The Securities and Exchange Commission (``Commission'') is amending Rule 30-3 of the Rules of Practice and Investigations to delegate to the Director of the Division of Market Regulation (``Division'') certain functions relating to proposed bylaw and rule changes filed by the Securities Investor Protection Corporation (``SIPC''). This amendment is intended to conserve the Commission's resources and to relieve the Commission of the burden of considering routine matters relating to SIPC's operation.