[Federal Register Volume 70, Number 149 (Thursday, August 4, 2005)]
[Notices]
[Pages 44959-44960]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-4151]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-52162, File No. SR-MSRB-2005-08]


Self-Regulatory Organizations; Municipal Securities Rulemaking 
Board; Order Approving Proposed Rule Change Regarding Amendments to 
Rule G-40, on Electronic Mail Contacts, and Form G-40

July 29, 2005.
    On May 26, 2005, 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 consisting of amendments to Rule 
G-40, on electronic mail contacts, and Form G-40 that would: (i) 
Eliminate the need for paper submission of original forms; (ii) require 
each broker, dealer and municipal securities dealer (collectively 
``dealers'') to maintain an Internet electronic mail account to permit 
communication with the MSRB; and (iii) require each dealer to review 
and, if necessary, update its Primary Contact information each calendar 
quarter. The proposed rule change was published for comment in the 
Federal Register on June 28, 2005.\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. 51892 (June 21, 
2005), 70 FR 37142 (June 28, 2005).
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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)(I) of the Act which authorizes the 
MSRB to adopt rules that provide for the operation and administration 
of the MSRB.\5\ In particular, the Commission finds that the proposed 
rule change will facilitate effective electronic communication between 
dealers and the MSRB, and that by ensuring MSRB requirements for 
electronic communication are substantially similar to NASD 
requirements, it will facilitate dealer understanding of, and 
compliance with, these requirements.
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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)(I).

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[[Page 44960]]

    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\6\ that the proposed rule change (SR-MSRB-2005-08) be, and hereby 
is, approved.
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    \6\ 6 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-4151 Filed 8-3-05; 8:45 am]
BILLING CODE 8010-01-P