[Federal Register Volume 60, Number 140 (Friday, July 21, 1995)]
[Notices]
[Pages 37699-37700]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-17994]
-----------------------------------------------------------------------
[[Page 37700]]
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-35977; File No. SR-MBS-95-03]
Self-Regulatory Organizations; MBS Clearing Corporation; Notice
of Filing and Immediate Effectiveness of Proposed Rule Change Modifying
MBS Clearing Corporation's Schedule of Charges for Hardcopy Output of
Reports
July 17, 1995.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on June 5, 1995, the MBS
Clearing Corporation (``MBS'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change (File No. SR-MBS-
95-03) as described in Items I, II, and III below, which Items have
been prepared primarily by MBS. 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) (1988).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The proposed rule change modifies MBS's Schedule of Charges for
hardcopy output of reports.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, MBS 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. MBS has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of such
statements.\2\
\2\ The Commission has modified the language in these sections.
---------------------------------------------------------------------------
(A) Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
The purpose of the proposed rule change is to modify MBS's Schedule
of Charges for hardcopy output of reports. MBS currently charges its
participants $.10 per page for requests for hardcopy output of reports
from microfiche and the Securities Industry Automation Corporation
(``SIAC''). The proposed rule change increases MBS's fee for requests
for hardcopy output from microfiche from $.10 per page to $1.00 per
page. The new fee more accurately reflects the costs incurred by MBS to
provide hardcopy output from microfiche. The fee for hardcopy output
from SIAC, however, will remain unchanged at $.10 per page.
MBS believes that the proposed rule change is consistent with
Section 17A(b)(3)(D) of the Act \3\ and the rules and regulations
thereunder in that it provides for the equitable allocation of
reasonable dues, fees, and other charges among its participants.
\3\ 15 U.S.C. 78q-1(b)(3)(D) (1988).
---------------------------------------------------------------------------
(B) Self-Regulatory Organization's Statements on Burden on Competition
MBS does not believe that the proposed rule change will have an
impact on or impose a burden on competition.
(C) Self-Regulatory Organization's Statement on Comments on the
Proposed Rule Change Received From Members, Participants, or Others
No written comments relating to the proposed rule change have been
solicited or received. MBS will notify the Commission of any written
comments received by MBS.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act \4\ and pursuant to Rule 19b-4(e)(2)
promulgated thereunder\5\ because the proposed rule change establishes
a due, fee, or other charge imposed by MBS. At any time within sixty
days of the filing of such rile change, the Commission may summarily
abrogate such rule change if it appears to the Commission that such
action is necessary or appropriate in the pubic interest, for the
protection of investors, or otherwise in furtherance of the purposes of
the Act.
\4\ 15 U.S.C. 78s(b)(3)(A)(ii) (1988).
\5\ 17 CFR 240.19b-4(e)(2) (1994).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing. Persons making written submissions
should file six copies thereof with the Secretary, Securities and
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549.
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. Sec. 552, will be available for inspection and copying in
the Commission's Public Reference Section, 450 Fifth Street, NW.,
Washington, DC 20549. Copies of such filing will also be available for
inspection and copying at the principal office of MBS. All submissions
should refer to File No. SR-MBS-95-03 and should be submitted by August
11, 1995.
For the Commission by the Division of Market Regulation,
pursuant to delegated authority.\6\
\6\ 17 CFR 200.30-3(a)(12) (1994).
---------------------------------------------------------------------------
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-17994 Filed 7-20-95; 8:45 am]
BILLING CODE 8010-01-M
