Document ID: SEC-2007-1440-0001
Agency: sec
Document Type: Notice
Title: Self-regulatory organizations; proposed rule changes: Philadelphia Stock Exchange, Inc.
Posted Date: 2007-10-16T04:00Z

[Federal Register: October 16, 2007 (Volume 72, Number 199)]
[Notices]               
[Page 58710-58711]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr16oc07-125]                         

[[Page 58710]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56622; File No. SR-Phlx-2007-77]

 
Self-Regulatory Organizations; The Philadelphia Stock Exchange, 
Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change Relating to Web CRD Fingerprinting Fees

October 5, 2007.
    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on October 1, 2007, 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 substantially 
prepared by the Phlx. The Phlx has designated this proposal as one 
establishing or changing a due, fee, or other charge applicable only to 
a member under section 19(b)(3)(A)(ii) of the Act,\3\ and Rule 19b-
4(f)(2) thereunder,\4\ which renders the proposal effective upon filing 
with the Commission. The Commission is publishing this notice to 
solicit comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Phlx proposes to amend its fingerprinting fees, which appear on 
Appendix A of its fee schedule, so that the charge for the first and 
third submission of a fingerprint card will be lowered from $35.00 to 
$30.25. The Exchange also proposes to replace references to ``NASD'' on 
the Exchange's fee schedules with references to ``FINRA.''
    The text of the proposed rule change is available at the Exchange, 
the Commission's Public Reference Room, and at http://www.phlx.com.

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 Phlx 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 Phlx 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's fee schedule includes fees that are 
imposed in connection with participation in the National Association of 
Securities Dealers, Inc. (``NASD,'' n/k/a/ the Financial Industry 
Regulatory Authority, Inc., ``FINRA'') Web Central Registration 
Depository (``Web CRD''). The fingerprinting fees are paid directly to 
FINRA and vary depending on the submission: for a first card 
submission, the fee is $35.00; for a second card submission, the fee is 
$13.00; and for a third card submission, the fee is $35.00. For 
processing fingerprint results for a member who had prints processed 
through a self-regulatory organization and not FINRA, the fee is 
$13.00.
    FINRA intends to amend the fingerprinting fees effective for 
fingerprints processed on or after October 1, 2007, so that the charge 
for the first and third submission of a fingerprint card will be 
lowered from $35.00 to $30.25.\5\ The fees for processing a second 
fingerprint card submission and for processing fingerprint cards where 
the member had prints processed through a self-regulatory organization 
and not FINRA will remain at $13.00.
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    \5\ See FINRA Information Notice titled ``Fingerprint Processing 
Fees'' dated September 20, 2007.
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    Therefore, the Exchange proposes to amend its fee schedule to 
reflect the lower Web CRD fingerprinting fees charged by FINRA. The 
Exchange also proposes to update its fee schedule to replace references 
to the NASD with references to FINRA.
2. Statutory Basis
    The Exchange believes that its proposal to amend its schedule of 
fees is consistent with section 6(b) of the Act \6\ in general, and 
furthers the objectives of section 6(b)(4) of the Act \7\ in 
particular. The Exchange believes that it is an equitable allocation of 
reasonable fees and other charges among Exchange members because it 
will reflect FINRA's reduction for the first and third submission of a 
fingerprint card from $35.00 to $30.25.
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    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act.

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 has become effective pursuant to section 
19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(2) \9\ thereunder because 
it establishes or changes a due, fee, or other charge applicable only 
to a member. 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.
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    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(2).
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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. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml.
); or     Send an e-mail to rule-comments@sec.gov. Please include 

File No. SR-Phlx-2007-77 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, Station Place, 100 F 
Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-Phlx-2007-77. This file 
number should be included on the subject line if e-mail is used. To 
help the Commission process and review your

[[Page 58711]]

comments more efficiently, please use only one method. The Commission 
will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml
). 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 Room, 100 F Street, NE., Washington, DC 20549, on official 
business days between the hours of 10 a.m. and 3 p.m. Copies of such 
filing also will be available for inspection and copying at the 
principal office of the Phlx. All comments received will be posted 
without change; the Commission does not edit personal identifying 
information from submissions. You should submit only information that 
you wish to make available publicly. All submissions should refer to 
File Number SR-Phlx-2007-77 and should be submitted on or before 
November 6, 2007.
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    \10\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\10\
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-20329 Filed 10-15-07; 8:45 am]

BILLING CODE 8011-01-P