33398 Federal Register / Vol. 65, No. 100 / Tuesday, May 23, 2000 / Notices

7 In approving this rule, the Commission has

considered the proposed rule’s impact on

efficiency, competition and capital formation. 15

U.S.C. 78c(f). 8 15 U.S.C. 78f(b)(5).

9See note 3, supra.

10 15 U.S.C. 78s(b)(2).

11 17 CFR 200.30–3(a)(12).

Washington, D.C. 20549. 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

Section, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the Exchange. All submissions

should refer to File No. SR–NYSE–00–

23 and should be submitted by June 13,

2000.

IV. Commission’s Findings and Order

Granting Accelerated Approval of

Proposed Rule Change

The Commission finds that the

NYSE’s proposal to interpret the Manual

to accommodate the listing and trading

of UBS shares is consistent with the Act

and the rules and regulations

thereunder applicable to a national

securities exchange.7 Specifically, the

Commission finds that the proposed

rule change is consistent with Section

6(b)(5) of the Act 8 in that it will remove

impediments to and perfect the

mechanism of a free and open market,

and will protect investors and the

public interest, by enabling the NYSE to

serve as a market for shares of UBS

(rather than American depository

receipts) while maintaining trading

standards that are substantially

equivalent to the NYSE’s existing

standards.

The Commission believes that it is

reasonable for the NYSE to interpret the

Manual to accept UBS’s proxy

procedures. By mailing stockholder

meeting materials approximately 45

days prior to its annual meeting, UBS

will give shareholders the same type of

advance notification provided for in the

Manual. Moreover, UBS’s proxy

procedures will cancel proxies for

shares sold prior to the meeting, and

will facilitate voting by persons who

purchase shares during the month

leading up to the meeting. In that way,

the Exchange’s proxy procedures

regarding UBS appear to be

substantially equivalent to the NYSE’s

existing standards, by permitting the

votes cast at the annual meeting to

accurately reflect the company’s

shareholders at the time of the meeting.

Indeed, the Commission approved a

substantially similar interpretation in

1998 to permit the NYSE to trade

ordinary shares of DaimlerChrysler.9

The Commission notes that the

Exchange states that it anticipates

developing and filing generally

applicable rules related to the trading of

ordinary shares of non-U.S. companies,

making this type of company-specific

rule filing unnecessary. The

Commission supports that goal, and

concurs that general rules are preferable

to a series of company-specific

exemptions.

The Exchange has requested that the

Commission approve the proposed rule

change prior to the thirtieth day after its

publication in the Federal Register.

According to the Exchange, the trading

of UBS shares on the Exchange is

scheduled to commence on May 16,

2000. The Exchange states that in light

of the significant trading interest in UBS

shares and the imminence of its listing

date, approving this rule as quickly as

possible will help eliminate uncertainty

on the part of the market participants.

The Exchange also states that

DaimlerChrysler ordinary shares have

traded without difficulty on the

Exchange since their first listing.

The Commission finds good cause for

approving the proposed rule change

prior to the thirtieth day after the date

of publication of notice of filing in the

Federal Register. The Commission

believes that it is necessary to approve

the NYSE’s proposal on an accelerated

basis to permit the public to begin to

trade the newly issued UBS shares on

the NYSE without questions about how

UBS will conduct proxy voting.

It is Therefore Ordered, pursuant to

Section 19(b)(2) of the Act 10 that the

proposed rule change (SR–NYSE–00–

23) is hereby approved on an

accelerated basis.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.11

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–12927 Filed 5–22–00; 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 22, 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, S.W., 5th Floor, Washington,

D.C. 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: Amendments to License

Application.

Form No.: SBA Form-415C.

Frequency: On Occasion.

Description of Respondents: SBIC

Investment Companies.

Annual Responses: 1,200.

Annual Burden: 300.

Jacqueline White,

Chief, Administrative Information Branch.

[FR Doc. 00–12925 Filed 5–22–00; 8:45 am]

BILLING CODE 8025–01–U

DEPARTMENT OF STATE

[Public Notice #3310]

Shipping Coordinating Committee;

Notice of Meeting

The Shipping Coordinating

Committee will hold a meeting on June

16, 2000 from 2 pm to 5 pm to obtain

public comment on issues to be