[Federal Register Volume 70, Number 40 (Wednesday, March 2, 2005)]
[Notices]
[Pages 10159-10160]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-828]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-51242; File No. SR-PCX-2004-131]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the Pacific Exchange, Inc. 
Relating to FOCD Forms Due Date

February 23, 2005.
    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 23, 2004, the Pacific Exchange, Inc. (``PCX'' or 
``Exchange''), through its wholly owned subsidiary PCX Equities, Inc. 
(``PCXE''), filed with the Securities and Exchange Commission 
(``Commission'' or ``SEC'') the proposed rule change as described in 
Items I, II and III below, which Items have been prepared by the self-
regulatory organization. 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.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The PCX proposes to amend the PCXE rules to change the due date of 
Financial and Operational Compliance Department (``FOCD'') Forms 
relating to SEC Rule X-17A-5. The text of the proposed rule change is 
below. Proposed new language is in italics. Proposed deletions are in 
brackets.

Rules of the Pacific Exchange, Inc.

Rule 4--Capital Requirements, Financial Reports, Margins

* * * * *

Part II Quarterly Reports

    Rule 4.5 (c) Two manually signed copies of Part II of SEC Form X-
17A-5 shall be filed for each calendar quarter by any OTP Holder or OTP 
Firm which carries or clears accounts for customers. Such report shall 
be due by the seventeenth [fifteenth] business [calendar] day following 
the end of the calendar quarter being reported upon.

Part IIA Quarterly Reports

    Rule 4.5 (d) Two manually signed copies of Part IIA of SEC Form X-
17A-5 shall be filed for each calendar quarter by any OTP Holder or OTP 
Firm which does not carry or clear accounts for customers. Such report 
shall be due by the seventeenth [fifteenth] business [calendar] day 
following the end of the calendar quarter being reported upon.

Part II or Part IIA Filings on Other Than Calendar Quarters

    Rule 4.5 (e) An OTP Holder or OTP Firm shall file an additional 
Part II or Part IIA of SEC Form X-17A-5, as appropriate, within 
seventeen [fifteen] business [calendar] days after the date selected 
for the annual audited financial statements of the OTP Holder or OTP 
Firm, pursuant to the provisions of Rule 4.10, where such date does not 
coincide with the end of a calendar quarter.
* * * * *

Rules of PCX Equities, Inc.

Rule 4--Capital Requirements, Financial Reports, Margins

* * * * *

Part II Quarterly Reports

    Rule 4.5 (b) Two manually signed copies of Part II of SEC Form X-
17A-5 shall be filed for each calendar quarter by any ETP Holder which 
carries or clears accounts for customers. Such report shall be due by 
the seventeenth [fifteenth] business [calendar] day following the end 
of the calendar quarter being reported upon.

Part IIA Quarterly Reports

    Rule 4.5 (c) Two manually signed copies of Part IIA of SEC Form X-
17A-5 shall be filed for each calendar quarter by any ETP Holder which 
does not carry or clear accounts for customers. Such report shall be 
due by the seventeenth [fifteenth] business [calendar] day following 
the end of the calendar quarter being reported upon.

Part II or Part IIA Filings on Other Than Calendar Quarters

    Rule 4.5 (e) An ETP Holder shall file an additional Part II or Part 
IIA of SEC Form X-17A-5, as appropriate, within seventeen [fifteen] 
business [calendar] days after the date selected for the annual audited 
financial statements of the ETP Holder, pursuant to the provisions of 
Rule 4.10, where such date does not coincide with the end of a calendar 
quarter.

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 self-regulatory organization 
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 self-regulatory organization 
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

Purpose
    The Exchange proposes to amend PCX Rules 4.5(c)-(e) and PCXE Rules 
4.5(b)-(d) to update the due date of Quarterly Reports (SEC Form X-17A-
5). The PCX proposes to amend the PCXE rules to adopt new fees for late 
Financial and Operational Compliance Department (``FOCD'') required 
forms. The Exchange currently requires that SEC Form X-17A-5 be filed 
the fifteenth calendar day following the end of the quarter being 
reported upon. The Exchange proposes to amend the date to the 
seventeenth business day following the end of the calendar quarter 
being reported upon. This modification is an administrative change to 
make the Exchange rule due dates consistent with the filing 
requirements for such forms set forth in SEC Rule 17a-5.\3\
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    \3\ 17 CFR 240.17a-5.
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Basis
    The Exchange believes that the proposal is consistent with Section 
6(b) \4\ of the Act, in general, and Section 6(b)(4) \5\ of the Act, in 
particular, in that it provides for the equitable allocation of 
reasonable dues, fees and other charges among its OTP Holders, OTP 
Firms, ETP Holders, issuers, and other persons using its facilities.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(4).
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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 that is not necessary or appropriate 
in furtherance of the purposes of the Act.

[[Page 10160]]

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

    Written comments on the proposed rule change were neither solicited 
nor received.

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

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(iii) \6\ of the Act and subparagraph (f)(3) of Act Rule 
19b-4 thereunder,\7\ because it is concerned solely with the 
administration of the Exchange. At any time within 60 days of the 
filing of such proposed rule change, the Commission could have 
summarily abrogated such rule change if it appeared to the Commission 
that such action was necessary or appropriate in the public interest, 
for the protection of investors, or otherwise in furtherance of the 
Act.
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    \6\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \7\ 17 CFR 240.19b-4(f)(3).
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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. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to [email protected]. Please include 
File Number SR-PCX-2004-131 on the subject line.

Paper Comments

     Send paper comments in triplicate to Jonathan G. Katz, 
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW., 
Washington, DC 20549-0609.
    All submissions should refer to File Number SR-PCX-2004-131. This 
file number should be included on the subject line if e-mail is used. 
To help the Commission process and review your comments more 
efficiently, please use only one method. 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 PCX. All comments 
received will be posted without change; the Commission does not edit 
personal identifying information from submissions. You should submit 
only information that you wish to make available publicly. All 
submissions should refer to File Number SR-PCX-2004-131 and should be 
submitted on or before March 23, 2005.

    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).

Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-828 Filed 3-1-05; 8:45 am]
BILLING CODE 8010-01-P