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[Federal Register: October 1, 2001 (Volume 66, Number 190)]
[Proposed Rules]               
[Page 49877]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01oc01-25]                         

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Proposed Rules
                                                Federal Register
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This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

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[[Page 49877]]


SECURITIES AND EXCHANGE COMMISSION

17 CFR PART 240

[Release No. 34-44845; File No. S7-14-01]
RIN 3235-AI23

 
Request for Comment on the Effects of Decimal Trading in 
Subpennies; Extension of Comment Period

AGENCY: Securities and Exchange Commission.

ACTION: Concept release; extension of comment period.

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SUMMARY: The Securities and Exchange Commission (``Commission'') 
published in the Federal Register on July 24, 2001 (66 FR 38390) a 
concept release seeking comment on the impact on fair and orderly 
markets and investor protection of trading and potentially quoting 
securities in an increment of less than a penny. The original comment 
period ended September 24, 2001. The new deadline for submitting public 
comments is November 23, 2001.

DATES: Comments must be received on or before November 23, 2001.

ADDRESSES: Persons wishing to submit written comments should send three 
copies to Jonathan G. Katz, Secretary, Securities and Exchange 
Commission, 450 Fifth Street, NW., Washington, DC 20549-0609. Comments 
also may be submitted electronically at the following E-mail address: 
<A HREF="mailto:rule-comments@sec.gov">rule-comments@sec.gov</A>. All comment letters should refer to File No. S7-
14-01. Comments submitted by E-mail should include this file number in 
the subject line. Comment letters received will be available for public 
inspection and copying in the Commission's Public Reference Room, 450 
Fifth Street, NW., Washington, DC 20549. Electronically submitted 
comment letters will be posted on the Commission's Internet web site 
(<A HREF="http://frwebgate.access.gpo.gov/cgi-bin/leaving.cgi?from=leavingFR.html&log=linklog&to=http://www.sec.gov">http://www.sec.gov</A>).\1\
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    \1\ Personal identifying information, such as names or e-mail 
addresses, will not be edited from electronic submission. Submit 
only information that you wish to make publicly available.

FOR FURTHER INFORMATION CONTACT: Any of the following attorneys in the 
Division of Market Regulation, Securities and Exchange Commission, 450 
Fifth Street, NW., Washington, DC 20549-1001: James Brigagliano, Jo 
Anne Swindler, Gregory Dumark, or Kevin Campion at (202) 942-0772; 
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Alton Harvey, Patrick Joyce, or John Roeser at (202) 942-0154.

SUPPLEMENTARY INFORMATION: On July 24, 2001, the Commission published 
in the Federal Register a concept release seeking comment on the 
effects of subpenny prices on market transparency, on the operation and 
effectiveness of Commission and self-regulatory organizations rules 
that are dependent on trading or quoting price differentials, and on 
automated systems.\2\ The deadline for submitting public comments 
established by the concept release was September 24, 2001. In view of 
the market disruption caused by the attacks of September 11, 2001, and 
in response to requests from commenters for more time to address the 
issues raised in the concept release, the Commission believes that it 
is appropriate to extend the comment period to November 23, 2001.\3\
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    \2\ Securities Exchange Act Release No. 44568 (July 17, 2001), 
66 FR 38390 (July 24, 2001).
    \3\ Commenters may wish to review the reports on decimal 
implementation recently filed with the Commission by the Exchanges 
and the NASD, which provide some data and discussion of subpenny 
market activity. The reports are in File No. 4-430.

    By the Commission.
    Dated: September 25, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-24470 Filed 9-28-01; 8:45 am]
BILLING CODE 8020-01-P

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