Proposed Rules. Notice
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BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-53487; File No. SR-NYSE-2006-21] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of the Pilot Until March 24, 2006 To Put Into Operation Phase 1 of the NYSE HYBRID MARKET SM March 15, 2006. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 thereunder, 2 notice is hereby given that on March 13, 2006, the New York Stock Exchange LLC (“NYSE” 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 Exchange.
NYSE filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b-4(f)(6) 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 240.19b-4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change NYSE proposes to extend the pilot which put into operation Phase 1 of the NYSE HYBRID MARKET SM (“Hybrid Market”) initiative (“Pilot”) 5 proposed in SR-NYSE-2004-05 6 and amendments thereto (“Hybrid Market filings”). 5 *See* Securities Exchange Act Release No. 52954 (December 14, 2005), 70 FR 75519 (December 20, 2005) (SR-NYSE-2005-87). * See also* Securities Exchange Act Release No. 53359 (February 24, 2006), 71 FR 10736 (March 2, 2006) (SR-NYSE-2006-09) (amending the Pilot to provide for the automatic conversion of CAP-DI orders in certain situations). 6 *See* Securities Exchange Act Release Nos. 50173 (August 10, 2004), 69 FR 50407 (August 16, 2004); 50667 (November 15, 2004), 69 FR 67980 (November 22, 2004); and 51906 (June 22, 2005), 70 FR 37463 (June 29, 2005). *See also* Amendment No. 6, filed on September 16, 2005 and Amendment No. 7, filed on October 11, 2005.
II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The self-regulatory organization has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose On December 14, 2005, the Commission approved the Pilot to put into operation Phase 1 of the Hybrid Market initiative with respect to a group of securities, known as Phase 1 Pilot securities (“Pilot securities”). 7 The approval provided that the Pilot would terminate the earlier of:
(1)March 14, 2006 or
(2)Commission action on the Hybrid Market proposal. 8 7 *See* Securities Exchange Act Release No. 51906 (June 22, 2005), 70 FR 37463 (June 29, 2005) (Amendment No. 5 to SR-NYSE-2004-05); * see also* Securities Exchange Act Release No. 52954 (December 14, 2005), 70 FR 75519 (December 20, 2005) (SR-NYSE-2005-87). 8 *See* Telephone conversation between Jeffrey Rosenstrock, Principal Rule Counsel, NYSE, and Steve L. Kuan, Special Counsel, Division of Market Regulation, Commission, on March 14, 2006. The Exchange proposes to extend the Pilot through March 24, 2006, while the Commission continues to review the Hybrid Market filings. The Exchange believes that an extension of the Pilot through March 24, 2006 will allow the Exchange to continue to conduct real-time system and user testing of certain features of the Hybrid Market filings in order to be in a position to comply with the implementation of Regulation NMS. 9 9 *See* Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 37496 (June 29, 2005). The Exchange believes the Pilot has proven beneficial from both a technology and a training perspective. It has given the Exchange the opportunity to identify and address any system problems and to identify and incorporate beneficial system changes that become apparent as a result of usage in real time and under real market conditions. The ability to have such real time user interface is invaluable, as it is impossible to accurately anticipate behavioral changes in a development or mock-trading environment. In addition, the Pilot has allowed users to gain essential practical experience with the new systems and processes in a well-modulated way. The Pilot has operated with minimal problems given the amount and degree of testing and training that has occurred to date. 10 Therefore, the Exchange believes it is appropriate to extend the Pilot through March 24, 2006. 10 *See* Telephone conversation between Jeffrey Rosenstrock, Principal Rule Counsel, NYSE, and Steve L. Kuan, Special Counsel, Division of Market Regulation, Commission, on March 14, 2006. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act 11 in general, and furthers the objectives of Section 6(b)(5) of the Act 12 in particular, in that it is designed to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. The Exchange believes that the proposed rule change is also designed to support the principles of Section 11A(a)(1) of the Act 13 in that it seeks to assure economically efficient execution of securities transactions, make it practicable for brokers to execute investors' orders in the best market, and provide an opportunity for investors' orders to be executed without the participation of a dealer. 11 15 U.S.C. 78f. 12 15 U.S.C. 78f(b)(5). 13 15 U.S.C. 78k-1(a)(1). B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not significantly affect the protection of investors or the public interest; does not impose any significant burden on competition; and by its terms, does not become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest, it has become effective pursuant to Section 19(b)(3)(A) of the Act 14 and Rule 19b-4(f)(6) thereunder. 15 14 15 U.S.C. 78s(b)(3)(A). 15 17 CFR 240.19b-4(f)(6). A proposed rule change filed under Rule 19b-4(f)(6) normally may not become operative prior to 30 days after the date of filing. However, Rule 19b-4(f)(6)(iii) 16 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the five-day pre-filing notice requirement and the 30-day operative delay and designate the proposed rule change immediately operative upon filing. The Commission believes that waiver of the five-day pre-filing notice requirement and the 30-day operative delay is consistent with the protection of investors and the public interest because it would allow the Pilot to continue without interruption. Accordingly, the Commission designates the proposal to be effective and operative upon filing with the Commission. 17 16 17 CFR 240.19b-4(f)(6)(iii). 17 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission's Internet comment form ( *http://www.sec.gov/rules/sro.shtml* ); or • Send an e-mail to *rule-comments@sec.gov.* Please include File Number SR-NYSE-2006-21 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSE-2006-21. This file number should be included on the subject line if e-mail is used. To help the Commission 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/sro.shtml* ). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission's Public Reference Room. Copies of such filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSE-2006-21 and should be submitted on or before April 11, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 18 18 17 CFR 200.30-3(a)(12). Nancy M. Morris, Secretary. [FR Doc. E6-4057 Filed 3-20-06; 8:45 am] BILLING CODE 8010-01-P SOCIAL SECURITY ADMINISTRATION Agency Information Collection Activities: Comment Request The Social Security Administration
(SSA)publishes a list of information collection packages that will require clearance by the Office of Management and Budget
(OMB)in compliance with Public Law 104-13, the Paperwork Reduction Act of 1995, effective October 1, 1995. The information collection package included in this notice is for approval of a new information collection. SSA is soliciting comments on the accuracy of the agency's burden estimate; the need for the information; its practical utility; ways to enhance its quality, utility, and clarity; and on ways to minimize burden on respondents, including the use of automated collection techniques or other forms of information technology. Written comments and recommendations regarding the information collection(s) should be submitted to the OMB Desk Officer and the SSA Reports Clearance Officer. The information can be mailed and/or faxed to the individuals at the addresses and fax numbers listed below: (OMB), Office of Management and Budget, Attn: Desk Officer for SSA, Fax: 202-395-6974. (SSA), Social Security Administration, DCFAM, Attn: Reports Clearance Officer, 1333 Annex Building, 6401 Security Blvd., Baltimore, MD 21235, Fax: 410-965-6400, E-mail: *OPLM.RCO@ssa.gov.* The information collection listed below has been submitted to OMB for clearance. Your comments on the information collection would be most useful if received by OMB and SSA within 30 days from the date of this publication. You can obtain a copy of the OMB clearance package by calling the SSA Reports Clearance Officer at 410-965-0454, or by writing to the address listed above. Redetermination of Eligibility for Help with Medicare Prescription Drug Plan Costs—0960-NEW. Under the aegis of the Medicare Modernization Act of 2003 (Public Law 108-173), SSA will conduct low-income subsidy eligibility redeterminations for Medicare beneficiaries who filed for the subsidy and were determined by SSA to be eligible. Subsidy eligibility redeterminations will be conducted when:
(1)Medicare Part D subsidy beneficiaries use form SSA-1026-REDE to report a change in income, resources, or household information in response to SSA's inquiry via form SSA-L1026 and
(2)Medicare Part D subsidy beneficiaries use form SSA-1026-SCE to report a subsidy-changing event which could potentially impact the amount of their subsidy, including marriage, separation, divorce/annulment, or spousal death. The respondents are current recipients of the Medicare Part D low-income subsidy who will undergo an eligibility redetermination for one of the reasons mentioned above. Following is a description of the forms in this collection, the number of respondents who will complete them, and their burden data. *Type of Request:* New information collection. Form Explanation Number of respondents Frequency of response (per year) Average burden per response (completion time; expressed in minutes) Estimated annual burden (expressed in hours) SSA-L1026 Passive redetermination letter informing Medicare Part D subsidy recipients what income, resource, and household information SSA has on file for them, and asking if this information has changed 1.5 million 1 5 125,000 SSA-1026-REDE Redetermination form completed by Medicare Part D subsidy recipients who said their income, resource, or household information had changed in their response to form SSA-L1026 Beginning in 2007, this form will also be used as a cyclical redetermination form to be completed by Medicare Part D subsidy recipients who are automatically sent the form based on certain profile/selection criteria 300,000 1 20 100,000 SSA-1026-SCE Redetermination form completed by Medicare Part D subsidy recipients who called SSA to inform them of an event which is potentially subsidy-changing (marriage, divorce, annulment, legal separation, spousal death). This form, which is identical to form SSA-1026-RE but has a different cover sheet, will replace form OMB No. 0960-0703 (SSA-1020-SC) 76,000 1 20 25,333 Total 1,876,000 250,333 Dated: March 16, 2006. Elizabeth A. Davidson, Reports Clearance Officer, Social Security Administration. [FR Doc. E6-4085 Filed 3-20-06; 8:45 am] BILLING CODE 4191-02-P DEPARTMENT OF STATE [Public Notice 5258] Bureau of Political-Military Affairs: Directorate of Defense Trade Controls: Renewal of Defense Trade Advisory Group Charter AGENCY: Department of State. ACTION: Notice. SUMMARY: Notice is hereby given that the Charter of the Defense Trade Advisory Group
(DTAG)has been renewed for a two-year period. The membership of this advisory committee consists of private sector defense trade specialists appointed by the Assistant Secretary of State for Political-Military Affairs who advise the Department on policies, regulations, and technical issues affecting defense trade. FOR FURTHER INFORMATION CONTACT: Mary F. Sweeney, DTAG Secretariat, U.S. Department of State, Office of Defense Trade Controls Management, Room 1200, SA-1, Washington, DC 20522-0112, Telephone
(202)663-2865, Fax
(202)261-8199, and E-mail: *sweeneymf@state.gov.* Dated: March 15, 2006. Michael T. Dixon, Executive Secretary, Defense Trade Advisory Group, Department of State. [FR Doc. E6-4080 Filed 3-20-06; 8:45 am] BILLING CODE 4710-25-P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Proposed Advisory Circular 25.981-2A, Fuel Tank Flammability AGENCY: Federal Aviation Administration (FAA), DOT. ACTION: Notice of Availability of Proposed Advisory Circular
(AC)25.981-2A, Fuel Tank Flammability and request for comments; extension of comment period. SUMMARY: This action extends the comment period for a notice of availability of proposed AC 25.981-2A, Fuel Tank Flammability, and request for comments published on November 28, 2005. In this Notice, the FAA announced the availability of and requested comments on a proposed AC which sets forth an acceptable means, but not the only means, of demonstrating compliance with the provisions of the airworthiness standards in a Notice of Proposed Rulemaking published on November 23, 2005. The comment period for this Notice closes on the same day as the comment period for the NPRM (March 23, 2006). The extension of the Notice's comment period is a result of an extension of the NPRM's comment period. DATES: Send your comments on or before May 8, 2006. ADDRESSES: Send your comments on the proposed AC to the individual named under the FOR FURTHER INFORMATION CONTACT section of this extension. Comments may be inspected at that address between 7:30 a.m. and 4 p.m., except Federal Holidays. FOR FURTHER INFORMATION CONTACT: Michael E. Dostert, FAA Propulsion/Mechanical Systems Branch, ANM-112, Transport Airplane Directorate, Aircraft Certification Service, 1601 Lind Avenue, SW., Renton, Washington 98055-4056; telephone
(425)227-2132, facsimile (425-227-1320); e-mail: *mike.dostert@faa.gov.* SUPPLEMENTARY INFORMATION: Comments Invited The FAA continues to invite interested persons to comment on the proposed AC by sending written comments, data, or views about it. Commenters should identify AC 25.981-2A and submit comments, in duplicate, to the address specified above. The Transport Standards Staff will consider all communications received on or before the closing date for comments before issuing the final AC. The proposed AC can be found and downloaded from the Internet at *http://www.airweb.faa.gov/rgl* under “Draft Advisory Circulars.” A paper copy of the proposed AC may be obtained by contacting the person named above under the caption FOR FURTHER INFORMATION CONTACT . Background On November 18, 2005, we issued a Notice of availability of proposed AC 25.981-2A, Fuel Tank Flammability, and request for comments (70 FR 71365; November 28, 2005). This Notice announced the availability of and requested comments on a proposed AC which sets forth an acceptable means, but not the only means, of demonstrating compliance with the provisions of the airworthiness standards in that Notice of Proposed Rulemaking
(NPRM)entitled “Reduction of Fuel Tank Flammability in Transport Category Airplanes” (70 FR 70922, November 23, 2005). The comment periods for the NPRM and the proposed AC both end on March 23, 2006. The FAA received requests from a number of entities to extend the comment period on the NPRM to allow public comment on new information that has recently been placed in the public docket. Based on these requests and our belief that additional requests for extensions will be filed shortly, we determined it would be appropriate to extend the comment period on the NPRM by 45 days. Since the proposed AC is associated with the NPRM, we want their comment period closing dates to be the same. Therefore, we need to extend the comment period for the proposed AC by 45 days to be consistent. Absent unusual circumstances, we do not anticipate any further extension of the comment period for the proposed AC. The extension of the comment period for the NPRM is being published concurrently with this extension. Extension of Comment Period The FAA finds that an extension of the comment period for the Notice of availability of proposed AC 25.981-2A, Fuel Tank Flammability, and request for comments is consistent with the public interest, and that good cause exists for taking this action. Accordingly, the comment period for the Notice of availability of proposed AC 25.981-2A, Fuel Tank Flammability, and request for comments is extended until May 8, 2006. Issued in Washington, DC on March 14, 2006. John J. Hickey, Director, Aircraft Certification Service. [FR Doc. E6-4023 Filed 3-20-06; 8:45 am] BILLING CODE 4910-13-P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Public Notice for Waiver of Aeronautical Land-Use Assurance; Faribault Municipal Airport; Faribault Minnesota AGENCY: Federal Aviation Administration, DOT. ACTION: Notice of intent of waiver with respect to land. SUMMARY: The Federal Aviation Administration
(FAA)is considering a proposal to authorize the release of a portion of the airport property. The City of Faribault, MN is proposing to release for sale 29.72 acres of existing airport land for the development of an Army Reserve and Minnesota National Guard Readiness Center. The acreage being released is not needed for aeronautical use as currently identified on the Airport Layout Plan. The acreage comprising this parcel was originally acquired with local funds in 1944 and 1945. The City of Faribault (Minnesota), as airport owner, has concluded that the subject airport is not needed for expansion of airport facilities. There are no impacts to the airport by allowing the airport to dispose of the property. The appraised value is $830,000 and the Airport will receive that amount. Approval does not constitute a commitment by the FAA to financially assist in the disposal of the subject airport property nor a determination of eligibility for grant-in-aid funding from the FAA. The disposition of proceeds from the disposal of the airport property will be in accordance with FAA's Policy and Procedures Concerning the Use of Airport Revenue, published in the **Federal Register** on February 16, 1999. In accordance with section 47107(h) of title 49, United States Code, this notice is required to be published in the **Federal Register** 30 days before modifying the land-use assurance that requires the property to be used for an aeronautical purpose. DATES: Comments must be received on or before April 20, 2006. FOR FURTHER INFORMATION CONTACT: Ms. Sandra E. DePottey, Program Manager, Federal Aviation Administration, Airports, District Office, 6020 28th Avenue South, Room 102, Minneapolis, MN 55450-2706. Telephone Number
(612)713-4350/FAX Number
(612)713-4364. Documents reflecting this FAA action may be reviewed at this same location or at the Faribault City Hall Airport, 208 First Avenue, NW., Faribault, MN 55021. SUPPLEMENTARY INFORMATION: Following is a legal description of the subject airport property to be released at Faribault Municipal Airport in Faribault, MN and described as follows: All that part of the N 1/2 NE 1/4 Section 23-T110N-R21W, Rice County Minnesota; described as follows: Commencing at the southwest corner of the N 1/2 NE 1/4 of said Section 23; thence North 89°35′43″ East a distance of 1843.30 feet, on the south line of said N 1/2 NE 1/4 ; thence North 52°47′17″ West a distance of 2181.22 feet, to a point on the north line of the NE 1/4 of said Section 23; thence south 89°16′25″ West a distance of 101.83 feet, on north line of said NE 1/4 , to the northwest corner of said NE 1/4 ; thence south 00°11′07″ west a distance of 1330.86 feet, on the west line of said NE 1/4 to the point of beginning. Said parcel subject to all easements, restrictions, and reservations of record. Issued in Minneapolis, MN on February 23, 2006. Robert A. Huber, Acting Manager, Minneapolis Airports District Office, FAA, Great Lakes Region. [FR Doc. 06-2665 Filed 3-20-06; 8:45 am]
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U.S. Code
- Registration, responsibilities, and oversight of self-regulatory organizations§ 78s
- National securities exchanges§ 78f
- National market system for securities; securities information processors§ 78k–1
- Definitions and application§ 78c
- Public information; agency rules, opinions, orders, records, and proceedings§ 552
3 references not yet in our index
- 17 CFR 240.19
- Pub. L. 104-13
- Pub. L. 108-173
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cites case law
Proposed Rules
Notice
Cite17 CFR 240.19
Pub. L.Pub. L. 104-13
Pub. L.Pub. L. 108-173
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