Document ID: SEC-2006-0624-0001
Agency: sec
Document Type: Notice
Title: Self-regulatory organizations; proposed rule changes: American Stock Exchange LLC
Posted Date: 2006-05-15T04:00Z

[Federal Register: May 15, 2006 (Volume 71, Number 93)]
[Notices]               
[Page 28057-28058]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15my06-77]                         

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53778; File No. SR-Amex-2005-125]

 
Self-Regulatory Organizations; American Stock Exchange LLC; Order 
Granting Approval of Proposed Rule Change and Amendment No. 1 Thereto 
Relating to Dual Listing

 May 9, 2006.
    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 5, 2005, the American Stock Exchange LLC (``Amex'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') a proposed rule change to amend (i) Sections 140 and 
141 of the Amex Company Guide and the Amex Fee Schedule to reduce the 
listing fees for companies listed on another securities market that 
dual list on the Amex, and (ii) Amex Rule 118 to include in the scope 
of the Rule securities listed on the Nasdaq Capital Market (formerly 
referred to as the Nasdaq SmallCap Market) and to accommodate the dual 
listing of securities listed on the Nasdaq Capital Market and the 
Nasdaq National Market. Additionally, the Amex proposed minor, 
technical changes to Amex Rules 7, 24, 109, 115, 126, 128A, 131, 135A, 
156, 170, 190 and 205, and Sections 142 and 950 of the Company Guide to 
reflect the proposed changes to Amex Rule 118. On March 21, 2006, Amex 
filed Amendment No. 1 to the proposed rule change. The proposed rule 
change, as modified by Amendment No. 1, was published for notice and 
comment in the Federal Register on April 4, 2006.\3\ The Commission 
received no comments on the proposed rule change. This order approves 
the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 53563 (March 29, 2006), 
71 FR 16839.
---------------------------------------------------------------------------

    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 self-regulatory organization.\4\ 
Specifically, the Commission believes that the proposed rule change is 
consistent with Sections 6(b)(4) and (5) of the Act,\5\ in that it is 
designed to provide an equitable allocation of reasonable dues, fees 
and other charges among members and issuers and other persons using the 
Amex's facilities, and to prevent fraudulent and manipulative acts and 
practices, to promote just and equitable principles of trade, to foster 
cooperation and coordination with persons engaged in regulating, 
clearing, settling, processing information with respect to, and 
facilitating transactions in securities, to remove impediments to and 
perfect the mechanism of a free and open market and a national market 
system, and, in general, to protect investors and the public interest. 
The Commission also believes the proposed rule change is not designed 
to permit unfair discrimination between customers, issuers, brokers, or 
dealers, or to regulate by virtue of any authority conferred by the Act 
matters not related to the purpose of the Act or the administration of 
the Amex. The Commission believes that competition among listing 
markets has the potential

[[Page 28058]]

to benefit the public, issuers, and the listing markets.
---------------------------------------------------------------------------

    \4\ In approving the proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition and 
capital formation. See 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

    It is therefore ordered, pursuant to Section 19(b)(2) of the Act, 
that the proposed rule change, as amended (SR-Amex-2005-125), be and 
hereby is approved.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Nancy M. Morris,
Secretary.
 [FR Doc. E6-7324 Filed 5-12-06; 8:45 am]

BILLING CODE 8010-01-P