[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