On October 6th, the SEC amended its rules to delegate authority to the Director of the Division of Trading and Markets to temporarily suspend a proposed rule change of a self-regulatory organization; to notify an SRO that a proposed rule change does not comply with the rules of the SEC relating to the required form of a proposed rule change; and to determine that a proposed rule change is unusually lengthy and complex or raises novel regulatory issues and to inform the SRO of such determination. In addition, the SEC is amending its rules to delegate authority to the Director of the Division to determine the appropriateness of extending the time periods related to proposed SRO rule changes; to find good cause to approve a proposal on an accelerated basis; and to extend the period for consideration of a national market system plan or an amendment to such plan. The delegation of authority is effective immediately. SEC Release No. 34-63049.