12852 Federal Register / Vol. 72, No. 52 / Monday, March 19, 2007 / Notices 

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

2 17 CFR 240.19b–4. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 54585 

(October 10, 2006), 71 FR 61112 (October 17, 2006) 

(SR–NASD–2005–101). 

5 Id. 6 15 U.S.C. 78o–3(b)(6). 

Formal orders of investigation; 

Institution and settlement of injunctive 

actions; 

Institution and settlement of administrative 

proceedings of an enforcement nature; 

Litigation matters; 

An adjudicatory matter; and 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed, please 

contact: 

The Office of the Secretary at (202) 

551–5400. 

Dated: March 14, 2007. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–4984 Filed 3–16–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55440; File No. SR–NASD–

2007–019] 

Self-Regulatory Organizations: 

National Association of Securities 

Dealers, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Revise Effective Date 

of Amendments to NASD’s Order Audit 

Trail System Rules 

March 9, 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 March 1, 

2007, the National Association of 

Securities Dealers, Inc. (‘‘NASD’’) 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 NASD. NASD 

has designated the proposed rule change 

as constituting a ‘‘non-controversial’’

rule change under paragraph (f)(6) of 

Rule 19b–4 under the Act,3 which 

renders the proposal effective upon 

receipt of this filing by 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 

NASD is filing the proposed rule 

change to establish February 4, 2008, as 

the effective date of the amendments to 

NASD Rules 6951, 6952, and 6955 that 

the Commission approved on October 

10, 2006.4 The amendments expand the 

Order Audit Trail System (‘‘OATS’’) 

reporting requirements to over-thecounter (‘‘OTC’’) equity securities. No 

changes are being proposed to NASD 

rule text. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

NASD 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. NASD 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 

NASD is filing the proposed rule 

change to establish February 4, 2008, as 

the effective date for the amendments to 

the OATS rules expanding the OATS 

reporting requirements to OTC equity 

securities. 

On October 10, 2006, the SEC 

approved SR–NASD–2005–101, which 

amended NASD Rules 6951, 6952, and 

6955 to expand the OATS reporting 

requirements to include ‘‘OTC equity 

securities,’’ as defined in NASD Rule 

6951.5 On December 11, 2006, NASD 

published (1) Notice to Members 06–70 

announcing the Commission’s approval 

of the amendments and (2) a new 

version of the OATS Reporting 

Technical Specifications. Pursuant to 

the SEC’s approval of SR–NASD–2005–

101, the amendments to the OATS rules 

will go into effect on June 11, 2007, six 

months following the publication of the 

revised OATS Reporting Technical 

Specifications. 

Since the publication of the Notice to 

Members and the OATS Reporting 

Technical Specifications, many firms 

have requested that the effective date for 

the new reporting requirements be 

delayed to allow firms sufficient time to 

make necessary systems updates and 

changes. As a result of these 

discussions, NASD seeks to delay the 

implementation of the new 

requirements until February 4, 2008, to 

give firms sufficient time to make 

necessary changes to their systems to 

enable them to comply with the 

expanded OATS reporting 

requirements. NASD also seeks to delay 

the implementation of these provisions 

until after firms have completed 

technological and systems changes 

required by the complete 

implementation of Regulation NMS, 

which is scheduled for October 2007. 

NASD has filed the proposed rule 

change for immediate effectiveness. 

2. Statutory Basis 

NASD believes that the proposed rule 

change is consistent with the provisions 

of Section 15A(b)(6) of the Act,6 which 

requires, among other things, that NASD 

rules must be designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, and, in general, to 

protect investors and the public interest. 

NASD believes that the proposed rule 

change is consistent with the provisions 

of the Act noted above because 

extending the effective date will ensure 

that firms have sufficient time to make 

the necessary changes to their systems 

to be able to comply with the new 

OATS reporting requirements. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NASD does not believe that the 

proposed rule change will result in 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 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 


ycherry on PROD1PC64 with NOTICES
Federal Register / Vol. 72, No. 52 / Monday, March 19, 2007 / Notices 12853 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–

4(f)(6)(iii) requires that a self-regulatory 

organization submit to the Commission written 

notice of its intent to file the proposed rule change, 

along with a brief description and text of the 

proposed rule change, at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Commission has determined to 

waive the five-day pre-filing notice requirement. 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3 17 CFR 240.12d2–2. See Securities Exchange 

Act Release No. 52029 (July 14, 2005), 70 FR 42456 

(July 22, 2005). 

4 15 U.S.C. 78f(b)(5). 

19(b)(3)(A) of the Act 7 and Rule 19b–

4(f)(6) thereunder.8

At any time within 60 days of the 

filing of the 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. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–NASD–2007–019 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–NASD–2007–019. This file 

number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). 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 also will be 

available for inspection and copying at 

the principal office of NASD. 

All comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–NASD–2007–019 and 

should be submitted on or before April 

9, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–4894 Filed 3–16–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55448; File No. SR–NYSE–

2007–20] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Delete From 

Section 804.00 of the Exchange’s 

Listed Company Manual Text That Has 

Been Superseded 

March 12, 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 February 

22, 2007, the New York Stock Exchange 

LLC (‘‘NYSE’’ or ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule changes as described in 

Items I and II below, which items have 

been substantially prepared by the 

Exchange. The Commission is 

publishing this notice to solicit 

comments on the proposed rule changes 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Section 804.00 of the Exchange’s Listed 

Company Manual (‘‘Manual’’) to delete 

the rule text which applied prior to the 

implementation of the revised text of 

Section 804.00 on April 24, 2006. The 

text of the proposed rule change is 

available on the Exchange’s Web site 

(http://www.nyse.com), at the 

Exchange’s Office of the Secretary, and 

at the Commission’s Public Reference 

Room. 

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 

self-regulatory organization 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 NYSE 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 Exchange proposes to amend 

Section 804.00 of the Exchange’s 

Manual to delete the rule text which 

applied prior to the implementation of 

the revised text of Section 804.00 on 

April 24, 2006. On July 14, 2005, the 

Commission adopted amendments to 

Rule 12d2–2 under the Act.3 Rule 12d2–

2, as amended, required, among other 

things, all national securities exchanges, 

including the Exchange, to amend their 

delisting rules to conform with certain 

requirements set forth in amended Rule 

12d2–2. The Exchange amended Section 

804.00 in light of these requirements 

and its new delisting procedures 

superseded the old procedures on April 

24, 2006. As such, the old procedures 

have no further application and, to 

avoid confusion, the Exchange proposes 

to delete them from Section 804.00 in 

their entirety. 

2. Statutory Basis 

The basis under the Exchange Act for 

this proposed rule change is the 

requirement under Section 6(b)(5) of the 

Act 4 that an exchange have rules that 

are designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to remove impediments to, and 

perfect the mechanism of a free and 

open market and, in general, to protect 

investors and the public interest. 


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