[Federal Register Volume 68, Number 229 (Friday, November 28, 2003)]
[Notices]
[Pages 66906-66908]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-29661]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-48814; File No. SR-Amex-2003-96]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the American Stock Exchange 
LLC To Revise Its Registration Fees

November 20, 2003.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that 
on November 13, 2003, the American Stock Exchange LLC (``Amex'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I, II 
and III below, which Items have been prepared by the Exchange. The 
Exchange has designated this proposal as one establishing or changing a 
due, fee or other charge imposed by the self-regulatory organization 
under Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(2) 
thereunder,\4\ which renders the proposed rule change effective upon 
filing with the Commission. 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.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The American Stock Exchange LLC proposes to revise its registration 
fees. The text of the proposed rule change is set forth below. Proposed 
new language is in italics; proposed deletions are in [brackets].
* * * * *
    Floor Fees and Booth Rental Fees. No change.
    Member Fees. No change.
    Registration and IDC Fees

[[Page 66907]]

    I. Registration
    Initial Processing Fee \(1)\--$145
    Disclosure Processing Fee \(2)\--95
    Annual Renewal Processing Fee \(3)\--80 [77]
    Fingerprint Card Processing Fee \(4)\--35
    Fingerprint Results Processed thru other \(5)\--13
    Transfer Processing Fee \(6)\--125
    Web CRD System Transition Fee \(7)\--85 (one time)
    Terminations Fee \(8)\--35 [30] (one time)
    II. Options IDC No change

Notes

    \(1)\ The Initial Processing Fee will be assessed for all 
initial and dual registration Form U-4 filings. $85.00 of this fee 
will be retained by NASD as its CRD Processing Fee and $60.00 will 
be disbursed by NASD to Amex as its Initial Registration Fee.
    \(2)\ The Disclosure Processing Fee will be assessed in 
connection with Forms U-4 and U-5 for all filings that contain new 
or amended disclosure information. The $95.00 fee will be retained 
by NASD as its Disclosure Processing Fee.
    \(3)\ The Annual System Processing Fee will be assessed during 
the yearly renewal cycle. $30.00 of this fee will be retained by 
NASD as its Annual System Processing Fee assessed during renewals 
and $50.00 [$47.00] will be disbursed by NASD to Amex as its Annual 
Maintenance Fee.
    \(4)\ The Fingerprint Processing Fee will be assessed for 
receiving hard copy fingerprint cards as part of the registration 
function and submitting and processing the results of each card 
received. The $35.00 fee will be retained by NASD as its Fingerprint 
Card Processing Fee.
    \(5)\ The Fee for Posting Fingerprint Results Processed through 
Other SROs will be assessed for processing the results of 
fingerprints processed by the FBI through an SRO other than NASD. 
The $13.00 fee will be retained by NASD.
    \(6)\ The Transfer Processing Fee will be assessed for all 
transfer and re-license Form U-4 filings. $85.00 of this fee will be 
retained by NASD as its CRD Processing Fee and $40.00 will be 
disbursed by NASD to Amex as its Transfer Fee.
    \(7)\ The Web CRD System Transition Fee is a one time fee that 
will be assessed on all individuals whose U-4s will be refiled 
electronically with Web CRD as part of the Exchange's migration to 
Web CRD. The $85.00 fee will be retained by NASD as its CRD 
Processing Fee.
    \(8)\ The Termination Fee will be assessed in connection with 
all Form U-5 filings. This $35.00 [$30.00] fee will be disbursed by 
NASD to Amex as its Terminations Fee.

    Amex Equity Fee Schedule through Other Fees. (No change)
* * * * *

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

    In its filing with the Commission, the Exchange 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. The Exchange has prepared summaries, set forth in 
Sections A, B, and C below, of the most significant aspects of such 
statements.

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

1. Purpose
    The Exchange requires persons who perform specified functions for 
members and member organizations to be registered with the Exchange. 
The Exchange also requires members and member organizations to report 
terminations of registered persons. All registration filings currently 
are made through the NASD's Central Registration Depository system. As 
a result, Amex registration fees typically reflect a combination of 
Amex and NASD charges. The Amex and other self-regulatory organizations 
use the registration process (1) to ensure that qualified persons are 
employed in the securities industry, and (2) to identify possible 
regulatory issues associated with individuals who seek to become 
associated with a member or member organization or whose registration 
is terminated.
    The Exchange is proposing to increase the Amex portion of the 
annual registration renewal fee and the Exchange's termination fee. 
These increases would amount to $3.00 for the renewal fee and $5.00 for 
the termination fee.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act \5\ in general and furthers the objectives 
of Section 6(b)(4) \6\ in particular in that it is designed to provide 
for the equitable allocation of reasonable dues, fees, and other 
charges among its members, issuers and other persons using its 
facilities.
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    \5\ 15 U.S.C. 78f.
    \6\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange believes that the proposed fee change will impose no 
burden on competition that is not necessary or appropriate in 
furtherance of the purposes of the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

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

    The proposed rule change has become immediately effective pursuant 
to Section 19(b)(3)(A)(ii) of the Act,\7\ and subparagraph (f)(2) of 
Rule 19b-4 thereunder,\8\ in that it establishes or changes a due, fee, 
or other charge imposed by the self-regulatory organization. At any 
time within 60 days of the filing of such proposed rule change, the 
Commission may summarily abrogate the 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.
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    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \8\ 17 CFR 240.19b-4(f)(2).
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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 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 the 
Exchange. All submissions should refer to File No. SR-Amex-2003-96 and 
should be submitted by December 19, 2003.


[[Page 66908]]


    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. 03-29661 Filed 11-26-03; 8:45 am]
BILLING CODE 8010-01-P