[Federal Register Volume 70, Number 10 (Friday, January 14, 2005)]
[Notices]
[Page 2684]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-156]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-51000, File No. SR-MSRB-2004-08]


Self-Regulatory Organizations; Municipal Securities Rulemaking 
Board; Order Approving Proposed Rule Change Relating to Amendments to 
MSRB Rule G-34, on CUSIP Numbers and New Issue Requirements, To 
Facilitate Real-Time Transaction Reporting of Trades in New Issue 
Municipal Securities

January 7, 2005.
    On November 18, 2004, the Municipal Securities Rulemaking Board 
(``MSRB'' or ``Board''), filed with the Securities and Exchange 
Commission (``SEC'' or ``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 amend its Rule G-34, on CUSIP 
numbers and new issue requirements, to facilitate real-time transaction 
reporting of trades in new issue municipal securities. The proposed 
rule change was published for comment in the Federal Register on 
December 7, 2004.\3\ The Commission received no comment letters 
regarding 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. 50773 (December 1, 
2004), 69 FR 70731 (December 7, 2004).
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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 the MSRB \4\ and, in particular, the 
requirements of Section 15B(b)(2)(C) of the Act and the rules and 
regulations thereunder.\5\ Section 15B(b)(2)(C) of the Act requires, 
among other things, that the MSRB's rules be 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 regulating, clearing, settling, processing 
information with respect to, and facilitating transactions in municipal 
securities, to remove impediments to and perfect the mechanism of a 
free and open market in municipal securities, and, in general, to 
protect investors and the public interest.\6\ In particular, the 
Commission finds that the proposed rule change will facilitate the 
processing of transactions in new issue municipal securities so that 
such transactions can be reported to the MSRB in real-time and prices 
of such transactions can be disseminated on a contemporaneous basis.
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    \4\ In approving this rule 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-4(b)(2)(C).
    \6\ Id.
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\7\ that the proposed rule change (SR-MSRB-2004-08) be, and hereby 
is, approved.
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    \7\ 15 U.S.C. 78s(b)(2).
    \8\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\8\
Jill M. Peterson,
Assistant Secretary.
 [FR Doc. E5-156 Filed 1-13-05; 8:45 am]
BILLING CODE 8010-01-P