67614 Federal Register / Vol. 66, No. 250 / Monday, December 31, 2001 / Notices

34See Amendment Nos. 2 and 3, supra notes 4

and 5. 35See Amendment Nos. 2 and 3, supra notes 4

and 5. 36See Amendment Nos. 2 and 3, supra notes 4

and 5. 37See Amex Order, supra notes 24.

38 15 U.S.C. 78f(b)(5) and 78s(b)(2).

39 17 CFR 200.30–3(a)(12).

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

2 17 CFR 240.19b–4.

3For purposes of the equity option transaction

charge, the Exchange defines the term ‘‘brokerdealer charge’’ as a charge that is applied to

members for orders, entered from other than the

floor of the Exchange, for any account (i) in which

the holder of beneficial interest is a member or nonmember broker-dealer or (ii) in which the holder of

beneficial interest is a person associated with or

employed by a member or non-member brokerdealer. This includes orders for the account of a

Registered Options Trader (‘‘ROT’’) entered from

off-floor. See Securities Exchange Act Release No.

43558 (November 14, 2000), 65 FR 69984

(November 21, 2000) (SR–Phlx–00–85).

4The Exchange states that this fee will continue

to be eligible for the monthly credit of up to $1,000

to be applied against certain fees, dues and charges

and other amounts owed to the Exchange by certain

members. See Securities Exchange Act Release No.

44292 (May 11, 2001), 66 FR 27715 (May 18, 2001)

(SR–Phlx–2001–49).

5According to the Exchange, a firm/proprietary

transaction or comparison charge applies to

members for orders for the proprietary account of

any member or non-member broker-dealer that

derives more than 35 percent of its annual, gross

revenues from commissions and principal

transactions with customers. See Securities

Exchange Release No. 43558 (November 14, 2000),

65 FR 69984 (November 21, 2000) (SR–Phlx–00–

85).

unique characteristics and risks of this

type of security.34 The circular also will

note the PHLX members’ prospectus or

product description delivery

requirements, and highlight the

characteristics of purchases in a

particular series of Trust Shares.35 The

circular also will inform members of

their responsibility under PHLX Rules

746 and 747 in connection with

customer transactions in Trust Shares.36

The Commission believes that these

requirements will help to ensure

adequate disclosure to investors about

the terms and characteristics of a

particular series of Trust Shares.

The Commission finds good cause for

approving the proposed rule change and

Amendment Nos. 1, 2, and 3 prior to the

thirtieth day after the date of

publication of notice of filing thereof in

the Federal Register. The Commission

notes that the proposed rule change is

based on the generic listing standards in

Amex Rule 1000 et seq., which the

Commission approved after soliciting

public comment pursuant to Section

19(b)(1) of the Act.37 The Commission

does not believe that the PHLX’s

proposal raises novel regulatory issues

that were not addressed previously.

Accordingly, the Commission believes it

is appropriate to permit investors to

benefit from the flexibility afforded by

these new instruments by trading them

as soon as possible. Amendment No. 1

strengthens the PHLX’s proposal by

indicating that the PHLX will file a

proposed rule change pursuant to rule

19b–4 if the PHLX proposes to list and

trade a series of Trust Shares that do not

satisfy the proposed generic criteria.

Amendment No. 2 strengthens the

PHLX’s proposal by clarifying, among

other things, that the PHLX will

distribute an information circular to

members for each series of Trust Shares

describing the characteristics and risks

of Trust Shares and by indicating that

Trust Shares will be subject to PHLX

rules governing the trading of equity

securities, including, among others,

rules and procedures governing trading

halts, responsibilities of specialists,

account opening requirements, and

margin. Amendment No. 3 clarifies the

text of PHLX Rule 803(i)(11) and

indicates that the PHLX will use its

existing surveillance procedures for

Trust Shares to monitor trading in Trust

Shares traded pursuant to Rule 19b–

4(e). Accordingly, the Commission

believes that there is good cause,

consistent with Sections 6(b)(5) and

19(b)(2) of the Act,38 to approve the

proposal and Amendment Nos. 1, 2, and

3 to the proposal on an accelerated

basis.

It is therefore ordered, pursuant to

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

proposed rule change (SR–PHLX–00–

68), as amended, is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.39

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–32032 Filed 12–28–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–45185; File No. SR–Phlx–

2001–113]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the

Philadelphia Stock Exchange, Inc.

Increasing the Equity Option

Transaction Charge for Broker-Dealer

December 21, 2001.

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 December

18, 2001, the Philadelphia Stock

Exchange, Inc. (‘‘Phlx’’ 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 Exchange.

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 Exchange proposed to amend its

schedule of dues, fees, and charges to

increase its equity option transaction

charge on members for off-floor brokerdealer orders3 routed to the Exchange

from $0.20 to $0.25. The Exchange

intends to implement this fee on

transactions settling on or after January

2, 2002.4

The text of the proposed rule change

is available at the Office of the

Secretary, the Phlx, and at the

Commission.

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

Exchange 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

Exchange 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

Currently, the Exchange imposes a fee

on its members for off-floor brokerdealer orders routed to the Exchange.

This category includes ROTs that trade

from off-floor and broker-dealers that

route orders through firm, customer, or

market maker accounts carried by a

member clearing firm. This category

does not include firm/proprietary

orders.5 The Exchange states that all

other equity option transaction charges

will remain unchanged.

The Exchange states that the purpose

of the proposed rule change is to

generate additional revenue by

increasing the fee imposed on members

for off-floor broker-dealer orders routed

to the Exchange. Thus, the broker-dealer

Federal Register / Vol. 66, No. 250 / Monday, December 31, 2001 / Notices 67615

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

7 15 U.S.C. 78f(b)(4).

8 15 U.S.C. 78(s)(b)(3)(A)(ii).

9 17 CFR 240.19b–4(f)(2). 10 17 CFR 200.30–3(a)(12).

option transaction charge will be

increased from $0.20 to $0.25.

(2) Statutory Basis

The exchange believes that the

proposed rule change is consistent with

section 6(b) of the Act,6 in general, and

furthers the objectives of section

6(b)(4),7 in particular, in that it provides

for the equitable allocation of reasonable

dues, fees, and other charges among its

members. The Exchange believes the

proposal is equitable and reasonable

because the proposed broker-dealer

equity option transaction charge is not

substantially higher than other fees.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange 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

The foregoing rule change establishes

or changes a due, fee, or charge imposed

by the Exchange and, therefore has

become effective upon filing pursuant to

rule 19(b)(3)(A)(ii) of the Act 8 and rule

19b–4(f)(2) hereunder.9 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 purpose of the Act.

The Exchange has stated that it intends

to implement this fee on transactions

settling on or after January 2, 2002.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing,

including whether the proposed rule

change is consistent with the Act.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, NW.,

Washington, DC 20549–0609. 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 in

the Commission’s Public Reference

Section. 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–Phlx–2001–113 and should be

submitted by January 22, 2002.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.10

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–32081 Filed 12–28–01; 8:45 am]

BILLING CODE 8010–01–M

SOCIAL SECURITY ADMINISTRATION

Agency Information Collection

Activities: Proposed Request and

Comment Request

The Social Security Administration

(SSA) publishes a list of information

collection packages that will require

clearance by the Office of Management

and Budget (OMB) in compliance with

Pub. L. 104–13 effective October 1,

1995, The Paperwork Reduction Act of

1995. SSA is soliciting comments on the

accuracy of the agency’s burden

estimate; the need for the information;

its practical utility; ways to enhance its

quality, utility and clarity; and on ways

to minimize burden on respondents,

including the use of automated

collection techniques or other forms of

information technology.

Written comments and

recommendations regarding the

information collection(s) should be

submitted to the OMB Desk Officer and

the SSA Reports Clearance Officer and

at the following addresses:

(OMB)

Office of Management and Budget, Attn:

Desk Officer for SSA, New Executive

Office Building, Room 10230, 725

17th St., NW, Washington, DC 20503

(SSA)

Social Security Administration,

DCFAM, Attn: Reports Clearance

Officer, 1A–21 Operations Bldg., 6401

Security Blvd., Baltimore, MD 21235

I. The information collections listed

below will be submitted to OMB within

60 days from the date of this notice.

Therefore, your comments should be

submitted to SSA within 60 days from

the date of this publication. You can

obtain copies of the collection

instruments by calling the SSA Reports

Clearance Officer at 410–965–4145, or

by writing to him at the address listed

above.

1. Authorization To Obtain Earnings

Data For The Social Security

Administration–0960–0602. The

information requested on Form SSA–

581 is necessary only for identification

of the earnings record, verification of

the signature authorizing access to the

earnings record and for disposition of

the response. The respondents are

individuals and various private/public

organizations/agencies that need

detailed earnings information.

Number of Respondents: 60,000.

Frequency of Response: 1.

Average Burden Per Response: 2

minutes.

Estimated Annual Burden: 2,000

hours.

2. Statement Regarding

Contributions–0960–0020. Form SSA–

783 is used to make a determination and

obtain information about the source of

support for a child applicant who must

meet a dependency requirement for

entitlement to benefits. The respondents

are persons giving information about

child’s sources of support for

entitlement to child’s benefits.

Number of Respondents: 30,000.

Frequency of Response: 1.

Average Burden Per Response: 17

minutes.

Estimated Annual Burden: 8,500

hours.

3. Credit Card Payment

Acknowledgement Form—0960–NEW.

SSA will use the information collected

on Form SSA–324 to process payments

from separating and former employees

who have outstanding debts owed to the

agency. This form has been developed

as a convenient method for respondents

to satisfy such debts. The respondents

are former employees who have debts

still owed to the agency.

Number of Respondents: 6,000.

Frequency of Response: 1.

Average Burden Per Response: 5

minutes.

Estimated Annual Burden: 500 hours.

4. Online Authentication Information

Collection Form—TEST—0960–NEW.

Background

The Government Paperwork

Elimination Act (GPEA) of 1998

directed federal agencies to develop

electronic service delivery instruments