Summary of Application: Applicants request an order to permit certain registered openend management investment companies relying on section 12(d)(1)(F) of the Act to charge a sales load in excess of 1\1/ 2\ percent.

Applicants: Integrity Money Management, Inc. (the ``Adviser''), Integrity Funds Distributor, Inc. (the ``Distributor''), and The Integrity Funds on behalf of itself and certain series thereof, and future registered openend management investment companies and series thereof advised by the Adviser or an entity controlling, controlled by, or under common control with the Adviser or for which the Distributor or any entity controlling, controlled by, or under common control with the Distributor serves as principal underwriter (the ``Funds'').

Filing Dates: The application was filed on March 17, 2005 and amended on December 2, 2005.

Hearing or Notification of Hearing: An order granting the application will be issued unless the Commission orders a hearing. Interested persons ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7302 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7339 \1\ PADCO Advisors, Inc., et al., Investment Company Act Rel. Nos. 24678 (Oct. 5, 2000) (notice) and 24722 (Oct. 31, 2000) (order) (``Original Order'').
\2\ Rydex ETF Trust, et al., Investment Company Act Rel. Nos. 25948 (Feb. 27, 2003) (notice) and 25970 (Mar. 25, 2003) (order) (``ETF Order'').
Applicants: Rydex ETF Trust, Rydex Series Funds, Rydex Dynamic Funds, PADCO Advisors, Inc. (``PADCO'') and PADCO Advisors II, Inc. (``PADCO II'').
Filing Dates: The application was filed on February 28, 2003, and amended on February 19, 2004, June 4, 2004 and Septem ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7339 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7329

I. Introduction and Description

On December 2, 2005, the Pacific Exchange, Inc. (``PCX'') on behalf of itself and the National Association of Securities Dealers, Inc. (``NASD''), the American Stock Exchange LLC (``Amex''), the Boston Stock Exchange, Inc. (``BSE''), the Chicago Stock Exchange, Inc. (``CHX''), the National Stock Exchange, Inc. (``NSX''), and the Philadelphia Stock Exchange, Inc. (``Phlx'') (hereinafter referred to collectively as ``Participants''),\1\ as members of the operating committee (``Operating Committee'' or ``Committee'') of the Plan submitted to the Securities and Exchange Commission (``Commission'') a request to extend the operation of the Plan and also to extend certain exemptive relief as described below.\2\ The Nasdaq UTP Plan governs the collection, processing, and dissemination on a consolidated basis of quotation and last sale information for each of its Participants. This consolidated information informs investors of the current quotation an ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7329 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7301

On October 21, 2005, the Options Price Reporting Authority (``OPRA'') submitted to the Securities and Exchange Commission (``Commission''), pursuant to Section 11A of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 608 thereunder,\2\ an amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information (``OPRA Plan'').\3\ The proposed OPRA Plan amendment would provide that classes of Foreign Currency Options (``FCO Securities'' or ``FCO''), newly introduced for trading on the Phlx during a temporary period ending no later than December 31, 2007, will be treated by OPRA as Equity/Index Options (``EIO Securities'' or ``EIO'') to the extent described in the proposed amendment. Notice of the proposal was published in the Federal Register on November 7, 2005.\4\ The Commission received no comment letters on the proposed OPRA Plan amendment. This order approves the proposal.
\1\ 15 U.S.C. 78k1.
\2\ 17 CFR 242.608.
\3\ Th ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7301 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7304

On October 31, 2005, the Options Price Reporting Authority (``OPRA'') submitted to the Securities and Exchange Commission (``Commission''), pursuant to section 11A of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 608 thereunder,\2\ an amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information (``OPRA Plan'').\3\ The proposed amendment would amend Guideline No. 1 of the Best Bid and Offer Guidelines (``BBO Guidelines'') previously adopted by OPRA under section II (o) of the OPRA Plan and make a minor editorial correction to the introductory paragraph of the BBO Guidelines. Notice of the proposal was published in the Federal Register on November 7, 2005.\4\ The Commission received no comment letters on the proposed OPRA Plan amendment. This order approves the proposal.
\1\ 15 U.S.C. 78k1.
\2\ 17 CFR 242.608.
\3\ The OPRA Plan is a national market system plan approved by the Commission pursuant to Section 11 ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7304 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7296

Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on September 13, 2005, the American Stock Exchange LLC (``Amex'' or the ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II and III below, which Items have been prepared by the Exchange. On November 22, 2005, Amex filed Amendment No. 1 to the proposed rule change.\3\ The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons and approving the proposal on an accelerated basis. \1\ 15 U.S.C 78s(b)(1).
\2\ 17 CFR 240.19b4.
\3\ In Amendment No. 1, the Exchange clarified and supplemented certain aspects of its proposal. Amendment No. 1 supplements the information provided in various sections, as indicated, of the Exchange's Form 19b4.
I. SelfRegulatory Organization's Stateme ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7296 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7307

Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b4 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'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. Amex has designated this proposal as one establishing or changing a due, fee, or other charge imposed by a selfregulatory organization pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b4(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.
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b4(f)(2).
I. SelfRegulatory Organization's Statement of the Terms of Substance ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7307 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7337

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 16, 2005, the Pacific Exchange, Inc. (``CBOE'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the CBOE. CBOE has designated the proposed rule change as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the self regulatory organization pursuant to Section 19(b)(3)(A)(i) of the Act \3\ and Rule 19b4(f)(1) 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.
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
\3\ 15 U.S.C. 78s(b)(3)(A)(i).
]]> http://thefederalregister.com/d.p/2005-12-14-E5-7337 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7338

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 15, 2005, the Pacific Exchange, Inc. (``CBOE'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by CBOE. CBOE has designated the proposed rule change as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the self regulatory organization pursuant to Section 19(b)(3)(A)(i) of the Act \3\ and Rule 19b4(f)(1) 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.
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
\3\ 15 U.S.C. 78s(b)(3)(A)(i).
\4\ ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7338 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7305

I. Introduction

On October 4, 2005, The Depository Trust Company (``DTC''), the Fixed Income Clearing Corporation (``FICC''), and the National Securities Clearing Corporation filed with the Securities and Exchange Commission (``Commission'') proposed rule changes SRDTC200516, SR FICC200519, and SRNSCC200514 pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'').\1\ Notices of the proposals were published in the Federal Register on October 31, 2005.\2\ The Commission received one comment letter in response to the proposed rule change filed by DTC \3\ and one comment letter in response to the proposed rule change filed by FICC.\4\ For the reasons discussed below, the Commission is approving the proposed rule change.
\1\ 15 U.S.C. 78s(b)(1).
\2\ Securities Exchange Act Release Nos. 52665 (October 25, 2005), 70 FR 62357 [SRDTC200516]; 52663 (October 25, 2005), 70 FR 62359 [SRFICC200519]; and 52664 (October 25, 2005), 70 FR 62364 [SRNSCC200514].
]]> http://thefederalregister.com/d.p/2005-12-14-E5-7305 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7303

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 21, 2005, the International Securities Exchange, Inc. (``ISE'' or ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the ISE.\3\ The ISE filed
[[Page 74072]]
the proposal pursuant to Section 19(b)(3)(A) of the Act,\4\ and Rule 19b4(f)(6) thereunder,\5\ which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons.
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
\3\ In one part of the proposal, ISE Rule 504(d)(6) is erroneously referenced, instead of current ISE Rule 503(b)(6). The staff corrected this reference, as per telephone conversation between Samir Pate ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7303 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7333

On September 29, 2005, the National Association of Securities Dealers, Inc. (``NASD''), through its subsidiary, The Nasdaq Stock Market, Inc. (``Nasdaq''), 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 modify NASD Rule 4350(k), regarding the oversight of accountants that audit listed issuers.\3\ The proposed rule change was published for comment in the Federal Register on October 26, 2005.\4\ The Commission received no comments on the proposal. This order approves the proposed rule change. \1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
\3\ The proposed rule change would also make a conforming amendment to the language of NASD Rule 4200(a).
\4\ Securities Exchange Act Release No. 52645 (Oct. 20, 2005), 70 FR 61864.

Current NASD Rule 4350(k) requires each issuer listed on Nasdaq to be audited by an ind ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7333 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7327

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 30, 2005, the New York Stock Exchange, Inc. (``NYSE'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Exchange has designated the proposed rule change as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the selfregulatory organization pursuant to Section 19(b)(3)(A)(i) of the Act \3\ and Rule 19b4(f)(1) thereunder,\4\ which renders the proposal effective upon filing with the
[[Page 74075]]
Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. \1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
\ ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7327 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7325

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 17, 2005, the Pacific Exchange, Inc. (``PCX'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by PCX. On November 22, 2005, PCX filed Amendment No. 1 to the proposed rule change. PCX has designated the proposed rule change as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the self regulatory organization pursuant to Section 19(b)(3)(A)(i) of the Act \3\ and Rule 19b4(f)(1) 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, as amended, from interested persons.
\1\ ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7325 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7328

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 23, 2005, the Pacific Exchange, Inc. (``PCX'' or ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the selfregulatory organization. On December 7, 2005, PCX filed Amendment No. 1 to the proposed rule change.\3\ PCX filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act,\4\ and Rule 19b4(f)(6) thereunder,\5\ which renders the proposal, as amended, effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons.
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
\3\ See Form 19b4 dated December 7, 2005 which replaced the original filing in its entirety (``Amendment No. 1'') ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7328 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7330

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 3, 2005, the Pacific Exchange, Inc. (``PCX'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by PCX. On November 22, 2005, PCX filed Amendment No. 1 to the proposed rule change. PCX has designated the proposed rule change as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the self regulatory organization pursuant to Section 19(b)(3)(A)(i) of the Act \3\ and Rule 19b4(f)(1) 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, as amended, from interested persons.
\1\ 1 ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7330 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7299

Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 3, 2005, 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 prepared by the Exchange. On November 22, 2005, the Phlx submitted Amendment No. 1 to the proposed rule change.\3\ The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons.
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b4.
\3\ Amendment No. 1 provided clarifying language to Phlx Rule 760 and the purpose section of the filing.
I. SelfRegulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change

The Phlx proposes to amend Phlx Rule 760, Maintenance, Retention and Furnishing of Books, Records an ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7299 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7306

Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 16, 2005, the Philadelphia Stock Exchange, Inc. (``Phlx'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Phlx. On November 29, 2005, Phlx filed Amendment No. 1 to the proposed rule change. Phlx has designated the proposed rule change as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the self regulatory organization pursuant to section 19(b)(3)(A)(i) of the Act \3\ and Rule 19b4(f)(1) 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, as amended, from intereste ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7306 Wed, Dec 14 2005 11:00:00 GMT http://thefederalregister.com/d.p/2005-12-14-E5-7326

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 9, 2005, the Philadelphia Stock Exchange, Inc. (``Phlx'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by Phlx. On November 28, 2005, Phlx filed Amendment No. 1 to the proposed rule change. Phlx has designated the proposed rule change as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the self regulatory organization pursuant to Section 19(b)(3)(A)(i) of the Act \3\ and Rule 19b4(f)(1) 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, as amended, from interested per ]]> http://thefederalregister.com/d.p/2005-12-14-E5-7326 Wed, Dec 14 2005 11:00:00 GMT