03-22089. Self-Regulatory Organizations; The New York Stock Exchange, Inc.; Order Granting Approval of Proposed Rule Change and Amendment No. 1 Thereto To Amend the Interpretation of NYSE Rule 345A

August 22, 2003.

On December 16, 2002, the New York Stock Exchange, Inc. (“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 its interpretation of NYSE Rule 345A (“Continuing Education for Registered Persons”). On June 11, 2003, the Exchange amended the proposed rule change.

The proposed rule change, as amended, was published for comment in the Federal Register on July 17, 2003.^[3] The Commission received no comments on the proposal.

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 ^[4] and, in particular, the requirements of Section 6 of the Act ^[5] and the rules and regulations thereunder. The Commission finds specifically that the proposed rule change is consistent with Section 6(c)(3)(A) ^[6] of the Act, which requires the Exchange to prescribe standards of training, experience and competence for persons associated with Exchange members and member organizations.

It Is Therefore Ordered, pursuant to Section 19(b)(2) of the Act,^[7] that the proposed rule change (SR-NYSE-2002-64) be, and it hereby is, approved.

For the Commission, by the Division of Market Regulation, pursuant to delegated authority.^[8]

Margaret H. McFarland,

Deputy Secretary.

Footnotes

1.  15 U.S.C. 78s(b)(1).

2.  17 CFR 240.19b-4.

3.  See Securities Exchange Act Release No. 48159 (July 17, 2003), 68 FR 42447.

4.  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).

5.  15 U.S.C. 78f.

6.  15 U.S.C. 78f(c)(3)(A)(i).

7.  15 U.S.C. 78s(b)(2).

8.  17 CFR 200.30-3(a)(12).