NYSE Branch Office Approval

The Self-Regulatory and Supervisory Practices Committee of SIFMA provides comments to the Securities and Exchange Commission (SEC) on amendments to New York Stock Exchange (NYSE) Rules 342(c) and 343(d) on branch office approval, Release No. 34-56143, SR–NYSE-2007-59.  The amendments would change NYSE Rule 342(c) to eliminate the prior consent requirement in the branch office approval process and replace it with a notice provision consistent with the NASD standard.  In addition, the amendments would delete NYSE Rule 343(d) to eliminate the requirement that member organizations display an Exchange-provided “certificate of membership” at all branch office locations.  SIFMA requests the SEC approve the amendments as quickly as possible.