The Federal Register

Amendments to the Tender Offer Best-Price Rule

Thu, Dec 22 2005 11:00:00 GMT

We are proposing amendments to the tender offer best-price rule to clarify that the rule applies only with respect to the consideration offered and paid for securities tendered in an issuer or thirdparty tender offer and should not apply to consideration offered and paid according to employment compensation, severance or other employee benefit arrangements entered into with employees or directors of the subject company. The proposed rule also would provide a safe harbor in the context of thirdparty tender offers that would allow the compensation committee or a committee performing similar functions of the subject company's or bidder's board of directors, depending on whether the subject company or the bidder is the party to the arrangement, to approve an employment compensation, severance or other employee benefit arrangement and thereby deem it to be such an arrangement within the meaning of the proposed exemption.

Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Order Granting Accelerated

Thu, Dec 22 2005 11:00:00 GMT

December 16, 2005.

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 13, 2005, the Municipal Securities Rulemaking Board (``MSRB'' or ``Board'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the MSRB. 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.
I. SelfRegulatory Organization's Statement Of The Terms Of Substance Of The Proposed Rule Change

The MSRB is filing with the Commission a proposed rule change to paragraph (a)(ii)(C) of Rule G14 RTRS Procedures under Rule G14 Reports of Sales or Purchases, to extend the expiration date of the three hour exception to the 15 minute reporting deadline. The text of the proposed rule change is available on

Self-Regulatory Organizations; New York Stock Exchange, Inc., Notice of Filing and Order Granting Accelerated Approval

Thu, Dec 22 2005 11:00:00 GMT

December 15, 2005.

Pursuant to section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (``Exchange Act'' or ``Act''),\2\ and Rule 19b4 thereunder,\3\ notice is hereby given that on October 20, 2005, the New York Stock Exchange, Inc. (``NYSE'' or ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the proposed amendments to its arbitration rules as described in Items I and II below, which items have been prepared by the NYSE. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons and is approving the proposal on an accelerated basis. \1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b4.
I. SelfRegulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change

The proposed rule change consists of the rescission of Exchange Rule 600(g), a pilot rule relating to the waiver of the California Ethics Standards for Neutral Arbitrators in Contractual Arbitrations

Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of

Thu, Dec 22 2005 11:00:00 GMT

December 15, 2005.

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 14, 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 and II below, which Items have been prepared by Phlx. The Exchange has filed the proposal as a ``noncontroversial'' rule change pursuant to section 19(b)(3)(A) of the Act \3\ and Rule 19b4(f)(6) thereunder,\4\ which renders it 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)(6).
I. SelfRegulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change

Phlx proposes to amend Commentary .05 to Phlx

Proposed Collection; Comment Request

Thu, Dec 22 2005 11:00:00 GMT

Upon Written Request, Copies Available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549.

Extension:

Rule 12f1; SEC File No. 270139; OMB Control No. 32350128.

Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (``Commission'') is soliciting comments on the collection of information summarized below. The Commission plans to submit the existing collection of information to the Office of
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Management and Budget for extension and approval.

Applications for Permission To Reinstate Unlisted Trading Privileges

Rule 12f1 (the ``Rule''), originally adopted in 1934 pursuant to sections 12(f) and 23(a) of the Act and as modified in 1995, sets forth the information which an exchange must include in an application to reinstate its ability to extend unlisted trading privileges to any security for which such unlisted trading privilege

Proposed Collection; Comment Request

Thu, Dec 22 2005 11:00:00 GMT

Upon Written Request, Copies Available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549.

Extension:

Rule 12f3; SEC File No. 270141; OMB Control No. 32350249.

Termination or Suspension of Unlisted Trading Privileges

Rule 12f3 (the ``Rule''), which was originally adopted in 1934 pursuant to sections 12(f) and 23(a) of the Act, as modified in 1995, prescribes the information which must be included in applications for and notices of termination or suspension of unlisted trading privileges for a security as contemplated in section 12(f)(4) of the Act. An applica

Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate

Thu, Dec 22 2005 11:00:00 GMT

December 15, 2005.

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Act'') \1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on December 13, 2005, the Chicago Board Options Exchange, Incorporated (``CBOE'' 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 CBOE. The Exchange filed the proposal as a ``noncontroversial'' proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and Rule 19b4(f)(6) thereunder,\4\ which renders it effective upon filing with the Commission.\5\ 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)(iii).
\4\ 17 CFR 240.19b4(f)(6).
\5\ The Exchange has asked the Commission to waive the 30day operative delay required by Rule 19b4(f)(6)

Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate

Thu, Dec 22 2005 11:00:00 GMT

December 15, 2005.

Correction

FR Doc. E57338, issued on December 14, 2005,\1\ incorrectly identified the exchange in the first sentence of the first paragraph of Release No. 3452913. The corrected sentence reads as follows: \1\ See Securities Exchange Act Release No. 52913 (December 7, 2005), 70 FR 74068.
``Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\2\ and Rule 19b4 thereunder,\3\ notice is hereby given that on November 15, 2005, the Chicago Board Options Exchange, Incorporated (``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.''
\2\ 15 U.S.C. 78s(b)(1).

\3\ 17 CFR 240.19b4.

For the Commission, by the Division of Market Regulation, pursuant to delegated authority.\4\
\4\ 17 CFR 200.303(a)(12).
Jonathan G. Katz,
Secretary.
[FR Doc. E57666 Filed 122105; 8:45 am]
BILLING CODE 8

Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate

Thu, Dec 22 2005 11:00:00 GMT

December 15, 2005.

Correction

FR Doc. E57337, issued on December 14, 2005,\1\ incorrectly identified the exchange in the first sentence of the first paragraph of Release No. 3452914. The corrected sentence reads as follows: \1\ See Securities Exchange Act Release No. 52914 (December 7, 2005), 70 FR 74067.
[[Page 76087]]
``Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\2\ and Rule 19b4 thereunder,\3\ notice is hereby given that on November 16, 2005, the Chicago Board Options Exchange, Incorporated (``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.''
\2\ 15 U.S.C. 78s(b)(1).

\3\ 17 CFR 240.19b4.

For the Commission, by the Division of Market Regulation, pursuant to delegated authority.\4\
\4\ 17 CFR 200.303(a)(12).
Jonathan G. Katz,
Secretary.
[FR Doc. E57667 Filed 122105; 8:45

Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of a Proposed Rule

Thu, Dec 22 2005 11:00:00 GMT

December 14, 2005.

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 29, 2005, the Chicago Board Options Exchange, Incorporated (``CBOE'' 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 CBOE. 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
I. SelfRegulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change

The Exchange proposes to revise a CBOE membership rule that relates to CBOE's investigation of membership applicants. The text of the proposed rule change is available on CBOE's Web site (http:

Self-Regulatory Organizations; Notice of Filing of a Proposed Rule Change by the Chicago Stock Exchange, Inc. and

Thu, Dec 22 2005 11:00:00 GMT

December 14, 2005.

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Act'') \1\ and Rule 19b4 thereunder,\2\ notice is hereby given that on November 1, 2005, the Chicago Stock Exchange, Inc. (the ``CHX'' or the ``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 CHX. On December 7, 2005, the Exchange 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. \1\ 15 U.S.C. 78s(b)(1)
\2\ 17 CFR 240.19b4.
\3\ See Form 19b4 dated December 7, 2005. (``Amendment No. 1''). In Amendment No. 1, the Exchange: (1) Deleted any references to customer orders to make clear that a specialist must not ``step ahead'' of any order in the book (not just customer orders) by less than $0.01; (2) deleted a proposed sentence

Self-Regulatory Organizations; International Securities Exchange, Inc.; Notice of Filing and Immediate Effectiveness

Thu, Dec 22 2005 11:00:00 GMT

December 15, 2005.

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 13, 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 ISE. The Exchange has filed the proposal as a ``noncontroversial'' rule change pursuant to section 19(b)(3)(A) of the Act \3\ and Rule 19b4(f)(6) thereunder,\4\ which renders it 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)(6).
I. SelfRegulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change

ISE proposes to amend ISE Rule 504 pertai