Federal Register / Vol. 65, No. 101 / Wednesday, May 24, 2000 / Notices 33611

42 15 U.S.C. 78f(b).

43 15 U.S.C. 78(b)(4)

44See supra note 3.

45 15 U.S.C. 78s(b)(3)(A)(ii).

46 17 CFR 240.19b–4(f)(2).

47 17 CFR 240.19b–4(f)(6)(iii).

related entity of the clearing firms, in

that the clearing firms provide

important and essential services by

contractual agreement with such

members; for instance, they guarantee

members’ trades. In addition, clearing

firms lend money and extend credit;

they also manage risk by way of tracking

positions and other monitoring

functions. Moreover, the clearing firm

offers various ancillary services to the

members, including stock executions

services, office space and other business

amenities. Therefore, given this close

connection between the members and

clearing firms or their affiliates, the

Exchange believes that the credit is

appropriate and should further their

joint interest in the well-being of the

Exchange.

2. Statutory Basis

For these reasons, the Exchange

believes that the proposed rule change

is consistent with Section 6(b) of the

Act, 42 in general, and with Section

6(b)(4) 43 in that it provides for the

equitable allocation of reasonable dues,

fees and other charges.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange believes that the

proposed rule imposes no inappropriate

burden on competition.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants or Others

Although written comments were not

solicited, the Exchange issued a circular

dated September 27, 1999 which

announced certain actions taken at the

September 1999 Phlx Board of

Governors meeting. These actions

included the approval of a monthly

credit of up to $1,000 and invited

telephone comments to be made to the

Chairman. The Exchange has received

two written comments; although these

comments do not specifically address

the proposed $1,000 credit, they do

make reference to a ‘‘rebate’’ and a

‘‘credit.’’ Both letters raised the issue,

among other things, of fairness in that

some members would receive the credit

and not others; this issue is addressed

in detail in section A.1. above.44

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The foregoing proposed rule change

has become immediately effective upon

filing pursuant to Section 19(b)(3)(A)(ii)

of the Act 45 and Rule 19b–4(f)(2) 46

thereunder because it establishes a due,

fee, or other charge. At any time within

60 days of the filing of such proposed

rule change, the Commission may

summarily abrogate such rule change if

it appears to the Commission that such

action is necessary or appropriate in the

public interest, for the protection of

investors, or otherwise in furtherance of

the purposes of the Act.

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.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, NW,

Washington, DC 20549–0609. 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, 450 Fifth Street NW.,

Washington, DC 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the Phlx. All submissions

should refer to File No. SR–Phlx–00–44

and should be submitted by June 14,

2000.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.47

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–13069 Filed 5–23–00; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

Reporting and Recordkeeping

Requirements Under OMB Review

AGENCY: Small Business Administration.

ACTION: Notice of Reporting

Requirements Submitted for OMB

Review.

SUMMARY: Under the provisions of the

Paperwork Reduction Act (44 U.S.C.

Chapter 35), agencies are required to

submit proposed reporting and

recordkeeping requirements to OMB for

review and approval, and to publish a

notice in the Federal Register notifying

the public that the agency has made

such a submission.

DATES: Submit comments on or before

June 23, 2000. If you intend to comment

but cannot prepare comments promptly,

please advise the OMB Reviewer and

the Agency Clearance Officer before the

deadline.

COPIES: Request for clearance (OMB 83–

1), supporting statement, and other

documents submitted to OMB for

review may be obtained from the

Agency Clearance Officer.

ADDRESSES: Address all comments

concerning this notice to: Agency

Clearance Officer, Jacqueline White,

Small Business Administration, 409 3rd

Street, SW., 5th Floor, Washington, DC

20416; and OMB Reviewer, Office of

Information and Regulatory Affairs,

Office of Management and Budget, New

Executive Office Building, Washington,

D.C. 20503.

FOR FURTHER INFORMATION CONTACT:

Jacqueline White, Agency Clearance

Officer, (202) 205–7044.

SUPPLEMENTARY INFORMATION:

Title: Request for Information

Concerning Portfolio Financing.

Form No: SBA Form-857.

Frequency: On Occasion.

Description of Respondents: SBIC

Investment Companies.

Annual Responses: 2,160.

Annual Burden: 2,160.

Jacqueline White,

Chief, Administrative Information Branch.

[FR Doc. 00– 12984 Filed 5–23–00; 8:45 am]

BILLING CODE 8025–01–P

SMALL BUSINESS ADMINISTRATION

Reporting and Recordkeeping

Requirements Under OMB Review

AGENCY: Small Business Administration.

ACTION: Notice of Reporting

Requirements Submitted for OMB

Review.

SUMMARY: Under the provisions of the

Paperwork Reduction Act (44 U.S.C.

Chapter 35), agencies are required to

submit proposed reporting and

recordkeeping requirements to OMB for

review and approval, and to publish a

notice in the Federal Register notifying

the public that the agency has made

such a submission.