39216 Federal Register / Vol. 65, No. 122 / Friday, June 23, 2000 / Notices

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

6 15 U.S.C. 78f(b)(6).

7The Exchange added this statutory basis for the

proposed rule change on June 5, 2000. Telephone

conversation between John A. Boese, Assistant Vice

President, Rule Development and Market Structure,

BSE, and Joseph Corcoran, Attorney, Division,

Commission, on June 5, 2000.

8 17 CFR 200.30–3(a)(12).

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b–4.

comments on the proposed rule change

form interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The BSE seeks to amend the Summary

Fine Schedule of the Minor Rule

Violation Plan by adding the violation

of ‘‘Failure to Attend Mandatory

BEACON Training Sessions’’ and

amending the prohibition titled

‘‘Violation of the Exchange Smoking

Policy’’ to prohibit all forms of tobacco

use. In addition, the Exchange proposes

to incorporate the BSE’s Minor Rule

Violation Plan into the Boston Stock

Exchange Guide, which is its rulebook.

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

BSE 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 BSE 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

1. Purpose

The BSE proposes to amend the

Exchange’s Minor Rule Violation Plan to

include the failure to attend Market

Performance Committee BEACON

training sessions and to change the

prohibition titled ‘‘Violation of the

Exchange Smoking Policy’’ to prohibit

all forms of tobacco use. The proposed

addition to the Summary Fine Schedule

will enable the Exchange to ensure that

all floor members are fully trained on

the BEACON system following

enhancements for the handling of orders

or the release of new versions of

BEACON software. The Exchange

believes that this will ensure that all

customer orders are accorded the same

professional attention by all specialists.

The Exchange proposes a written

warning for an initial offense, a $50 fine

for the second offense, and a $100 fine

for subsequent offenses. In addition, the

Exchange proposes to prohibit all forms

of tobacco use on the Equity Trading

Floor. Currently, only smoking is

prohibited.

The Exchange also proposes to

incorporate the BSE’s Minor Rule

Violation Plan into the Boston Stock

Exchange Guide, which is its rulebook.

The Plan provides an alternative

method for the Exchange to use to

discipline members who commit minor

rule violations.

2. Statutory Basis

The BSE believes the proposed rule

change is consistent with Section

6(b)(5) 5 of the Act in that it is designed

to foster cooperation and coordination

with persons engaged in regulating,

clearing, settling, processing

information with respect to, and

facilitating transactions in securities;

and is not designed to permit unfair

discrimination between customers,

issuers, brokers or dealers. In addition,

the Exchange believes that the proposal

is consistent with Section 6(b)(6) 6 of the

Act, which requires that its members

and persons associated with its

members be appropriately disciplined

for violations of the rules of the

exchange.7

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.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants, or Others

The Exchange has neither solicited

nor received comments on the proposed

rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within 35 days of the date of

publication of this notice in the Federal

Register or within such longer period (i)

as the Commission may designate up to

90 days of such date if it finds such

longer period to be appropriate and

publishes its reasons for so finding or

(ii) as to which the self-regulatory

organization consents, the Commission

will:

(A) by order approve such proposed

rule change, or

(B) institute proceedings to determine

whether the proposed rule change

should be disapproved.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing,

including whether the proposed rule is

consistent with the Act. Persons making

written submissions should file six

copies thereof with the Secretary,

Securities and Exchange Commission,

450 Fifth Street, N.W., Washington, D.C.

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. Copies of such filing will also be

available for inspection and copying at

the principal office of the BSE. All

submissions should refer to File No.

SR–BSE–99–07 and should be

submitted by July 14, 2000.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.8

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–15902 Filed 6–22–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–42948; File No. SR–NYSE–

00–20]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

the New York Stock Exchange, Inc.

Relating to Listed Company Fees for

Closed-end Funds

June 15, 2000.

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 May 3,

2000, the New York Stock Exchange,

Inc. (‘‘NYSE’’ or ‘‘Exchange’’) filed with

the Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’)

the proposed rule change as described

in Items I, II, and III below, which Items

have been prepared by the Exchange.

The Commission is publishing this

notice to solicit comments on the

Federal Register / Vol. 65, No. 122 / Friday, June 23, 2000 / Notices 39217

3See Securities Exchange Act Release No. 42606

(March 31, 2000), 65 FR 18415 (April 7, 2000) (SR–

NYSE–00–10).

4 15 U.S.C. 78f.

5 15 U.S.C. 78f(b)(4). 6 17 CFR 200.30–3(a)(12).

proposed rule change from interested

persons.

Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Exchange proposes to amend

Paragraph 902.02 of the Exchange’s

Listed Company Manual (the

‘‘Manual’’). Paragraph 902.02 of the

Manual contains the schedule of current

listing fees for companies listing

securities on the Exchange. The text of

the proposed rule change is as follows.

New text is italicized.

902.02 Schedule of Current Listing Fees

* * * * *

A. Original Listing Fee

A special charge of $36,800 in

addition to initial fees (described below)

is payable in connection with the

original listing of a company’s stock. In

any event, each issuer (excluding

closed-end funds) is subject to a

minimum original listing fee of

$150,000 inclusive of the special charge

referenced in the proceeding sentence.

Closed-end funds are subject to a

minimum original listing fee based upon

the number of shares outstanding as

follows:

Up to 10 million shares—$100,000

Up to 24 million shares—125,000

Over 24 milllion shares—150,000

Minimum fees include the one time

special charge of $36,800.

The special charge is also applicable

to an application which in the opinion

of the Exchange is a ‘‘back-door listing’’.

See Para. 703.08 (F) for definition.

* * * * *

Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission, the

Exchange 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

Exchange 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

1. Purpose

The proposed rule change amends the

listed company fee schedule, set forth in

Paragraph 902.02 of the Manual, as it

applies to original listing fees. The

Exchange seeks to adopt a minimum

original listing fee for each new closedend funding depending upon the

number of shares offered. As proposed,

closed-end funds would be subject to a

minimum oringial listing fee based

upon the number of shares outstanding

as follows: up to 10 million shares—

$100,000; up to 24 million shares—

$125,000; and over 24 million shares—

$150,000. This minimum would

included the Exchange’s one-time

special charge of $36,800.

The Exchange recently received

approval for a minimum fee that

specifically excluded closed-end funds

in anticipation of this filing because

such funds, unlike corporations, do not

issue additional shares of securities.3

Thus, the Exchange felt it would be

inappropriate to apply the same criteria

to closed-end funds.

2. Statutory Basis

For these reasons, the Exchange

believes that the propsoed rule change

is consistent with Section 6 of the Act,4

in general, and with Section 6(b)(4),5 in

particular, in that it provides for the

equitable allocation of reasonable dues,

fees and other charges among its

members and issuers and other persons

using its facilities.

Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange believes that the

proposed rule change will not impose

any burden on competition that is not

necessary or appropriate in furtherance

of the purposes of the Act.

Self-Regulatory Organization’s

Statement on the Proposed Rule Change

Received From Members, Participants or

Others

The Exchange has neither solicited

nor received written comments on the

proposed rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within 35 days of the date of

publication of this notice in the Federal

Register or within such longer period (i)

as the Commission may designate up to

90 days of such date if it finds such

longer period to be appropriate and

publishes its reasons for so finding or

(ii) as to which the self-regulatory

organization consents, the Commission

will:

(A) by order approve the proposed

rule change, or

(B) institute proceedings to determine

whether the proposed rule change

should be disapproved.

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 N.W.,

Washington, D.C. 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. Copies of such filing will also be

available for inspection and copying at

the principal office of the NYSE. All

submissions should refer to File No.

SR–NYSE–00–20 and should be

submitted by July 24, 2000.

For the Commission, by the Division

of Market Regulation, pursuant to

delegated authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–15878 Filed 6–22–00; 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

July 24, 2000. If you intend to comment