19618 Federal Register / Vol. 60, No. 75 / Wednesday, April 19, 1995 / Notices

14 17 CFR 200.30–3(a)(12) (1994).

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

2 17 CFR 240.19b–4.

3The Exchange stated that non-corporate or

partnership entities would have to be structured in

such a format that would qualify as a broker or

dealer registered with the SEC pursuant to the Act,

since this is a prerequisite to becoming an Exchange

member organization. Telephone conversation

between Michael D. Pierson, Senior Attorney, PSE,

and Elisa Metzger, Senior Counsel, SEC, on March

3, 1995.

4 15 U.S.C. 78f(b).

5 15 U.S.C. 78f(b)(2).

6 15 U.S.C. 78f(c).

pilot program. Specifically, the

Exchange believes that the additional

order types benefit from the advantages

of AUTOM, including efficient and

prompt order delivery and execution.

(B) Self-Regulatory Organization’s

Statement on Burden on Competition

The PHLX 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

Because the foregoing rule change: (1)

Does not significantly affect the

protection of investors or the public

interest; (2) does not impose any

significant burden on competition; and

(3) does not become operative for 30

days after April 4, 1995, it has become

effective pursuant to Section 19(b)(3)(A)

of the Act and Rule 19b–4(e)(6)

thereunder. In particular, the

Commission believes that the proposal

does not significantly affect the

protection of investors or the public

interest and does not impose any

significant burden on competition. At

any time within 60 days of the filing of

such proposed rule change, the

Commission may summarily abrogate

such rule 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.

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 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, DC. Copies of such filing

will also be available for inspection and

copying at the principal office of the

above-mentioned self-regulatory

organization. All submissions should

refer to the file number in the caption

above and should be submitted by May

10, 1995.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.14

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–9668 Filed 4–18–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–35600; File No. SR–PSE–

95–06]

Self-Regulatory Organizations; Pacific

Stock Exchange, Inc.; Order Granting

Approval to Proposed Rule Change

Relating to New Organizational

Structures

April 13, 1995.

On February 21, 1995, the Pacific

Stock Exchange, Inc. (‘‘PSE’’ or

‘‘Exchange’’) submitted to the Securities

and Exchange Commission (‘‘SEC’’ or

‘‘Commission’’), pursuant to Section

19(b)(1) of the Securities Exchange Act

of 1934 (‘‘Act’’) 1 and Rule 19b–4

thereunder,2 a proposed rule change to

amend Articles V and VIII of its

Constitution to allow for the admission

of entities with new organizational

structures as member organizations.

The proposed rule change was

published for comment in Securities

Exchange Act Release No. 35443 (March

6, 1995), 60 FR 13196 (March 10, 1995).

No comments were received on the

proposal. This order approves the

proposed rule change.

I. Proposal

The PSE Constitution currently allows

members of the Exchange to confer the

privileges of their memberships on a

firm which may be either a partnership

or a corporation. The Exchange is

proposing to amend Article VIII, Section

1(a) of its Constitution to provide that

the Exchange may, in its discretion, and

on such terms as the Exchange may

prescribe, approve as a member firm,

entities that have characteristics

essentially similar to corporations,

partnerships, or both.3 In addition, the

Exchange is proposing to amend Article

V, Sections 4, 5, and 7 of the PSE

Constitution (definitions of ‘‘member

firm,’’ ‘‘member organization,’’ and

‘‘associated person’’) to be consistent

with the proposed change to Article

VIII, Section 1(a). The Exchange is

proposing to add the phrase ‘‘or other

organization’’ to the definitions of

‘‘member firm’’ and ‘‘member

organization’’ and to add the phrases

‘‘member of a Limited Liability

Company’’ and ‘‘trustee of a business

trust’’ to the definition of ‘‘associated

person.’’ These amendments would

permit the Exchange to approve

business trusts, limited liability

companies and other organizational

structures as member organizations so

long as the characteristics of the entity

in question are essentially similar to

those of corporations or partnerships.

The Exchange believes that the rule

change is consistent with Section 6(b) of

the Exchange Act, in general, and

Section 6(b)(5) in particular, in that it is

designed to promote just and equitable

principles of trade and to protect

investors and the public interest.

II. Discussion

The Commission finds that the

proposed rule change is consistent with

the requirements of the Act and the

rules and regulations thereunder

applicable to a national securities

exchange, and, in particular, with the

requirements of Sections 6(b).4

Specifically, the Commission believes

the amendment is consistent with the

Section 6(b)(2) 5 of the Act, which

requires the rules of an exchange,

subject to the provisions of Section 6(c)

of the Act,6 to ensure that any registered

broker or dealer or natural person

associated with a registered broker or

dealer may become a member of the

exchange and any person may become

associated with a member thereof.

The PSE Constitution currently allows

members of the Exchange to confer the

privileges of their membership on a firm

which may be either a partnership or a

corporation. The amendments would

enable entities with new organizational

structures similar to corporations and

partnerships to become Exchange

members and be included in the

Exchange’s definition of a member

organization. As in the case of a

partnership or corporation applying for
Federal Register / Vol. 60, No. 75 / Wednesday, April 19, 1995 / Notices 19619

7 15 U.S.C. 78s(b)(2).

8 17 CFR 200.30–3(1)(12).

membership, the new entity will be

subject to all other requirements for

membership approval.

The Commission believes that the

amendments to Articles V and VIII of

the PSE Constitution reasonably balance

the Exchange’s interest in having the

flexibility to approve entities with new

organizational structures for Exchange

membership, with the regulatory

interests in protecting the financial and

structural integrity of a member

organization. For example, although the

amendments permit the Exchange to

approve business trusts, limited liability

companies, or other organizational

structures with characteristics of

corporations or partnerships as member

organizations, the PSE will review each

Exchange member organization

application on a case-by-case basis, and

prior to approving any such

organization for membership, the

Exchange must be satisfied that: (1) the

Exchange would legally have

appropriate jurisdiction over such an

entity; and (2) the permanency of the

entity’s capital is consistent with that

required of other member organizations.

III. Conclusion

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act,7 that the

proposed rule change (SR–PSE–95–06)

is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.8

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–9669 Filed 4–18–95; 8:45 am]

BILLING CODE 8010–01–M

SOCIAL SECURITY ADMINISTRATION

Office of Inspector General

Privacy Act of 1974; Report on

Changes to Systems of Records

AGENCY: Office of Inspector General

(OIG), SSA.

ACTION: Notice.

SUMMARY: This notice sets forth

information on two systems of records,

currently maintained by the Inspector

General of the Department of Health and

Human Services (HHS/IG), that are now

being duplicated and slightly modified

for use by the Inspector General of the

Social Security Administration (SSA/

IG).

FOR FURTHER INFORMATION CONTACT:

Olive Franklin, Office of Investigations,

(202)–619–2501.Glenn Sklar, Office of

the General Counsel, (410)–965–6247.

SUPPLEMENTARY INFORMATION: The Social

Security Independence and Program

Improvements Act of 1994 (SSIPIA),

Pub. L. 103–296, separated the Social

Security Administration (SSA) from its

parent agency, the Department of Health

and Human Services (HHS), and

established SSA as an independent

agency effective March 31, 1995. The

SSIPIA also required that all functions

relating to SSA that were previously

performed by the HHS/IG must be

transferred to the SSA/IG. In order to

perform these functions, the SSA/IG

must duplicate, and slightly modify,

two systems of records that are currently

maintained by the HHS/IG. Therefore,

the system of records entitled ‘‘Criminal

Investigative Files of the Inspector

General, HHS/OS/OIG’’ (09–90–0003)

last published on November 2, 1990,

and the system of records entitled ‘‘Civil

and Administrative Investigative Files

of the Inspector General, HHS/OS/OIG’’

(09–90–0100) last published on

September 30, 1982, will now describe

both the HHS system of records and the

SSA system of records. The SSA system

of records will simply require minor

conforming changes to system names,

numbers, and managers that are

described below.

At the present time, the SSA/IG will

not be expanding record coverage,

changing routine uses, or affecting an

individual’s ability to access his or her

records in any significant way for these

systems of records.

SYSTEM NAME AND NUMBER: OIG–001—

Criminal Investigative Files of the

Inspector General, SSA/OIG.

(Duplicating existing HHS system of

records 09–90–0003 entitled ‘‘Criminal

Investigative Files of the Inspector

General, HHS/OS/OIG.’’)

SYSTEM MANAGER AND ADDRESS: Office of

Inspector General, Social Security

Administration, 6401 Security

Boulevard, Baltimore, Maryland 21235.

SYSTEM NAME AND NUMBER: OIG–002—

Civil and Administrative Investigative

Files of the Inspector General, SSA/OIG.

(Duplicating existing HHS system of

records 09–90–0100 entitled ‘‘Civil and

Administrative Investigative Files of the

Inspector General, HHS/OS/OIG.’’)

SYSTEM MANAGER AND ADDRESS: Office of

Inspector General, Social Security

Administration, 6401 Security

Boulevard, Baltimore, Maryland 21235.

Dated: April 7, 1995.

June Gibbs Brown,

Inspector General.

[FR Doc. 95–9579 Filed 4–18–95; 8:45 am]

BILLING CODE 4190–29––M

DEPARTMENT OF TRANSPORTATION

Office of the Secretary

[Order 95–4–20]

Reissuance of the Section 41102

Certificate to Village Aviation, Inc.;

d/b/a Camai Air; Order to Show Cause

AGENCY: Department of Transportation.

ACTION: Notice of reissuance of section

41102 certificate.

SUMMARY: The Department of

Transportation is proposing to reissue

the section 41102 certificate of Village

Aviation, Inc. d/b/a Camai Air subject to

conditions.

RESPONSES: All interested persons

wishing to respond to the Department of

Transportation’s tentative reissuance

should file their responses with the

Documentary Services Division, in

Docket 42860, C–55, room PL401,

Department of Transportation, 400

Seventh Street SW., Washington, DC

20590, and serve them on all persons

listed in Attachment A to the order.

Responses shall be filed no later than

April 28, 1995.

FOR FURTHER INFORMATION CONTACT: Mr.

James A. Lawyer, Air Carrier Fitness

Division, Department of Transportation,

400 Seventh Street SW., Washington,

DC 20590, (202) 366–1064.

Dated: April 13, 1995.

Patrick V. Murphy,

Acting Assistant Secretary for Aviation and

International Affairs.

[FR Doc. 95–9605 Filed 4–18–95; 8:45 am]

BILLING CODE 4910–62–P

Federal Aviation Administration

[Summary Notice No. PE–95–18]

Petitions for Exemption; Summary of

Petitions Received; Dispositions of

Petitions Issued

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice of petitions for

exemption received and of dispositions

of prior petitions.

SUMMARY: Pursuant to FAA’s rulemaking

provisions governing the application,

processing, and disposition of petitions

for exemption (14 CFR Part 11), this

notice contains a summary of certain