The Securities and Exchange Commission has approved the
request of the New York Stock Exchange, Inc. (the “Exchange”) to
amend Rule 476A, “List of Exchange Rule Violations and Fines” to
include Rule 103.12. Effective as of October 9, 2005, Rule 103.12
requires specialists and specialist organizations to record and
report the actual time individuals spend working in their capacity
as a specialist or specialist clerk while on the Floor of the
Exchange in their firm’s own records and in IDTrackSM.
Members are advised that effective
immediately, failure to comply with Rule 103.12 may subject the
specialists, specialist organizations and specialist clerks who do
not comply with Rule 103.12 to the imposition of a fine, pursuant to
Exchange Rule 476A, or other discipline in accordance with Exchange
Rules as appropriate.
Questions
concerning this memo may be directed to Donald Siemer, Director,
Market Surveillance, at (212)
656-6940.
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