Federal Register / Vol. 72, No. 58 / Tuesday, March 27, 2007 / Notices 14321 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3On January 12, 2007, Phlx withdrew 

Amendment No. 1. 

4 15 U.S.C. 78s(b)(1). 

5 17 CFR 240.19b–4. 

6The Commission made minor clarifications to 

this sentence pursuant to a telephone call with the 

Continued 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–5551 Filed 3–26–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55492; File No. SR–Phlx–

2006–61] 

Self-Regulatory Organizations; 

Philadelphia Stock Exchange, Inc.; 

Notice of Filing of a Proposed Rule 

Change and Amendment No. 2 Thereto 

Relating to Order and Decorum 

Regulations 

March 20, 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 

September 26, 2006, the Philadelphia 

Stock Exchange, Inc. (‘‘Phlx’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

substantially prepared by Phlx. On 

November 14, 2006, the Exchange filed 

Amendment No. 1 to the proposed rule 

change which was subsequently 

withdrawn.3 On January 19, 2007, the 

Exchange filed Amendment No. 2 to the 

proposed rule change. The Commission 

is publishing this notice to solicit 

comments on the proposed rule change, 

as amended, from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Phlx, pursuant to Section 19(b)(1) 

of the Act 4 and Rule 19b–4 thereunder,5

proposes to amend Option Order and 

Decorum Regulation 2, Food, Liquids 

and Beverages; Regulation 4, Order; 

Regulation 5, Visitors and Applicants; 

and Regulation 6, Dress, pursuant to 

Exchange Rule 60. The amendments 

intend to: (i) Add clarifying language to 

Regulations 4 and 5; (ii) amend 

Regulation 2 language concerning food, 

liquids and beverages and propose fines 

for violations of these new sections; (iii) 

add new language to address trash, litter 

and vandalism to Regulation 2; (iv) 

increase fine amounts as specified in 

proposed Regulations 2 and 6; (v) delete 

the language of Regulation 6 and adopt 

a revised dress code; and (vi) add 

clarifying language to Regulations 2, 4, 

5 and 6 regarding supervisory 

responsibility for violations of the 

various order and decorum regulations. 

The text of the proposed rule change 

is available at Phlx, the Commission’s 

Public Reference Room, and http:// 

www.Phlx.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, 

Phlx 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. Phlx 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 amend various Option 

Order and Decorum Regulations, 

adopted pursuant to Exchange Rule 60, 

to ensure the efficient, undisrupted 

conduct of business on the Exchange 

and provide a trading floor environment 

free from conduct that could distract or 

interfere with market activity. Further, 

the Exchange seeks to delineate specific 

guidelines concerning the conduct and 

personal appearance of persons on the 

trading floor to prohibit any act or 

omission, which could interfere with 

the personal safety of other persons on 

the trading floor. 

Regulation 2 

The Exchange no longer has a 

cafeteria for members on the premises 

and therefore, for purposes of 

convenience, the Exchange proposes to 

amend Regulation 2 to allow members, 

member organizations, participants, 

participant organizations and their 

associated persons to consume foods, 

liquids and beverages while on the 

trading floor, provided this does not 

unreasonably interfere with the business 

of the trading floor. The Exchange 

proposes to increase the fines associated 

with a violation of this Regulation to 

create a deterrent for members who are 

not compliant with the new policy. 

Additionally, new language is 

proposed to address trash, litter and 

vandalism on the trading floor. The 

Exchange desires to promote a 

professional environment and to create 

a physical workplace that is free of trash 

and litter. The Exchange proposes to 

add certain fines for violating the trash, 

litter and vandalism Regulations. Also, 

the Exchange proposes language to 

address vandalism. In an effort to 

maintain a businesslike atmosphere, the 

abuse, destruction and theft of property 

will not be tolerated. Due to the 

addition of these sections, the Exchange 

proposes changing the title of 

Regulation 2 from ‘‘Food, Liquids and 

Beverages’’ to ‘‘Food, Liquids and 

Beverages, Trash, Litter and Vandalism’’

to reflect the additions to this 

Regulation. 

Regulation 4 

The Exchange proposes adding 

language to section (a) of this Regulation 

to clarify that the use of profanity is a 

violation of this Regulation. While the 

use of profanity is currently a violation 

of Regulation 4, the Exchange seeks to 

further define the scope of prohibited 

conduct by specifically indicating that 

members, member organizations, 

participants, participant organizations 

and their associated persons will be 

disciplined for the use of profanity. 

Regulation 5 

The Exchange proposes amending this 

Regulation to authorize an Exchange or 

Floor Official to permit visitors on the 

trading floor. It is more practicable for 

Exchange and Floor Officials to 

determine whether to permit visitors to 

the trading floor instead of requiring a 

floor committee to meet and make such 

determinations. The decision to permit 

visitors on the trading floor is a day-today business function, which is better 

served by allowing Exchange and Floor 

Officials the authority to make these 

decisions. 

Regulation 6 

The Exchange proposes amending its 

current dress code to adopt a business 

casual dress code and clarify what 

business attire is deemed acceptable on 

the trading floor. By issuing guidelines 

on acceptable apparel while on the 

trading floor, the Exchange intends to 

encourage all members, member 

organizations, participants, participant 

organizations and their associated 

persons to comply with the dress code 

requirements of Regulation 6.6 The 


sroberts on PROD1PC70 with NOTICES
14322 Federal Register / Vol. 72, No. 58 / Tuesday, March 27, 2007 / Notices 

Exchange. See telephone call by and between 

Rahman Harrison, Special Counsel, Division of 

Market Regulation, Commission, and Angela Dunn, 

Director and Counsel, Phlx, on March 19, 2007. 

7 15 U.S.C. 78f(b). 

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

9 15 U.S.C. 78f(b)(6). 10 17 CFR 200.30–3(a)(12). 

Exchange also proposed to increase 

sanctions. 

Other Changes 

In addition, the Exchange proposes to 

further amend Regulations 2, 4, 5 and 6 

to add language to indicate, pursuant to 

Exchange Rule 60, that Exchange Staff 

may impose fines for breaches of order, 

decorum, health, safety and welfare on 

the members, member organizations, 

participants, participant organizations 

and their associated persons. This 

language is intended to clarify the 

responsibility of members and their 

associated persons for compliance with 

Regulations. 

2. Statutory Basis 

The proposal is consistent with 

Section 6(b) of the Act 7 in general, and 

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

of the Act 8 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 open market 

and a national market system, and, in 

general to protect investors and the 

public interest, because the proposal 

should facilitate prompt, appropriate, 

and effective discipline for violations of 

Exchange Rule 60 and the regulations 

thereunder designed to maintain order 

on the Exchange. In addition, the 

proposed rule is consistent with Section 

6(b)(6) of the Act 9 which requires the 

rules of an exchange provide that its 

members be appropriately disciplined 

for violations of the Act as well as the 

rules and regulations thereunder, by 

imposing increased fine amounts for 

breaches of order and decorum to better 

reflect the severity of the violation and 

provide an appropriate form of 

deterrence for violation of Exchange 

Rule 60 and the regulations thereunder. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange 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 

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 Exchange 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 

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–Phlx–2006–61 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

Station Place, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–Phlx–2006–61. 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 the Phlx. 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–Phlx–2006–61 and should 

be submitted on or before April 17, 

2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–5552 Filed 3–26–07; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF STATE 

[Public Notice 5730] 

Fine Arts Committee Notice of Meeting 

The Fine Arts Committee of the 

Department of State will meet on April 

20, 2007 at 2:30 p.m. in the Henry Clay 

Room of the Harry S. Truman Building, 

2201 C Street NW, Washington, DC. The 

meeting will last until approximately 

3:30 p.m. and is open to the public. 

The agenda for the committee meeting 

will include a summary of the work of 

the Fine Arts Office since its last 

meeting on February 20, 2007 and the 

announcement of gifts and loans of 

furnishings as well as financial 

contributions from January 1, 2007 

through March 31, 2007. 

Public access to the Department of 

State is strictly controlled and space is 

limited. Members of the public wishing 

to take part in the meeting should 

telephone the Fine Arts Office at (202) 

647–1990 or send an e-mail to 

Craighillmf@state.gov by April 13 to 

make arrangements to enter the 

building. The public may take part in 

the discussion as long as time permits 

and at the discretion of the chairman. 

Dated: March 16, 2007. 

Gail F. Serfaty, 

Secretary, Fine Arts Committee, Department 

of State. 

[FR Doc. E7–5586 Filed 3–26–07; 8:45 am] 

BILLING CODE 4710–35–P 


sroberts on PROD1PC70 with NOTICES