Document ID: SEC-2007-1576-0001
Agency: sec
Document Type: Notice
Title: Self-regulatory organizations; proposed rule changes: American Stock Exchange LLC
Posted Date: 2007-11-23T05:00Z

[Federal Register: November 23, 2007 (Volume 72, Number 225)]
[Notices]               
[Page 65773]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23no07-110]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56787; File No. SR-Amex-2007-108]

 
 Self-Regulatory Organizations; American Stock Exchange LLC; 
Order Approving a Proposed Rule Change To Increase the Annual Listing 
Fees for Certain Stock Issues of Listed Companies

November 15, 2007.
    On October 3, 2007, the American Stock Exchange LLC (``Amex'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``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 to amend Section 141 of the Amex Company Guide to 
increase the annual listing fees for certain stock issues of listed 
companies. The proposed rule change was published for comment in the 
Federal Register on October 16, 2007.\3\ The Commission received no 
comment letters on the proposal. This order approves the proposed rule 
change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 56636 (October 10, 
2007), 72 FR 58691.
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    Amex proposes to amend Section 141 of the Amex Company Guide to 
raise the annual listing fee, for any stock issue of 50 million shares 
or less, to $27,500 per year. Currently, for such issues, Amex charges 
between $16,500 and $24,500 per year, depending on the number of shares 
outstanding.
    After careful review, the Commission finds that Amex's proposal is 
consistent with the requirements of the Act and the rules and 
regulations thereunder applicable to a national securities exchange.\4\ 
In particular, the Commission finds that the proposal is consistent 
with Section 6(b)(4) of the Act,\5\ which requires, among other things, 
that the rules of the Exchange provide for the equitable allocation of 
reasonable dues, fees, and other charges among members and issuers and 
other persons using the Exchange's facilities. The Commission notes 
that no comments were received on the proposed fee increase, which is 
comparable to the annual listing fee imposed by another exchange that 
has been approved by the Commission.\6\
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    \4\ In approving this proposal, 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).
    \6\ See Securities Exchange Act Release No. 55202 (January 30, 
2007), 72 FR 6017 (February 8, 2007) (SR-NASDAQ-2006-040) (approving 
$27,500 annual fee on Nasdaq Capital Market issuers for any amount 
of shares outstanding).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\7\ that the proposed rule change (SR-Amex-2007-108), be, and 
hereby is, approved.
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    \7\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-22777 Filed 11-21-07; 8:45 am]

BILLING CODE 8011-01-P