Federal Register: July 18, 2001 (Volume 66, Number 138)
DOCID: FR Doc 01-17929
SECURITIES AND EXCHANGE COMMISSION
Securities and Exchange Commission
DOCUMENT ID: [Release No. 34-44544; File No. SR-ISE-2001-04]
NOTICE: NOTICES
ACTION: Self-regulatory organizations; proposed rule changes:
SUBJECT CATEGORY:
Self Regulatory Organizations; International Securities Exchange LLC; Order Granting Approval to Proposed Rule Change Relating To Its Disciplinary Procedures
DOCUMENT SUMMARY:
July 12, 2001.
On February 6, 2001, the International Securities Exchange LLC
(``ISE'') 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 19b4 thereunder,\2\ a proposed rule change to make certain changes to its
[[Page 37509]]
disciplinary rule and procedures. These changes are intended to reflect
and facilitate the ``hybrid'' regulatory scheme resulting from the
ISE's regulatory services agreement with NASD Regulation, Inc.
(``NASDR'') pursuant to which, among other things, NASDR provides
services related to conducting regulatory investigations and disciplinary actions.
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
The proposed rule change was published for comment in the Federal
Register on May 29, 2001.\3\ The Commission received no comments on the proposal.
\3\ See Securities Exchange Act Release No. 44327 (May 18, 2001), 66 FR 29188.
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 national securities exchange \4\ and, in
particular, the requirements of Section 6 of the Act \5\ and the rules
and regulations thereunder. The Commission finds specifically that the
proposed rule change is consistent with Sections 6(b)(6) and 6(b)(7) of
the Act, respectively,\6\ in that the proposed rule change satisfies
the requirements that an Exchange's rule: (1) Provide that its members
and persons associated with its members shall be appropriately
disciplined for violation of the Exchange Act, the rules and
regulations thereunder, or the rules of the exchange; and (2) provides
a fair procedure for the disciplinary of members and persons associated with members.
\4\ In approving this proposed rule change, the Commission notes
that it has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
\5\ 15 U.S.C. 78f.
\6\ 15 U.S.C. 78f(b)(6)(7).
It is therefore ordered, pursuant to Section 19(b)(2) of the Act,\7\ that the proposed rule change (File No. SRISE200104) be, and it hereby is, approved.
\7\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Market Regulation, pursuant to delegated authority.\8\
\8\ 17 CFR 200.303(a)(12).
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 0117929 Filed 71701; 8:45 am]
BILLING CODE 801001M
SUMMARY:
International Securities Exchange LLC,
DOCUMENT BODY 2:
July 12, 2001.
On February 6, 2001, the International Securities Exchange LLC
(``ISE'') 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 19b4 thereunder,\2\ a proposed rule change to make certain changes to its
[[Page 37509]]
disciplinary rule and procedures. These changes are intended to reflect
and facilitate the ``hybrid'' regulatory scheme resulting from the
ISE's regulatory services agreement with NASD Regulation, Inc.
(``NASDR'') pursuant to which, among other things, NASDR provides
services related to conducting regulatory investigations and disciplinary actions.
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
The proposed rule change was published for comment in the Federal
Register on May 29, 2001.\3\ The Commission received no comments on the proposal.
\3\ See Securities Exchange Act Release No. 44327 (May 18, 2001), 66 FR 29188.
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 national securities exchange \4\ and, in
particular, the requirements of Section 6 of the Act \5\ and the rules
and regulations thereunder. The Commission finds specifically that the
proposed rule change is consistent with Sections 6(b)(6) and 6(b)(7) of
the Act, respectively,\6\ in that the proposed rule change satisfies
the requirements that an Exchange's rule: (1) Provide that its members
and persons associated with its members shall be appropriately
disciplined for violation of the Exchange Act, the rules and
regulations thereunder, or the rules of the exchange; and (2) provides
a fair procedure for the disciplinary of members and persons associated with members.
\4\ In approving this proposed rule change, the Commission notes
that it has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
\5\ 15 U.S.C. 78f.
\6\ 15 U.S.C. 78f(b)(6)(7).
It is therefore ordered, pursuant to Section 19(b)(2) of the Act,\7\ that the proposed rule change (File No. SRISE200104) be, and it hereby is, approved.
\7\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Market Regulation, pursuant to delegated authority.\8\
\8\ 17 CFR 200.303(a)(12).
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 0117929 Filed 71701; 8:45 am]
BILLING CODE 801001M