Federal Register / Vol. 65, No. 188 / Wednesday, September 27, 2000 / Notices 58139

6 17 CFR 200.30–3(a)(12).

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

2 17 CFR 240.19b–4.

3See Letter from Cindy L. Sink, Senior Attorney,

Regulatory Policy, PCX, to Jennifer L. Colihan,

Attorney, Division of Market Regulation,

Commission, dated September 11, 2000. In

Amendment No. 1, the Exchange deleted the word

‘‘exclusive’’ from Article IV, Section 9(a) of the PCX

Constitution as the Exchange did not intend the

jurisdiction described in that Section to be

exclusive to the Ethics and Business Conduct

Committee (‘‘EBCC’’ or ‘‘Committee’’). Also, the

Exchange represented that the proposed rule change

was approved by the PCX membership on January

27, 2000. Lastly, the Exchange provided an example

of where a Floor Trading Committee (‘‘FTC’’) may

act as the disciplinary committee in place of the

EBCC.

4An example of a situation where an FTC may

act as the disciplinary committee is a ‘‘Marking the

Close’’ trading violation. That is, an incident

involves a market maker changing the quotes at the

close to not accurately reflect the market to improve

the market maker’s position. See Amendment No.

1, supra note 3.

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

6 15 U.S.C. 78f(b)(5).

7 15 U.S.C. 78f(b)(6).

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 4 U.S.C. 552, will be

available for inspection and copying in

the Commission’s Public Reference

Room. Copies of such filing will also be

available for inspection and copying at

the principal office of the NYSE.

All submissions should refer to File

No. SR–NYSE–00–37 and should be

submitted by October 18, 2000.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–24736 Filed 9–26–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43312; File No. SR–PCX–

00–12]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change and

Amendment No. 1 by the Pacific

Exchange, Inc. Relating to Disciplinary

Jurisdiction of the Ethics and

Business Conduct Committee

September 20, 2000.

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 26,

2000, the Pacific Exchange, Inc. (‘‘PCX’’

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 PCX. On September 12,

2000, the PCX filed Amendment No. 1

to the proposed rule change.3 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 PCX proposes to broaden the

jurisdiction of the EBCC to include the

enforcement of rules and regulations

relating to trading, order, decorum,

health, safety, and welfare on the

trading floors.

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

PCX 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

Currently, Article IV, Section 9(b) of

the PCX Constitution, regarding the

jurisdiction of the EBCC, states that

‘‘The jurisdiction of this Committee

shall not extend to the enforcement of

rules and regulations of the Floor

Trading Committees relating to trading,

order, decorum, health, safety, and

welfare on the trading floors, or to

hearings held by and sanctions imposed

by such committees relating to such

matters.’’ The Exchange now proposes

to expand the disciplinary jurisdiction

of the EBCC to include the enforcement

of rules and regulations relating to

trading, order, decorum, health, safety,

and welfare on the trading floors by

deleting this provision from the PCX

Constitution.

Currently, these rules and regulations

are within the exclusive jurisdiction of

the FTCs. It is intended that the EBCC

will be used as the primary disciplinary

committee at the Exchange and the

FTCs will retain jurisdiction to hear

disciplinary matters, if necessary. For

example, it may be appropriate to take

a case to an FTC rather than the EBCC

if the case involves technical issues. In

such a case, having the expertise of

Floor Officials would be appropriate.4

The Exchange proposes this change to

centralize disciplinary actions with one

committee at the Exchange. The

Exchange believes that having one

disciplinary committee will better

assure consistency in the decisions

rendered. Moreover, the Exchange notes

that, unlike the EBCC, the members of

the FTCs are Floor Officials on the

trading floors.

In that regard, the Exchange believes

that in the process of adjudicating

disciplinary cases that arise on the

trading floor, it is less likely that the

members of the EBCC will have

personal knowledge of the relevant

incident of a Floor Official ruling

relating to the incident. Therefore, the

Exchange believes that making the

EBCC, in general, the sole disciplinary

committee will result in a more

objective disciplinary process at the

PCX.

2. Basis

The Exchange believes the proposed

rule change is consistent with section

6(b) 5 of the Act, in general, and furthers

the objectives of section 6(b)(5),6 in

particular, in that it is designed to

regulate communications to and from

the Exchange’s Options Trading Floor in

a manner that promotes just and

equitable principles of trade and

protects investors and the public

interest. The proposal is also consistent

with section 6(b)(6) 7 of the Act in that

it is designed to assure that Exchange

members and persons associated with

Exchange members are appropriately

disciplined for violations 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 burden on competition that is not

necessary or appropriate in furtherance

of the purposes of the Act.

58140 Federal Register / Vol. 65, No. 188 / Wednesday, September 27, 2000 / Notices

8 17 CFR 200.30–3(a)(12).

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants, or Others

Written comments on the proposed

rule change 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 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 self-regulatory

organization 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 proposal is

consistent with the Act. Persons making

written submissions should file six

copies thereof with the Secretary,

Securities and Exchange Commission,

450 Fifth Street, NW., Washington, DC

20549–0609. Copies of the submission.

all subsequent amendments, all written

statement 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 will also be

availabe for inspection and copying at

the principal office of the PCX. All

submissions should refer to File No.

SR–PCX–00–12 and should be

submitted by October 18, 2000.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.8

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–24734 Filed 9–26–00; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

[Licensee No. 03/73–0220]

Meridian Venture Partners II, L.P.;

Notice Seeking Exemption Under

Section 312 of the Small Business

Investment Act, Conflicts of Interest

Notice is hereby given that Meridian

Venture Partners II, L.P., 259 Radnor

Chester Road, Suite 140, Radnor, PA

19087, a Federal Licensee under the

Small Business Investment Act of 1958,

as amended (the ‘‘Act’’), in connection

with the financing of a small concern,

has sought an exemption under section

312 of the Act and section 107.730,

Financings which Constitute Conflicts

of Interest of the Small Business

Administration (‘‘SBA’’) rules and

regulations (13 CFR 107.730 (2000)).

Meridian Venture Partners II, L.P.

proposes to provide equity/debt

financing to Dorland Data Networks,

L.P., 1500 Walnut Street, Suite 1000,

Philadelphia, PA 19102. The purpose of

the financing is to provide additional

working capital and to reduce debt.

The financing is brought within the

purview of Sec. 107.730(a)(1) of the

Regulations because Meridian Venture

Partners, an Associate of Meridian

Venture Partners II, L.P., currently owns

greater than 10 percent of Dorland Data

Networks, L.P., and therefore, Dorland

Data Networks, L.P., is considered an

Associate of Meridian Venture Partners

II, L.P. as defined in Sec. 107.50 or the

regulations.

Notice is hereby given that any

interested person may submit written

comments on the transaction to the

Associate Administrator for Investment,

U.S. Small Business Administration,

409 Third Street, SW, Washington, DC

20416.

Dated: September 20, 2000.

Don A. Christensen,

Associate Administrator for Investment.

[FR Doc. 00–24817 Filed 9–26–00; 8:45 am]

BILLING CODE 8025–01–P

SMALL BUSINESS ADMINISTRATION

Notice Seeking Exemption Under

Section 312 of the Small Business

Investment Act, Conflicts of Interest

Notice is hereby given that TD Javelin

Capital Fund II, LP (‘‘TD Javelin II’’),

2850 Cahaba Road, Suite 240,

Birmingham, Alabama 35223, a Federal

Licensee under the Small Business

Investment Act of 1958, as amended

(‘‘the Act’’), and TD Lighthouse Capital

Fund, LP (‘‘TD Lighthouse’’, and

together with TD Javelin II the

‘‘Funds’’), 303 Detroit Street, Suite 301,

Ann Arbor, Michigan 48104, a Federal

Licensee under the Act, in connection

with the financing of a small concern,

have sought an exemption under section

312 of the Act and section 107.730,

Financings which Constitute Conflicts

of Interest of the Small Business

Administration (‘‘SBA’’) rules and

regulations (13 CFR 107.730 (2000)).

The Funds propose to provide equity

financing to Supplypro, Inc.

(‘‘Supplypro’’), 6215 Ferris Square, San

Diego, California 92121. The financing

is contemplated for product

development and working capital.

The financing is brought within the

purview of Sec. 107.730 (a)(1) of the

Regulations because Tullis-Dickerson

Capital Focus II, LP, and TD Origen

Capital Fund, LP, Associates of the

Funds, currently own greater than 10

percent of Supplypro, and therefore

Supplypro is considered an Associate of

each of TD Javelin II and TD Lighthouse

as defined in Sec. 107.50 of the

regulations.

Notice is hereby given that any

interested person may submit written

comments on the transaction to the

Associate Administrator for Investment,

U.S. Small Business Administration,

409 Third Street, SW, Washington, DC

20416.

Dated: September 19, 2000.

Don A. Christensen,

Associate Administrator for Investment.

[FR Doc. 00–24818 Filed 9–26–00; 8:45 am]

BILLING CODE 8025–01–M

SMALL BUSINESS ADMINISTRATION

[Declaration of Disaster #3296]

State of Maryland

Allegany County and the contiguous

counties of Garrett and Washington in

Maryland; Hampshire, Mineral, and

Morgan Counties in West Virginia; and

Bedford, Fulton, and Somerset Counties

in Pennsylvania constitute a disaster

area as a result of damages caused by

flooding that occurred on September 11,

2000. Applications for loans for

physical damage as a result of this

disaster may be filed until the close of

business on November 17, 2000 and for

economic injury until the close of

business on June 18, 2001 at the address

listed below or other locally announced

locations: U.S. Small Business

Administration, Disaster Area 1 Office,

360 Rainbow Boulevard South, 3rd

Floor, Niagara Falls, NY 14303.

The interest rates are: