[Federal Register: July 15, 2004 (Volume 69, Number 135)]
[Notices]
[Page 42489-42490]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15jy04-112]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-49988; File No. SR-NYSE-2004-07]
Self-Regulatory Organizations; New York Stock Exchange, Inc.;
Order Granting Approval to Proposed Rule Change and Amendment No. 1
Thereto Relating to the Listed Company Manual's Requirement That
Companies Make Certain Paper Filings
July 8, 2004.
On February 10, 2004, the New York Stock Exchange, Inc. (``NYSE''
or ``Exchange'') filed with the Securities and Exchange Commission
(``Commission'' or ``SEC''), 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 NYSE Listed Company
Manual to clarify that the Exchange will no longer require issuers to
submit hard copies of Commission
[[Page 42490]]
Form 8-K \3\ filings. Accordingly, the NYSE proposes only to require
issuers to file, pursuant to the NYSE Listed Company Manual, hard
copies of materials that are necessary to support a listing application
and proxy materials. In addition, the NYSE proposes to amend the NYSE
Listed Company Manual to require issuers to file paper versions of SEC
Form 6-K \4\ that are not required to be filed through the Commission's
Electronic Data Gathering, Analysis, and Retrieval (``EDGAR'') system.
On May 10, 2004, NYSE submitted Amendment No. 1 to the proposed rule
change.\5\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 17 CFR 249.308.
\4\ 17 CFR 249.306.
\5\ See Letter from Darla C. Stuckey, Corporate Secretary, NYSE,
to Nancy J. Sanow, Assistant Director, Division of Market Regulation
(``Division''), Commission, dated May 7, 2004 (``Amendment No. 1'').
Amendment No. 1 replaced and superceded the original filing in its
entirety.
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The proposed rule change, as amended, was published for comment in
the Federal Register on May 24, 2004.\6\ The Commission received no
comments on the proposal.
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\6\ See Securities Exchange Act Release No. 49714 (May 17,
2004), 69 FR 29608.
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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\ and, in
particular, the requirements of Section 6 of the Act \8\ and the rules
and regulations thereunder. The Commission finds specifically that the
proposed rule change is consistent with Section 6(b)(5) of the Act \9\
in that the proposal is designed to prevent fraudulent and manipulative
acts and practices, 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.
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\7\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. 15 U.S.C. 78c(f).
\8\ 15 U.S.C. 78f.
\9\ 15 U.S.C. 78f(b)(5).
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The Commission believes that the proposal should streamline filing
requirements and eliminate duplicative filings. The Commission notes
that the Exchange currently accepts and accesses all materials filed by
issuers with the Commission on the Commission's EDGAR system except
materials necessary to support a listing application, proxy materials,
and SEC Form 8-K \10\ filings.\11\ Since the Exchange currently accepts
and accesses other materials filed by issuers on the EDGAR system and
has recently implemented a system that provides electronic notification
that an issuer has filed a Form 8-K \12\ or Form 6-K \13\ and flags and
routes such filings to the appropriate NYSE representative, the
Commission believes the Exchange will be able to continue to fulfill
its regulatory responsibilities with regard to its issuers.
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\10\ 17 CFR 249.308.
\11\ See NYSE Listed Company Manual, Section 204.00(B); see also
Letter to NYSE from Ann M. Krauskopf, Special Counsel, Division of
Corporation Finance, and Howard L. Kramer, Senior Associate
Director, Division, Commission, dated July 22, 1998 (providing no-
action relief from certain requirements to file paper copies).
\12\ 17 CFR 249.308.
\13\ 17 CFR 249.306.
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It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\14\ that the proposed rule change (File No. SR-NYSE-2004-07), as
amended, be, and hereby is, approved.
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\14\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-16047 Filed 7-14-04; 8:45 am]
BILLING CODE 8010-01-P