Document ID: SEC-2005-0199-0001
Agency: sec
Document Type: Notice
Title: Applications, hearings, determinations, etc.: Sunoco, Inc
Posted Date: 2005-11-04T05:00Z

[Federal Register: November 4, 2005 (Volume 70, Number 213)]
[Notices]               
[Page 67204-67205]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04no05-111]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Self-Regulatory Organizations; Notice of Application of Sunoco, 
Inc. To Withdraw Its Common Stock, $1.00 par value, From Listing and 
Registration on the Philadelphia Stock Exchange, Inc. File No. 1-06841

October 31, 2005.
    On October 3, 2005, Sunoco, Inc., a Pennsylvania corporation 
(``Issuer''), filed an application with the Securities and Exchange 
Commission (``Commission''), pursuant to Section 12(d) of the 
Securities Exchange Act of 1934 (``Act''),\1\ and Rule 12d2-2(d) 
thereunder,\2\ to withdraw its common stock, $1.00 par value 
(``Security''), from listing and registration on the Philadelphia Stock 
Exchange, Inc. (``Phlx'' or ``Exchange'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    The Board of Directors (``Board'') of the Issuer approved 
resolutions on September 1, 2005 to withdraw the Security from listing 
on the Exchange. The Issuer stated that the following reasons factored 
into the Board's decision to withdraw the Security from Phlx: (i) The 
Issuer maintains the principal listing for the Security on the New York 
Stock Exchange (``NYSE''); (ii) since the Sarbanes-Oxley Act of 2002, 
new, more stringent corporate governance rules have been adopted by 
various exchanges, including NYSE and Phlx; (iii) maintaining multiple 
listings and compliance with the rules and disclosure requirements of 
both NYSE and Phlx requires administrative time and internal costs; and 
(iv) the benefits of continued listing on Phlx are outweighed by the 
administrative burden and internal cost of such listing.
    The Issuer stated in its application that it has complied with the 
requirements of Phlx Rule 809 governing an issuer's voluntary 
withdrawal of a security from listing and registration by providing the 
required documents for withdrawal from Phlx. The Issuer's application 
relates solely to the withdrawal of the Security from listing on Phlx, 
and shall not affect its continued listing on NYSE or its obligation to 
be registered under Section 12(b) of the Act.\3\
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    \3\ 15 U.S.C. 781(b).
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    Any interested person may, on or before November 21, 2005, comment 
on the facts bearing upon whether the application has been made in 
accordance with the rules of Phlx, and what terms, if any, should be 
imposed by the Commission for the protection of investors. All comment 
letters may be submitted by either of the following methods:

Electronic Comments

     Send an e-mail to rule-comments@sec.gov. Please include 
the File Number 1-06841 or;

Paper Comments

     Send paper comments in triplicate to Jonathan G. Katz, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-9303.
    All submissions should refer to File Number 1-06841. This file 
number should be included on the subject line if e-mail is used. To 
help us process and review your 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/delist.shtml). 

Comments are also available for public inspection and copying in the 
Commission's Public Reference Room. All comments received will be 
posted without change; we do not edit personal identifying information 
from submissions. You should submit only information that you wish to 
make available publicly.
    The Commission, based on the information submitted to it, will 
issue an order granting the application after the date mentioned above, 
unless the Commission determines to order a hearing on the matter.

[[Page 67205]]

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\4\
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    \4\ 17 CFR 200.30-3(a)(1).
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Jonathan G. Katz,
Secretary.
 [FR Doc. E5-6121 Filed 11-3-05; 8:45 am]

BILLING CODE 8010-01-P