[Federal Register Volume 62, Number 9 (Tuesday, January 14, 1997)]
[Notices]
[Pages 1935-1936]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-807]


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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-38124; File No. SR-Amex-96-48]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by American Stock Exchange, Inc. 
Relating to a Fee Change

January 6, 1997.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 
1934,\1\ notice is hereby given that on December 16, 1996, the American 
Stock Exchange, Inc. (``Amex'' or ``Exchange'') filed with the 
Securities and Exchange Commission (``SEC'' or ``Commission'') the 
proposed fee 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 fee change from interested persons.
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    \1\ 15 U.S.C. Sec. 78s(b)(1).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    Amex is issuing a one-time credit against the Exchange's monthly 
Floor Facility Fee for those members who were charged such fee for the 
months of August through December, 1996 (amounting to $583.35 per 
member for such period).

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 fee 
change and discussed any comments it received on the proposed fee 
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
    As the Exchange has had a rewarding year from a financial 
perspective, it has decided to issue a one-time credit against its 
monthly Floor Facility Fee for those members who were charged such fee 
for the months of August through December, 1996 (amounting to $583.35 
per member for such period).
2. Statutory Basis
    The proposed fee change is consistent with Section 6(b) of the Act 
\2\ in general and furthers the objectives of Section 6(b)(4) in 
particular in that it is intended to assure the equitable allocation of 
reasonable dues, fees, and other charges among Exchange members, 
issuers, and other persons using the Exchange's facilities.
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    \2\ 15 U.S.C. Sec. 78f(b).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The fee change will impose no burden on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    No written comments were solicited or received with respect to the 
fee change.

[[Page 1936]]

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 \3\ and 
subparagraph (e) of Rule 19b-4 \4\ thereunder. At any time within 60 
days of the filing of such proposed fee change, the Commission may 
summarily abrogate such fee 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.
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    \3\ 15 U.S.C. Sec. 78s(b)(3)(A).
    \4\ 17 CFR 19b-4(e).
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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 fee change that are filed with the Commission, and 
all written communications relating to the fee 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. Sec. 552, will 
be available for inspection and copying in the Commission's Public 
Reference Room in Washington, DC. Copies of such filing will also be 
available for inspection and copying at the principal office of the 
Amex. All submissions should refer to File No. SR-Amex-96-48 and should 
be submitted by January 27, 1997.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\5\
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    \5\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-807 Filed 1-13-97; 8:45 am]
BILLING CODE 8010-01-M