Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Fee Changes, 37805-37806 [E7-13400]
Download as PDF
<![CDATA[
jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 72, No. 132 / Wednesday, July 11, 2007 / Notices
minimize the burden of collections on
respondents, including the use of
automated collection techniques or
other forms of information technology.
Comments to RRB or OIRA must contain
the OMB control number of the ICR. For
proper consideration of your comments,
it is best if RRB and OIRA receive them
within 30 days of publication date.
Section 2 of the Railroad Retirement
Act (RRA) provides for payment of
annuities to qualified employees and
their spouses. In order to receive an age
and service annuity, Section 2(e)(3)
states that an applicant must stop all
railroad work and give up any rights to
return to such work. However,
applicants are not required to stop nonrailroad work or self-employment.
The RRB considers some work
claimed as ‘‘self-employment’’ to
actually be employment for an
employer. Whether the RRB classifies a
particular activity as self-employment or
as work for an employer depends upon
the circumstances of each case. These
circumstances are prescribed in 20 CFR
part 216.
Under the 1988 amendments to the
RRA, an applicant is no longer required
to stop work for a ‘‘Last Pre-Retirement
Nonrailroad Employer’’ (LPE). However,
section 2(f)(6) of the RRA requires that
a portion of the employee’s Tier II
benefit and supplemental annuity be
deducted for earnings from a ‘‘LPE’’
employer.
‘‘LPE’’ is defined as the last person,
company or institution with whom the
employee or spouse applicant was
employed concurrently with, or after,
the applicant’s last railroad employment
and before their annuity beginning date.
If a spouse never worked for a railroad,
the LPE employer is the last person for
whom he or she worked.
The RRB utilizes Form AA–4, SelfEmployment and Substantial Service
Questionnaire, when an applicant
claims to be self-employed to obtain
information needed to determine if the
applicant’s work is LPE, railroad service
or self-employment. If the work is selfemployment, the questionnaire
identifies any months in which the
applicant did not perform substantial
service. The RRB proposes editorial and
formatting changes to Form AA–4.
Other non-burden impacting changes
proposed include dividing current items
containing multiple questions into
separate items with Yes/No responses
and skip patterns. Checklists have also
been added to many items to obtain
more standardized responses.
Our ICR describes the information we
seek to collect from the public. If a
respondent fails to complete Form AA–
4, the RRB may be unable to pay them
VerDate Aug<31>2005
17:56 Jul 10, 2007
Jkt 211001
benefits. The completion time for the
form is estimated at 40 to 70 minutes.
One response is received from each
respondent. Review and approval by
OIRA ensures that we impose
appropriate paperwork burdens.
Previous Requests for Comments: The
RRB has already published the initial
60-day notice (72 FR 19555 on April 18,
2007) required by 44 U.S.C. 3506(c)(2).
That request elicited no comments.
37805
Room 10230, New Executive Office
Building, Washington, DC 20503.
Charles Mierzwa,
Clearance Officer.
[FR Doc. E7–13413 Filed 7–10–07; 8:45 am]
BILLING CODE 7905–01–P
SECURITIES AND EXCHANGE
COMMISSION
Information Collection Request (ICR)
[Release No. 34–56009; File No. SR–ISE–
2007–51]
Title: Self-Employment and
Substantial Service Questionnaire.
OMB Control Number: 3220–0138.
Form(s) submitted: AA–4.
Type of request: Revision of a
currently approved collection.
Affected public: Individuals or
households.
Abstract: Section 2 of the Railroad
Retirement Act provides for payment of
annuities to qualified employees and
their spouses. Work for a Last PreRetirement Nonrailroad Employer (LPE),
and work in self-employment affect
payments in different ways. This
collection obtains information to
determine whether claimed selfemployment is really self-employment,
and not work for a railroad or LPE.
Changes Proposed: The RRB proposes
editorial and formatting changes to
Form AA–4. Other non-burden
impacting changes include dividing
current items containing multiple
questions into separate items with Yes/
No responses and skip patterns.
Checklists have also been added to
many items to obtain more standardized
responses.
The burden estimate for the icr is as
follows:
Estimated Completion Time for Form
AA–4: 40 to 70 minutes.
Estimated annual number of
respondents: 600.
Total annual responses: 600.
Total annual reporting hours: 415.
Additional Information or Comments:
Copies of the forms and supporting
documents can be obtained from
Charles Mierzwa, the agency clearance
officer (312–751–3363) or
Charles.Mierzwa@rrb.gov.
Comments regarding the information
collection should be addressed to
Ronald J. Hodapp, Railroad Retirement
Board, 844 North Rush Street, Chicago,
Illinois, 60611–2092 or
Ronald.Hodapp@rrb.gov and to the
OMB Desk Officer for the RRB, at the
Office of Management and Budget,
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change Relating to Fee Changes
PO 00000
Frm 00107
Fmt 4703
Sfmt 4703
July 3, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on June 22,
2007, the International Securities
Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been substantially prepared by the
Exchange. ISE has designated this
proposal as one establishing or changing
a due, fee, or other charge imposed by
ISE under Section 19(b)(3)(A)(ii) of the
Act 3 and Rule 19b–4(f)(2) 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
ISE proposes to amend its Schedule of
Fees to establish fees for transactions in
options on one Premium Products.5 The
text of the proposed rule change is
available at the Exchange, the
Commission’s Public Reference Room,
and https://www.ise.com.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change, and discussed
any comments it received on the
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
5 ‘‘Premium Products’’ is defined in the Schedule
of Fees as the products enumerated therein.
2 17
E:\FR\FM\11JYN1.SGM
11JYN1
37806
Federal Register / Vol. 72, No. 132 / Wednesday, July 11, 2007 / Notices
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. ISE
has substantially 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
jlentini on PROD1PC65 with NOTICES
The Exchange proposes to amend its
Schedule of Fees to establish fees for
transactions in options on the following
Premium Product: The ISE Electronic
Trading Index (‘‘DMA’’).6 All of the
applicable fees covered by this filing are
identical to fees charged by the
Exchange for all other Premium
Products. Specifically, the Exchange
proposes to adopt an execution fee and
a comparison fee for all transactions in
options on DMA.7 The amount of the
execution fee and comparison fee for
products covered by this filing shall be
$0.15 and $0.03 per contract,
respectively, for all Public Customer
Orders 8 and Firm Proprietary orders.
The amount of the execution fee and
comparison fee for all ISE Market Maker
transactions shall be equal to the
execution fee and comparison fee
currently charged by the Exchange for
ISE Market Maker transactions in equity
options.9 Finally, the amount of the
execution fee and comparison fee for all
non-ISE Market Maker transactions shall
be $0.37 and $0.03 per contract,
respectively. Further, since options on
DMA are not multiply-listed, the
Payment for Order Flow fee shall not
apply. The Exchange believes the
proposed rule change will further the
Exchange’s goal of introducing new
6 The Exchange represents that DMA, a narrowbased index, meets the standards of ISE Rule
2002(b), which allows the ISE to begin trading this
product by filing a Form 19b–4(e) at least five
business days after commencement of trading this
new products pursuant to Rule 19b–4(e) of the Act.
Accordingly, ISE filed Form 19b–4(e) with the
Commission on June 22, 2007.
7 These fees will be charged to Exchange
members. Under a pilot program that is set to expire
on July 31, 2007, these fees will also be charged to
Linkage Orders (as defined in ISE Rule 1900). See
Securities Exchange Act Release No. 54204 (July 25,
2006), 71 FR 43548 (August 1, 2006) (SR–ISE–2006–
38).
8 ‘‘Public Customer Order’’ is defined in ISE Rule
100(a)(39) as an order for the account of a Public
Customer. ‘‘Public Customer’’ is defined in ISE Rule
100(a)(38) as a person that is not a broker or dealer
in securities.
9 The execution fee is currently between $.21 and
$.12 per contract side, depending on the Exchange
Average Daily Volume, and the comparison fee is
currently $.03 per contract side.
VerDate Aug<31>2005
17:56 Jul 10, 2007
Jkt 211001
products to the marketplace that are
competitively priced.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act 10 in general, and
Section 6(b)(4) of the Act 11 in
particular, because it is designed to
provide for the equitable allocation of
reasonable dues, fees, and other charges
among its members and other persons
using its facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does 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
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has been designated as a fee change
pursuant to Section 19(b)(3)(A)(ii) of the
Act 12 and Rule 19b–4(f)(2) 13
thereunder, because it establishes or
changes a due, fee, or other charge
imposed by the Exchange. Accordingly,
the proposal took effect upon filing with
the Commission. At any time within 60
days of the filing of such 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.
Comments may be submitted by any of
the following methods:
PO 00000
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
Number SR–ISE–2007–51 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–ISE–2007–51. 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, 100 F Street, NE., Washington,
DC 20549, on official business days
between the hours of 10 a.m. and 3 p.m.
Copies of such filing also will be
available for inspection and copying at
the principal office of the Exchange. 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–ISE–2007–51 and should be
submitted on or before August 1, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.14
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–13400 Filed 7–10–07; 8:45 am]
BILLING CODE 8010–01–P
10 15
U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(4).
12 15 U.S.C. 78s(b)(3)(A)(ii).
13 17 CFR 240.19b–4(f)(2).
Frm 00108
Fmt 4703
Sfmt 4703
14 17
E:\FR\FM\11JYN1.SGM
CFR 200.30–3(a)(12).
11JYN1
]]>Agencies
[Federal Register Volume 72, Number 132 (Wednesday, July 11, 2007)]
[Notices]
[Pages 37805-37806]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-13400]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56009; File No. SR-ISE-2007-51]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule
Change Relating to Fee Changes
July 3, 2007.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on June 22, 2007, the International Securities Exchange, LLC (``ISE''
or ``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been substantially prepared by the
Exchange. ISE has designated this proposal as one establishing or
changing a due, fee, or other charge imposed by ISE under Section
19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) 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)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
ISE proposes to amend its Schedule of Fees to establish fees for
transactions in options on one Premium Products.\5\ The text of the
proposed rule change is available at the Exchange, the Commission's
Public Reference Room, and https://www.ise.com.
---------------------------------------------------------------------------
\5\ ``Premium Products'' is defined in the Schedule of Fees as
the products enumerated therein.
---------------------------------------------------------------------------
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change, and
discussed any comments it received on the
[[Page 37806]]
proposed rule change. The text of these statements may be examined at
the places specified in Item IV below. ISE has substantially 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 Exchange proposes to amend its Schedule of Fees to establish
fees for transactions in options on the following Premium Product: The
ISE Electronic Trading Index (``DMA'').\6\ All of the applicable fees
covered by this filing are identical to fees charged by the Exchange
for all other Premium Products. Specifically, the Exchange proposes to
adopt an execution fee and a comparison fee for all transactions in
options on DMA.\7\ The amount of the execution fee and comparison fee
for products covered by this filing shall be $0.15 and $0.03 per
contract, respectively, for all Public Customer Orders \8\ and Firm
Proprietary orders. The amount of the execution fee and comparison fee
for all ISE Market Maker transactions shall be equal to the execution
fee and comparison fee currently charged by the Exchange for ISE Market
Maker transactions in equity options.\9\ Finally, the amount of the
execution fee and comparison fee for all non-ISE Market Maker
transactions shall be $0.37 and $0.03 per contract, respectively.
Further, since options on DMA are not multiply-listed, the Payment for
Order Flow fee shall not apply. The Exchange believes the proposed rule
change will further the Exchange's goal of introducing new products to
the marketplace that are competitively priced.
---------------------------------------------------------------------------
\6\ The Exchange represents that DMA, a narrow-based index,
meets the standards of ISE Rule 2002(b), which allows the ISE to
begin trading this product by filing a Form 19b-4(e) at least five
business days after commencement of trading this new products
pursuant to Rule 19b-4(e) of the Act. Accordingly, ISE filed Form
19b-4(e) with the Commission on June 22, 2007.
\7\ These fees will be charged to Exchange members. Under a
pilot program that is set to expire on July 31, 2007, these fees
will also be charged to Linkage Orders (as defined in ISE Rule
1900). See Securities Exchange Act Release No. 54204 (July 25,
2006), 71 FR 43548 (August 1, 2006) (SR-ISE-2006-38).
\8\ ``Public Customer Order'' is defined in ISE Rule 100(a)(39)
as an order for the account of a Public Customer. ``Public
Customer'' is defined in ISE Rule 100(a)(38) as a person that is not
a broker or dealer in securities.
\9\ The execution fee is currently between $.21 and $.12 per
contract side, depending on the Exchange Average Daily Volume, and
the comparison fee is currently $.03 per contract side.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act \10\ in general, and Section 6(b)(4) of
the Act \11\ in particular, because it is designed to provide for the
equitable allocation of reasonable dues, fees, and other charges among
its members and other persons using its facilities.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does 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
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change has been designated as a fee
change pursuant to Section 19(b)(3)(A)(ii) of the Act \12\ and Rule
19b-4(f)(2) \13\ thereunder, because it establishes or changes a due,
fee, or other charge imposed by the Exchange. Accordingly, the proposal
took effect upon filing with the Commission. At any time within 60 days
of the filing of such 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.
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78s(b)(3)(A)(ii).
\13\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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. 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 Number SR-ISE-2007-51 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-ISE-2007-51. 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, 100 F Street, NE.,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of such filing also will be available for
inspection and copying at the principal office of the Exchange. 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-ISE-2007-51 and should be
submitted on or before August 1, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------
\14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-13400 Filed 7-10-07; 8:45 am]
BILLING CODE 8010-01-P
