[Federal Register Volume 68, Number 207 (Monday, October 27, 2003)]
[Notices]
[Page 61239]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-27006]



[[Page 61239]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-48666; File No. SR-Amex-2003-83]


Self-Regulatory Organizations; Order Granting Approval of 
Proposed Rule Change by the American Stock Exchange LLC Relating to 
Listing Standards Applicable to Units

October 21, 2003.
    On September 5, 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 clarify the listing requirements applicable to 
units.
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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 September 16, 2003.\3\ The Commission received no comments 
on the proposal. This order approves the proposed rule change.
    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)(5) of the Act \5\ in particular, in that 
it is 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 facilitating 
transactions in securities, to remove impediments to and perfect the 
mechanism of a free and open market and a national market system, to 
protect investors and the public interest and is not designed to permit 
unfair discrimination between customers, issuers, brokers, or dealers. 
The Commission believes that the proposed rule change should assist 
issuers by clarifying the listing standards applicable to units and 
similar securities. Finally, the Commission believes that the expanded 
disclosure requirements contemplated by the proposed rule change should 
provide investors with timely information about these securities.
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    \3\ See Securities Exchange Act Release No. 48464 (September 9, 
2003), 68 FR 54250.
    \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)(5).
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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-2003-83) 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. 03-27006 Filed 10-24-03; 8:45 am]
BILLING CODE 8010-01-P