Federal Register / Vol. 62, No. 206 / Friday, October 24, 1997 / Notices 55449

6 17 CFR 200.30–3(a)(12).

1 15 U.S.C. § 78s(b)(1).

2See Securities Exchange Act Release No. 38960

(Aug. 22, 1997), 62 FR 45904 (Aug. 29, 1997).

3As part of its revised governance structure, the

Exchange eliminated the Disciplinary Review

Committee. Id.

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.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, NW.,

Washington, DC 20549. 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 at

the Commission’s Public Reference

Section, 450 Fifth Street, NW.,

Washington, DC 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office at the PHLX. All submissions

should refer to File No. SR–PHLX–97–

47, and should be submitted by

November 14, 1997.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–28174 Filed 10–23–97; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–39258; File No. SR–PHLX–

97–40]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the

Philadelphia Stock Exchange, Inc.

Relating to the Amendment of

Exchange Rules to Comply With

Recent Modifications to the By-Laws of

the Exchange

October 20, 1997.

Pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’),1 notice is hereby given that on

September 24, 1997, the Philadelphia

Stock Exchange, Inc. (‘‘PHLX’’ or

‘‘Exchange’’) filed with the Securities

and Exchange Commission

(‘‘Commission’’ or ‘‘SEC’’) 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 proposed rule

change from interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Exchange seeks to amend

Exchange Rules 500 and 960.9 to

comply with recent modifications made

to the By-Laws of the Exchange.

The text of the proposed rule change

is available at the Office of the

Secretary, the Exchange and the

Commission.

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

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 Exchange recently received

regulatory approval to revise the

governance structure of the Exchange.2

As part of the restructuring, revisions

were made to the By-Laws and Articles

of Incorporation of the Exchange. In its

proposed rule change, the Exchange

seeks to make corresponding revisions

to two of its rules, Rule 500 and Rule

960.9, to conform to the new By-Laws

where necessary. The proposed

amendments would modify rules that

concern the structure and procedures of

two of the Exchange’s standing

committees, the Allocation, Evaluation

and Securities Committee (‘‘AES

Committee’’) and the Business Conduct

Committee (‘‘BC Committee’’).

Rule 500 (Allocation, Evaluation and

Securities Committee)

The Exchange proposes to revise Rule

500 to specify the revised composition

of the AES Committee. Under the prior

version of By-Law Article X, Section

10–7, the AES Committee was

composed of five core members and

twenty members of an allocation panel.

Under revised By-Law Article X,

Section 10–7, there may only be nine

members on the Committee. Of those

nine members, some will be core

members who serve three year terms

while others will be annual members

who may serve up to three consecutive

one year terms. Revised By-Law Article

X, Section 10–7 refers to Exchange Rule

500 for the number and categories of

persons eligible to serve as core

members and annual members. Because

Rule 500 currently provides that there

will be five core members and twenty

panel members, it must be modified to

comply with the terms of revised ByLaw Article X, Section 10–7 which

provides for a total of nine members on

the AES Committee. The Exchange

proposes to maintain the same number

of core members, five, and the same

selection categories for core members:

(i) three persons who conduct a public

securities business; (ii) one person who

is active on the equity trading floor as

a specialist or floor broker; and (iii) one

person who is active on the options

trading floor as a specialist, registered

options trader or floor broker. Rule 500

would be amended to require that of the

four annual members: (i) one be active

on the equity trading floor as a specialist

or floor broker; (ii) one be active on the

equity options trading floor as a

registered options trader; (iii) one be a

public Governor; and (iv) one be a nonindustry Governor.

Rule 960.9 (Business Conduct

Committee)

The Exchange proposes to amend

Rule 960.9 by revising the provisions

that set forth the appeal procedure for

decisions rendered by the Business

Conduct Committee. Under revised ByLaw Article X, Section 10–11, appeals

from the Business Conduct Committee

will now go directly to the Board of

Governors rather than the Disciplinary

Review Committee.3 Accordingly, Rule

960.9 is being amended to provide that

a Respondent who wishes to appeal a

decision of the Business Conduct

Committee must now comply with the

appeal procedures set forth in By-Law

Article XI, Section 11–1 which governs

appeals from all committees of the

Board.
55450 Federal Register / Vol. 62, No. 206 / Friday, October 24, 1997 / Notices

4 15 U.S.C. § 78f.

5 15 U.S.C. § 78f(b)(1).

6 15 U.S.C. § 78s(b)(3)(A).

7 17 CFR 240.19b–4(e).

8 17 CFR 200.30–3(a)(12).

2. Statutory Basis

The Exchange represents that the

proposed rule change is consistent with

Section 6 4 of the Act, in general, and

furthers the objectives of Section

6(b)(1) 5 of the Act, in particular, in that

the streamlining of the Exchange’s

committee structure will enable the

Exchange to enforce compliance by its

members and persons associated with

its members, with the provisions of the

Act, the rules and regulations

thereunder, and the rules of the

Exchange.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange does not believe that

the proposed rule change will impose

any inappropriate burden on

competition.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants, or Others

The Exchange did not solicit or

receive written comments with respect

to the proposed rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The foregoing rule change is

concerned solely with the

administration of the Exchange and

constitutes a stated policy and practice

of the Exchange with respect to the

administration of the Exchange’s ByLaws and, therefore, has become

effective pursuant to Section

19(b)(3)(A) 6 of the Act and

subparagraph (e) of Rule 19b–4 7

thereunder. 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.

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. 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

Section, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the Exchange. All submissions

should refer to File No. SR–PHLX–97–

40 and should be submitted by

November 14, 1997.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.8

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–28239 Filed 10–23–97; 8:45 am]

BILLING CODE 8010–01–M

SOCIAL SECURITY ADMINISTRATION

Information Collection Activities:

Proposed Collection Requests and

Comment Requests

This notice lists information

collection packages that will require

submission to the Office of Management

and Budget (OMB), as well as

information collection packages

submitted to OMB for clearance, in

compliance with Pub.L. 104–13

effective October 1, 1995, The

Paperwork Reduction Act of 1995.

I. The information collection(s) listed

below require(s) extension(s) of the

current OMB approval(s) or are

proposed new collection(s):

1. Application for a Social Security

Card—0960–0066. The information

collected on Form SS–5 by the Social

Security Administration (SSA) is used

to assign a Social Security Number and

issue a card. The Social Security

Number is used by SSA to keep an

accurate record of each individual’s

earnings for the payment of benefits and

for administrative purposes as an

identifier for health-maintenance and

income-maintenance programs, such as

the Retirement, Survivors and Disability

Insurance Programs, the Supplemental

Security Income (SSI) Program and

other programs administered by the

Federal government including Black

Lung, Medicare and veterans

compensation and pension programs.

The Social Security Number is also used

by the Internal Revenue Service as a

taxpayer identification number for those

individuals who are eligible to be

assigned a Social Security Number. The

respondents are applicants for a Social

Security Card.

Number of Respondents: 16 million.

Frequency of Response: 1.

Average Burden Per Response: 81⁄2

minutes—9 minutes.

Estimated Annual Burden: 2,275,000

hours.

2. Request to Resolve Questionable

Quarters of Coverage (SSA–512);

Request for Quarters of Coverage History

Based on Relationship (SSA–513)—

0960–0575. The Personal Responsibility

and Work Opportunity Reconciliation

Act states that aliens admitted for lawful

residence who have worked and earned

40 qualifying quarters of coverage (QCs)

for Social Security purposes can

generally receive State benefits. QCs can

also be allocated to a spouse and/or to

a child under age 18, if needed to obtain

40 qualifying QCs for the alien. Form

SSA–512 is used by the States to request

clarification from SSA on questionable

QCs. Form SSA–513 is used by States to

request QC information for an alien’s

spouse or parent in cases where the

spouse or parent does not sign a consent

form giving permission to access his/her

social security records. The respondents

are State agencies which require QC

information in order to determine

eligibility for benefits.

SSA–512 SSA–513

Number of Responses .............................................................................................................................. 200,000 ..................... 350,000.

Frequency of Response ............................................................................................................................ 1 ................................ 1.

Average Burden Per Response ................................................................................................................ 2 minutes ................... 2 minutes.

Estimated Annual Burden ......................................................................................................................... 6,667 hours ............... 11,667 hours.