Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of a Proposed Rule Change To Amend CBOE's Rule Pertaining to Verification Requests for Trade Reporting Minor Rule Violations, 46257-46258 [E7-16210]

Download as PDF Federal Register / Vol. 72, No. 159 / Friday, August 17, 2007 / Notices 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–CFE–2007–01 and should be submitted on or before September 7, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–16209 Filed 8–16–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56239; File No. SR–CBOE– 2007–84] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of a Proposed Rule Change To Amend CBOE’s Rule Pertaining to Verification Requests for Trade Reporting Minor Rule Violations August 10, 2007. ebenthall on PRODPC61 with NOTICES 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 July 18, 2007, 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, II, and III below, which Items have been substantially prepared by the Exchange. 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 The Exchange proposes to amend CBOE Rule 17.50 (Imposition of Fines for Minor Rule Violations) Interpretation and Policy .02(b) regarding verification requests for fines imposed pursuant to the provisions of CBOE Rule 17.50(g)(4) (Failure to Submit Trade Information on Time and Failure to Submit Trade Information to the Price Reporter). 9 17 CFR 200.30–3(a)(73). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 15:36 Aug 16, 2007 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 proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange 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 proposal is to increase the ‘‘look-back’’ period in connection with determining the maximum number of transactions during a given month for which a member fined under CBOE Rule 17.50(g)(4) can request verification. The Exchange proposes to increase this ‘‘look-back’’ period from a rolling 18month period to a rolling 24-month period. CBOE Rule 6.51 provides, in part, that a participant in each transaction to be designated by the Exchange must report or ensure the transaction is reported to the Exchange within 90 seconds of the execution, in a form and manner prescribed by the Exchange, so that the trade information may be reported to time and sales reports. Transactions not reported within 90 seconds after execution, in accordance with CBOE Rule 6.51(a)(i), shall be designated as late. The Exchange recently amended CBOE Rule 17.50(g)(4) and lengthened its ‘‘lookback’’ period for assessing fine amounts to a rolling 24-month period for violations of CBOE Rule 6.51 in connection with trade reporting.3 The Exchange believes that lengthening the rolling period for determining the maximum number of transactions during a given month for which a member can submit verification requests to a 24-month period will serve as an 3 See Securities Exchange Act Release No. 54827 (November 29, 2006), 71 FR 70810 (December 6, 2006) (approving SR–CBOE–2006–81). 1 15 VerDate Aug<31>2005 The text of the proposed rule change is available on the Exchange’s Web site (https://www.cboe.com), at the Exchange’s principal office, and at the Commission’s Public Reference Room. Jkt 211001 PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 46257 effective deterrent to such violative conduct. 2. Statutory Basis The Exchange believes that the proposed rule changes will strengthen its ability to carry out its oversight responsibilities as a self-regulatory organization and reinforce its surveillance and enforcement functions. The Exchange believes that the proposed rule change is consistent with section 6(b) of the Act,4 in general, and furthers the objectives of section 6(b)(5) of the Act,5 in particular, in that it would promote just and equitable principles of trade, facilitate transactions in securities, remove impediments to and perfect the mechanisms of a free and open market and a national market system, and protect investors and the public interest. B. Self-Regulatory Organization’s Statement on Burden on Competition This 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 No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve such proposed rule change, or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. 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: 4 15 5 15 E:\FR\FM\17AUN1.SGM U.S.C. 78f(b). U.S.C. 78f(b)(5). 17AUN1 46258 Federal Register / Vol. 72, No. 159 / Friday, August 17, 2007 / Notices Electronic Comments SMALL BUSINESS ADMINISTRATION ACTION: • 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–2007–84 on the subject line. [Disaster Declaration # 10927 and # 10928] SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of Texas (FEMA– 1709–DR), dated 06/29/2007. Incident: Severe Storms, Tornadoes, and Flooding. Incident Period: 06/16/2007 and continuing through 08/03/2007. DATES: Effective Date: 08/03/2007. Physical Loan Application Deadline Date: 08/28/2007. EIDL Loan Application Deadline Date: 03/31/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster declaration for the State of Texas, dated 06/29/2007 is hereby amended to establish the incident period for this disaster as beginning 06/16/2007 and continuing through 08/03/2007. All other information in the original declaration remains unchanged. Oklahoma Disaster Number OK–00012 U.S. Small Business Administration. ACTION: Amendment 4. AGENCY: SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of Oklahoma • Send paper comments in triplicate (FEMA–1712–DR), dated 07/07/2007. to Nancy M. Morris, Secretary, Incident: Severe Storms, Flooding, Securities and Exchange Commission, and Tornadoes. Station Place, 100 F Street, NE., Incident Period: 06/10/2007 through Washington, DC 20549–1090. 07/25/2007. DATES: Effective Date: 08/03/2007. All submissions should refer to File Physical Loan Application Deadline Number SR–CBOE–2007–84. This file Date: 09/05/2007. number should be included on the EIDL Loan Application Deadline Date: subject line if e-mail is used. To help the 04/07/2008. Commission process and review your ADDRESSES: Submit completed loan comments more efficiently, please use applications to: U.S. Small Business only one method. The Commission will Administration, Processing And post all comments on the Commission’s Disbursement Center, 14925 Kingsport Internet Web site (https://www.sec.gov/ Road, Fort Worth, TX 76155. rules/sro.shtml). Copies of the FOR FURTHER INFORMATION CONTACT: A. submission, all subsequent Escobar, Office of Disaster Assistance, amendments, all written statements U.S. Small Business Administration, with respect to the proposed rule 409 3rd Street, SW., Suite 6050, change that are filed with the Washington, DC 20416. Commission, and all written SUPPLEMENTARY INFORMATION: The notice communications relating to the of the Presidential disaster declaration proposed rule change between the for the State of Oklahoma, dated 07/07/ Commission and any person, other than 2007 is hereby amended to include the those that may be withheld from the following areas as adversely affected by public in accordance with the the disaster: provisions of 5 U.S.C. 552, will be Primary Counties: available for inspection and copying in Blaine, Bryan, Canadian, Cleveland, the Commission’s Public Reference Cotton, Grady, Kiowa, Mcclain, Room, 100 F Street, NE., Washington, Oklahoma, Rogers, and Stephens. DC 20549, on official business days Contiguous Counties: between the hours of 10 a.m. and 3 p.m. Oklahoma: Atoka, Beckham, Carter, Copies of such filing also will be Choctaw, Custer, Dewey, Greer, available for inspection and copying at Jackson, Jefferson, Major, Marshall, the principal office of CBOE. All Mayes, Wagoner, and Washita. comments received will be posted Texas: Clay, Fannin, Grayson, Lamar, without change; the Commission does and Wichita. not edit personal identifying All other information in the original information from submissions. You declaration remains unchanged. should submit only information that (Catalog of Federal Domestic Assistance you wish to make available publicly. All Numbers 59002 and 59008) submissions should refer to File Number SR–CBOE–2007–84 and should Roger B. Garland, Acting Associate Administrator for Disaster be submitted on or before September 7, Assistance. 2007. ebenthall on PRODPC61 with NOTICES Paper Comments For the Commission, by the Division of Market Regulation, pursuant to delegated authority.6 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–16210 Filed 8–16–07; 8:45 am] [FR Doc. E7–16192 Filed 8–16–07; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #10919 and #10920] Texas Disaster Number TX–00254 BILLING CODE 8010–01–P U.S. Small Business Administration. AGENCY: 6 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 15:36 Aug 16, 2007 Jkt 211001 PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 Amendment 5. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Roger B. Garland, Acting Associate Administrator for Disaster Assistance. [FR Doc. E7–16190 Filed 8–16–07; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #10919 and #10920] Texas Disaster Number TX–00254 U.S. Small Business Administration. ACTION: Amendment 6. AGENCY: SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of Texas (FEMA– 1709–DR), dated 06/29/2007. Incident: Severe Storms, Tornadoes, and Flooding. Incident Period: 06/16/2007 through 08/03/2007. DATES: Effective Date: 08/07/2007. Physical Loan Application Deadline Date: 08/28/2007. EIDL Loan Application Deadline Date: 03/31/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business E:\FR\FM\17AUN1.SGM 17AUN1

Agencies

[Federal Register Volume 72, Number 159 (Friday, August 17, 2007)]
[Notices]
[Pages 46257-46258]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-16210]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56239; File No. SR-CBOE-2007-84]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing of a Proposed Rule Change To Amend 
CBOE's Rule Pertaining to Verification Requests for Trade Reporting 
Minor Rule Violations

August 10, 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 July 18, 2007, 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, II, and III below, which Items have been substantially 
prepared by the Exchange. 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.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend CBOE Rule 17.50 (Imposition of Fines 
for Minor Rule Violations) Interpretation and Policy .02(b) regarding 
verification requests for fines imposed pursuant to the provisions of 
CBOE Rule 17.50(g)(4) (Failure to Submit Trade Information on Time and 
Failure to Submit Trade Information to the Price Reporter).
    The text of the proposed rule change is available on the Exchange's 
Web site (https://www.cboe.com), at the Exchange's principal office, 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, the Exchange 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. The Exchange 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 proposal is to increase the ``look-back'' 
period in connection with determining the maximum number of 
transactions during a given month for which a member fined under CBOE 
Rule 17.50(g)(4) can request verification. The Exchange proposes to 
increase this ``look-back'' period from a rolling 18-month period to a 
rolling 24-month period. CBOE Rule 6.51 provides, in part, that a 
participant in each transaction to be designated by the Exchange must 
report or ensure the transaction is reported to the Exchange within 90 
seconds of the execution, in a form and manner prescribed by the 
Exchange, so that the trade information may be reported to time and 
sales reports. Transactions not reported within 90 seconds after 
execution, in accordance with CBOE Rule 6.51(a)(i), shall be designated 
as late. The Exchange recently amended CBOE Rule 17.50(g)(4) and 
lengthened its ``look-back'' period for assessing fine amounts to a 
rolling 24-month period for violations of CBOE Rule 6.51 in connection 
with trade reporting.\3\ The Exchange believes that lengthening the 
rolling period for determining the maximum number of transactions 
during a given month for which a member can submit verification 
requests to a 24-month period will serve as an effective deterrent to 
such violative conduct.
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 54827 (November 29, 
2006), 71 FR 70810 (December 6, 2006) (approving SR-CBOE-2006-81).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule changes will 
strengthen its ability to carry out its oversight responsibilities as a 
self-regulatory organization and reinforce its surveillance and 
enforcement functions. The Exchange believes that the proposed rule 
change is consistent with section 6(b) of the Act,\4\ in general, and 
furthers the objectives of section 6(b)(5) of the Act,\5\ in 
particular, in that it would promote just and equitable principles of 
trade, facilitate transactions in securities, remove impediments to and 
perfect the mechanisms of a free and open market and a national market 
system, and protect investors and the public interest.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    This 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

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Within 35 days of the date of publication of this notice in the 
Federal Register or within such longer period (i) as the Commission may 
designate up to 90 days of such date if it finds such longer period to 
be appropriate and publishes its reasons for so finding or (ii) as to 
which the self-regulatory organization consents, the Commission will:
    (A) By order approve such proposed rule change, or
    (B) Institute proceedings to determine whether the proposed rule 
change should be disapproved.

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:

[[Page 46258]]

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-2007-84 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, Station Place, 100 F 
Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-CBOE-2007-84. 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 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-2007-84 and should be 
submitted on or before September 7, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-16210 Filed 8-16-07; 8:45 am]
BILLING CODE 8010-01-P
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