59042 Federal Register / Vol. 65, No. 192 / Tuesday, October 3, 2000 / Notices

15 15 U.S.C. 78o–3(b)(6). 16 17 CFR 200.30–3(a)(12).

the Exchange Act,15 which require that

the rules of an association 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 Regulation

believes that, under the proposed rule

change, OATS will continue to provide

a substantially enhanced body of

information regarding orders and

transactions and will improve NASD

Regulation’s ability to conduct

surveillance and investigations of

member firms for violations of the

Association’s and other applicable rules.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

NASD Regulation 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.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received from

Members, Participants, or Others

NASD Regulation neither solicited

nor received written comments.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within 35 days of the 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 NASD consents, the

Commission will:

(A) by order approve the 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 Exchange Act. In

particular, the Commission solicits

comments on the propriety of the

proposed time of receipt to be recorded

and reported to OATS for manual

orders. Currently, the time of receipt

recorded and reported to OATS is the

time the firm receives the order from a

customer. Under the proposed rule

change, this would continue to be the

time of receipt for manual orders that

are 10,000 shares or greater. For manual

orders of fewer than 10,000 shares,

however, the NASD has proposed that

the time of receipt to be recorded and

reported pursuant to the OATS rules be

the time the order is received by the

member’s trading desk or trading

department for execution or routing

purposes. The distinction is due to the

types of problems the NASD and the

Commission have encountered with

manual orders of various sizes. Manual

orders of greater than 10,000 shares are

more likely to be subject to potential

manipulation through delays in

transferring the orders to a firm’s trading

desk or trading department. Manual

orders of fewer than 10,000 shares,

however, may need to be more closely

examined for violations of the

Commission’s order handling rules. The

Commission seeks comment on whether

the proposed distinction between

manual orders of different sizes for

purposes of the proposed time of receipt

is reasonable.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549–0609. 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 office of the NASD. All

submissions should refer to File No.

SR–NASD–00–23 and should be

submitted by October 24, 2000.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.16

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–25333 Filed 10–2–00; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

(SBA)

Federal Assistance to Provide

Financial, Counseling, Technical

Assistance and Long-Term Training to

Small Business Owners and Those

Interested in Starting a Small Business

AGENCY: Small Business Administration.

ACTION: SBDC 2000 Program

Announcement for FY 2001 and CY

2001.

SUMMARY: The Small Business

Administration plans to issue an SBDC

program announcement. SBA plans to

issue an SBDC 2000 Program

Announcement for FY 2001 and CY

2001 to invite applicants from

Institutions of Higher Education and

Women’s Business Centers to establish,

manage, and oversee a Small Business

Development Center (SBDC) Network in

the State of Michigan.

The authorizing legislation is section

21 of the Small Business Act, (15 U.S.C.

648), as amended by section 6 of Pub.

L.101–515.

SBA’s Detroit District Office will hold

a bidders conference on November 6,

2000.

SBA’s Detroit District Office must

receive applications/proposals by

November 20, 2000.

SBA will select the applicants

competitively. The successful applicant

will receive an award to provide long

term training, counseling and technical

assistance to businesses/persons who

want to start or expand a small business.

The applicant must submit a one year

plan that describes the network,

proposed fund raising, training and

technical assistance activities. Award

recipients must provide non-Federal

matching funds, i.e., one-non Federal

dollar for each Federal dollar for the

project-year. At least half of the

matching requirement must be in cash.

The remainder may be in in-kind or in

waived indirect cost.

DATES: SBA will mail program

announcements to interested parties,

immediately, upon request. The

Opening date will be October 3, 2000

and the closing date will be November

3, 2000.

FOR FURTHER INFORMATION CONTACT:

Eugene Cornelius, (313) 226–7240.

Johnnie L. Albertson,

Associate Administrator for Small Business

Development Centers.

[FR Doc. 00–25368 Filed 10–2–00; 8:45 am]

BILLING CODE 8025–01–P