45836 Federal Register / Vol. 72, No. 157 / Wednesday, August 15, 2007 / Notices 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6). 

5The Commission notes that revised Rule 520 

requires each member and member organization to 

report to the Exchange such information as may be 

required with respect to any substantial option 

relating to listed securities, or securities admitted 

to unlisted trading privileges on the Exchange, 

acquired over-the-counter, in which such member, 

member organization, or allied member therein is 

directly or indirectly interested or of which such 

member, member organization, or allied member 

has knowledge by reason of transactions executed 

by or through such member or organization. 

6See NYSE Rule 424. 

7See Phlx Rule 784. 

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

9 15 U.S.C. 78f(b)(5). 

PROCEDURAL SCHEDULE—Continued 

August 31, 2007 .................................................. Petitioner’s Participant Statement or Initial Brief due [see 39 CFR 3001.115(a) and (b)]. 

September 20, 2007 ........................................... Postal Service’s Answering Brief due [see 39 CFR 3001.115(c)]. 

October 5, 2007 .................................................. Petitioner’s Reply Brief due should petitioner choose to file one [see 39 CFR 3001.115(d)]. 

October 12, 2007 ................................................ Deadline for motions by any party requesting oral argument. The Commission will schedule 

oral argument only when it is a necessary addition to the written filings [see 39 CFR 

3001.116]. 

November 26, 2007 ............................................. Expiration of the Commission’s 120-day decisional schedule [see 39 U.S.C. 404(d)(5)]. 

Dated: August 9, 2007. 

By the Commission. 

Steven W. Williams, 

Secretary. 

[FR Doc. E7–15953 Filed 8–14–07; 8:45 am] 

BILLING CODE 7710–FW–P 

UNITED STATES POSTAL SERVICE 

BOARD OF GOVERNORS 

Sunshine Act Meeting; Notification of 

Item Added to Meeting Agenda 

DATE OF MEETING: August 7, 2007. 

STATUS: Closed. 

PREVIOUS ANNOUNCEMENT: 71 FR 42445, 

August 2, 2007. 

ADDITION: Filing with the Postal 

Regulatory Commission for a Negotiated 

Service Agreement. 

At its closed meeting on August 7, 

2007, the Board of Governors of the 

United States Postal Service voted 

unanimously to add this item to the 

agenda of its closed meeting and that no 

earlier announcement was possible. The 

General Counsel of the United States 

Postal Service certified that in her 

opinion discussion of this item could be 

properly closed to public observation. 

CONTACT PERSON FOR MORE INFORMATION: 

Wendy A. Hocking, Secretary of the 

Board, U.S. Postal Service, 475 L’Enfant 

Plaza, SW., Washington, DC 20260–

1000. 

Wendy A. Hocking, 

Secretary. 

[FR Doc. 07–4002 Filed 8–10–07; 3:18 pm] 

BILLING CODE 7710–12–M 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–56219; File No. SR–Amex–

2007–78] 

Self-Regulatory Organizations; 

American Stock Exchange LLC; Notice 

of Filing and Immediate Effectiveness 

of a Proposed Rule Change To Amend 

Rule 520 in Order To Clarify Reporting 

Requirements 

August 8, 2007. 

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 August 2, 

2007, the American Stock Exchange LLC 

(‘‘Amex’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been 

substantially prepared by Amex. The 

Exchange has filed the proposal 

pursuant to Section 19(b)(3)(A) of the 

Act 3 and Rule 19b–4(f)(6) thereunder,4

which renders the proposal effective 

upon filing with the Commission. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Rule 520 (Options and Selling 

Agreements) in order to clarify reporting 

requirements. The text of the proposed 

rule change is available at Amex, the 

Commission’s Public Reference Room, 

and http://www.amex.com. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

Amex 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. Amex 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 purpose of the proposed rule 

change is to clarify the reporting 

requirements of Rule 520. The proposal 

seeks to amend Rule 520 to make clear 

that it does not apply to standardized 

options and corporate stock options.5

Rule 520 is designed to facilitate the 

Exchange’s surveillance for and 

enforcement of rules against 

manipulation in connection with 

private or over-the-counter options. 

Because standardized options and 

corporate stock options are already 

subject to similar reporting 

requirements, via a prospectus or a 

registration statement, the Exchange 

believes it is redundant and needlessly 

burdensome to also require each 

member and member organization to 

submit reports to the Exchange under 

Rule 520 for standardized options and 

corporate stock options. 

The Exchange submits that the 

proposed amendment to Rule 520 will 

provide additional transparency and 

clarity to the Rule. Furthermore, the 

Exchange believes that the proposed 

amendment to Rule 520 will enable 

Amex standards to be more consistent 

with those of the New York Stock 

Exchange LLC (‘‘NYSE’’) 6 and the 

Philadelphia Stock Exchange, Inc. 

(‘‘Phlx’’),7 and therefore facilitate 

uniform application of the reporting 

requirements. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) of the Act,8 in general, and furthers 

the objectives of Section 6(b)(5) of the 

Act,9 in particular, in that it is designed 

to promote just and equitable principles 

of trade, to remove impediments to and 

perfect the mechanism of a free and 


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