[Federal Register Volume 68, Number 247 (Wednesday, December 24, 2003)]
[Notices]
[Pages 74663-74664]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-31644]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-48937; File No. SR-Amex-2003-109]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the American Stock Exchange 
LLC To Correct a Numerical Error on a Previously Approved Proposed Rule 
Change

December 17, 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 December 11, 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 Amex 
has designated this proposal as one concerned solely with the 
administration of the Amex pursuant to section 19(b)(3)(A)(iii) of the 
Act,\3\ and Rule 19b-4(f)(3) \4\ thereunder, which renders the proposal 
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)(iii).
    \4\ 17 CFR 240.19b-4(f)(3).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Amex proposes to change the rule number originally assigned to 
Amex Rule 359 (Mandatory Continuing Education for all Floor Members and 
Mandatory Continuing Education and Initial Test Requirements for Floor 
Clerks of Members and Member Firms) to Amex Rule 359A. The Amex 
proposes no substantive changes to the rule. The text of the proposed 
rule change is available at the 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, the Exchange included statements 
concerning the purpose of and basis for its proposal and discussed any 
comments it received regarding the proposal. The text of these 
statements may be examined at the places specified in Item IV below. 
The Amex 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 proposes to replace the rule number originally 
assigned to Amex Rule 359 (Mandatory Continuing Education for all Floor 
Members and Mandatory Continuing Education and Initial Test 
Requirements for Floor Clerks of Members and Member Firms) in SR-Amex-
2003-06,\5\ and replace it with Amex Rule 359A. The same rule number 
was chosen inadvertently in a subsequent proposed rule change after SR-
Amex-2003-06 was filed on January 31, 2003, and Amendment No. 1 was 
filed on May 20, 2003. The other proposed rule change bearing a similar 
rule number was approved ahead of SR-Amex-2003-06.
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    \5\ Securities Exchange Act Release No. 48258 (July 30, 2003), 
68 FR 46674 (August 6, 2003).
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2. Statutory Basis
    The Exchange believes that the proposal is consistent with section 
6(b) of the Act \6\ in general and furthers the objectives of section 
6(b)(1) of the Act \7\ in particular in that it is designed to enforce 
compliance by its members and persons associated with its members, with 
the rules of the Exchange.
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    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(1).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange 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 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 effective pursuant to section 
19(b)(3)(A)(iii) of the Act \8\ and subparagraph (f)(3) of Rule 19b-4 
thereunder,\9\ because it is concerned solely with the administration 
of the Amex.\10\ At any time within 60 days of the filing of the 
proposed rule change, 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.
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    \8\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \9\ 17 CFR 240.19b-4(f)(3).
    \10\ The Commission notes that the Amex referenced section 
19(b)(3)(A)(ii) of the Act as the rationale for the instant proposed 
rule change being effective upon filing with the Commission. 15 
U.S.C. 78f(b)(3)(A)(ii). See SR-Amex-2003-109, page 6 of 7. The 
Amex's reference to this section of the Act is improper. The 
Commission assumes, however, that the error is a typographical 
error, and did not, in this instance, require the Amex to amend the 
proposed rule change to correct its mistake.
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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 proposal 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. Comments 
may also be submitted electronically at the following e-mail address: 
[email protected]. All comment letters should refer to File No. SR-
Amex-2003-109. This file number should be included on the subject line 
if e-mail is used. To help the Commission process and review comments 
more efficiently, comments should be sent in hardcopy or by e-mail but 
not by both methods. Copies of the

[[Page 74664]]

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 Amex. All 
submissions should refer to file number SR-Amex-2003-109 and should be 
submitted by January 14, 2004.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-31644 Filed 12-23-03; 8:45 am]
BILLING CODE 8010-01-P