[Federal Register Volume 68, Number 192 (Friday, October 3, 2003)]
[Notices]
[Page 57494]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-25118]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-48557; File No. SR-Amex-2003-71]


Self-Regulatory Organizations; Order Granting Approval of 
Proposed Rule Change by the American Stock Exchange LLC Relating to the 
Elimination of the Minor Floor Violation Disciplinary Committee

September 29, 2003.
    On July 25, 2003, the American Stock Exchange LLC (``Amex'' 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 change to eliminate the Amex's Minor Floor Violation 
Disciplinary Committee (``MFVDC''). Under the proposed rule change, the 
responsibilities of the MFVDC will be transferred to the Exchange's 
Enforcement Department.
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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 August 28, 2003.\3\ The Commission received no comments on 
the proposal.
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    \3\ See Securities Exchange Act Release No. 48382 (August 20, 
2003), 68 FR 51818.
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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\ In 
particular, the Commission believes that the proposed rule change is 
consistent with Section 6(b)(6)\5\ of the Act which requires, among 
other things, that the Exchange's rules provide that its members and 
persons associated with its members be appropriately disciplined for 
violations of the federal securities laws and the Exchange's rules. The 
Commission believes that consolidating the responsibility for 
initiating disciplinary action under Amex's minor rule violation plan 
exclusively in the Exchange's Enforcement Department should provide a 
more consistent process for the disciplining of Amex's members and 
persons associated with its members.
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    \4\ 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).
    \5\ 15 U.S.C. 78f(b)(6).
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    It Is Therefore Ordered, pursuant to Section 19(b)(2) of the 
Act,\6\ that the proposed rule change (SR-Amex-2003-71) be, and it 
hereby is, approved.
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-25118 Filed 10-2-03; 8:45 am]
BILLING CODE 8010-01-P