Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Extend a Pilot Program Relating to the Retail Automatic Execution System, 73317-73319 [E5-7103]
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Federal Register / Vol. 70, No. 236 / Friday, December 9, 2005 / Notices
by the shareholders of the applicable
Fund.
5. Each Fund will comply with the
fund governance standards set forth in
rule 0–1(a)(7) under the Act by the
compliance date for the rule
(‘‘Compliance Date’’). Prior to the
Compliance Date, a majority of the
Board will be Independent Trustees,
and the nomination of new or additional
Independent Trustees will be at the
discretion of the then existing
Independent Trustees.
6. When a Subadviser change is
proposed for a Fund with an Affiliated
Subadviser, the Board, including a
majority of the Independent Trustees,
will make a separate finding, reflected
in the applicable Board minutes, that
such change is in the best interests of
the Fund and its shareholders and does
not involve a conflict of interest from
which the Adviser or the Affiliated
Subadviser derives an inappropriate
advantage.
7. Independent counsel, as defined in
rule 0–1(a)(6) under the Act, will be
engaged to represent the Independent
Trustees. The selection of such counsel
will be within the discretion of the then
existing Independent Trustees.
8. The Adviser will provide the
Board, no less frequently than quarterly,
with information about the profitability
of the Adviser on a per-Fund basis. The
information will reflect the impact on
profitability of the hiring or termination
of any Subadviser during the applicable
quarter.
9. Whenever a Subadviser is hired or
terminated, the Adviser will provide the
Board with information showing the
expected impact on the profitability of
the Adviser.
10. The Adviser will provide general
management services to each Fund,
including overall supervisory
responsibility for the general
management and investment of the
Fund’s assets, and, subject to review
and approval of the Board, will: (a) Set
each Fund’s overall investment
strategies, (b) evaluate, select and
recommend Subadvisers to manage all
or a part of a Fund’s assets, (c) when
appropriate, allocate and reallocate a
Fund’s assets among multiple
Subadvisers; (d) monitor and evaluate
the performance of Subadvisers, and (e)
implement procedures reasonably
designed to ensure that the Subadvisers
comply with each Fund’s investment
objective, policies and restrictions.
11. No trustee or officer of the Trust,
or director or officer of the Adviser, will
own directly or indirectly (other than
through a pooled investment vehicle
that is not controlled by such person)
any interest in a Subadviser, except for:
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14:22 Dec 08, 2005
Jkt 208001
(a) Ownership of interests in the
Adviser or any entity that controls, is
controlled by, or is under common
control with the Adviser, or (b)
ownership of less than 1% of the
outstanding securities of any class of
equity or debt of a publicly traded
company that is either a Subadviser or
an entity that controls, is controlled by,
or is under common control with a
Subadviser.
12. Each Fund will disclose in its
registration statement the Aggregate Fee
Disclosure.
13. The requested order will expire on
the effective date of rule 15a–5 under
the Act, if adopted.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 05–23844 Filed 12–8–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–52874; File No. SR–Amex–
2005–097]
Self-Regulatory Organizations;
American Stock Exchange LLC; Order
Approving Proposed Rule Change
Relating to the Amex Listing
Agreement
December 1, 2005.
I. Introduction
On September 29, 2005, the American
Stock Exchange LLC (‘‘Amex’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) a proposed rule
change, pursuant to Section 19(b)(1) of
the Securities Exchange Act of 1934
(‘‘Act’’)1 and Rule 19b–4 thereunder,2 to
adopt a modified Amex Listing
Agreement. The proposed rule change
was published for comment in the
Federal Register on October 25, 2005.3
The Commission received no comments
on the proposal. This order approves the
proposed rule change.
II. Description of the Proposal
The Exchange proposes to adopt a
modified Amex Listing Agreement for
the purpose of (i) combining the two
forms of Amex Listing Agreements
presently available into one form of
Amex Listing Agreement to be
submitted to the Exchange by all issuers
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 52630
(October 18, 2005), 70 FR 61670.
2 17
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73317
in connection with a listing application;
(ii) eliminating a representation by
issuers of structured products,
exchange-traded funds, trust issued
receipts and other novel securities
products regarding third party claims;
and (iii) making certain minor, nonsubstantive changes to the Amex Listing
Agreement.
III. Discussion
After careful consideration, the
Commission finds that the proposed
rule change, as amended, is consistent
with the requirements of the Act and the
rules and regulations thereunder
applicable to a national securities
exchange.4 In particular, the
Commission believes that the proposal
is consistent with Section 6(b)(5)5 in
particular, in that it is designed to
promote just and equitable principles of
trade and is not designed to permit
unfair discrimination between issuers or
to regulate by virtue of any authority
conferred by the Act matters not related
to the purposes of the Act or the
administration of the Exchange.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,6 that the
proposed rule change (SR–Amex–2005–
097) be, and it hereby is, approved.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.7
Jonathan G. Katz,
Secretary.
[FR Doc. E5–7102 Filed 12–8–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–52855; File No. SR–CBOE–
2005–96]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change to Extend a Pilot Program
Relating to the Retail Automatic
Execution System
November 30, 2005.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
4 In approving the proposed rule change, the
Commission has considered its impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
5 15 U.S.C. 78f(b)(5).
6 15 U.S.C. 78s(b)(2).
7 17 CFR 200.30–3(a)(12).
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Federal Register / Vol. 70, No. 236 / Friday, December 9, 2005 / Notices
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on November
15, 2005, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by CBOE. The Exchange filed the
proposal pursuant to Section 19(b)(3)(A)
of the Act 3 and Rule 19b–4(f)(6)
thereunder,4 which renders the proposal
effective upon filing with the
Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
CBOE proposes to extend a pilot
program relating to the operation of
CBOE’s Retail Automatic Execution
System (‘‘RAES’’) until November 30,
2006 to allow broker-dealer orders that
are eligible for execution on RAES
pursuant to CBOE Rule 6.8,
Interpretation and Policy .01 to
automatically execute against customer
limit orders on CBOE’s book in classes
designated by the appropriate Floor
Procedure Committee (‘‘Pilot’’). The text
of the proposed rule change is available
on CBOE’s Web site (https://
www.cboe.com), at CBOE’s Office of the
Secretary, and at the Commission’s
Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
CBOE 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. CBOE has prepared
summaries, set forth in Sections A, B,
and C below, of the most significant
aspects of such statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of this filing is to extend
the Pilot until November 30, 2006. The
Pilot was originally approved on May
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
2 17
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14:22 Dec 08, 2005
Jkt 208001
13, 2004, with an expiration date of
November 30, 2004,5 and is currently
extended for one year to November 30,
2005.6
The Exchange’s RAES system was
created to allow for the automatic
execution of retail customer options
orders against CBOE market makers at
their disseminated prices. In 1999, the
Exchange expanded the RAES system to
allow incoming RAES orders to execute
against customer limit orders on the
CBOE book when such booked orders
constitute CBOE’s best bid/offer.7 The
Exchange has allowed broker-dealer
orders to be executed on RAES in
classes designated by the appropriate
Floor Procedure Committee.8 The Pilot
would allow these broker-dealer orders
to automatically execute against the
book.
2. Statutory Basis
Because the proposed rule change
will expand the number of orders
eligible to trade automatically with
booked customer limit orders, the
Exchange believes the proposed rule
change is consistent with Section 6(b) of
the Act in general,9 and furthers the
objectives of Section 6(b)(5) of the Act
in particular,10 in that it is designed to
promote just and equitable principles of
trade, to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes that the
proposed rule change will not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
No written comments were solicited
or received with respect to the proposed
rule changes.
5 See Securities Exchange Act Release No. 49699
(May 13, 2004), 69 FR 28958 (May 19, 2004) (SR–
CBOE–2003–42).
6 See Securities Exchange Act Release No. 50779
(December 1, 2004), 69 FR 71087 (December 8,
2004) (SR–CBOE–2004–78).
7 See Securities Exchange Act Release No. 41995
(October 8, 1999), 64 FR 56547 (October 20, 1999)
(SR–CBOE–99–29).
8 See Securities Exchange Act Release Nos. 45967
(May 20, 2002), 67 FR 37888 (May 30, 2002) (SR–
CBOE–2002–22); 46113 (June 25, 2002), 67 FR
44486 (July 2, 2002) (SR–CBOE–2002–35); and
46598 (October 3, 2002), 67 FR 63478 (October 11,
2002) (SR–CBOE–2002–56).
9 15 U.S.C. 78f.
10 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00125
Fmt 4703
Sfmt 4703
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change: (1) Does not significantly affect
the protection of investors or the public
interest; (2) does not impose any
significant burden on competition; and
(3) by its terms, does not become
operative prior to 30 days after the date
of this filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, and because the
Exchange provided the Commission
with written notice of its intent to file
the proposed rule change at least five
days prior to the filing date, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 11 and Rule 19b–4(f)(6)
thereunder.12
The Exchange requests that the
Commission waive the 30-day operative
delay, as specified in Rule 19b–
4(f)(6)(iii).13 The Exchange believes that
the waiver of this period is appropriate
because the filing merely extends the
Pilot that has been in effect since May
13, 2004 and because the Pilot affords
automatic executions to a greater
number of market participants.
The Commission believes that it is
consistent with the protection of
investors and the public interest to
waive the 30-day operative delay and
make this proposed rule change
immediately effective.14 The
Commission believes that the waiver of
the 30-day operative delay will allow
the Exchange to continue, without
interruption, the existing operation of
its Pilot for an additional year, expiring
on November 30, 2006. At any time
within 60 days of the filing of the
proposed rule change, the Commission
may summarily abrogate such rule
change if it appears to the Commission
that such action is necessary or
appropriate in the public interest, for
the protection of investors, or otherwise
in furtherance of the purposes of the
Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
11 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
13 17 CFR 240.19b–4(f)(6)(iii).
14 For purposes only of accelerating the operative
date of this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
12 17
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09DEN1
73319
Federal Register / Vol. 70, No. 236 / Friday, December 9, 2005 / Notices
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
No. SR–CBOE–2005–96 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–9303.
All submissions should refer to File
Number SR–CBOE–2005–96. This file
number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). 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. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room. Copies of such filing also will be
available for inspection and copying at
the principal office of CBOE.
All comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–CBOE–2005–96 and should
be submitted on or before December 30,
2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.15
Jonathan G. Katz,
Secretary.
[FR Doc. E5–7103 Filed 12–8–05; 8:45 am]
BILLING CODE 8010–01–P
SOCIAL SECURITY ADMINISTRATION
Agency Information Collection
Activities: Proposed Request
The Social Security Administration
(SSA) publishes a list of information
collection packages that requires
clearance by the Office of Management
and Budget (OMB) in compliance with
Public Law 104–13, the Paperwork
Reduction Act of 1995, effective October
1, 1995. The information collection
packages that may be included in this
notice are for new information
collections, approval of existing
information collections, revisions to
OMB-approved information collections,
and extensions (no change) of OMBapproved information collections.
SSA is soliciting comments on the
accuracy of the Agency’s burden
estimate; the need for the information;
its practical utility; ways to enhance its
quality, utility, and clarity; and ways to
minimize burden on respondents,
including the use of automated
collection techniques or other forms of
information technology. Written
comments and recommendations
regarding the information collection(s)
should be submitted to the OMB Desk
Officer and the SSA Reports Clearance
Officer.
(OMB), Office of Management and
Budget, Attn: Desk Officer for SSA. Fax:
202–395–6974.
(SSA), Social Security
Administration, DCFAM, Attn: Reports
Clearance Officer. Fax: 410–965–6400.
E-mail: OPLM.RCO@ssa.gov.
The information collection listed
below is pending at SSA and will be
submitted to OMB within 60 days from
the date of this notice. Therefore, your
Form number and name
Description
of form
SSA–9301 (Medicare Subsidy Quality Review Case Analysis Questionnaire).
Telephone questionnaire which will
be administered by SSA employees to applicants for Medicare
Part D Subsidy. Includes questions about family size, marriage,
income, assets, etc.
15 17
Number of
respondents
comments should be submitted to SSA
within 60 days from the date of this
publication. You can obtain a copy of
the collection instrument by calling the
SSA Reports Clearance Officer at 410–
965–0454 or by e-mailing or faxing your
request to the above e-mail address and
fax number.
Medicare Subsidy Quality Review Case
Analysis Forms—20 CFR 418(b)(5)—
0960–0707
Under the aegis of the Medicare
Modernization Act of 2003, SSA will
make Medicare Part D subsidy
determinations for the Medicare
Prescription Drug program for Medicare
beneficiaries with limited income and
resources. The subsidy determination is
based on applicants’ answers to
questions about household size, income,
and resources. This information is selfreported by applicants using form OMB
No. 0960–0696 (SSA–1020), and thus,
SSA needs a way to determine if this
form is being completed accurately and
completely and a way to validate its
determination decisions. To this end,
SSA will use the new Medicare Quality
Review system to check the accuracy of
the determination. In this system, SSA
will conduct phone interviews with
selected applicants and will confirm
information such as household size,
income, and resources. A questionnaire
and several other forms will be used as
part of the Medicare Quality Review
System. The collection instruments,
their descriptions, and burden
information are listed in the table
below.
Note: This Notice is for the permanent
approval of this collection, which was
cleared by OMB temporarily through
February 2006 as an emergency information
collection.
Type of Request: Extension of a
currently approved information
collection.
Frequency of
response
10,000
1
CFR 200.30–3(a)(12).
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14:22 Dec 08, 2005
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E:\FR\FM\09DEN1.SGM
09DEN1
Average
burden
per response
(minutes)
35
Estimated
annual burden
(hours)
5,833
]]>Agencies
[Federal Register Volume 70, Number 236 (Friday, December 9, 2005)]
[Notices]
[Pages 73317-73319]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-7103]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-52855; File No. SR-CBOE-2005-96]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change to Extend a Pilot Program Relating to the Retail Automatic
Execution System
November 30, 2005.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the
[[Page 73318]]
``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on November 15, 2005, the Chicago Board Options Exchange, Incorporated
(``CBOE'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I and II below, which Items have been prepared by CBOE. The
Exchange filed the proposal pursuant to Section 19(b)(3)(A) of the Act
\3\ and Rule 19b-4(f)(6) thereunder,\4\ which renders the proposal
effective upon filing with the Commission. 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).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
CBOE proposes to extend a pilot program relating to the operation
of CBOE's Retail Automatic Execution System (``RAES'') until November
30, 2006 to allow broker-dealer orders that are eligible for execution
on RAES pursuant to CBOE Rule 6.8, Interpretation and Policy .01 to
automatically execute against customer limit orders on CBOE's book in
classes designated by the appropriate Floor Procedure Committee
(``Pilot''). The text of the proposed rule change is available on
CBOE's Web site (https://www.cboe.com), at CBOE's Office of the
Secretary, and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, CBOE 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. CBOE has prepared summaries, set forth in Sections A, B,
and C below, of the most significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of this filing is to extend the Pilot until November
30, 2006. The Pilot was originally approved on May 13, 2004, with an
expiration date of November 30, 2004,\5\ and is currently extended for
one year to November 30, 2005.\6\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 49699 (May 13,
2004), 69 FR 28958 (May 19, 2004) (SR-CBOE-2003-42).
\6\ See Securities Exchange Act Release No. 50779 (December 1,
2004), 69 FR 71087 (December 8, 2004) (SR-CBOE-2004-78).
---------------------------------------------------------------------------
The Exchange's RAES system was created to allow for the automatic
execution of retail customer options orders against CBOE market makers
at their disseminated prices. In 1999, the Exchange expanded the RAES
system to allow incoming RAES orders to execute against customer limit
orders on the CBOE book when such booked orders constitute CBOE's best
bid/offer.\7\ The Exchange has allowed broker-dealer orders to be
executed on RAES in classes designated by the appropriate Floor
Procedure Committee.\8\ The Pilot would allow these broker-dealer
orders to automatically execute against the book.
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release No. 41995 (October 8,
1999), 64 FR 56547 (October 20, 1999) (SR-CBOE-99-29).
\8\ See Securities Exchange Act Release Nos. 45967 (May 20,
2002), 67 FR 37888 (May 30, 2002) (SR-CBOE-2002-22); 46113 (June 25,
2002), 67 FR 44486 (July 2, 2002) (SR-CBOE-2002-35); and 46598
(October 3, 2002), 67 FR 63478 (October 11, 2002) (SR-CBOE-2002-56).
---------------------------------------------------------------------------
2. Statutory Basis
Because the proposed rule change will expand the number of orders
eligible to trade automatically with booked customer limit orders, the
Exchange believes the proposed rule change is consistent with Section
6(b) of the Act in general,\9\ and furthers the objectives of Section
6(b)(5) of the Act in particular,\10\ in that it is designed to promote
just and equitable principles of trade, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general, to protect investors and the public interest.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f.
\10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange believes that the proposed rule change will not impose
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
No written comments were solicited or received with respect to the
proposed rule changes.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms, does not become operative prior to 30 days after
the date of this filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest, and because the Exchange provided the Commission with written
notice of its intent to file the proposed rule change at least five
days prior to the filing date, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act \11\ and Rule 19b-
4(f)(6) thereunder.\12\
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
The Exchange requests that the Commission waive the 30-day
operative delay, as specified in Rule 19b-4(f)(6)(iii).\13\ The
Exchange believes that the waiver of this period is appropriate because
the filing merely extends the Pilot that has been in effect since May
13, 2004 and because the Pilot affords automatic executions to a
greater number of market participants.
---------------------------------------------------------------------------
\13\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
The Commission believes that it is consistent with the protection
of investors and the public interest to waive the 30-day operative
delay and make this proposed rule change immediately effective.\14\ The
Commission believes that the waiver of the 30-day operative delay will
allow the Exchange to continue, without interruption, the existing
operation of its Pilot for an additional year, expiring on November 30,
2006. At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.
---------------------------------------------------------------------------
\14\ For purposes only of accelerating the operative date of
this proposal, the Commission has considered the proposed rule's
impact on efficiency, competition, and capital formation. See 15
U.S.C. 78c(f).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act.
[[Page 73319]]
Comments may be submitted by any of the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File No. SR-CBOE-2005-96 on the subject line.
Paper Comments
Send paper comments in triplicate to Jonathan G. Katz,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-9303.
All submissions should refer to File Number SR-CBOE-2005-96. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (https://www.sec.gov/
rules/sro.shtml). 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. 552, will be available for inspection
and copying in the Commission's Public Reference Room. Copies of such
filing also will be available for inspection and copying at the
principal office of CBOE.
All comments received will be posted without change; the Commission
does not edit personal identifying information from submissions. You
should submit only information that you wish to make available
publicly. All submissions should refer to File Number SR-CBOE-2005-96
and should be submitted on or before December 30, 2005.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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Jonathan G. Katz,
Secretary.
[FR Doc. E5-7103 Filed 12-8-05; 8:45 am]
BILLING CODE 8010-01-P
