the Exchange pays non-reimbursed fees 
to third parties (included in Note 4 to the Amex Equity Fee Schedule). 
The Exchange is also amending Item 9 and Note 4 to the Equity Fee 
Schedule to add reference to Portfolio Depositary Receipts.
    The text of the proposed rule change is available at 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, Amex included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. Amex has prepared summaries, set forth in Sections A, B, 
and C below, of the most significant aspects of such statements.

[[Page 70986]]

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange has included in Note 4 to the Amex Equity Fee Schedule 
a list of ETFs that are subject to transaction charges set forth in 
Item 9 to the Equity Fee Schedule relating to ETFs for which the 
Exchange pays unreimbursed fees to a third party.\3\ The Exchange is 
adding to this list Treasury 10 FITR ETF, Treasury 5 FITR ETF, Treasury 
2 FITR ETF, and Treasury 1 FITR ETF.
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    \3\ See Exchange Act Release No. 46764 (November 1, 2002), 67 FR 
68704 (November 12, 2002) (SR-Amex-2002-81).
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    The Exchange is also amending Item 9 and Note 4 to the Equity Fee 
Schedule, as filed in SR-Amex-2002-81, to add reference to Portfolio 
Depositary Receipts, which was inadvertently omitted from Item 9 and 
Note 4. As noted in SR-Amex-2002-81, the fees that are the subject of 
that filing include ETFs, Portfolio Depositary Receipts and Index Fund 
Shares, for which Amex pays a non-reimbursed fee.
2. Basis
    The Exchange believes the proposed rule change is consistent with 
Section 6 of the Act,\4\ in general, and with Section 6(b)(4) of the 
Act,\5\ in particular, in that it is designed to provide for the 
equitable allocation of reasonable dues, fees, and other charges among 
its members and issuers and other persons using its facilities.
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    \4\ 15 U.S.C. 78f.
    \5\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    Amex does not believe that the proposed 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

    No comments were solicited nor received with respect to the 
proposed rule change.

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

    The foregoing proposed rule change has become effective pursuant to 
Section 19(b)(3)(A)(ii) of the Act \6\ and subparagraph (f)(2) of Rule 
19b-4 \7\ thereunder, because it establishes or changes a due, fee, or 
other charge. At any time within 60 days of November 4, 2002, the 
Commission may summarily abrogate such rule change if it appears to the 
Commission that such action is necessary or appropriate in the public 
interest, for the protection of investors, or otherwise in furtherance 
of the purposes of the Act.\8\
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    \6\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \7\ 17 CFR 240.19b-4(f)(2).
    \8\ See 15 U.S.C. 78s(b)(3)(C).
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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, as amended, 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 in the Commission's Public Reference Room. Copies of such 
filing will also be available for inspection and copying at the 
principal office of Amex. All submissions should refer to File No. SR-
Amex-2002-90 and should be submitted by December 18, 2002.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-30039 Filed 11-26-02; 8:45 am]
BILLING CODE 8010-01-P