Federal Register / Vol. 65, No. 127 / Friday, June 30, 2000 / Notices 40715

23 15 U.S.C. 78f(b)(5).

24 15 U.S.C. 78f(b)(5). 25 15 U.S.C. 78f(b)(5).

26See supra note 22.

27 15 U.S.C. 78s(b)(5).

28 15 U.S.C. 78s(b)(2).

29 17 CFR 200.30–3(a)(12).

Furthermore, the Commission finds

that the Exchange’s proposal to trade

PDRs in minimum fractional increments

of 1⁄64 of $1.00 and ICUs in increments

of 1⁄16, 1⁄32, or 1⁄64 of 1.00 is consistent

with the Act. The Commission believes

that such trading should enhance

market liquidity, and should promote

more accurate pricing, tighter

quotations, and reduced price

fluctuations, all of which benefit the

investor. The Commission also believes

that such trading should allow

customers to receive the best possible

execution of their transactions in the

PDRs or ICUs, thereby protecting

customers and the public interest

consistent with section 6(b)(5) of the

Act.23

The Exchange represents that the

Reporting Authority will disseminate

for each series of PDRs or ICUs an

estimate, updated every 15 seconds, of

the value of a share of each series. The

Exchange further represents that the

information that is reported will be

disseminated by or through the primary

exchange or another entity working with

the exchange, when the CHX trades one

of these products pursuant to UTP. The

Commission believes that the

information the Exchange proposes to

have disseminated will provide

investors with timely and useful

information concerning the value of

each series.

The CHX has developed surveillance

procedures for PDRs and ICUs listed

under the generic standards that

incorporate and rely upon existing CHX

surveillance procedures governing

PDRs, ICUs, and equities. The

Commission believes that these

surveillance procedures are adequate to

address concerns associated with listing

and trading PDRs and ICUs under the

generic standards. Accordingly, the

Commission believes that the rules

governing the trading of such securities

provide adequate safeguards to prevent

manipulative acts and practices and to

protect investors and the public interest,

consistent with section 6(b)(5) of the

Act.24 The Exchange further represents

that it will file Form 19b–4(e) with the

Commission within five business days

of commencement of trading a series

under the generic standards, and will

comply with all Rule 19b–4(e)

recordkeeping requirements.

The Commission also notes that

certain concerns are raised when a

broker-dealer is involved in both the

development and maintenance of a

stock index upon which a product such

as PDRs or ICUs is based. The proposal

requires that, in such circumstances, the

broker-dealer must have procedures in

place to prevent the misuse of material,

non-public information regarding

changes and adjustments to the index

and that the index value be calculated

by a third party who is not a brokerdealer. The Commission believes that

these requirements should help address

concerns raised by a broker-dealer’s

involvement in the management of such

an index.

Finally, the Commission believes that

the Exchange’s proposal will ensure that

investors have information that will

allow them to be adequately apprised of

the terms, characteristics, and risks of

trading PDRs and ICUs. Members and

member organizations will be required

to provide to all purchasers of ICUs or

PDRs a written description of the terms

and characteristics of these securities, to

include their product description in

sales materials provided to customers or

the public, to include a specific

statement relating to the availability of

the description in other types of

materials distributed to customer or the

public, and to provide a copy of the

prospectus, when requested by a

customer. The proposal also requires a

member or member organization

carrying an omnibus account for a nonmember broker-dealer, to notify the nonmember that execution of an order to

purchase an ICU or PDR constitutes an

agreement by the non-member to

provide the product description to its

customers.

The Commission also notes that upon

the initial listing, or trading pursuant to

UTP, of any PDRs or ICUs under the

generic standards, the Exchange will

issue a circular to its members

explaining the unique characteristics

and risks of this particular type of

security. The circular also will note the

Exchange members’ prospectus or

product description delivery

requirements, and highlight the

characteristics of purchases in a

particular series of PDRs or ICUs. The

circular also will inform members of

their responsibilities under CHX Article

VIII, Rule 25 in connection with

customer transactions in these

securities. The Commission believes

that these requirements ensure

adequater disclosure to investor about

the terms and characteristics of a

particular series and is consistent with

section 6(b)(5) of the Act.25

The Commission finds good cause for

approving the proposed rule change, as

amended, prior to the thirtieth day after

the date of publication of notice thereof

in the Federal Register pursuant to

section 19(b)(2) of the Act. The

Commission notes that the proposed

rule change is based on the generic

listing standards in Amex Rule 1000 et

seq. (PDRs) and 1000A et seq. (Index

Fund Shares), which the Commission

previously approved after soliciting

public comment on the proposal

pursuant to section 19(b)(1) of the Act.26

The Commission does not believe that

the proposed rule changes raises novel

regulatory issues that were not

addressed in the Amex filing.

Accordingly, the Commission believes it

is appropriate to permit investors to

benefit from the flexibility afforded by

these new instruments by trading them

as soon as possible. Accordingly, the

Commission finds that there is good

cause, consistent with section 6(b)(5) of

the Act,27 to approve the proposal on an

accelerated basis.

V. Conclusion

It Is Therefore Ordered, pursuant to

section 19(b)(2) of the Act,28 that the

proposed rule change (SR–CHX–00–14)

and Amendment No. 1 thereto, are

hereby approved on an accelerated

basis.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.29

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–16582 Filed 6–29–00; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF STATE

[Public Notice 3351]

Culturally Significant Objects Imported

for Exhibition; Determinations: ‘‘Van

Gogh to Mondrian: Dutch Works on

Paper’’

AGENCY: United States Department of

State.

ACTION: Notice.

SUMMARY: Notice is hereby given of the

following determinations: Pursuant to

the authority vested in me by the Act of

October 19, 1965 (79 Stat. 985, 22 U.S.C.

2459), the Foreign Affairs Reform and

Restructuring Act of 1998 (112 Stat.

2681, et seq.), Delegation of Authority

No. 234 of October 1, 1999, and

Delegation of Authority No. 236 of

October 19, 1999, as amended, I hereby

determine that the objects to be

included in the exhibition ‘‘Van Gogh to

Mondrian: Dutch Works on Paper,’’

40716 Federal Register / Vol. 65, No. 127 / Friday, June 30, 2000 / Notices

imported from abroad for the temporary

exhibition without profit within the

United States, are of cultural

significance. These objects are imported

pursuant to loan agreements with

foreign lenders. I also determine that the

exhibition or display of the exhibit

objects at the Museum of Fine Arts,

Boston, MA from on or about July 25,

2000 to on or about November 5, 2000,

is in the national interest. Public Notice

of these Determinations is ordered to be

published in the Federal Register.

FOR FURTHER INFORMATION CONTACT: For

further information, including a list of

exhibit objects, contact Paul Manning,

Attorney-Adviser, Office of the Legal

Adviser, U.S. Department of State

(telephone: 202/619–5997). The address

is U.S. Department of State, SA–44, 301

4th Street, S.W., Room 700, Washington,

D.C. 20547–0001.

Dated: June 23, 2000.

William B. Bader,

Assistant Secretary for Educational and

Cultural Affairs, United States Department

of State.

[FR Doc. 00–16609 Filed 6–29–00; 8:45 am]

BILLING CODE 4710–08–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Intent To Request Renewal

From the Office of Management and

Budget (OMB) of Four Current

Collections of Information

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice.

SUMMARY: In compliance with the

Paperwork Reduction Act (44 U.S.C.

3501 et seq.) the FAA invites public

comment on four currently approved

public information collections which

will be submitted to OMB for renewal.

DATES: Comments must be received on

or before August 29, 2000.

ADDRESSES: Comments may be mailed

or delivered to the FAA at the following

address: Ms. Judy Street, Room 613,

Federal Aviation Administration,

Standards and Information Division,

APF–100 Independence Ave., SW.,

Washington, DC 20591.

FOR FURTHER INFORMATION CONTACT: Ms.

Judy Street at the above address or on

(202) 267–9895.

SUPPLEMENTARY INFORMATION: The FAA

solicits comments on the following four

current collections of information in

order to evaluate the necessity of the

collection, the accuracy of the agency’s

estimate of the burden, the quality,

utility, and clarity of the information to

be collected, and possible ways to

minimize the burden of the collection.

Following are short synopses of the

information collection activities which

will be submitted to OMB for review

and renewal:

1. 2120–0033, Representatives of the

Administrator, FAR 183. Title 49, U.S.C.

44702, authorizes appointment of

properly qualified private persons to be

representatives of the Administrator for

examining, testing, and certifying

airmen for the purpose of issuing those

individuals airmen certificates. The

information collected is used to

determine eligibility of the

representatives. There is an estimate of

7,000 respondents who will take an

hour or less to prepare the appropriate

application form for the job for which

they are applying.

2. 2120–0607, Pilot Records

Improvement Act of 1996. Section 502

of the Pilot Records Improvement Act of

1996, Public Law 104–264, requires that

all air carriers (as defined in 49 U.S.C.

40102(a)(2)), request and receive FAA

records, air carrier and other records,

and National Driver Register records

before hiring an individual as a pilot.

An air carrier may use FAA forms 8060–

10, and 8060–11, and the National

Drivers Registry request form. The

estimates in the past have been an

estimated 21,000 respondents, with a

burden of approximately 6,000 hours

annually.

3. 2120–0611, AST Customer Service

Survey. The FAA conducts surveys to

obtain industry input on customer

service standards that were developed

by the FAA’s Office of the Associate

Administrator for Commercial Space

Transportation (AST) and distributed to

industry customers. The respondents

will be an estimated 50 representatives

of the U.S. commercial launch industry

and other industry representatives from

related industries. The data collected

will be analyzed by AST to determine

the quality of services provided by AST

to its industry and government

customers. The estimated annual

burden is 50 hours.

4. 2120–0618, Overflight Bulling and

Collections Customer Information Form.

Information will be collected from air

carriers that transit U.S. controlled

airspace but do not take off or land in

the U.S. This activity is commonly

known as overflights. The information

obtained from the customer information

form will be used to properly identify

and accurately bill carriers subject to

overflight changes as well as obtain a

name, telephone number and fax

number for contact purposes. The

respondents are an estimated 300–600

air carriers, for a total estimated burden

of 50 hours.

Issued in Washington, DC, on June 26,

2000.

Steve Hopkins,

Manager, Standards and Information

Division, APF–100.

[FR Doc. 00–16665 Filed 6–29–00; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. PE–2000–21]

Petitions for Exemption; Summary of

Petitions Received; Dispositions of

Petitions Issued

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice of petitions for

exemption received and of dispositions

of prior petitions.

SUMMARY: Pursuant to FAA’s rulemaking

provisions governing the application,

processing, and disposition of petitions

for exemption (14 CFR part 11), this

notice contains a summary of certain

petitions seeking relief from specified

requirements of the Federal Aviation

Regulations (14 CFR Ch. I), dispositions

of certain petitions previously received,

and corrections. The purpose of this

notice is to improve the public’s

awareness of, and participation in, this

aspect of FAA’s regulatory activities.

Neither publication of this notice nor

the inclusion or omission of information

in the summary is intended to affect the

legal status of any petition or its final

disposition.

DATES: Comments on petitions received

must identify the petition docket

number involved and must be received

on or before July 24, 2000.

ADDRESSES: Send comments on any

petition in triplicate to: Federal

Aviation Administration, Office of the

Chief Counsel, Attn: Rule Docket (AGC–

200), Petition docket No. llll, 800

Independence Avenue, SW.,

Washington, DC 20591.

The petition, any comments received,

and a copy of any final disposition are

filed in the assigned regulatory docket

and are available for examination in the

Rules Docket (AGC–200), Room 915G,

FAA Headquarters Building (FOB 10A),

800 Independence Avenue, SW.,

Washington, DC 20591; telephone (202)

267–3132.

FOR FURTHER INFORMATION CONTACT:

Cherie Jack (202) 267–7271, Forest

Rawls (202) 267–8033, or Vanessa

Wilkins (202) 267–8029 Office of