[Federal Register Volume 70, Number 1 (Monday, January 3, 2005)]
[Notices]
[Page 131]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-27942]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-50860; File No. SR-NASD-2004-166]


Self Regulatory Organizations; National Association of Securities 
Dealers, Inc.; Order Granting Approval to Proposed Rule Change 
Modifying the Other Securities Fee Schedule

December 15, 2004.
    On October 29, 2004, the National Association of Securities 
Dealers, Inc. (``NASD''), through its subsidiary. The Nasdaq Stock 
Market, Inc. (``Nasdaq''), 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 modifying the Other Securities 
fee schedule in NASD Rule 4530 by establishing a new, separate, non-
refundable application fee for ``other securities'' and SEEDS and 
raising the applicable annual fee levels. The proposed rule change was 
published for comment in the Federal Register on November 10, 2004.\3\ 
The Commission received no comments on the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 50629 (November 3, 
2004), 69 FR 65237.
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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 association \4\ and, in 
particular, the requirements of section 15A of the Act \5\ and the 
rules and regulations thereunder. The Division finds specifically that 
the proposed rule change is consistent with section 15A(b)(5) of the 
Act,\6\ which requires that the rules of an association provide for the 
equitable allocation of reasonable dues, fees, and other charges among 
members and issuers and other persons using any facility or system 
which the association operates or controls. Specifically, the increase 
is intended to reflect the costs that Nasdaq has represented it incurs 
for the services provided to issuers.
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    \4\ In approving this proposed rule change, the Commission notes 
that it has considered the proposed rule's impact on efficiency, 
competition, and capital formation. 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78o-3.
    \6\ 15 U.S.C. 78o-3(b)(5).
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    It is therefore ordered, pursuant to section 19(b)(2) of the 
Act,\7\ that the proposed rule change (File NO. SR-NASD-2004-166) be, 
and hereby is, approved.
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    \7\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-27942 Filed 12-30-04; 8:45 am]
BILLING CODE 8010-01-M