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Federal Register / Vol. 68, No.

108 / Thursday, June 5, 2003 / Notices 33755

antifraud provisions)6 and from the III. Date of Effectiveness of the For the Commission, by the Division of
registration provisions of the Act. Proposed Rule Change and Timing for Market Regulation, pursuant to delegated
Commission Action authority.14
On January 2, 2003, final Commission
Margaret H. McFarland,
rules became effective regarding Because, the foregoing proposed rule
Deputy Secretary.
whether standardized options should be change (1) does not significantly affect
registered with the Commission under the protection of investors or the public [FR Doc. 03–14172 Filed 6–4–03; 8:45 am]
the Securities Act or the Act.7 In this interest; (2) does not impose any BILLING CODE 8010–01–P

release, the Commission concluded that significant burden on competition; and


standardized options issued by (3) by its terms, does not become
registered clearing agencies, such as the operative until 30 days from the date on DEPARTMENT OF STATE
OCC, and traded on a registered national which it was filed, or such shorter time
securities exchange or a registered as the Commission may designate if [Public Notice 4379]
national securities association, shall be consistent with the protection of
exempt from all provisions of the investors and the public interest, and Culturally Significant Objects Imported
Securities Act (other than the anti-fraud the exchange provided the Commission for Exhibition Determinations: ‘‘Small
provisions) and shall be exempt from with written notice of its intent to file Wonders: Dutch Still Lifes by Adriaen
the registration requirements of the Act. the proposed rule change at least five Coorte’’
Given this recent development, there business days prior to the date of filing AGENCY: Department of State.
is no longer a need for the delivery of of the proposed rule change,11 it has ACTION: Notice.
OCC Prospectuses to options customers become effective pursuant to section
on request pursuant to Phlx Rule 19(b)(3)(A) of the Act 12 and Rule 19b– SUMMARY: Notice is hereby given of the
1029(b). Other references to a 4(f)(6) thereunder.13 following determinations: Pursuant to
‘‘prospectus’’ in connection with At any time within 60 days of the the authority vested in me by the Act of
options trading on the Exchange are no filing of this proposed rule change, the October 19, 1965 (79 Stat. 985; 22 U.S.C.
longer necessary. These changes do not Commission may summarily abrogate 2459), Executive Order 12047 of March
affect the requirement that an Options such rule change if it appears to the 27, 1978, the Foreign Affairs Reform and
Disclosure Document be delivered to Commission that such action is Restructuring Act of 1998 (112 Stat.
customers of members and member necessary or appropriate in the public 2681, et seq.; 22 U.S.C. 6501 note, et
organizations at the time such interest, for the protection of investors, seq.), Delegation of Authority No. 234 of
customer’s account is approved to trade or otherwise in furtherance of the October 1, 1999, and Delegation of
options.8 purposes of the Act. Authority No. 236 of October 19, 1999,
IV. Solicitation of Comments as amended, I hereby determine that the
2. Statutory Basis objects to be included in the exhibition
Interested persons are invited to ‘‘Small Wonders: Dutch Still Lifes by
The Exchange believes that the submit written data, views, and Adriaen Coorte,’’ imported from abroad
proposed rule change is consistent with arguments concerning the foregoing, for temporary exhibition within the
section 6(b) of the Act 9 in general, and including whether the proposed rule United States, are of cultural
furthers the objectives of section 6(b)(5) change is consistent with the Act. significance. The objects are imported
of the Act 10 in particular, in that it is Persons making written submissions pursuant to loan agreements with the
designed to facilitate transactions in should file six copies thereof with the foreign owners. I also determine that the
securities, and to remove impediments Secretary, Securities and Exchange exhibition or display of the exhibit
to and perfect the mechanism of a free Commission, 450 Fifth Street, NW., objects at the National Gallery of Art,
and open market and a national market Washington, DC 20549–0609. Copies of Washington, DC, from on or about June
system. the submission, all subsequent 29, 2003, to on or about September 28,
B. Self-Regulatory Organization’s amendments, all written statements 2003, and at possible additional venues
Statement on Burden on Competition with respect to the proposed rule yet to be determined, is in the national
change that are filed with the interest. Public Notice of these
The Exchange does not believe that Commission, and all written Determinations is ordered to be
the proposed rule change will impose communications relating to the published in the Federal Register.
any inappropriate burden on proposed rule change between the
FOR FURTHER INFORMATION CONTACT: For
competition. Commission and any person, other than
those that may be withheld from the further information, including a list of
C. Self-Regulatory Organization’s the exhibit objects, contact Julianne
public in accordance with the
Statement on Comments on the Simpson, Attorney-Adviser, Office of
provisions of 5 U.S.C. 552, will be
Proposed Rule Change Received From the Legal Adviser, U.S. Department of
available for inspection and copying in
Members, Participants, or Others State, (telephone: 202/619–6529). The
the Commission’s Public Reference
Section. Copies of such filing will also address is U.S. Department of State, SA–
Written comments were neither 44, 301 4th Street, SW., Room 700,
solicited nor received with respect to be available for inspection and copying
at the principal office of the Phlx. All Washington, DC 20547–0001.
the proposed rule change.
submissions should refer to File No. Dated: May 27, 2003.
6 On January 10, 2003, the OCC filed a post- SR–Phlx–2003–22 and should be C. Miller Crouch,
effective amendment to its registration statement submitted by June 26, 2003. Principal Deputy Assistant Secretary for
under the Securities Act to remove from registration Educational and Cultural Affairs, Department
all put and call options that remain unsold as of the 11 See e-mail from Mark Salvacion, Director and of State.
date of the post-effective amendment. Counsel, Phlx, to Frank N. Genco, Attorney,
7 See supra note 4.
[FR Doc. 03–14183 Filed 6–4–03; 8:45 am]
Division of Market Regulation, Commission, dated
8 See Phlx Rule 1029(a). April 30, 2003. BILLING CODE 4710–08–P
9 15 U.S.C. 78f(b). 12 15 U.S.C. 78s(b)(3)(A).
10 15 U.S.C. 78f(b)(5). 13 17 CFR 240.19b–4(f)(6). 14 17 CFR 200.30–3(a)(12).

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