Federal Register / Vol. 60, No. 57 / Friday, March 24, 1995 / Notices 15613

1 ‘‘MAX’’ is the CHX’s order routing and

execution system. See Article XX, Rule 37(b) of the

CHX’s Rules for a complete description of the MAX

system.

2The MAX Rules were codified in Securities

Exchange Act Release No. 35010 (November 28,

1994), 59 FR 62767 (December 6, 1994).

T. Larkins, at least five days before the

meeting if possible, so that appropriate

arrangements can be made to allow the

necessary time during the meeting for

such statements. Use of still, motion

picture, and television cameras during

this meeting may be limited to selected

portions of the meeting as determined

by the Chairman. Information regarding

the time to be set aside for this purpose

may be obtained by contacting the

ACRS Executive Director prior to the

meeting. In view of the possibility that

the schedule for ACRS meetings may be

adjusted by the Chairman as necessary

to facilitate the conduct of the meeting,

persons planning to attend should check

with the ACRS Executive Director if

such rescheduling would result in major

inconvenience.

I have determined in accordance with

Subsection 10(d) P.L. 92–463 that it is

necessary to close portions of this

meeting noted above to discuss

proprietary information per 5 U.S.C.

552b(c)(4); information that involves the

internal personnel rules and practices of

this Advisory Committee per 5 U.S.C.

552b(c)(2); and to discuss information

the release of which would constitute a

clearly unwarranted invasion of

personal privacy per 5 U.S.C. 552b(c)(6).

Further information regarding topics

to be discussed, whether the meeting

has been canceled or rescheduled, the

Chairman’s ruling on requests for the

opportunity to present oral statements

and the time allotted therefore can be

obtained by containing the ACRS

Executive Director, Dr. John T. Larkins

(telephone 301–415–7361), between

7:30 a.m. and 4:15 p.m. EST.

Dated: March 20, 1995.

Andrew L. Bates,

Advisory Committee Management Officer.

[FR Doc. 95–7303 Filed 3–23–95; 8:45 am]

BILLING CODE 7590–01–M

SECURITIES AND EXCHANGE

COMMISSION

Under Review by Office of

Management and Budget

Acting Agency Clearance Officer: David

T. Copenhafer, (202) 942–8800.

Upon Written Request, Copy Available

From: Securities and Exchange

Commission, Office of Filings and

Information Services, 450 Fifth

Street NW., Washington, D.C.

20549.

Proposed Rule and Form: Rule 204–4—

File No. 270–398; Form ADV–B—

File No. 270–398.

Notice is hereby given that, pursuant

to the Paperwork Reduction Act of 1980

(44 U.S.C. 3501 et seq.), the Securities

and Exchange Commission has

submitted for OMB approval Rule 204–

4 and Form ADV–B under the

Investment Advisers Act of 1940 (the

‘‘Advisers Act’’).

The proposed rule would require each

investment adviser, registered or

required to be registered under the

Adviser Act, that has the discretion to

direct client brokerage transactions and

receives services other than execution in

exchange for that brokerage, to provide

its clients with a report that would

contain information about its use of

client brokerage. The proposed form

would set forth the information required

to be included in the annual report. The

proposed rule does not involve any

burden separate from the requirement to

prepare and file the proposed form.

It is estimated that approximately

6,000 advisers would be required to file

Form ADV–B with the Commission, and

that each adviser completing the form

would incur 20 burden hours in its

preparation. The estimate of burden

hours is made solely for the purposes of

the Paperwork Reduction Act and is not

derived from a comprehensive or even

representative survey or study of the

cost of SEC rules and forms.

General comments may be directed to

the OMB Clearance Officer for the

Securities and Exchange Commission at

the address below. Comments

concerning the accuracy of the

estimated average burden hours for

compliance with Commission rules and

forms should be directed to David T.

Copenhafer, Acting Director, Office of

Information Technology, Securities and

Exchange Commission, 450 Fifth Street

NW., Washington, D.C. 20549, and to

the OMB Clearance Officer for the SEC,

Office of Information and Regulatory

Affairs (Paperwork Reduction Act

numbers 3235—new (for Rule 204–4),

3235—new (for Form ADV–B), Office of

Management and Budget, Room 3208,

New Executive Office Building,

Washington, D.C. 20543.

Dated: March 9, 1995.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–7236 Filed 3–23–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–35505; File No. SR–CHX–

95–09]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the

Chicago Stock Exchange Incorporated

Relating to Order Identifiers

March 17, 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 March 10, 1995,

the Chicago Stock Exchange

Incorporated (‘‘CHX’’ or ‘‘Exchange’’)

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 the selfregulatory organization. The

Commission is publishing this notice to

solicit comments on the proposed rule

change from interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The CHX proposes to amend Article

XX, Rule 37(b) of the CHX’s Rules to

add an order designator on the

Exchange’s MAX System.1

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 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 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

Article XX, Rule 37(b)(9) of the CHX’s

Rules requires orders sent via the MAX

System to include account identifiers.

When the MAX rules were codified, the

‘‘Z’’ designator was inadvertently

excluded.2 The ‘‘Z’’ designator allows