[Federal Register Volume 70, Number 152 (Tuesday, August 9, 2005)]
[Notices]
[Pages 46227-46228]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-4273]



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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-52130]


Self-Regulatory Organizations; Declaration of Effectiveness of 
American Stock Exchange LLC Plan for the Implementation of Parts II and 
IIA of Form X-17A-5 Financial and Operational Combined Uniform Single 
Report (``FOCUS Report'') and Schedule I Thereunder as Amended

July 27, 2005.
    On September 17, 2004,\1\ the American Stock Exchange LLC (``Amex'' 
or ``Exchange'') submitted to the Securities and Exchange Commission 
(``Commission'') an amended FOCUS Filing Plan (``Amended Plan'') 
pursuant to Rule 17a-5(a)(4) \2\ under the Securities Exchange Act of 
1934 (``Act'').\3\ The Amended Plan \4\ supersedes and replaces the 
Exchange's current FOCUS Filing Plan improving the efficiency of filing 
the FOCUS reports and the delivery to the Commission.\5\
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    \1\ See letter from Glen P. Barrentine, Senior Vice President 
and Chief Regulatory Officer, Amex, to Michael A. Macchiaroli, 
Associate Director, Division of Market Regulation (``Division''), 
Commission, dated September 16, 2004. This filing superseded the 
original filing to amend the FOCUS plan filed by Amex on March 26, 
2004, which was filed in response to comments from Commission staff. 
See letter from Glen P. Barrentine, Senior Vice President and Chief 
Regulatory Officer, Amex, to Michael A. Macchiaroli, Associate 
Director, Division of Market Regulation (``Division''), Commission, 
dated March 25, 2004.
    \2\ 17 CFR 240.17a-5(a)(4).
    \3\ 15 U.S.C. 78a et. seq.
    \4\ Attached hereto as Exhibit A.
    \5\ Amex agreed to minor revisions by Commission Staff made to 
the first paragraph. E-mail correspondence between William Curran, 
Regulatory Counsel, Exchange, and E. David Hwa, Special Counsel, 
Division of Market Regulation, Commission (July 26, 2005).
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    The Amended Plan supersedes all such plans previously submitted by 
the Exchange, and sets forth (i) the FOCUS Report filing requirements 
applicable to Exchange sole members and member organizations and to 
Exchange members and member organizations designated to the Exchange 
pursuant to Rule 17d-1 under the Act for examination for compliance 
with applicable financial responsibility rules; (ii) the provisions and 
procedures relating to the maintenance of records containing the 
information required to be filed with the Exchange; and (iii) the 
provisions and procedures relating to transmitting this information to 
the Commission.
    The Exchange believes that the Amended Plan complies with the 
requirements of Rule 17a-5(a)(4). Among its other features, the Amended 
Plan eliminates the FOCUS Part I filing requirement. This standardizes 
the Exchange's requirements with those of other self-regulatory 
organizations while also reducing the filing burden on Amex members. In 
addition, the Amended Plan covers electronic filing of FOCUS 
Reports.\6\
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    \6\ The Amex intends to continue the process that is currently 
in place, whereby the NASD generates and submits the FOCUS 
information data electronically to the Commission on behalf of the 
Amex.
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    The Commission has reviewed the Amended Plan and, having due regard 
for the fulfillment of the Commission's duties and responsibilities 
under the provisions of the Act, declares the Amended Plan to be 
effective.

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)(30).
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Jill M. Peterson,
Assistant Secretary.

Exhibit A \8\--American Stock Exchange LLC Plan for the Implementation 
of Parts II and IIA of Form X-17A-5 Financial and Operational Combined 
Uniform Single Report (``FOCUS Report'') and Schedule I Thereunder as 
Amended

    1. The American Stock Exchange LLC (the ``Exchange'') hereby files 
pursuant to Rule 17a-5(a)(4) under the Securities Exchange Act of 1934 
(the ``Act'') a plan (``Plan'') implementing Parts II and IIA of 
Securities and Exchange Commission (``Commission'') Form X-17A-5. This 
Plan, which supersedes all such plans previously submitted by the 
Exchange, sets forth (i) the FOCUS Report (Form X-17A-5) filing 
requirements (the ``Requirements'') applicable to Exchange sole members 
and member organizations and to Exchange members and member 
organizations designated to the Exchange pursuant to Rule 17d-1 under 
the Act for examination for compliance with applicable financial 
responsibility rules; (ii) the provisions and procedures relating to 
the maintenance of records containing the information (the 
``Information'') required to be filed with the Exchange in accordance 
with the Requirements; and (iii) the provisions and procedures relating 
to the transmittal of the Information by the Exchange to the 
Commission.
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    \8\ The Commission requested that the Exchange make a technical 
change to the Amended Plan language concerning the specific 
paragraph numbers referenced in paragraph 11. E-mail correspondence 
between William Curran, Regulatory Counsel, Exchange, and Sheila D. 
Swartz, Special Counsel, Division of Market Regulation, Commission 
(December 7, 2004).
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    2. Every member or member organization that clears transactions or 
carries customer accounts shall file with the Exchange a FOCUS Part II 
Report each month, on or before the 17th business day of the next 
month.
    3. Every member or member organization that does not clear 
transactions nor carry customer accounts, except for such members or 
member organizations that are covered by paragraphs (b)(1) or (b)(2) of 
Rule 15c3-1 under the Act, shall file with the Exchange a FOCUS Part 
IIA Report each calendar quarter, on or before the 17th business day of 
the next month following the end of the calendar quarter.
    4. Every member or member organization that does not file with the 
Exchange pursuant to paragraphs 2 or 3 of this Plan shall file FOCUS 
Part IIA (Short Form) each calendar quarter on or before the 17th 
business day of the next month following the end of the calendar 
quarter.
    5. Whenever the Commission or the Exchange shall require, every 
member or member organization subject to the above reporting 
requirements shall file Part II or Part IIA of Form X-17A-5 and such 
other financial or operational information as the Commission or the 
Exchange shall specify in writing. Such filing shall be made on or 
before the 17th business day of each month or as otherwise specified by 
the Commission or the Exchange in writing.
    6. Every member or member organization that is subject to the 
provisions of paragraph (d) of Rule 17a-5 providing for the annual 
filing of audited financial statements shall file an additional FOCUS 
Part II or Part IIA Report, as applicable, with the Exchange within 
seventeen (17) business days after the date selected for the annual 
audit whenever such date is other than a calendar quarter.
    7. Upon written application by a member or member organization to 
the Exchange, the Exchange may extend the time for filing the 
information required by the above paragraphs. The Exchange will 
maintain a record of each request granted, in accordance with Rule 17a-
1 under the Act.
    8. For the quarter ending December 31st of each year, every member 
or member organization shall file with the Exchange Schedule I of Form 
X-17A-5 with the Exchange within 17 business days following the end of 
the calendar quarter. Such schedules shall be filed jointly with the 
member or member organization's normal quarterly filing of Part II, 
Part IIA or Part IIA (Short Form) of Form X-17A-5 for the same period 
ending date.

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    9. Members and member organizations shall file Part II, Part IIA, 
or Part IIA (Short Form) electronically, in accordance with such 
instructions as the Exchange shall provide from time-to-time.
    10. The information supplied the Exchange on Part II, Part IIA or 
Part IIA (Short Form) of Form X-17A-5 by members and member 
organizations participating in this Plan which are also members of one 
or more national securities exchanges or registered national securities 
association shall be furnished by the Exchange to such other exchange, 
exchanges or registered national securities association in a format and 
on a schedule which shall be mutually agreed upon.
    11. The Information supplied the Exchange on reports filed on a 
quarterly basis by members or member organizations pursuant to 
paragraphs 2, 3, and 4 shall be furnished to the Commission on a 
quarterly basis on a date not later than 60 calendar days following the 
quarter-ending reporting date; and the Information supplied the 
Exchange on reports filed by members or member organizations pursuant 
to paragraph 8 of the Plan shall be furnished to the Commission on a 
quarterly basis on a date not later than 100 calendar days following 
the quarter-ending reporting date. The Exchange will deem confidential 
all Information supplied to the Exchange. Such Information shall be 
supplied to the Commission in such format as requested by the 
Commission from time-to-time.
    12. From time-to-time, the Exchange may enter into agreements with 
another national securities exchange or registered national securities 
association for the purpose of providing or receiving data processing 
services related hereto. Without limitation, such services may include 
providing a means to file required reports, the maintenance of the 
information provided thereby, and the provision of such information to 
the Commission.
[FR Doc. E5-4273 Filed 8-8-05; 8:45 am]
BILLING CODE 8010-01-P