Notices. Notice of application to amend a prior order under section 6(c) of the Investment Company Act of 1940 (“Act”) for an exemption from sections 2(a)(32), 5(a)(1), 22(d), 22(e) and 24(d) of the Act and rule 22c-1 under the Act, under sections 6(c) and 17(b) of the Act for an exemption from sections 17(a)(1) and (a)(2) of the Act, and under section 12(d)(1)(J) for an exemption from sections 12(d)(1)(A) and (B) of the Act
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BILLING CODE 3920-11-M SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549-0213 Extension: Regulation C; OMB Control No. 3235-0074; SEC File No. 270-68. 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 this existing collection of information to the Office of Management Budget for extension and approval. Regulation C (17 CFR 230.400 through 230.498) provides standard instructions to guide persons when filing registration statements under the Securities Act of 1933(15 U.S.C. 77a, *et seq.* ). The information collected is intended to ensure the adequacy of information available to investors in the registration of securities. Regulation C is assigned one burden hour for administrative convenience because the regulation simply prescribes the disclosure that must appear in other filings under the federal securities laws.
Written comments are invited on:
(a)Whether these proposed collections of information are necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
(b)the accuracy of the agency's estimate of the burden imposed by the collection of information;
(c)ways to enhance the quality, utility, and clarity of the information collected; and
(d)ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Please direct your written comments to R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312; or send an e-mail to: *PRA_Mailbox@sec.gov* . Dated: September 26, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-19408 Filed 10-1-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. IC-27982; 812-13396] Claymore Exchange-Traded Fund Trust, et al.; Notice of Application September 26, 2007. AGENCY: Securities and Exchange Commission (“Commission”). ACTION: Notice of application to amend a prior order under section 6(c) of the Investment Company Act of 1940 (“Act”) for an exemption from sections 2(a)(32), 5(a)(1), 22(d), 22(e) and 24(d) of the Act and rule 22c-1 under the Act, under sections 6(c) and 17(b) of the Act for an exemption from sections 17(a)(1) and (a)(2) of the Act, and under section 12(d)(1)(J) for an exemption from sections 12(d)(1)(A) and
(B)of the Act. *Summary of Application:* Applicants request an order to amend a prior order that permits:
(a)Open-end management investment companies, whose series are based on certain equity securities indices, to issue shares of limited redeemability;
(b)secondary market transactions in the shares of the series to occur at negotiated prices;
(c)dealers to sell shares to purchasers in the secondary market unaccompanied by a prospectus when prospectus delivery is not required by the Securities Act of 1933 (“Securities Act”);
(d)certain affiliated persons of the series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of aggregations of the series' shares;
(e)under certain circumstances, certain series to pay redemption proceeds more than seven days after the tender of shares; and
(f)certain registered management investment companies and unit investment trusts outside of the same group of investment companies as the series to acquire shares of the series (the “Prior Order”). 1 Applicants seek to amend the Prior Order in order to offer additional series based on certain fixed income securities indices (the “New Funds”). In addition, the order would delete a condition related to future relief in the Prior Order. 1 Claymore Exchange-Traded Fund Trust, *et al.* , Investment Company Act Release Nos. 27469 (Aug. 28, 2006) (notice) and 27483 (Sept. 18, 2006) (order). *Applicants:* Claymore Advisors, LLC (“Adviser”), Claymore Securities, Inc. (“Distributor”), Claymore Exchange-Traded Fund Trust and Claymore Exchange-Traded Fund Trust 2 (each, a “Trust” and together, the “Trusts”). *Filing Dates:* The application was filed on May 30, 2007, and amended on August 9, 2007. Applicants have agreed to file an amendment during the notice period, the substance of which is reflected in this notice. *Hearing or Notification of Hearing:* An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission's Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on October 22, 2007, and should be accompanied by proof of service on applicants, in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer's interest, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Commission's Secretary. ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. Applicants, 2455 Corporate West Drive, Lisle, IL 60532. FOR FURTHER INFORMATION CONTACT: Christine Y. Greenlees, Senior Counsel, at
(202)551-6879, or Mary Kay Frech, Branch Chief, at
(202)551-6821 (Division of Investment Management, Office of Investment Company Regulation). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained for a fee at the Commission's Public Reference Branch, 100 F Street, NE., Washington, DC 20549-0102 (tel. 202-551-5850). Applicants' Representations 1. Each Trust is an open-end management investment company registered under the Act and organized as a Delaware statutory trust. The Trusts are organized as series funds with multiple series. The Adviser, an investment adviser registered under the Investment Advisers Act of 1940 (the “Advisers Act”), will serve as investment adviser to the New Funds. The Adviser may retain sub-advisers (“Sub-Advisers”) to manage the assets of a New Fund. Any Sub-Adviser will be registered under the Advisers Act. The Distributor, a broker-dealer registered under the Securities Exchange Act of 1934 (“Exchange Act”), will serve as the principal underwriter of the New Funds' shares. 2. Each Trust is currently permitted to offer series based on equity securities indices (the “Equity Funds,” and together with the New Funds and the Future Funds (defined below), the “Funds”) in reliance on the Prior Order. Applicants seek to amend the Prior Order to permit the Trusts to offer the New Funds that, except as described in the application, would operate in a manner identical to the existing Equity Funds that are subject to the Prior Order. 3. Each New Fund will invest in fixed-income securities (“Portfolio Securities”) selected to correspond generally to the price and yield performance, before fees and expenses, of a specified securities index (an “Index”). 2 No entity that creates, compiles, sponsors, or maintains an Index is or will be an affiliated person, as defined in section 2(a)(3) of the Act, or an affiliated person of an affiliated person, of the Trusts, the Adviser, the Distributor or any Sub-Adviser, or promoter to a New Fund. 2 The Indexes for the New Funds are: CPMKTS—The Capital Markets Index, CPMKTB—The Capital Markets Bond Index, and CPMKTL—The Capital Markets Liquidity Index. 4. The investment objective of each New Fund will be to provide investment results that correspond generally to the price and yield performance of the relevant Index. The Adviser may fully replicate a New Fund's relevant Index or use a representative sampling strategy where the New Fund will seek to hold a representative sample of the component securities of the Index. Applicants currently expect that each New Fund will use a sampling technique to track its Index. 5. Under the Prior Order, applicants stated that each Equity Fund would invest at least 90% of its total assets in common stocks that comprise the relevant Index, and may invest up to 10% of its total assets in securities, options and futures not included in its Index which the Adviser believes would help the Equity Fund track the Index. Applicants seek to amend the Prior Order to provide that each Fund generally will invest at least 80% or 90% of its total assets in the securities that comprise the relevant Index, but at times may invest up to 20% of its total assets in certain futures, options, and swap contracts, cash and cash equivalents, including money market funds, as well as securities not included in its Index which the Adviser believes will help the Fund track its Index. At all times, a Fund will hold, in the aggregate, at least 80% of its total assets in component securities and investments that have economic characteristics that are substantially identical to the economic characteristics of the component securities of its Index. Applicants expect that each New Fund will have a tracking error relative to the performance of its respective Index of less than 5 percent. 6. Applicants state that a New Fund will comply with the federal securities laws in accepting a deposit of a portfolio of securities designated by the Adviser to correspond generally to the price and yield of the New Fund's Index (“Deposit Securities”) 3 and satisfying redemptions with portfolio securities of the New Fund (“Fund Securities”), including that the Deposit Securities and Fund Securities are sold in transactions that would be exempt from registration under the Securities Act. 4 The specified Deposit Securities and Fund Securities generally will correspond pro rata, to the extent practicable, to the Portfolio Securities of a New Fund. 3 Applicants state that a cash-in-lieu amount will replace any “to-be-announced” (“TBA”) transaction that is listed as a Deposit Security or Fund Security of any New Fund. A TBA transaction is a method of trading mortgage-backed securities where the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount and price. The actual pools delivered generally are determined two days prior to the settlement date. The amount of substituted cash in the case of TBA transactions will be equivalent to the value of the TBA transaction listed as a Deposit Security or Fund Security. 4 In accepting Deposit Securities and satisfying redemptions with Fund Securities that are restricted securities eligible for resale pursuant to rule 144A under the Securities Act, the New Fund will comply with the conditions of rule 144A, including in satisfying redemptions with such rule 144A eligible restricted Fund Securities. The prospectus for a New Fund will also state that an authorized participant that is not a “Qualified Institutional Buyer,” as defined in rule 144A under the Securities Act, will not be able to receive, as part of a redemption, restricted securities eligible for resale under rule 144A. 7. Applicants state that the New Funds will operate in a manner identical to the operation of the existing Equity Funds in the Prior Order, except as specifically noted by applicants (and summarized in this notice), and will comply with all of the terms, provisions and conditions of the Prior Order, as amended by the present application. Applicants believe that the requested relief continues to meet the necessary exemptive standards. Future Relief 8. Applicants also seek to amend the Prior Order to modify the terms under which the Trusts may offer additional series in the future based on other securities indices (“Future Funds”). The Prior Order is currently subject to a condition that does not permit applicants to register the shares of any Future Fund by means of filing a post-effective amendment to a Trust's registration statement or by any other means, unless applicants have requested and received with respect to such Future Fund, either exemptive relief from the Commission or a no-action letter from the Division of Investment Management of the Commission, or if the Future Fund could be listed on a national securities exchange (“Exchange”) without the need for a filing pursuant to rule 19b-4 under the Exchange Act. 9. The order would amend the Prior Order to delete this condition. Any Future Funds will:
(a)Be advised by the Adviser or an entity controlled by or under common control with the Adviser;
(b)track Indexes that are created, compiled, sponsored or maintained by an entity that is not an affiliated person, as defined in section 2(a)(3) of the Act, or an affiliated person of an affiliated person, of the Adviser, the Distributor, the Trusts or any Sub-Adviser or promoter of a Future Fund; and
(c)comply with the respective terms and conditions of the Prior Order, as amended by the present application. 10. Applicants believe that the modification of the future relief available under the Prior Order would be consistent with sections 6(c) and 17(b) of the Act and that granting the requested relief will facilitate the timely creation of Future Funds and the commencement of secondary market trading of such Future Funds by removing the need to seek additional exemptive relief. Applicants submit that the terms and conditions of the Prior Order have been appropriate for the existing series of the Trusts and would remain appropriate for Future Funds. Applicants also submit that tying exemptive relief under the Act to the ability of a Future Fund to be listed on an Exchange without the need for a rule 19b-4 filing under the Exchange Act is not necessary to meet the standards under sections 6(c) and 17(b) of the Act. Applicants' Condition Applicants agree that any amended order granting the requested relief will be subject to the same conditions as those imposed by the Prior Order, except for condition 1 to the Prior Order, which will be deleted. For the Commission, by the Division of Investment Management, pursuant to delegated authority. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-19385 Filed 10-1-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94-409, that the Securities and Exchange Commission will hold the following meetings during the week of October 1, 2007: An Open Meeting will be held on Monday, October 1, 2007 at 10 a.m., in the Auditorium, Room L-002 and a Closed Meeting will be held on Wednesday, October 3, 2007 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(5), (7), (9)(B), and
(10)and 17 CFR 200.402(a)(5), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Atkins, as duty officer, voted to consider the items listed for the closed meeting in closed session, and determined that no earlier notice thereof was possible. The subject matter of the Open Meeting, scheduled for Monday, October 1, 2007 will be: The Commission will hear oral argument in an appeal by Stephen J. Horning from the decision of an administrative law judge. Horning was the president, registered financial and operations principal, compliance officer, and a director of Rocky Mountain Securities & Investments, Inc., formerly a registered broker-dealer. The law judge found that: Horning failed reasonably to supervise two former Rocky Mountain employees with a view to preventing their violations of Section 10(b) of the Securities Exchange Act of 1934 and Exchange Act Rule 10b-5; and Horning was a cause of Rocky Mountain's inaccurate books and records and its filing of materially false reports in violation of Exchange Act Sections 15(c)(3), 17(a), and 17(e) and Exchange Act Rules 15c3-1, 15c3-3, 17a-3, 17a-5(a), 17a-5(c), 17a-5(d), 17a-11, and 17a-13. The law judge barred Horning from association with any broker or dealer in a supervisory capacity and suspended him from association with any broker or dealer in any capacity for twelve months. Among the issues likely to be argued are 1. Whether Horning failed reasonably to supervise; or 2. Whether Horning was the cause of the alleged financial, books, and recordkeeping violations; and 3. If so, whether sanctions should be imposed in the public interest. The subject matter of the Closed Meeting scheduled for Wednesday, October 3, 2007 will be: Formal order of investigation; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; An adjudicatory matter; and Other matters related to enforcement actions. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at
(202)551-5400. Dated: September 26, 2007. Nancy M. Morris, Secretary. [FR Doc. E7-19384 Filed 10-1-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release Nos. 34-56534; IA-2658; File No. S7-24-07] Public Alert: Unregistered Soliciting Entities (“Pause”) Program AGENCY: Securities and Exchange Commission. ACTION: Notice; request for comment. SUMMARY: The Securities and Exchange Commission (“SEC” or “Commission”) is announcing a new program that will post on its Web site certain factual information about unregistered entities that are engaged in the solicitation of securities transactions. DATES: Comments should be submitted on or before November 1, 2007. ADDRESSES: Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission's Internet comment form ( *http://www.sec.gov/rules/other.shtml);* or • Send an e-mail to *rule-comments@sec.gov.* Please include File Number S7-24-07 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 S7-24-07. This file number should be included on the subject line if e-mail is used. To help us 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/other.shtml);* Comments also are available for public inspection and copying in the Commission's Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: John Reed Stark, Chief of the Office of Internet Enforcement and Counselor to the Director, at
(202)551-4540, Jack Hardy, Branch Chief, Office of Investor Education and Advocacy, at
(202)551-6500, Alberto Arevalo, Acting Assistant Director, Office of International Affairs, at
(202)551-6690, at the Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-6628. SUPPLEMENTARY INFORMATION: The Commission today is announcing a new program for informing the public about unregistered entities engaged in solicitations of securities transactions. Through this new program, “Public Alert: Unregistered Soliciting Entities” (“PAUSE”), the Commission will publish on its Web site certain factual information about unregistered soliciting entities that have been the subject of complaints forwarded by investors and others, including fellow securities regulators. By making this information readily available, the Commission expects investors to be better able to evaluate solicitations to buy and sell securities. Before the program and Web site become operational December 3, 2007 the Commission is interested in receiving comments and suggestions on the PAUSE program. 1. Background Generally, entities that solicit purchases or sales of securities for the accounts of other persons in the United States are required to register with the SEC. The Commission regularly receives complaints and inquiries from investors and others, including foreign securities regulators, about solicitations made by entities claiming to be registered, licensed and/or operating in the United States, and in some cases, entities soliciting U.S. investors that are not registered in the United States. When an entity claims to be registered with the SEC, it is in effect claiming that it has made itself available for SEC regulation and oversight. For this reason, it is important for prospective investors to consider whether a soliciting entity is, in fact, registered with the SEC. The Commission's Office of Investor Education and Advocacy (“OIEA”) fields investor complaints and inquiries. The single largest number of investor complaints received by OIEA concern solicitations of investors by unregistered entities that appear to be involved in boiler room and secondary advance fee schemes. 1 In 2005 and 2006, OIEA received respectively 1,385 and 1,418 complaints from investors who were solicited by unregistered entities, many of which purported to be U.S.-based securities firms trading in securities of U.S.-based issuers. 1 Boiler room operations use high-pressure sales tactics generally over the telephone and solicit investors with false and/or misleading information. They frequently purport to be registered broker dealers and/or operating in the United States and offer “opportunities” to invest in securities, often issued by companies organized in the United States. The schemes are disbanded and the wrongdoers disappear after investors wire their money, which is then transferred to offshore accounts. Secondary “advance fee” schemes work very similarly to boiler room operations, the difference being that an advance fee scheme generally targets investors who purchased underperforming securities, perhaps through an affiliated boiler room, offering to arrange a lucrative sale of those securities, but first requiring the payment of an “advance fee” in the form of a commission, regulatory fee or tax, or some other incidental expense. The advance fees are paid, but the promised sale of the securities is never arranged. For more information about boiler rooms and advance fee schemes, please see the following discussions on our Web site: • The Fleecing of Foreign Investors: Avoid Getting Burned by “Hot” U.S. Stocks ( *http://www.sec.gov/investor/pubs/fleecing.htm* ) • Worthless Stock: How to Avoid Doubling Your Losses ( *http://www.sec.gov/investor/pubs/worthless.htm* ) • Protect Your Money: Check Out Brokers and Investment Advisers ( *http://www.sec.gov/investor/brokers.htm* ) Moreover, perpetrators of boiler rooms and advance fee schemes increasingly use new devices to convince investors that their solicitations are legitimate, including: • Impersonating U.S. registered securities firms by, for example, using the same or a similar name or providing an address that closely resembles that of a U.S. registered securities firm; • Making false reference to, including false claims of endorsement by, governmental agencies and international organizations (sometimes even impersonating them); and • Claiming endorsements by, or making other reference to, governmental agencies and international organizations that sound official, but do not exist. 2 2 In one case, a soliciting entity impersonated the International Organization of Securities Commissions (“IOSCO”). The Securities Investor Protection Corporation (“SIPC”) has also been impersonated by virtue of a “look alike” Web site and responded by posting an alert identifying the fictitious organization, the “International Brokerage Association.” Our staff is frequently able to determine quickly the accuracy of various claims made by the soliciting entities. For example, a claim by an entity that it is a U.S. registered broker-dealer is easily verifiable by checking public sources, including the Central Registration Depository database administered by the Financial Industry Regulatory Authority, Inc. (formerly, the NASD). 3 Entities that use names that are the same as, or similar to, the names of U.S. registered securities firms can also be verified by checking public sources and obtaining information from officials at the firms. In this way, our staff can also determine whether the complained-of entity has any actual affiliation with the registered firm. A claim that an entity operates from a particular location in the United States can also be established. Finally, if a soliciting entity claims that the securities it offers are approved or endorsed by a particular governmental agency, that claim can usually also be quickly confirmed. 3 *http://www.nasd.com/InvestorInformation/InvestorProtection/ChecktheBackgroundofYourInvestmentProfessional/index.htm* In appropriate cases, our staff's review may lead to a referral to the Division of Enforcement, which may begin an investigation of possible securities law violations, and the Commission may ultimately bring an enforcement action for such violations. However, in a significant number of cases there may be obstacles to effective enforcement action. Soliciting entities change names frequently, often before law enforcement action can be taken. Often the subjects of complaints purport to be based in the United States, but in fact operate from numerous jurisdictions overseas. Notwithstanding cooperation with foreign counterparts, investigations of offshore operations can be complex and time-consuming. Even if the Division of Enforcement's investigation determines that the entities involved in such activities have sufficient contacts with the United States to grant the Commission and U.S. courts with jurisdiction over their conduct, there can be substantial obstacles to completing legal action against these foreign operators and obtaining meaningful relief, while in the meantime investors can suffer significant harm. 2. The PAUSE Program In light of the challenges associated with taking enforcement action against such operations, the Commission believes that it is useful to devise a complementary approach that serves to empower prospective investors. The goal of the PAUSE Program is to provide prospective investors with relevant information about unregistered soliciting entities before they invest. To implement the PAUSE Program, the Commission will post on its public Web site specific information about unregistered soliciting entities that have been the subject of complaints. For each of these entities, the Commission's staff will have determined either
(1)That there is no U.S. registered securities firm with that name, or
(2)that there is a U.S. registered securities firm with the same (or a similar) name but that solicitations appear to have been made by persons not affiliated with the U.S. registered securities firm. In addition, the PAUSE list will contain a “Comments” section for each entry. The Comments section will reflect certain results of the staff's investigation addressing the entity's U.S. registration status; any use of a name that is the same or similar to that of a U.S. registered securities firm; and any references to governmental agencies and international organizations in the solicitations. The Comments section may include other relevant information that may be helpful to investors, such as the use of addresses that do not appear to exist. A second PAUSE list will name fictitious governmental agencies and international organizations referred to by complained-of entities. 3. Additional Information The Commission's intent is to publish factual information that may be valuable to investors in connection with their investment decisions. 4 A listing on the PAUSE web page does not mean that the Commission has found violations of U.S. federal securities laws or made a judgment about the merits of any securities offered by listed entities. As well, the PAUSE web page will not necessarily include information about all unregistered entities or entities that have been the subject of complaints. There may be various reasons, including law enforcement and policy, which may militate against including information about an entity on the PAUSE web page. The Commission intends to regularly update the PAUSE lists and archive information approximately nine months from the date of last observed activity. 4 *See, e.g.* , Securities Exchange Act § *section* 21(a). *Cf. Kukatush Mining Corp.* v. *Securities and Exchange Commission* , 309 F.2d 647 (D.C. Cir. 1962); and Freedom of Information Act, 5 U.S.C. 552. 4. Corrections The Commission is committed to providing accurate information under the PAUSE Program. Before listing an entity on PAUSE, the Commission's staff will notify the entity and provide an opportunity—two calendar days from the date of the staff's notification letter—for the entity to respond. If, after being listed on PAUSE, an entity believes it should be removed from a list because information included about it is incorrect, or for other reasons, it should notify the Commission's staff and provide such documents and other information as reasonably necessary to support its assertion. To notify the Commission of a factual error or to request removal from a list, please write to the following address: U.S. Securities and Exchange Commission, Attn: PAUSE Program Administrator, 100 F Street, NE., Washington, DC 20549-5631, *enf-pauseresponse@sec.gov* , Fax: 202-772-9278. Submissions will be reviewed for appropriate action by Commission staff. Dated: September 26, 2007. By the Commission. Nancy M. Morris, Secretary. [FR Doc. E7-19343 Filed 10-1-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56530; File No. SR-Amex-2007-102] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change To Amend the Requirements for Listing Commodity-Linked Securities and Currency-Linked Securities September 25, 2007. 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 August 29, 2007, 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 and II below, which Items have been substantially prepared by the Exchange. This order provides notice of the proposed rule change and approves the proposed rule change on an accelerated basis. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Sections 107E and 107F of the Amex *Company Guide* (the “Company Guide”) relating to the listing requirements for commodity-linked securities (“Commodity-Linked Securities”) and currency-linked securities (“Currency-Linked Securities”). The text of the proposed rule change is available at Amex, the Commission's Public Reference Room, and *http://www.amex.com.* 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 III below. The Exchange 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 The Exchange proposes to amend sections 107E and 107F of the Company Guide to permit the listing of Commodity-Linked Securities and Currency-Linked Securities, respectively, where the pricing information for up to 10% of the dollar weight of the Commodity Reference Asset, 3 in the case of Commodity-Linked Securities, or the Currency Reference Asset, 4 in the case of Currency-Linked Securities, is derived from markets that do meet the general requirements as set forth in sections 107E(g)(1)(ii) and 107F(g)(1)(ii), respectively. 5 The Exchange further proposes that no single component subject to the foregoing proposed exception may exceed 7% of the dollar weight of the Commodity or Currency Reference Asset, as the case may be. 3 Commodity Reference Asset is defined as one or more commodities, commodity futures, options or other commodity derivatives or Commodity-Based Trust Shares (as defined in Rule 1200A of the Company Guide) or a basket or index of any of the foregoing. *See* Section 107E of the Company Guide. 4 Currency Reference Asset if defined as one or more currencies, or options or currency futures or other currency derivatives or Currency Trust Shares (as defined in Rule 1200B of the Company Guide) or a basket or index of any of the foregoing. *See* Section 107F of the Company Guide. 5 E-mail from Candice Fordin, Assistant General Counsel, Amex, to Edward Cho, Special Counsel, Division of Market Regulation, Commission, dated September 20, 2007 (clarifying the proposed amendments to the generic listing standards for Commodity-Linked and Currency-Linked Securities). Commodity-Linked Securities are securities that provide for the payment at maturity of a cash amount based on the performance of the Commodity Reference Asset. Such securities may or may not provide for the repayment of the original principal investment amount. Under section 107E of the Company Guide, an issuance of Commodity-Linked Securities cannot be listed unless either: • The Commodity Reference Asset to which the security is linked shall have been reviewed and approved for the trading of Commodity Trust Shares or options or other derivatives by the Commission under section 19(b)(2) of the Act 6 and rules thereunder and the conditions set forth in the Commission's approval order, including with respect to comprehensive surveillance sharing agreements, continue to be satisfied; or 6 15 U.S.C. 78s(b)(2). • The pricing information for each component of a Commodity Reference Asset must be derived from a market which is a self-regulatory organization (“SRO”) member or affiliate member of the Intermarket Surveillance Group (“ISG”) or with which the Exchange has a comprehensive surveillance sharing agreement (“CSSA”); notwithstanding the foregoing, the pricing information for gold and silver bullion may be derived from the London Bullion Market Association. The Exchange proposes to amend the listing requirements relating to the source of pricing information for components of Commodity-Linked Securities. Specifically, the proposal seeks to permit the listing of such securities where a maximum of 10% of the dollar weight of the Commodity Reference Asset is comprised of components from markets that are not SRO members or affiliate members of ISG or with which the Exchange does not have a CSSA. In addition, no component subject to this exception may exceed 7% of the dollar weight of the Commodity Reference Asset. 7 7 *See supra* note 5. Currency-Linked Securities are securities that provide for the payment at maturity of a cash amount based on the performance of the Currency Reference Asset. Such securities may or may not provide for the repayment of the original principal investment amount. Under Section 107F of the Company Guide, an issuance of Currency-Linked Securities cannot be listed unless either: • The Currency Reference Asset to which the security is linked shall have previously reviewed and approved for the trading of Currency Trust Shares or options or other derivatives by the Commission under section 19(b)(2) of the Act and rules thereunder and the conditions set forth in the Commission's approval order, including with respect to comprehensive surveillance sharing agreements, continue to be satisfied; or • The pricing information for each component of a Currency Reference Asset must be:
(1)The generally accepted spot price for the currency exchange rate in question or
(2)derived from a market
(a)which is either an ISG SRO member or affiliate member or with which the Exchange has a CSSA and
(b)is the pricing source for components of a Currency Reference Asset that has previously been approved by the Commission. The Exchange proposes to amend the listing requirements relating to the source of pricing information for components of Currency-Linked Securities. Specifically, the proposal seeks to permit the listing of such securities where a maximum of 10% of the dollar weight of the Currency Reference Asset is comprised of components
(1)For which there is no generally accepted spot price,
(2)the pricing of which is derived from markets that are not SRO members or affiliate members of ISG or for which the Exchange does not have a CSSA, and
(3)the pricing source of which has not previously been approved by the Commission. 8 In addition, no component subject to this exception may exceed 7% of the dollar weight of the Currency Reference Asset. 8 *See id.* The Exchange states that many commodity and currency markets and exchanges are not SRO members or affiliates of ISG. In addition, the Exchange frequently experiences difficulty entering into CSSAs with such commodity and currency markets outside the United States. The Exchange believes, consistent with this proposal, that its surveillance procedures would not be materially hampered as long as it has access to trading information with respect to at least 90% of the dollar weight of the components comprising the Commodity Reference Asset or Currency Reference Asset, as the case may be. With respect to Commodity-Linked Securities, the pricing information for at least 90% of the dollar weight of the Commodity Reference Asset must be derived from ISG member markets or markets with which the Exchange has a CSSA. With respect to Currency-Linked Securities, the Exchange believes that the fact that up to 10% of the dollar weight of the Currency Reference Asset may be comprised of components
(1)The pricing information for which is not the generally accepted spot price,
(2)the pricing information for which is not derived from a SRO ISG member or affiliate or a market that is a party to a CSSA with the Exchange, or
(3)the pricing source of which has not been previously approved by the Commission, should not constitute a material risk to investors. The Exchange notes that the Commission has previously approved similar approaches to this proposal. 9 The Exchange states that the proposed amendment would provide Amex with greater flexibility to list Commodity-Linked and Currency-Linked Securities under Sections 107E and 107F of the Company Guide, respectively, and provide issuers with a faster and less cumbersome means of listing such securities, to the benefit of the investing public. 9 *See* Section 107D(g)(vi) of the Company Guide (permitting the inclusion of foreign country securities or American Depositary Receipts or “ADRs,” provided that such foreign country securities or foreign country securities underlying ADRs having their primary trading market outside the United States on foreign trading markets that are not members of ISG or are not parties to CSSAs with the Exchange will not, in the aggregate, represent more than 20% of the dollar weight of the underlying index. *See also* Commentary .06(b) to Amex Rule 915 (providing for exceptions to certain eligibility requirements for options trading where the underlying component securities of an index or portfolio are traded on foreign markets); Commentary .02(a)(10) to Amex Rule 901C (allowing the Exchange to trade options on a broad stock index group comprised of non-U.S. component securities as long as the non-U.S. component securities that are not subject to comprehensive surveillance agreements do not, in the aggregate, represent more than 20% of the weight of the index); and Commentary .03(a)(5) to Amex Rule 901C (permitting the listing of options on stock industry index groups comprised of foreign country securities or ADRs thereon, so long as such foreign country securities of ADRs that are not subject to comprehensive surveillance agreements do not, in the aggregate, represent more than 20% of the weight of the index). 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with section 6(b) of the Act, 10 in general, and section 6(b)(5) of the Act, 11 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, and to remove impediments to and perfect the mechanism of a free and open market and a national market system in a manner consistent with the protection of investors and the public interest. 10 15 U.S.C. 78f(b). 11 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purpose 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. 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-Amex-2007-102 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-Amex-2007-102. 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, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal offices 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-Amex-2007-102 and should be submitted on or before October 23, 2007. IV. Commission's Findings and Order Granting Accelerated Approval of the Proposed Rule Change After careful consideration, 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. 12 In particular, the Commission finds that the proposed rule change is consistent with the requirements of section 6(b)(5) of the Act, 13 which requires, among other things, that the Exchange's rules be 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 Commission believes that the Exchange's surveillance procedures would not be materially hampered as long as the Exchange has access to trading and pricing information of the underlying components that constitute at least 90% of the dollar weight of the Commodity Reference Asset or Currency Reference Asset, as the case may be. In addition, the Commission believes that so long as the pricing information for at least 90% of the dollar weight of the Commodity Reference Asset or Currency Reference Asset, as the case may be, is based on the general pricing information requirements, the proposed amendment to the Exchange's generic listing standards should not constitute a material risk to investors, while potentially benefiting investors by providing the Exchange flexibility to list a broader array of products. 12 In approving this proposed rule change, the Commission notes that it has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). 13 15 U.S.C. 78f(b)(5). The Commission finds good cause for approving the proposed rule change before the 30th day after the date of publication of notice of filing thereof in the **Federal Register** . The Commission notes that it has previously approved similar approaches to the instant proposal, where an underlying equity index may include foreign country securities or foreign country securities underlying American Depositary Receipts having their primary trading market outside the United States on foreign trading markets that are not members or affiliates of ISG or parties to CSSAs with the Exchange, as long as such securities do not, in the aggregate, represent more than 20% of the dollar weight of such underlying index. 14 The Commission further notes that it has approved a substantively identical proposed rule change for another national securities exchange. 15 The Commission believes that accelerated approval of the proposed rule change should expedite the listing and trading of additional Commodity-Linked Securities and Currency-Linked Securities, subject to the standards discussed herein, to the benefit of the investing public. Therefore, the Commission finds good cause, consistent with section 19(b)(2) of the Act, 16 to approve the proposed rule change on an accelerated basis. 14 *See supra* note 8. 15 *See* Securities Exchange Act Release No. 56525 (September 25, 2007) (SR-NYSE-2007-76) (approving the same amendments to the New York Stock Exchange LLC's generic listing standards for Commodity-Linked and Currency-Linked Securities). 16 15 U.S.C. 78s(b)(2). V. Conclusion *It is therefore ordered,* pursuant to section 19(b)(2) of the Act, 17 that the proposed rule change (SR-Amex-2007-102) be, and it hereby is, approved on an accelerated basis. 17 15 U.S.C. 78s(b)(2). 18 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 18 Nancy M. Morris, Secretary. [FR Doc. E7-19361 Filed 10-1-07; 8:45 am] BILLING CODE 8011-01-P df SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56525; File No. SR-NYSE-2007-76] Self-Regulatory Organizations; New York Stock Exchange LLC; Order Granting Accelerated Approval to Proposed Rule Change Relating to Requirements for the Listing and Trading of Commodity-Linked Securities and Currency-Linked Securities September 25, 2007. I. Introduction On August 22, 2007, the New York Stock Exchange LLC (“NYSE” 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 the generic listing standards for commodity-linked securities (“Commodity-Linked Securities”) and currency-linked securities (“Currency-Linked Securities”) under section 703.22 of the NYSE Listed Company Manual (“Manual”). The proposed rule change was published for comment in the **Federal Register** on September 6, 2007 for a 15-day comment period. 3 The Commission received no comments on the proposal. This order approves the proposed rule change on an accelerated basis. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 *See* Securities Exchange Act Release No. 56332 (August 29, 2007), 72 FR 51285 (“Notice”). II. Description of the Proposal The Exchange proposed to amend section 703.22(B)(II)(1)(b) and section 703.22(B)(III)(1)(b) of the Manual to permit the listing and trading of Commodity-Linked Securities and Currency-Linked Securities, respectively, where the underlying Commodity Reference Asset 4 or Currency Reference Asset, 5 as the case may be, may include components representing not more than 10% of the dollar weight of such Commodity Reference Asset or Currency Reference Asset, for which the pricing information is derived from markets which do not meet the general requirements of the respective rule, as described below. In addition, the Exchange proposed that no single component of a Commodity Reference Asset or Currency Reference Asset, as the case may be, subject to the foregoing proposed exception may exceed 7% of the dollar weight of such Commodity Reference Asset or Currency Reference Asset, as applicable. 4 Commodity Reference Asset is defined as one or more physical commodities or commodity futures, options or other commodity derivatives or Commodity Trust Shares (as defined in NYSE Rule 1300B) or a basket or index of any of the foregoing. *See* Section 703.22 of the Manual. 5 Currency Reference Asset is defined as one or more currencies, options or currency futures or other currency derivatives or Currency Trust Shares (as defined in NYSE Rule 1300A) or a basket or index of any of the foregoing. *See id* . Under section 703.22(B)(II)(1) of the Manual, an issuance of Commodity-Linked Securities currently cannot be listed unless either: • The Commodity Reference Asset to which the security is linked shall have been reviewed and approved for the trading of Commodity Trust Shares or options or other derivatives by the Commission under Section 19(b)(2) 6 of the Act and rules thereunder and the conditions set forth in the Commission's approval order, including with respect to comprehensive surveillance sharing agreements (“CSSAs”), continue to be satisfied; or 6 15 U.S.C. 78s(b)(2). • The pricing information for each component of a Commodity Reference Asset is derived from a market which is an Intermarket Surveillance Group (“ISG”) member or affiliate or with which the Exchange has a CSSA. Notwithstanding the previous sentence, pricing information for gold and silver may be derived from the London Bullion Market Association. Similarly, under section 703.22(B)(III)(1) of the Manual, an issuance of Currency-Linked Securities currently cannot be listed unless either: • The Currency Reference Asset to which the security is linked shall have been reviewed and approved for the trading of Currency Trust Shares or options or other derivatives by the Commission under Section 19(b)(2) of the Act and rules thereunder and the conditions set forth in the Commission's approval order, including with respect to CSSAs, continue to be satisfied; or • The pricing information for each component of a Currency Reference Asset must be
(1)The generally accepted spot price for the currency exchange rate in question or
(2)derived from a market which is
(a)An ISG member or affiliate or with which the Exchange has a CSSA and
(b)the pricing source for components of a Currency Reference Asset that has previously been approved by the Commission. The Exchange proposed to amend the requirements as to the source of pricing information for components of Commodity-Linked Securities and Currency-Linked Securities so as to permit the listing of such securities where a maximum of 10% of the dollar weight of the Commodity Reference Asset or Currency Reference Asset, as the case may be, is made up of components that do not meet the respective general pricing information requirements. In addition, the Exchange proposed that no single component subject to the proposed exception may exceed 7% of the dollar weight of the Commodity Reference Asset or Commodity Reference Asset, as the case may be. The Exchange stated that many commodity and currency markets are not members or affiliates of ISG, and the Exchange frequently experiences difficulty entering into CSSAs with such markets. The Exchange noted that the proposed amendment would provide the Exchange with greater flexibility to list securities under section 703.22 of the Manual that are linked to a broader range of underlying assets, such as commodities and currencies, thereby providing issuers with a faster and less cumbersome means of listing new Commodity-Linked Securities and Currency-Linked Securities and benefiting the investing public. III. Commission's Findings and Order Granting Accelerated Approval of the Proposed Rule Change After careful consideration, 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. 7 In particular, the Commission finds that the proposed rule change is consistent with the requirements of section 6(b)(5) of the Act, 8 which requires, among other things, that the Exchange's rules be 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 Commission believes that the Exchange's surveillance procedures would not be materially hampered as long as the Exchange has access to trading and pricing information of the underlying components that constitute at least 90% of the dollar weight of the Commodity Reference Asset or Currency Reference Asset, as the case may be. In addition, the Commission believes that so long as the pricing information for at least 90% of the dollar weight of the Commodity Reference Asset or Currency Reference Asset, as the case may be, is based on the general pricing information requirements, the proposed amendment to the Exchange's generic listing standards should not constitute a material risk to investors, while potentially benefiting investors by providing the Exchange flexibility to list a broader array of products. 7 In approving this proposed rule change, the Commission notes that it has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). 8 15 U.S.C. 78f(b)(5). The Commission finds good cause for approving the proposed rule change before the 30th day after the date of publication of notice of filing thereof in the **Federal Register** . The Commission notes that it has previously approved similar approaches to the instant proposal, including another provision in section 703.22 of the Manual permitting the listing of Equity Index-Linked Securities, 9 where the underlying equity index may include foreign country securities or foreign country securities underlying American Depositary Receipts having their primary trading market outside the United States on foreign trading markets that are not members or affiliates of ISG or parties to CSSAs with the Exchange, as long as such securities do not, in the aggregate, represent more than 20% of the dollar weight of such underlying index. 10 The Commission believes that accelerated approval of the proposed rule change should expedite the listing and trading of additional Commodity-Linked Securities and Currency-Linked Securities, subject to the standards discussed herein, to the benefit of the investing public. Therefore, the Commission finds good cause, consistent with section 19(b)(2) of the Act, 11 to approve the proposed rule change on an accelerated basis. 9 Equity Index-Linked Securities are defined as securities that provide for the payment at maturity of a cash amount based on the performance of an underlying index or indexes of equity securities. *See* Section 703.22 of the Manual. 10 *See* Section 703.22(B)(I)(2)(vii) of the Manual. *See also* Securities Exchange Act Release Nos. 55687 (May 1, 2007), 72 FR 25824 (May 7, 2007) (SR-NYSE-2007-27) (approving the generic listing and trading standards for Index-Linked Securities, including Equity Index-Linked Securities); and 54013 (June 16, 2006), 71 FR 36372 (June 26, 2006) (SR-NYSE-2006-17) (approving the listing and trading of shares of the iShares GSCI Commodity Indexed Trust and providing that, if a new component is added to the underlying index that constitutes more than 10% of the overall weight of the index and with whose principal trading market the Exchange does not have a comprehensive surveillance sharing agreement, the Exchange would seek to delist such shares). 11 15 U.S.C. 78s(b)(2). IV. Conclusion *It is therefore ordered,* pursuant to section 19(b)(2) of the Act, 12 that the proposed rule change (SR-NYSE-2007-76) be, and it hereby is, approved on an accelerated basis. 12 *Id.* For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 13 13 17 CFR 200.30-3(a)(12). Nancy M. Morris, Secretary. [FR Doc. E7-19362 Filed 10-1-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56535; File No. SR-Phlx-2007-59] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to a System Change to the Phlx's Electronic Options Trading Platform, Phlx XL September 26, 2007. 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 August 10, 2007, 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 substantially by the Phlx. The Exchange filed the proposal pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b-4(f)(5) 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)(5). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Phlx proposes to add a new feature to the Exchange's electronic options trading platform, Phlx XL, 5 that will automatically purge quotations submitted by specialists, Streaming Quote Traders (“SQTs”), 6 and Remote Streaming Quote Traders (“RSQTs”) 7 with a bid price of $0.00 and an offering price of $99,999.00. 5 *See* Securities Exchange Act Release No. 50100 (July 27, 2004), 69 FR 46612 (August 3, 2004) (order approving File No. SR-Phlx-2003-59). 6 An SQT is an Exchange Registered Options Trader (“ROT”) who has received permission from the Exchange to generate and submit option quotations electronically through an electronic interface with AUTOM via an Exchange-approved proprietary electronic quoting device in eligible options to which such SQT is assigned. *See* Phlx Rule 1014(b)(ii)(A). 7 An RSQT is a participant in Phlx XL who has received permission from the Exchange to trade in options for his own account, and to generate and submit option quotations electronically from off the floor of the Exchange through AUTOM in eligible options to which the RSQT has been assigned. The proposed rule change is available at the Phlx, in the Commission's Public Reference Room, and on the Phlx's Web site at *http://www.phlx.com.* 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 Phlx 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 Phlx 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 The purpose of the proposed rule change is to help Exchange members manage risk by adding a new mechanism to the Phlx XL system to purge certain electronic quotations. Members quoting and trading on Phlx XL currently have the ability to purge electronic quotations in specific options series under certain circumstances by sending the appropriate electronic message to Phlx XL. It has recently come to the Exchange's attention, however, that certain members do not have the ability to send a formatted “purge” message. Instead, such members that wish to remove their electronic quotations in a series submit an artificially wide quotation of $0.00 bid, $99,999.00 offered with the expectation that the Exchange will purge their quotation for the series. Currently, the Exchange does not purge such quotations. The Phlx believes that this could result in trading errors of great magnitude, necessitating nullification of such trades based on the Phlx's obvious error rule. 8 The Phlx believes that member organizations could be inconvenienced during the time period needed to investigate and correct the error, and could miss trading opportunities while their accounts are corrected. 8 *See* Phlx Rule 1092. To address this issue, the Exchange has built a feature of the Phlx XL system that will purge any electronic quotation received with a bid price of $0.00 and an offering price of $99,999.00. The Exchange believes that this will eliminate the substantial risk borne by the Exchange and its members in handling such quotations. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act, 9 in general, and furthers the objectives of Section 6(b)(5) of the Act, 10 in particular, in that it is designed to promote just and equitable principles of trade, 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 by enabling members to better manage risk through the automated quote purge feature. 9 15 U.S.C. 78f(b). 10 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The Phlx does not believe that the proposed rule change will impose any burden on competition 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 No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Phlx has filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act 11 and subparagraph (f)(5) of Rule 19b-4 thereunder. 12 Because the Phlx has designated the foregoing proposed rule change as one that effects a change in an existing order entry or trading system that does not:
(i)Significantly affect the protection of investors or the public interest;
(ii)impose any significant burden on competition; or
(iii)have the effect of limiting access to or availability of the system, it has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-4(f)(5) thereunder. 11 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 240.19b-4(f)(5). 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. 13 13 *See* 15 U.S.C. 78s(b)(3)(C). 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-Phlx-2007-59 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-Phlx-2007-59. 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, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Phlx. 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-Phlx-2007-59 and should be submitted on or before October 23, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 14 14 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-19398 Filed 10-1-07; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56526; File No. SR-Phlx-2007-67] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change as Modified by Amendment No. 1 Thereto Relating to XLE Fees September 25, 2007. 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 August 31, 2007, the Philadelphia Stock Exchange, Inc. (“Phlx” or the “Exchange”), filed with the Securities and Exchange Commission (the “Commission”) the proposed rule change as described in Items I, II, and III below, which Items have been substantially prepared by the Exchange. On September 20, 2007, Phlx filed Amendment No. 1 to the proposed rule change. The Exchange filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b-4(f)(2) 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 as amended 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)(2). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change Phlx proposes to amend the Exchange's current XLE 5 Fee Schedule to:
(1)Adopt definitions for Net Makers of liquidity (“Net Makers”) and Net Takers of liquidity (“Net Taker”) on XLE;
(2)update the current volume tier structure by reducing the volume breakpoints to create two new volume pricing tiers;
(3)amend the amount of the credits or rebates to Net Makers and the fees for Net Takers; and
(4)make two other minor changes to update the XLE Fee Schedule. 5 XLE refers to the Exchange's equity trading system. XLE is designed to provide the opportunity for entirely automated executions to occur within a central matching system accessible by Exchange members and member organizations and their Sponsored Participants. *See* Securities Exchange Act Release No. 54538 (September 28, 2006), 71 FR 59184 (October 6, 2006) (SR-Phlx-2006-43). The proposed fees will be assessed on Exchange members or member organizations, which may include Sponsoring Member Organizations 6 (collectively “member organizations”). 6 *See* Exchange Rules 1(jj) and 1(kk) (defining “Sponsored Participant” and “Sponsoring Member Organization”). The changes set forth in this proposal are scheduled to become operative beginning with transactions settling on or after September 4, 2007. The text of the proposed rule change is available at Phlx, the Commission's Public Reference Room, and *www.phlx.com.* II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, Phlx 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. Phlx 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 In an effort to enhance liquidity on XLE, the Exchange proposes to amend the XLE fee schedule to provide economic incentives to help attract additional order flow to the Exchange. The proposed amendments to the XLE Fee Schedule are discussed in detail below: i. Adopt Definitions for Net Makers and Net Takers An XLE Participant Organization 7 would qualify as a Net Maker if the total volume from providing liquidity for that XLE Participant Organization is at least one share greater than the total volume from removing liquidity during a single billing period. 8 Additionally, if in one month the total volume from providing liquidity is equivalent to the total volume from removing liquidity, the XLE Participant Organization would be considered a Net Maker for purposes of this proposal. 7 For purposes of this fee proposal, an XLE Participant Organization refers to Sponsored Participants, Sponsoring Member Organizations, and member organizations without Sponsored participants. *See* Exchange Rules 1(jj) and 1(kk). Sponsoring Member Organizations are responsible for the fees generated by their Sponsored Participant(s). 8 Currently, the Exchange assesses fees on a monthly calendar basis based on the settlement date of the transactions. For example, for the month of August, if an XLE Participant Organization's total volume from providing liquidity is 2 million shares executed and for that same month that XLE Participant Organization's total volume from removing liquidity was 1.5 million shares executed (total executed volume is therefore 3.5 million shares) that XLE Participant Organization would qualify as a Net Maker for that same month. Conversely, an XLE Participant Organization would qualify as a Net Taker if the total volume from removing liquidity for that XLE Participant Organization is at least one share greater than the total volume from providing liquidity during a single billing period. For example, for the month of August, if an XLE Participant Organization's total volume from removing liquidity is 3 million shares executed and for that same month, that XLE Participant Organization's total volume from providing liquidity was 2 million shares executed, that XLE Participant Organization would qualify as a Net Taker for that same month. Volume would be calculated based on volume generated from Maker (providing liquidity) or Taker (removing liquidity) executions, and volume from single-sided odd lot orders 9 executed on XLE against an XLE Participant. 10 Volume from the following transactions would not be included in determining Net Maker and Net Taker volumes: Immediate or Cancel (“IOC”) Cross 11 and Mid-Point Cross Orders 12 entered over technology provided by Phlx, 13 including odd lot IOC Cross and Mid-Point Cross Orders; all other IOC Cross and Mid-Point Cross Orders, including all other odd lot IOC Cross and Mid-Point Cross Orders; Single-sided odd lot orders executed at an away market; and volume from Routed Away Orders, referred to on the XLE Fee Schedule as “Fee for Routing Liquidity (Per Share Executed).” 9 An odd lot order means an order for less than a round lot, which is defined for purposes of XLE as a unit of trading that is 100 shares. *See* Exchange Rules 1(w) and 1(gg). 10 All odd lot transactions refer to those orders that are initially entered as odd lot orders. Fees for these types of transactions are set forth on the Exchange's XLE fee schedule under the heading Miscellaneous Transaction fees. 11 *See* Exchange Rules 185(c) and 185(c)(2). 12 *See* Exchange Rules 185(c) and 185(c)(1). 13 Phlx provides optional technology to XLE Participants for the entry of two-sided orders into XLE. Consistent with current practice, the Net Maker or Net Taker calculation will be determined separately per XLE Participant Organization. Volume generated from a Sponsored Participant's executions will accrete towards that Sponsored Participant's volume to determine whether Maker or Taker fees will be assessed, and not towards the Sponsoring Member Organization's volume. Once an XLE Participant Organization has been designated as a Maker or Taker for a specific month, all transactions that month would be subject to the fee that corresponds with whether the XLE Participant Organization is a Maker or Taker. 14 14 Securities executed on XLE with a per share price below $1.00 that remove liquidity, will continue to be charged 0.1% ( *i.e.* , 10 basis points) of total dollar value of the transaction. Consistent with current practice, there would be no credit for providing liquidity for shares with a per share price below $1.00. Executed volume in such shares will accrete towards the volume tier breakpoint (discussed below) and Maker/Taker category per XLE Participant Organization. ii. Update the Current Volume Tier Structure by Reducing the Volume Breakpoints To Create Two New Volume Pricing Tiers The Exchange also proposes to change the aggregate volume calculations and lower the current volume-based breakpoints to entice XLE Participant Organizations to generate additional trading activity. Currently, there are four volume tiers based on monthly shares executed. The total of monthly executed shares includes executions resulting from removing and providing liquidity on XLE and crosses executed on XLE, as well as shares executed when routed via XLE to an away trading center and executed on that away trading center. The existing fee schedule established four volume breakpoints based on the aggregate monthly shares executed with the last two tiers set at “greater than 50 million and less than or equal to 200 million shares executed” in one month and “greater than 200 million shares,” respectively. These levels have proven to be difficult for XLE Participant Organizations to reach. Therefore, the Exchange proposes to lower the volumes used in the volume-based tiers and to change the volume calculation from a monthly one to one based on average daily volume. The proposed two volume tiers would be as follows: Tier One would be comprised of volume of less than one million shares executed (average daily volume) and Tier Two would be comprised of volume of greater than or equal to one million shares executed (average daily volume). The proposed volume tiers would be determined by calculating the average daily volume of total shares executed (volume from providing liquidity and the volume from removing liquidity) during the applicable billing period. Consistent with calculating volume levels for Net Maker/Net Taker activity, the tier volume is calculated based on volume generated from Maker/Taker executions and volume from single-sided odd lot orders executed on XLE against an XLE Participant. To calculate the average daily shares executed, the total number of executed shares (comprised of liquidity provided, liquidity removed, and single-sided odd lot orders executed on XLE against an XLE Participant during the applicable billing period) would be divided by the number of trading days during the applicable billing period. For example, for a billing period with 20 trading days, if an XLE Participant Organization executed 23 million shares (comprised of 15 million executed shares from providing liquidity and 8 million shares from removing liquidity), the average daily volume is calculated by adding the liquidity provided (15 million executed shares), to the liquidity removed (8 million executed shares), which totals 23 million shares, and then dividing by 20 days (or applicable trading days in the month), which equals 1,150,000 average daily shares executed. Due to the lower volume tier breakpoint, the following transactions would not be included in determining the applicable volume tier breakpoints: 15 IOC Cross and Mid-Point Cross Orders entered over technology provided by Phlx, including odd lot IOC Cross and Mid-Point Cross Orders; all other IOC Cross and Mid-Point Cross Orders, including all other odd lot IOC Cross and Mid-Point Cross Orders; Single-sided odd lot orders executed at an away market; and volume from Routed Away Orders, referred to on the XLE Fee Schedule as “Fee for Routing Liquidity (Per Share Executed).” 15 These are the same requirements for determining Net Maker and Net Taker volumes. All volume calculations would be based settlement dates. Consistent with current practice, the total monthly shares will be calculated separately per XLE Participant Organization. Sponsored Participant executions will accrete towards that Sponsored Participant's volume tier and not towards the Sponsoring Member Organization's volume tier. Once a specific tier has been reached in a month, all transactions for that month would be subject to the fee that corresponds with that volume tier. iii. Amend the Amount of the Credits or Rebates to Net Makers and the Fees for Net Takers The Exchange is proposing to amend the Net Maker credits or rebates and Net Taker fees in an effort to balance the need to offer liquidity Makers sufficient economic incentives to participate on XLE (in the form of competitive “Maker” credit) and the need to earn sufficient transaction revenue from a business standpoint (in the form of liquidity taking fees). The Exchange proposes to adopt the following fees:
(1)For less than one million shares executed (average daily volume), the Net Maker fee for removing liquidity would be $0.0030 per share executed and the credit for providing liquidity would be $0.0025 per share executed; the Net Taker fee for removing liquidity would be $0.0030 per share executed and the credit for providing liquidity would be $0.0022 per share executed;
(2)for greater than or equal to one million shares executed (average daily volume), the Net Maker fee for removing liquidity would be $0.0024 per share executed and the credit for providing liquidity would be $0.0028 per share executed; the Net Taker fee for removing liquidity would be $0.0026 per share executed and the credit for providing liquidity would be $0.0024 per share executed. Consistent with current practice, the dollar value of the Net Maker credits would appear on the member organization's monthly invoice. The dollar amount of the excess credits would continue to be carried over into subsequent months or rebated to the applicable member organization as requested by the member organization. The purpose of this proposal is to attract more business by enticing Net Makers to the Exchange and by creating financial incentives to XLE Participant Organizations to encourage them to send additional order flow to the Exchange. The economics of the proposed fee schedule are focused around creating financial incentives to attract additional order flow to the Exchange while managing the risk associated with those financial incentives. The proposed changes to the XLE Fee Schedule are intended to stimulate liquidity and generate a reasonable return. iv. Additional Changes to the XLE Fee Schedule The Exchange also proposes to make the following two minor changes to the XLE fee Schedule:
(1)Under Miscellaneous Fees for “Execution Fee for Single-Sided Odd Lot Orders executed on XLE against another XLE Participant,” the Exchange proposes to change the word “another” to “an” to clarify that the same XLE Participant could be on both sides of the transaction; and
(2)delete the reference to Monthly Drop Copy Feed Fee. 16 Although there is no charge for this service, at this time the Exchange is not providing a Monthly Drop Copy Feed. 16 The Drop Copy Feed refers to real-time information concerning trades executed by an XLE Participant Organization. The purpose of the two minor changes is to clarify and update the XLE fee schedule to more accurately reflect the XLE fees being charged by the Exchange. The changes set forth in this proposal are scheduled to become operative beginning with transactions settling on or after September 4, 2007. 2. Statutory Basis The Exchange believes that its proposal to amend its schedule of fees is consistent with Section 6(b) of the Act 17 in general, and furthers the objectives of Section 6(b)(4) of the Act 18 in particular, in that it is an equitable allocation of reasonable fees and other charges among Exchange members. The Exchange believes that this proposal is equitable and reasonable in that it is designed to create financial incentives for all XLE Participant Organizations to encourage them to send additional order flow to the Exchange. This additional order flow should, in turn, stimulate additional transaction volume and liquidity at the Exchange. 17 15 U.S.C. 78f(b). 18 15 U.S.C. 78f(b)(4). 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 Written comments on the proposed rule change were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change is subject to Section 19(b)(3)(A)(ii) of the Act 19 and subparagraph (f)(2) of Rule 19b-4 thereunder 20 because it establishes or changes a due, fee, or other charge applicable only to a member imposed by a self-regulatory organization. Accordingly, the proposal is effective upon Commission receipt of the filing. 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. 21 19 15 U.S.C. 78s(b)(3)(A)(ii). 20 17 CFR 240.19b-4(f)(2). 21 For purposes of calculating the 60-day period within the Commission may summarily abrogate the proposed rule change under Section 19(b)(3)(C) of the Act, the Commission considers the period to commence on September 20, 2007, the date on which Phlx filed Amendment No. 1. *See* 15 U.S.C. 78s(b)(3)(C). 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-Phlx-2007-67 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-Phlx-2007-67. 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, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 am and 3 pm. Copies of such filing also will be available for inspection and copying at the principal office of Phlx. 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-Phlx-2007-67 and should be submitted on or before October 23, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 22 22 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-19404 Filed 10-1-07; 8:45 am] BILLING CODE 8011-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 11045] Idaho Disaster # ID-00005 Declaration of Economic Injury. AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a notice of an Economic Injury Disaster Loan
(EIDL)declaration for the State of Idaho, dated 09/25/2007. *Incident:* Central Idaho Wildland Fires. *Incident Period:* 07/07/2007 and Continuing. *Effective Date:* 09/25/2007. *EIDL Loan Application Deadline Date:* 06/25/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the Administrator's EIDL declaration, applications for economic injury disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties: Canyon: Idaho, Lemhi, Valley. Contiguous Counties: Idaho: Ada, Adams, Boise, Butte, Clark, Clearwater , Custer, Gem, Lewis, Nez Perce, Owyhee, Payette. Montana: Beaverhead, Missoula, Ravalli. Oregon: Malheur, Wallowa. The Interest Rate is: 4.000. The number assigned to this disaster for economic injury is 110450. The States which received an EIDL Declaration # are Idaho, Montana, Oregon. (Catalog of Federal Domestic Assistance Number 59002) Dated: September 25, 2007. Steven C. Preston, Administrator. [FR Doc. E7-19391 Filed 10-1-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 11044] Missouri Disaster # MO-00016 AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of Missouri (FEMA-1728-DR), dated 09/21/2007. *Incident:* Severe Storms and Flooding. *Incident Period:* 08/19/2007 through 08/21/2007. *Effective Date:* 09/21/2007. *Physical Loan Application Deadline Date:* 11/20/2007. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing And Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the President's major disaster declaration on 09/21/2007, Private Non-Profit organizations that provide essential services of a governmental nature may file disaster loan applications at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties: Dade, Dallas, Greene, Laclede, Lawrence, Polk, Webster. The Interest Rates are: Percent Other (Including Non-Profit Organizations) With Credit Available Elsewhere 5.250 Businesses And Non-Profit Organizations Without Credit Available Elsewhere 4.000 The number assigned to this disaster for physical damage is 11044. (Catalog of Federal Domestic Assistance Number 59008) James E. Rivera, Acting Associate Administrator for Disaster Assistance. [FR Doc. E7-19395 Filed 10-1-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 11043] Montana Disaster # MT-00024 Declaration of Economic Injury AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a notice of an Economic Injury Disaster Loan
(EIDL)declaration for the state of Montana, dated 09/25/2007. *Incident:* Wildland Fires. *Incident Period:* 07/21/2007 and continuing. *Effective Date:* 09/25/2007. *EIDL Loan Application Deadline Date:* 06/25/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing And Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the Administrator's EIDL declaration, applications for economic injury disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties: Lewis and Clark, Missoula. Contiguous Counties: Montana: Broadwater, Cascade, Flathead, Granite, Jefferson, Lake, Meagher, Mineral, Powell, Ravalli, Sanders, Teton. Idaho: Clearwater, Idaho. The Interest Rate is: 4.000. The number assigned to this disaster for economic injury is: 110430. The States which received an EIDL Declaration # are Montana, Idaho. (Catalog of Federal Domestic Assistance Number 59002) Steven C. Preston, Administrator. [FR Doc. E7-19397 Filed 10-1-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10927 and # 10928] Oklahoma Disaster Number OK-00012 AGENCY: U.S. Small Business Administration. ACTION: Amendment 7. SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of Oklahoma (FEMA-1712-DR), dated 07/07/2007. *Incident:* Severe Storms, Flooding, and Tornadoes. *Incident Period:* 06/10/2007 through 07/25/2007. *Effective Date:* 09/24/2007. *Physical Loan Application Deadline Date:* 11/05/2007. *EIDL Loan Application Deadline Date:* 04/07/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the President's major disaster declaration for the State of Oklahoma, dated 07/07/2007 is hereby amended to extend the deadline for filing applications for physical damages as a result of this disaster to 11/05/2007. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E7-19390 Filed 10-1-07; 8:45 am] BILLING CODE 8025-01-P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Air Traffic Procedures Advisory Committee AGENCY: Federal Aviation Administration (FAA), DOT. ACTION: Notice of public meeting. SUMMARY: The FAA is issuing this notice to advise the public that a meeting of the Federal Aviation Administration Air Traffic Procedures Advisory Committee (ATPAC) will be held to review present air traffic control procedures and practices for standardization, revision, clarification, and upgrading of terminology and procedures. DATES: The meeting will be held Monday, October 29, 2007, from 9 a.m. to 4:30 p.m.; Tuesday, October 30, 2007, from 9 a.m. to 4:30 p.m.; and Wednesday, October 31, 2007, from 9 a.m. to 4:30 p.m. ADDRESSES: The meeting will be held at the Marriott Wardman Park Hotel, McKinley Room, 2660 Woodley Road, NW., Washington, DC 20008. FOR FURTHER INFORMATION CONTACT: Mr. Richard Jehlen, Executive Director, ATPAC, 800 Independence Avenue, SW., Washington, DC 20591, telephone
(202)493-4527. SUPPLEMENTARY INFORMATION: Pursuant to Section 10(a)(2) of the Federal Advisory Committee Act (Pub. L. 92-463; 5 U.S.C. App. 2), notice is hereby given of a meeting of the ATPAC to be held Monday, October 29, 2007, from 9 a.m. to 4:30 p.m.; Tuesday, October 30, 2007, from 9 a.m. to 4:30 p.m.; and Wednesday, October 31, 2007, from 9 a.m. to 4:30 p.m. The agenda for this meeting will cover a continuation of the Committee's review of present air traffic control procedures and practices for standardization, revision, clarification, and upgrading of terminology and procedures. It will also include: 1. Approval of Minutes; 2. Submission and Discussion of Areas of Concern; 3. Discussion of Potential Safety Items; 4. Report from Executive Director; 5. Items of Interest; and 6. Discussion and agreement of location and dates for subsequent meetings. Attendance is open to the interested public but limited to space available. With the approval of the Executive Director, members of the public may present oral statements at the meeting. Persons desiring to attend and persons desiring to present oral statement should notify the person listed above no later than October 19, 2007. The next quarterly meeting of the FAA ATPAC is scheduled for January 15-17, 2008, in Washington, DC. Any member of the public may present a written statement to the Committee at any time at the address given above. Issued in Washington, DC, on September 25, 2007. Richard Jehlen, Executive Director, Air Traffic Procedures Advisory Committee. [FR Doc. E7-19413 Filed 10-1-07; 8:45 am] BILLING CODE 4910-13-P DEPARTMENT OF TRANSPORTATION Federal Highway Administration Interoperability Requirements, Standards, or Performance Specifications for Automated Toll Collection Systems; Public Meeting AGENCY: Federal Highway Administration (FHWA); DOT. ACTION: Notice of public meeting. SUMMARY: On September 20, 2007, the FHWA published its Notice of Proposed Rulemaking
(NPRM)in the **Federal Register** at 72 FR 53736. This publication announced a public meeting on October 11, 2007, to discuss the NPRM. In response to comments received, the FHWA has decided to hold an additional public meeting on October 18, 2007, at 1:30 p.m. All interested persons are invited to offer views at these two public meetings. DATES: The first public meeting will be held on October 11, 2007, beginning at 1:30 p.m. The second public meeting will be held on October 18, 2007, beginning at 1:30 p.m. ADDRESSES: Both public meetings will be held at the U.S. Department of Transportation headquarters conference center, 1200 New Jersey Avenue, SE., Washington, DC 20590. FOR FURTHER INFORMATION CONTACT: For technical questions or information about this notice of proposed rulemaking, contact Mr. Robert Rupert, FHWA Office of Operations,
(202)366-2194. For legal questions, please contact Mr. Michael Harkins, Attorney Advisor, FHWA Office of the Chief Counsel,
(202)366-4928, Federal Highway Administration, 1200 New Jersey Avenue, SE., Washington, DC 20590. Office hours for the FHWA are from 7:45 a.m. to 4:15 p.m., e.t., Monday through Friday, except Federal holidays. SUPPLEMENTARY INFORMATION: Background On September 20, 2007, the FHWA published its NPRM in the **Federal Register** at 72 FR 53736. As required under section 1604(b)(6) of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU), the proposed rule specifies the interoperability requirements for automated toll collection systems for the facilities that are tolled under any of the tolling programs contained in section 1604 of SAFETEA-LU. Specifically, this NPRM proposes to require facilities operating with authority under section 1604 of SAFETEA-LU to use electronic toll collection systems and for these systems to address their interoperability with other toll facilities. Although a nationwide interoperability standard has not yet been established, the proposed rule seeks to accelerate progress toward achieving nationwide interoperability by requiring these facilities to upgrade their electronic toll collection systems to the national standards whenever adopted. The September 20, 2007, notice announced a public meeting on October 11, 2007, to discuss the NPRM. In response to comments received, the FHWA has decided to hold an additional public meeting on October 18, 2007. Public Meetings The public meetings will be held at the address listed above. The FHWA invites participation in these meetings by all those interested in the above noted NPRM. Written submissions are welcome, although not required for participation. The FHWA expects each meeting to last approximately three hours. No pre-registration is required for participation. Issued on: September 26, 2007. Anthony Furst, Acting Associate Administrator for Operations. [FR Doc. E7-19409 Filed 10-1-07; 8:45 am] BILLING CODE 4910-22-P DEPARTMENT OF TRANSPORTATION Federal Railroad Administration Draft Bay Area to Central Valley High-Speed Train Programmatic Environmental Impact Report/Environmental Impact Statement AGENCY: Federal Railroad Administration (FRA), U.S. Department of Transportation (DOT). ACTION: Notice of extension of draft environmental impact statement comment period. SUMMARY: On July 2, 2007, FRA approved for release and agency and public review the Draft Program Environmental Impact Report/Environmental Impact Statement (EIR/EIS) for the Bay Area to Central Valley portion of the California High Speed Rail Authority's (Authority) proposed High Speed Train Program for the State of California. FRA is the lead federal agency on the environmental review in accordance with the National Environmental Policy Act
(NEPA)and the Authority is the project sponsor and lead agency for the California Environmental Quality Act review. In releasing the Draft Program EIR/EIS, FRA and the Authority established a 70-day public comment period that was scheduled to end on September 28, 2007. The public was notified of the 70-day comment period through a variety of avenues, including newspaper publications, information included on both agencies' Web sites, at public hearings held throughout the affected area, and through the U.S. Environmental Protection Agency's weekly **Federal Register** publication (72 FR 39808, July 20, 2007), which noted the availability of the Draft Program EIR/EIS, identified as EIS No. 20070303. At its September 26, 2007 board meeting, the Authority considered a number of public requests to extend the comment period and decided to accept comments until noon on October 26, 2007. FRA agrees with the Authority that this extension will facilitate public participation and is extending the comment period for NEPA purposes to October 26, 2007 as well. DATES: The comment period on the Draft Bay Area to Central Valley HST Program EIR/EIS is extended until October 26, 2007. ADDRESSES: Comments may be submitted to the California High-Speed Rail Authority, EIR/EIS Comments, 925 L Street, Suite 1425, Sacramento, CA 95814. FOR FURTHER INFORMATION CONTACT: For further information regarding the programmatic environmental review, please contact: Mr. Dan Leavitt, Deputy Director of the California High-Speed Rail Authority, 925 L Street, Suite 1425, Sacramento, CA 95814 (telephone 916-324-1541); or Mr. David Valenstein, Environmental Program Manager, Office of Passenger Programs, Federal Railroad Administration, 1120 Vermont Avenue (Mail Stop 20), Washington, DC 20590 (telephone 202-493-6368). SUPPLEMENTARY INFORMATION: More information about the proposed HST system, the first-tier Program EIR/EIS addressing the HST system and the Draft Bay Area to Central Valley HST EIS are available at *http://www.cahighspeedrail.ca.gov.* Issued in Washington, DC, on September 26, 2007. Mark E. Yachmetz, Associate Administrator for Railroad Development. [FR Doc. 07-4854 Filed 9- 27-07; 1:10 pm]
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- Pub. L. 94-409
- 309 F.2d 647
- 17 CFR 240.19
- Pub. L. 92-463
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Notices
Notice of application to amend a prior order under section 6(c) of the Investment Company Act of 1940 (“Act”) for an exemption from sections 2(a)(32), 5(a)(1), 22(d), 22(e) and 24(d) of the Act and rule 22c-1 under the Act, under sections 6(c) and 17(b) of the Act for an exemption from sections 17(a)(1) and (a)(2) of the Act, and under section 12(d)(1)(J) for an exemption from sections 12(d)(1)(A) and (B) of the Act
F. App'x309 F.2d 647
Pub. L.Pub. L. 94-409
Cite17 CFR 240.19
Cites 14 · showing 12Cited by 0 across 0 sources