Federal Register / Vol. 63, No. 112 /Thursday, June 11, 1998 / Notices 32033

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

2 17 CFR 240.19b–4.

3See Letter from T. Grant Callery, General

Counsel, NASD to Katherine England, Assistant

Director, Commission dated May 19, 1998. Several

additional non-substantive textual changes were

also provided by telephone call on June 2, 1998.

Telephone call between Alden Adkins, General

Counsel, NASD Regulation and Mandy S. Cohen,

Division of Market Regulation, Commission.

trade on the NYSE and that listing its

Security on such Exchange would

enhance its competitive position.

By letter dated April 24, 1998, the

Amex informed the Company that it had

no objection to the withdrawal of the

Company’s Security from listing and

registration on the Amex.

By reason of Section 12(b) of the Act

and the rules and regulations

thereunder, the Company shall continue

to be obligated to file reports with the

Commission and the NYSE under

Section 13 of the Act.

Any interested person may, on or

before June 25, 1998, submit by letter to

the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

N.W., Washington, D.C. 20549, facts

bearing upon whether the application

has been made in accordance with the

rules of Exchange and what terms, if

any, should be imposed by the

Commission for the protection of

investors. The Commission, based on

the information submitted to it, will

issue an order granting the application

after the date mentioned above, unless

the Commission determines to order a

hearing on the matter.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 98–15504 Filed 6–10–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

Issuer Delisting; Notice of Application

to Withdraw From Listing and

Registration; (GP Strategies

Corporation, Common Stock, $.01 Par

Value) File No. 1–7234

June 4, 1998.

GP Strategies Corporation

(‘‘Company’’) has filed an application

with the Securities and Exchange

Commission (‘‘Commission’’), pursuant

to Section 12(d) of the Securities

Exchange Act of 1934 (‘‘Act’’) and Rule

12d2–2(d) promulgated thereunder, to

withdraw the above specified Security

(‘‘Security’’) from listing and

registration on the Pacific Exchange,

Inc. (‘‘PXC’’ or ‘‘Exchange’’).

The reasons cited in the application

for withdrawing the Security from

listing and registration include the

following:

The Security has been listed for

trading on the PCX and, pursuant to a

Registration Statement on Form 8–A

which became effective March 23, 1998,

the New York Stock Exchange, Inc.

(‘‘NYSE’’). Trading in the Security

commenced on the NYSE on March 27,

1998, and concurrently therewith such

Security was suspended from trading on

the PCX.

In making the decision to withdraw

its Security from listing and registration

on the PCX, the Company believes that

the NYSE offers enhanced visibility and

will enable the Company to further

broaden its institutional shareholder

base.

By letter dated April 8, 1998, the PCX

informed the Company that it had no

objection to the withdrawal of the

Company’s Security from listing and

registration on the PCX.

By reason of Section 12(b) of the Act

and the rules and regulations

thereunder, the Company shall continue

to be obligated to file reports with the

Commission and the NYSE under

Section 13 of the Act.

Any interested person may, on or

before June 25, 1998, submit by letter to

the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

N.W., Washington, D.C. 20549, facts

bearing upon whether the application

has been made in accordance with the

rules of the Exchange and what terms,

if any, should be imposed by the

Commission for the protection of

investors. The Commission, based on

the information submitted to it, will

issue an order granting the application

after the date mentioned above, unless

the Commission determines to order a

hearing on the matter.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 98–15503 Filed 6–10–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–40062; File No. SR–NASD–

98–36]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

NASD Regulation, Inc. Relating to AtLarge Industry Members of the

National Adjudicatory Council

June 3, 1998.

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 May 12,

1998, the National Association of

Securities Dealers, Inc. (‘‘NASD’’) filed

with the Securities and Exchange

Commission (‘‘Commission’’) the

proposed rule change as described in

Items I, II, and III below, which Items

have been prepared by NASD

Regulation, Inc. (‘‘NASD Regulation’’).

The filing was thereafter amended on

May 19, 1998.3 The Commission is

publishing this notice to solicit

comments on the proposed rule change,

as amended, from interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

NASD Regulation proposes to amend

Article V, Section 5.2 of its By-Laws

relating to the composition of the

National Adjudicatory Council

(‘‘NAC’’). The NAC, which is

responsible for overseeing Association

disciplinary proceedings, is balanced

between industry and non-industry

members. The current by-laws require

the NASD Regulation Board of

Governors to divide the United States

into various geographical regions for the

purpose of selecting nominees for

industry positions on the NAC. The

purpose of the current proposal is to

differentiate between those industry

positions on the NAC that are subject to

such regional nomination requirements,

and those that are not. The following

sets forth the text of the proposed rule

change. Proposed new language is

italicized; proposed deletions are in

brackets.

BY-LAWS OF NASD REGULATION,

INC

* * * * *

ARTICLE V

NATIONAL ADJUDICATORY

COUNCIL

* * * * *

Number of Members and Qualifications

Sec. 5.2(a) The National Adjudicatory

Council shall consist of no fewer than

12 and no more than 14 members. The

number of Non-Industry members,

including at least three Public members,

shall equal or exceed the number of

Industry members. In 1999 and

thereafter, each [the Industry members

shall represent a] geographic region

[designated] established by the Board

under Article VI, Section 6.1 shall be

represented by an Industry member.