Federal Register / Vol. 62, No. 225 / Friday, November 21, 1997 / Notices 62395

8 17 CFR 200.30–3(a)(12).

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

2 15 U.S.C. 78f(b).

3 15 U.S.C. 78f(b)(4).

4 15 U.S.C. 78s(b)(3)(A).

5 17 CFR 240.19b–4(e)(2).

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 at

the Commission’s Public Reference

Room. Copies of such filing will also be

available for inspection and copying at

the principal of the PCX. All

submissions should refer to File No.

SR–PCX–97–44 and should be

submitted by December 12, 1997.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.8

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–30628 Filed 11–20–97; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–39325; File No. SR–PHLX–

97–58]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the

Philadelphia Stock Exchange, Inc.,

Relating to a Revision to the

Exchange’s Equity Floor Brokerage

Assessment Fee

November 13, 1997.

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

Securities Exchange Act of 1934

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

November 5, 1997, the Philadelphia

Stock Exchange, Inc. (‘‘Phlx’’ or

‘‘Exchange’’) 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 the self-regulatory

organization. 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 Phlx, pursuant to Rule 19b–4

under the Act, proposes to amend the

Exchange’s Equity Floor Brokerage

Assessment schedule which currently

determines the rate of the assessment on

a member’s monthly equity floor

brokerage based upon whether the

member is a specialist with funds on

deposit at the Stock Clearing

Corporation of Philadelphia (SCCP) or

not. The Exchange hereby proposes to

change the fee to a flat rate of 1.25% of

the amount that any member bills out in

floor brokerage on the Phlx Equity floor

each month. The schedule will be

amended as follows (brackets indicate

deletions, italics indicates additions):

Summary of Equity Charges

EQUITY FLOOR BROKERAGE

ASSESSMENT

[5%] 1.25% of net floor brokerage

income [with specialist credits]

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 self-regulatory organization 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

Currently, the Exchange assesses a

monthly fee on the amount of money a

floor broker bills to its customers each

month for floor brokerage services with

respect to equity securities. The rate

used to calculate the fee is either 5% if

the member only conducts business as

a floor broker, or is discounted to 1.25%

if the member also conducts business as

an equity specialist with funds on

deposit at SCCP. When this fee was

originally adopted in 1974, the

Exchange intended to encourage

members who conducted business on

the equity floor as floor brokers to also

become specialists and open an account

at SCCP. In recent years, the Exchange

has observed that almost all floor

brokers on the Equity floor were also

specialists, thereby taking advantage of

the lower rate. The Exchange has now

decided that the fee should be

determined solely by the amount of

business a floor broker conducts.

Accordingly, the Exchange is proposing

to redesignate the fee as 1.25% of a

member’s floor brokerage on the

Exchange Equity floor.

2. Statutory Basis

The Exchange represents that the

proposed rule change is consistent with

Section 6(b) of the Act,2 in general, and

furthers the objectives of Section

6(b)(4) 3 in particular, in that it provides

for the equitable allocation of reasonable

dues, fees, and other charges among the

Exchange’s members and other persons

using its facilities.

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 has neither solicited

nor received written comments on the

proposed rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The foregoing rule change establishes

or changes a due, fee, or other charge

imposed by the Exchange and, therefore,

has become effective pursuant to

Section 19(b)(3)(A) of the Act 4 and

subparagraph (e)(2) of Rule 19b–4

thereunder.5

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
62396 Federal Register / Vol. 62, No. 225 / Friday, November 21, 1997 / Notices

6 17 CFR 200.30–3(a)(12).

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 at

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

submissions should refer to File No.

SR–PHLX–97–58 and should be

submitted by December 12, 1997.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–30624 Filed 11–20–97; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF STATE

United States International

Telecommunications Advisory

Committee (ITAC), Standardization

Sector (ITAC–T) Study Groups D and

CITEL AD–HOC; Meeting Notice

The Department of State announces

that the United States International

Telecommunications Advisory

Committee Standardization Section

(ITAC–T) Study Group D and CITEL

AD–HOC will meet on Monday, January

5, 1998, Room 1207 at 9:00 a.m. and

Tuesday, February 17, 1998, at 9:00 a.m.

in the same room at the Department of

State, 2201 C Street, NW., Washington,

DC 20520.

The agenda for study group D will

include consideration of contributions

for upcoming meetings of Study Group

9 and 16. The CITEL Ad Hoc Group will

consider the Preparatory process for

future CITEL meetings, review possible

contributions for the tasks assigned

under CITEL Restructure proposals. Any

other matters within the competence of

Study Group D or the CITEL Ad Hoc

Group may be raised at either of those

meetings.

Persons presenting contributions to

Study Group D should bring 20 copies

of such contributions to the meeting.

Please Note: Persons intending to

attend these meetings must announce

this not later than 48 hours before the

meeting to the Department of State by

sending a fax to 202–647–7407. The

announcement must include company/

agency affiliation, name, Social Security

number and date of birth. The above

includes government and nongovernment attendees. One of the

following valid photo ID’s will be

required for admittance: U.S. driver’s

license with picture, U.S. passport, U.S.

government ID (company ID’s are no

longer accepted by Diplomatic

Security). Enter from the ‘‘C’’ Street

Main Lobby.

Dated: November 10, 1997.

Gary M. Fereno,

Chairman, U.S. ITAC for CITEL and Study

Group D.

[FR Doc. 97–30582 Filed 11–20–97; 8:45 am]

BILLING CODE 4710–45–M

DEPARTMENT OF STATE

[Public Notice No. 2634]

Shipping Coordinating Committee

Subcommittee for the Prevention of

Marine Pollution; Meeting Notice

The Subcommittee for the Prevention

of Marine Pollution (SPMP), a

subcommittee of the Shipping

Corodinating Committee, will conduct

an open meeting at 9:30 am on Monday,

December 15, 1997, in Room 2415, at

U.S. Coast Guard Headquarters, 2100

2nd Street, SW, Washington, DC 20593–

0001.

The purpose of the meeting is to

present the results, and to solicit

comments from the public regarding the

outcome, of the Conference of Parties to

the International Convention for the

Prevention of Pollution from Ships,

1973, as modified by the Protocol of

1978 relating thereto (MARPOL 73/78)

of the International Maritime

Organization (IMO) which met during

the period of September 15–26, 1997, at

IMO Headquarters in London, England.

The Conference adopted the Protocol of

1997, including a new Annex VI to

MARPOL 73/78 which contains

regulations for the prevention of air

pollution from ships, as well as the

mandatory Technical Code on control of

emissions of nitrogen oxides from new

marine diesel engines. In light of these

developments, the United States must

decide if it should be signatory to the

Protocol of 1997. The Coast Guard

would, therefore, like to receive any

comments from the public on how the

United States should proceed with

regard to ratification of the Protocol of

1997.

All members of the maritime industry

are encouraged to send representatives

to participate in this meeting and

provide comments regarding the new

Annex VI to MARPOL 73/78, and those

issues affecting your maritime industry.

Members of the public may attend

this meeting up to the seating capacity

of the room. Interested persons may

seek information by writing: Mr. Wayne

Lundy, U.S. Coast Guard Headquarters,

Commandant (G–MSE–3), 2100 2nd

Street, SW, Washington, DC 20593–0001

or by calling: (202) 267–2206.

Dated: November 10, 1997.

Stephen M. Miller,

Executive Secretary, Shipping Coordinating

Committee.

[FR Doc. 97–30583 Filed 11–20–97; 8:45 am]

BILLING CODE 4710–07–M

DEPARTMENT OF STATE

[Public Notice No. 2633]

Shipping Coordinating Committee

Subcommittee on Safety of Life at Sea;

Working Group on Safety of

Navigation; Notice of Meeting

The Working Group on Safety of

Navigation of the Subcommittee on

Safety of Life at Sea (SOLAS) will

conduct an open meeting at 9:30 AM on

Thursday, December 11, 1997, in room

6103, U.S. Coast Guard Headquarters,

2100 Second Street, S.W., Washington,

DC.

The purpose of the meeting is to

prepare for the 44th session of the

Subcommittee on Safety of Navigation

(NAV) of the International Maritime

Organization (IMO) which is scheduled

for July 15–19, 1998, at the IMO

Headquarters in London.

Items of principal interest on the

agenda are:

—Routing of ships, ship reporting, and

related matters

—Amendments to the International

Regulations for Prevention of

Collisions at Sea, 1972 (72 COLREGS)

—Revision of SOLAS chapter V

—Development of measures

complementary to the Code for Safe

Carriage of Irradiated Nuclear Fuel

(INF)

—Navigational aids and related matters

—International Telecommunication

Union (ITU) matters including

Radiocommunication ITU–R Study

Group 8

—Operational aspects of wing in ground

(WIG) craft: possible amendments to

COLREGS

—Revision of the High Speed Craft

(HSC) Code

Members of the public may attend

these meetings up to the seating