64894 Federal Register / Vol. 66, No. 241 / Friday, December 14, 2001 / Notices

are also published on the PBGC’s Web

site (http://www.pbgc.gov).

DATES: The required interest rate for

determining the variable-rate premium

under part 4006 applies to premium

payment years beginning in December

2001. The interest assumptions for

performing multiemployer plan

valuations following mass withdrawal

under part 4281 apply to valuation dates

occurring in January 2002.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General

Counsel, Office of the General Counsel,

Pension Benefit Guaranty Corporation,

1200 K Street, NW., Washington, DC

20005, 202–326–4024. (TTY/TDD users

may call the Federal relay service tollfree at 1–800–877–8339 and ask to be

connected to 202–326–4024.)

SUPPLEMENTARY INFORMATION:

Variable-Rate Premiums

Section 4006(a)(3)(E)(iii)(II) of the

Employee Retirement Income Security

Act of 1974 (ERISA) and § 4006.4(b)(1)

of the PBGC’s regulation on Premium

Rates (29 CFR part 4006) prescribe use

of an assumed interest rate (the

‘‘required interest rate’’) in determining

a single-employer plan’s variable-rate

premium. The required interest rate is

the ‘‘applicable percentage’’ (currently

85 percent) of the annual yield on 30-

year Treasury securities for the month

preceding the beginning of the plan year

for which premiums are being paid (the

‘‘premium payment year’’). The yield

figure is reported in Federal Reserve

Statistical Releases G.13 and H.15.

The required interest rate to be used

in determining variable-rate premiums

for premium payment years beginning

in December 2001 is 4.35 percent (i.e.,

85 percent of the 5.12 percent yield

figure for November 2001).

The following table lists the required

interest rates to be used in determining

variable-rate premiums for premium

payment years beginning between

January 2001 and December 2001.

For premium payment years

beginning in:

The required interest rate is:

January 2001 ............................ 4.67

February 2001 .......................... 4.71

March 2001 ............................... 4.63

April 2001 ................................. 4.54

May 2001 .................................. 4.80

June 2001 ................................. 4.91

July 2001 .................................. 4.82

August 2001 ............................. 4.77

September 2001 ....................... 4.66

October 2001 ............................ 4.66

November 2001 ........................ 4.52

December 2001 ........................ 4.35

Multiemployer Plan Valuations

Following Mass Withdrawal

The PBGC’s regulation on Duties of

Plan Sponsor Following Mass

Withdrawal (29 CFR part 4281)

prescribes the use of interest

assumptions under the PBGC’s

regulation on Allocation of Assets in

Single-employer Plans (29 CFR part

4044). The interest assumptions

applicable to valuation dates in January

2002 under part 4044 are contained in

an amendment to part 4044 published

elsewhere in today’s Federal Register.

Tables showing the assumptions

applicable to prior periods are codified

in appendix B to 29 CFR part 4044.

Issued in Washington, DC, on this 11th day

of December 2001.

Steven A. Kandarian,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 01–30964 Filed 12–13–01; 8:45 am]

BILLING CODE 7708–01–P

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Sunshine Act Meeting

FEDERAL REGISTER CITATION OF PREVIOUS

ANNOUNCEMENT: [66 FR 63422, December

6, 2001].

STATUS: Open Meeting.

PLACE: 450 Fifth Street, NW.,

Washington, DC.

DATE AND TIME OF PREVIOUSLY ANNOUNCED

MEETING: Thursday, December 13, 2001

at 10 a.m.

CHANGE IN THE MEETING: Cancellation of

Meeting/Additional Meetings.

The open meeting schedule for

Thursday, December 11, 2001, has been

cancelled, and rescheduled for

Wednesday, December 19, 2001, at 10

a.m., in Room 1C30, the William O.

Douglas Room. In addition to the open

meeting scheduled for Wednesday,

December 19, 2001, the Commission

will hold a closed meeting on Tuesday,

December 18, 2001, at 10 a.m.

Commissioners, Counsel to the

Commissioners, the Secretary to the

Commission, and recording secretaries

will attend the closed meeting. Certain

staff members who have an interest in

the matters may also be present.

The General Counsel of the

Commission, or his designee, has

certified that, in his opinion, one or

more of the exemptions set forth in 5

U.S.C. 552b(2)(5), (7), (9)(A), (9)(B), and

(10) and 17 CFR 200.402(a)(5), (7), 9(i),

9(ii) and (10), permit consideration of

the scheduled matters at the closed

meeting.

The subject matter of the closed

meeting scheduled for Tuesday,

December 18, 2001 will be:

Institution and settlement of

injunctive actions;

Institution and settlement of

administrative proceedings of an

enforcement nature; and

Formal orders of investigation.

The subject matter of the open

meeting scheduled for Wednesday,

December 19, 2001 will be:

1. The Commission will consider the

Nasdaq Stock Market, Inc.’s request that

the Commission interpret section 28(e)

of the Securities Exchange Act of 1934

to apply to riskless principal

transactions in certain securities in light

of recent amendments to Nasdaq’s trade

reporting rules.

For further information, please

contact Catherine McGuire or Joseph

Corcoran, Division of Market

Regulation, at (202) 942–0073).

2. The Commission will consider

whether to extend an order exempting

broker-dealers from the requirement of

Securities Exchange Act of 1934 section

17(e)(1)(B) and rule 17a–5(c) to regularly

send certain financial information to

their customers. To take advantage of

the exemption, a broker-dealer must

send its customers certain net capital

information and must provide its

customers instructions for obtaining the

remainder of its required financial

disclosures on its web site or by dialing

a toll-free number for a paper copy. The

curernt order (Exchange Act Release No.

42222, December 10, 1999) granted the

exemption for two yeaers as a pilot

program ending December 31, 2001.

For further informataion please

contact Thomas K. McGowan, Assistant

Director, Division of Market Regulation,

at (202) 942–4886.

3. The Commission will consider

whether to adopt amendments to the

disclosure requirements under the

Securities Exchange Act of 1934

applicable to annual reports filed on

Forms 10–K and 10–KSB and to proxy

and information statements. The

amendments will enhance disclosure

about equity compensation plans,

including the number of outstanding

options, warrants and rights, as well as

the number of securities remaining

available for future issuance. The

amendments require registrants to

provide information separately for plans

that have not been approved by security

holders.

For further information, please

contact Mark A. Borges, Office of

Rulemaking, Division of Corporation

Finance, at (202) 942–2910.

4. The Commission will consider

whether to adopt an amendment to rule

Federal Register / Vol. 66, No. 241 / Friday, December 14, 2001 / Notices 64895

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

2 17 CFR 240.19b–4.

3Securities Exchange Act Release No. 44962

(October 19, 2001), 66 FR 54562.

4See Letter from W. Hardy Callcott, Senior Vice

President and General Counsel, Charles Schwab &

Co., Inc. to Jonathan G. Katz, Secretary,

Commission, dated November 20, 2001 (‘‘Schwab

Letter’’).

5The Exchange noted that although no other

exchange currently offers a limit order data

compilation, a few markets offer services that

provide a point of reference. According to the

Exchange, the Nasdaq Stock Market charges $50 per

terminal for its Nasdaq Level II service for

professional interrogation devices, which provides

the best bid and offer from all market makers and

ECNs (although it does not otherwise provide

depth-of-book or depth-of-market information). The

Exchange also believes that the London Stock

Exchange charges $144–$219 per terminal for the

price and size of limit orders in stocks that are

included in the FTSE 250 index. Further, the

Exchange believes that the Toronto Stock Exchange

charges $30 per terminal for its order books.

6The ‘‘window’’ requirement does not literally

require a separate window, only separate displays.

In other words, a vendor could format multiple

displays in a single window.

135b under the Securities Act of 1933.

The amendment will clarify that an

Options Disclosure Document prepared

pursuant to rule 0b–1 under the

Securities Exchange Act of 1934 is not

a prospectus and therefore is not subject

to liability under section 12(a)(2) of the

Exchange Act.

For further information, please

contact Ray Be, Office of Rulemaking,

Division of Corporation Finance, at

(202) 942–2910.

5. The Commission will consider

whether to propose an amendment to

rule 146 under the Securities Act of

1933. The proposed amendment

provides a definition of the term

‘‘qualified purchaser’’ for purposes of

section 18(b)(3) of the Securities Act

and thus posits an additional ‘‘covered

security’’ preempting state securities

registration and review.

For further information, please

contact Marva Simpson, Office of Small

Business Policy, Division of Corporation

Finance, at (202) 942–2950.

At times, changes in Commission

priorities require alternations in the

scheduling of meeting items. For further

information and to ascertain what, if

any, matters have been added, deleted

or postponed, please contact: The Office

of the Secretary at (202) 942–7070.

Dated: December 11, 2001.

Jonathan G. Katz,

Secretary.

[FR Doc. 01–30979 Filed 12–12–01; 11:43

am]

BILLING CODE 8010–01–M

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Sunshine Act Meeting

Federal Register Citation of Previous

Announcement: 66 FR 63422, December

6, 2001.

Status: Closed meeting.

Place: 450 Fifth Street, NW.,

Washington, DC

Date and Time of Previously

Announced Meeting: Thursday,

December 13, 2001 at 10:00 a.m.

Change in the Meeting: Time Change.

The closed meeting scheduled for

Thursday, December 13, 2001 at 10 a.m.

has been changed to Friday, December

14, 2001 at 10 a.m.

Dated: December 12, 2001.

Jonathan G. Katz,

Secretary.

[FR Doc. 01–31031 Filed 12–12–01; 4:02 pm]

BILLING CODE 8010–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–44138; File No. SR–NYSE–

2001–42]

Self-Regulatory Organizations; Order

Approving a Proposed Rule Change by

the New York Stock Exchange, Inc.,

Establishing the Fees for NYSE

OpenBookTM

December 7, 2001.

On October 15, 2001, the New York

Stock Exchange, Inc. (‘‘NYSE’’ or

‘‘Exchange’’) filed with 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

establishing the fees for its NYSE

OpenBook service. The proposed rule

change was published for comment in

the Federal Register on October 29,

2001.3 The Commission received one

comment letter on the proposed rule

change.4 This order approves the

proposed rule change.

I. Description of the Proposed Rule

Change

A. Proposed Fees for NYSE OpenBook

Service

The Exchange proposes to establish

certain fees for its NYSE OpenBook

service. NYSE OpenBook is a

compilation of limit order data that the

Exchange will provide to market data

vendors, broker-dealers, private network

providers, and other entities through a

data feed. According to the Exchange,

for every limit price, NYSE OpenBook

will include the aggregate order volume.

The Exchange will make the NYSE

OpenBook data feed available through

the Exchange’s Common Access Point

(‘‘CAP’’) network. Initially, the

Exchange will update NYSE OpenBook

every ten seconds.

The Exchange has proposed two fees.

First, the Exchange proposes to collect

a fee equal to $5,000 per month from

each entity that elects to receive the

NYSE OpenBook data feed. Second, the

Exchange proposes to collect an enduser fee of $50.00 5 per month for each

terminal through which the end user is

able to display the NYSE OpenBook.

B. NYSE OpenBook Service Agreements

The Exchange will require each NYSE

OpenBook data feed recipient to enter

into the existing form of ‘‘vendor’’

agreement. That agreement will

authorize the data feed recipient to

provide NYSE OpenBook display

services to its customers or to distribute

the data internally. In addition, the

Exchange represents that it will require

each end-user that receives NYSE

OpenBook displays from a vendor or

broker-dealer to execute the existing

‘‘subscriber’’ agreement.

The Exchange intends to supplement

the vendor agreements with additional

terms that are unique to NYSE

OpenBook. First, the vendor agreements

prohibit a data feed recipient that

redisseminates the NYSE OpenBook

outside of its organization from

enhancing, integrating, or consolidating

the redisseminated NYSE OpenBook

data with limit order data of other

markets or trading systems (i.e., the data

feed recipient may only redisseminate

the display of the NYSE’s OpenBook in

a separate ‘‘window’’ 6 marked ‘‘NYSE

OpenBookTM’’). A vendor, however,

may place other markets’ limit order

displays on the same page as the NYSE

OpenBook window. This restriction

only applies to vendors that

redisseminate the NYSE OpenBook

outside of their organization. It does not

apply to those entities that receive the

data feed for their own internal use. In

other words, data feed recipients will be

permitted to enhance, integrate, or

consolidate the NYSE OpenBook data

with other markets’ or trading systems’

limit order data for their own internal

use.

Second, the vendor agreement

precludes a data feed recipient from

retransmitting the NYSE OpenBook data

feed. Thus, any entity that wishes to

receive the data feed so that it may

enhance, integrate, or consolidate the

data with other markets’ data for its own

internal use must obtain the data feed

from the NYSE. The Exchange, however,