69598 Federal Register / Vol. 65, No. 223 / Friday, November 17, 2000 / Notices

4 15 U.S.C. 78f(b)(6). 5 17 CFR 200.30–3(a)(12).

that the Exchange’s provision for a

single mediation session and incentive

payment of the mediator’s fee, up to

$500, is helpful in encouraging their

clients to agree to try mediation. The

average mediation settles or reaches an

impasse after approximately two

sessions.

The Exchange is also proposing to

allow parties to mediate without first

filing for arbitration. The current pilot

only applies to cases already filed with

the NYSE for arbitration. Allowing the

parties to mediate prior to filing an

arbitration may save the parties some

costs of arbitration. The party requesting

mediation will be required to pay a nonrefundable filing fee. This fee will be

based upon the filing fee required for

arbitration under Rule 629 for claims of

the same amount. If the case does not

settle after mediation,the Exchange will

apply the fee to the non-refundable

filing fee for arbitration. The parties are

also required to pay the mediator’s fee

and agree on how the fee will be shared.

The parties’ agreement to mediate will

not toll the time limitation for

submission of a claim to arbitration.

As under the original pilot, cases with

claims for less than $250,000 may also

be mediated when the parties agree.

However, in these cases the parties are

responsible for payment of the entire

mediator’s fee. During the pilot

program, where the parties have agreed

to mediate claims below $500,000, 76

percent (16 of 21) have settled.

Administrative Conferences

Since November of 1998, the pilot

program has provided for an

administrative conference with the

parties and arbitrators in cases over

$500,000. The conference allows the

arbitrators to set deadlines early in the

case and resolve preliminary issues with

the aim of expediting the arbitration. To

date, 124 administrative conferences

have been conducted. Most

commentators supported the

administrative conference with certain

changes. The Exchange is proposing to

amend and extend the pilot for two

years.

In order to expedite a greater number

of claims, the Exchange is proposing to

lower the threshold for administrative

conferences from $500,000 to $250,000.

the Exchange is also proposing that, by

default, the chairperson of the panel

conduct the conference by telephone.

This will allow the staff to schedule the

conference earlier because it will

involve coordinating the schedules of

fewer persons. In cases involving public

customers, a public arbitrator will

conduct the administrative conference

unless the public customer requests, in

writing, a securities arbitrator. The

Chairperson shall have discretion to

conduct the conference in-person and

may request that all of the arbitrators

attend the conference. Under the

amended pilot, the Director of

Arbitration will schedule the conference

90 days after service of the Statement of

Claim, rather than 30 days after the

answer is filed. The additional period of

time is intended to permit the parties to

frame the issues for the administrative

conference. The administrative

conference pilot does not affect the

parties’ right to request a pre-hearing

conference to resolve discovery disputes

and other preliminary matters under

Rule 619.

2. Statutory Basis

The Exchange believes that the

proposed rule change is consistent with

Section 6(b)(5) of the Act 4 in that it

promotes just and equitable principles

of trade by ensuring that members and

member organizations and the public

have a fair and impartial forum for the

resolution of their disputes.

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.

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

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 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 proposed rule

change 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 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 will also be

available for inspection and copying at

the principal office of the NYSE. All

submissions should refer to File No.

SR–NYSE–00–39 and should be

submitted by December 8, 2000.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.5

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–29467 Filed 11–16–00; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF STATE

[Public Notice 3476]

Determination; Assistance to the

National Democratic Alliance (NDA)

Pursuant to section 451 of the Foreign

Assistance Act of 1961, as amended (22

U.S.C. sec. 2261) (the ‘‘Act’’), and

section 1–201 of Executive Order 12163,

as amended, I hereby authorize,

notwithstanding any other provision of

law, the use of up to $3.0 million in FY

2000 funds made available under

Chapter IV of Part II of the Act for

assistance to the civilian wing of the

Sudanese National Democratic Alliance.

This authorization shall be reported to

Congress immediately and published in

the Federal Register.

Dated: October 31, 2000.

Madeline Albright,

Secretary of State.

[FR Doc. 00–29520 Filed 11–16–00; 8:45 am]

BILLING CODE 4710–26–P