Federal Register / Vol. 60, No. 236 / Friday, December 8, 1995 / Notices 63087

1Rule 19d–1(c)(2) under the Act, 17 CFR

240.19d–1(c)(2), authorizes national securities

exchanges to adopt minor rule violation plans for

the summary discipline and abbreviated reporting

of minor rule violations by exchange members and

member organizations.

selection of candidates for executive

development programs, issuing a

performance appraisal rating, issuing

performance awards, nominating for

Meritorious and Distinguished

Executive ranks, and removal,

reduction-in-grade, and other personnel

actions based on performance.

g. To provide information to the

White House on executives with

noncareer appointments in the Senior

Executive Service, in positions formerly

in the General Schedule filled by

noncareer executive assignments, in

excepted positions paid at Executive

Schedule pay rates, and in positions in

the Senior Level pay system or other

pay systems equivalent to those

described which are filled by

Presidential appointment or excepted

from the competitive service because

they are of a confidential or policydetermining character.

RETENTION AND DISPOSAL:

Delete current entry; insert:

Records are retained for varying

lengths of time, in accordance with

disposition schedules approved by

NARA. Disposal of manual records is by

shredding or burning, electronic

databases are erased.

SYSTEM MANAGER(S) AND ADDRESSES:

Delete current entry, insert: Director,

Office of Executive Resources, Office of

Personnel Management, 1900 E Street,

NW., Washington, DC 20415–0001.

OPM/CENTRAL–14

ROUTINE USES OF RECORDS MAINTAINED IN THE

SYSTEM, INCLUDING CATEGORIES OF USERS AND

THE PURPOSES OF SUCH USES:

Routine uses 1 through 11 of the

Prefatory Statement at the beginning of

OPM’s system notices apply to the

records maintained within this system.

The routine uses listed below are

specific to this system of records only:

a. To disclose records to appropriate

Federal, State and local agencies if

necessary and relevant to administering

Federal financial or nonfinancial

assistance programs or benefits.

b. To disclose records for performance

of a Federal duty to a State or local

agency, or financial institution.

c. To disclose information on

excluded health care providers to other

persons involved in or affected by the

action.

d. To disclose information to agencies

or organizations that license, certify,

regulate, investigate, or prosecute

persons or organizations that provide

health-related services or items to

determine possible disqualifying

actions, practices, or conditions.

[FR Doc. 95–29879 Filed 12–7–95; 8:45 am]

BILLING CODE 6325–01–P

POSTAL RATE COMMISSION

[Order No. 1093; Docket No. A96–8]

Sedan, Minnesota 56380 (Robert C.

Hawn, Petitioner); Notice and Order

Accepting Appeal and Establishing

Procedural Schedule Under 39 U.S.C.

§ 404(b)(5)

Issued December 4, 1995.

Docket Number: A96–8.

Name of Affected Post Office: Sedan,

Minnesota 56380.

Name(s) of Petitioner(s): Robert C.

Hawn.

Type of Determination: Closing.

Date of Filing of Appeal Papers:

November 29, 1995.

Categories of Issues Apparently

Raised:

1. Effect on postal services [39 U.S.C.

§ 404(b)(2)(C)].

2. Effect on the community [39 U.S.C.

§ 404(b)(2)(A)].

After the Postal Service files the

administrative record and the

Commission reviews it, the Commission

may find that there are more legal issues

than those set forth above. Or, the

Commission may find that the Postal

Service’s determination disposes of one

or more of those issues.

The Postal Reorganization Act

requires that the Commission issue its

decision within 120 days from the date

this appeal was filed (39 U.S.C. § 404

(b)(5)). In the interest of expedition, in

light of the 120-day decision schedule,

the Commission may request the Postal

Service to submit memoranda of law on

any appropriate issue. If requested, such

memoranda will be due 20 days from

the issuance of the request and the

Postal Service shall serve a copy of its

memoranda on the petitioners. The

Postal Service may incorporate by

reference in its briefs or motions, any

arguments presented in memoranda it

previously filed in this docket. If

necessary, the Commission also may ask

petitioners or the Postal Service for

more information.

The Commission orders:

(a) The Postal Service shall file the

record in this appeal by December 14,

1995.

(b) The Secretary of the Postal Rate

Commission shall publish this Notice

and Order and Procedural Schedule in

the Federal Register.

By the Commission.

Margaret P. Crenshaw,

Secretary.

Appendix

November 29 1995—Filing of Appeal letter

December 4, 1995—Commission Notice and

Order of Filing of Appeal

December 26, 1995—Last day of filing of

petitions to intervene [see 39 CFR

§ 3001.111(b)]

January 3, 1995—Petitioner’s Participant

Statement or Initial Brief [see 39 C.F.R.

§ 3001.115 (a) and (b)]

January 23, 1996—Postal Service’s

Answering Brief [see 39 CFR

§ 3001.115(c)]

February 7, 1996—Petitioner’s Reply Brief

should Petitioner choose to file one [see

39 C.F.R. § 3001.115(d)]

February 14, 1996—Deadline for motions by

any party requesting oral argument. The

Commission will schedule oral argument

only when it is a necessary addition to

the written filings [see 39 CFR

§ 3001.116]

March 28, 1996—Expiration of the

Commission’s 120-day decisional

schedule [see 39 U.S.C. § 404(b)(5)]

[FR Doc. 95–29926 Filed 12–7–95; 8:45 am]

BILLING CODE 7710–FW–P

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–36543; File No. SR–CSE–

95–09]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

the Cincinnati Stock Exchange, Inc.,

Relating to Including Within the

Exchange’s Minor Rule Plan Rule 4.2

Which Deals with the Furnishing of

Records to the Exchange

November 30, 1995.

Pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’), 15 U.S.C. 78s(b)(1), notice is

hereby given that on November 16,

1995, the Cincinnati Stock Exchange,

Inc. (‘‘CSE’’ or ‘‘Exchange’’) filed with

the Securities and Exchange

Commission (‘‘Commission’’) a

proposed rule change to amend its

Minor Rule Violation Plan1 as described

in Items I, II, and III below, which Items

have been prepared by the selfregulatory organization. The

Commission is publishing this notice to

solicit comments on the proposed rule

change from interested persons.
63088 Federal Register / Vol. 60, No. 236 / Friday, December 8, 1995 / Notices

2Rule 8.14 was approved by the Commission on

September 1, 1988. See Securities Exchange Act

Release No. 26053 (September 1, 1988), 53 FR

34851 (September 8, 1988) (order approving File

No. SR–CSE–88–1). A subsequent addition of a rule

to the Rule 8.14 Violations List was made in

Securities Exchange Act Release No. 27609 (January

11, 1990), 55 FR 1758 (January 18, 1990) (order

approving File No. SR–CSE–89–6).

3CSE Rule 8.14, entitled Imposition of Fines for

Minor Violation(s) of Rules, contains a list of minor

rule violations as to which the Exchange may

impose such fines. Although the CSE’s Board of

Trustees makes the initial determination of whether

a CSE rule violation is ‘‘minor’’ for purposes of CSE

Rule 8.14, this determination is subject to

Commission approval pursuant to Section 19(d)(1)

of the Act and paragraph (c)(2) of Rule 19d–1 under

the Act. See Release No. 26053 n.5, supra note 2.

4 Id.

5 Id.

6CSE rule 4.2 provides that ‘‘every member shall

furnish to the Exchange, upon request and in a time

and manner required by the Exchange, current

copies of any financial information filed with the

Commission, as well as any records, files or

financial information pertaining to transactions

executed on or through the Exchange. Further, the

Exchange shall be allowed access, at any time, to

the books and records of the member in order to

obtain or verify information related to transactions

executed on or through the Exchange or activities

relating to the Exchange.’’

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

8 15 U.S.C. 78f(b)(7) and 78f(d)(1).

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Exchange hereby amends Rule

8.14 regarding the imposition of fines

for minor violations. The text of the

proposed rule change is as follows (new

text is italicized; deleted text is

bracketed]:

Rule 8.14 Imposition of Fines for

Minor Violation(s) of Rule

Interpretations and Policies: .01

(d) Rule 4.1, Rule 4.2 and

Interpretation, thereunder, requiring the

submission of responses to Exchange

requests for trading data within

specified time 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

CSE 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 CSE 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

Rule 8.14 2 authorizes the Exchange,

in lieu of commencing a disciplinary

proceeding before a hearing panel, to

impose a fine not to exceed $2,500, on

any member, member organizations, or

registered or non-registered employee of

a member organization for a minor

violation of certain specified Exchange

rules.3

The purpose of the Rule 8.14

procedure is to improve the Exchange’s

ability to efficiently meet its statutory

enforcement responsibilities by

establishing a program for the

imposition of fines for minor violations

of Exchange Rules and by designating

certain specified Rule violations as

minor Rule violations.4 In File No. SR–

CSE–88–1,5 which initially set forth the

provisions and procedures of Rule 8.14,

the Exchange indicated that it would

periodically prepare and announce to its

members and member organizations a

revised list of Exchange Rules for

violation of which the Exchange may

impose fines pursuant to Rule 8.14, as

well as the fines that may be imposed

for such violation.

The Exchange is presently adding

Rule 4.2 6 to the list of rules subject to

possible imposition of fines under Rule

8.14 procedures. The purpose of the

proposed Rule Change is to clarify that

Exchange Rule 4.2 is a part of the

Exchange’s Minor Rule Violation Rule.

Exchange Rule 4.2 deals with the

furnishing of information to the

Exchange upon request. Rule 4.2 is not

currently included in the specific list of

Rules to which the Minor Rule Plan

applies, however, the text listed under

Rule 4.1 which is noted therein,

addresses the requirements of Rule 4.2

as well as Rule 4.1. The Exchange

believes that the specific inclusion of

Rule 4.2 will make it clear to members

that the Minor Rule Plan provisions

apply to it.

2. Statutory Basis

The proposed rule change is

consistent with Section 6(b)(6) of the

Act 7 in that it will provide a procedure

whereby member organizations can be

‘‘appropriately disciplined’’ in those

instances when a rule violation is minor

in nature, but a sanction more serious

than a warning or cautionary letter is

appropriate. The rule change provides a

fair procedure for imposing such

sanctions, in accordance with the

requirements of Sections 6(b)(7) and

6(d)(1) of the Act.8

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The CSE does not believe that the

proposed rule change will impose any

inappropriate 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 either

solicited or received.

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 other 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 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.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street NW.,

Washington, D.C. 20549. 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

Section, 450 Fifth Street NW.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the Exchange. All submissions

should refer to File No. SR–CSE–95–09

and should be submitted by December

29, 1995.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–29922 Filed 12–7–95; 8:45 am]

BILLING CODE 8010–01–M