Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Amex Rule 3-AEMI, 8381-8382 [E8-2614]
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Federal Register / Vol. 73, No. 30 / Wednesday, February 13, 2008 / Notices
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For the Nuclear Regulatory Commission.
Jack Cushing,
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Regulation.
[FR Doc. E8–2711 Filed 2–12–08; 8:45 am]
BILLING CODE 7590–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57289; File No. SR–Amex–
2008–06]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change Amending
Amex Rule 3–AEMI
February 7, 2008.
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 January
31, 2007, the American Stock Exchange
LLC (‘‘Amex’’ 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 substantially prepared by the
Exchange. 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.
rwilkins on PROD1PC63 with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Amex Rule 3–AEMI to include
provisions regarding the prevention of
the misuse of material nonpublic
information by members, member
organizations, or persons associated
with such members, pursuant to the
Act. The text of the proposed rule
change is available at Amex, the
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
VerDate Aug<31>2005
17:45 Feb 12, 2008
Jkt 214001
Commission’s Public Reference Room,
and https://www.Amex.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
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. Amex
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 the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposal is to
amend Amex Rule 3–AEMI to include
provisions regarding the prevention of
the misuse of material nonpublic
information by members, member
organizations, or persons associated
with such members, pursuant to section
15(f) of the Act.5 section 15(f) requires
that every registered broker or dealer
establish, maintain and enforce written
policies and procedures reasonably
designed, taking into consideration the
nature of such broker’s or dealer’s
business, to prevent the misuse of
material, nonpublic information by such
broker or dealer or any person
associated with such broker or dealer.
The Commission previously approved
proposals by the Amex to amend nonAEMI Amex Rule 3 to require members
to establish, maintain and enforce
written policies and procedures to
prevent the misuse of material
nonpublic information.6 This filing
proposes to update Amex Rule 3–AEMI
to adopt the rules in non-AEMI Amex
Rule 3 concerning the prevention of the
misuse of material nonpublic
information, as previously approved by
the Commission.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with section
6(b) of the Act 7 in general, and furthers
the objectives of section 6(b)(5) 8 in
5 15
U.S.C. 78o(f).
Securities Exchange Act Release No. 34–
54983 (Dec. 20, 2006), 71 FR 78476 (Dec. 29, 2006)
(File No. SR–Amex–2006–86). See also Securities
Exchange Act Release No. 34–55187 (Jan. 29, 2007),
72 FR 5467 (Feb. 6, 2007) (File No. SR–Amex–
2006–110).
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
6 See
PO 00000
Frm 00119
Fmt 4703
Sfmt 4703
8381
particular, in that it would remove
impediments to and perfect the
mechanism of a free and open market in
a manner consistent with the protection
of investors and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will 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
Because the foregoing proposed rule
change does not:
(i) Significantly affect the protection
of investors or the public interest;
(ii) impose any significant burden on
competition; and
(iii) become operative for 30 days
from the date on which it was filed, or
such shorter time as the Commission
may designate, if consistent with the
protection of investors and the public
interest, it has become effective
pursuant to section 19(b)(3)(A) of the
Act and Rule 19b–4(f)(6) thereunder. As
required under Rule 19b–4(f)(6)(iii)
under the Act, the Exchange provided
the Commission with written notice of
its intent to file the proposed rule
change, along with a brief description
and text of the proposed rule change, at
least five business days prior to the date
of the filing of the proposed rule change.
A proposed rule change filed under
19b–4(f)(6) normally may not become
operative prior to 30 days after the date
of filing. However, Rule 19b–4(f)(6)(iii)
permits the Commission to designate a
shorter time if such action is consistent
with the protection of investors and the
public interest. The Exchange has
requested that the Commission waive
the 30-day operative delay. The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest. Waiver of the 30-day
operative delay would enable the
Exchange to implement and enforce the
new provisions relating to the
prevention of the misuse of material
nonpublic information in Amex Rule 3–
AEMI immediately. For this reason, the
Commission therefore designates the
E:\FR\FM\13FEN1.SGM
13FEN1
8382
Federal Register / Vol. 73, No. 30 / Wednesday, February 13, 2008 / Notices
proposal to become operative
immediately.
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.
Comments may be submitted by any of
the following methods:
rwilkins on PROD1PC63 with NOTICES
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–Amex–2008–06 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–Amex–2008–06. 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 Amex. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
VerDate Aug<31>2005
17:45 Feb 12, 2008
Jkt 214001
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–Amex–2008–06 and should
be submitted on or before March 5,
2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–2614 Filed 2–12–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57285; File No. SR–CBOE–
2008–10]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to Exchange
Membership Fees
February 7, 2008.
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 January
22, 2008, 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 CBOE.
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
Chicago Board Options Exchange,
Incorporated (‘‘CBOE’’ or ‘‘Exchange’’)
proposes to amend its Fees Schedule
relating to its membership application
fees. The text of the proposed rule
change is available at the CBOE, on the
Exchange’s Web site at https://
www.cboe.org/legal, and in 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
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
PO 00000
Frm 00120
Fmt 4703
Sfmt 4703
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 proposed rule
change is to amend the CBOE Fees
Schedule relating to its membership
application fees to add a trading firm
renewal fee (‘‘Trading Firm Renewal
Fee’’). Membership application fees are
set forth in section 11 of the CBOE Fees
Schedule as well as in a regulatory
circular (‘‘Membership Fee Circular’’).
The proposed Trading Firm Renewal
Fee will apply to a former CBOE trading
firm member that reapplies for CBOE
membership within 9 months of its
membership termination date and
becomes an effective CBOE member
within 1 year of its membership
termination date. The Trading Firm
Renewal Fee will encompass the trading
firm application, and related
documentation, and one nominee 3 who
is either (i) an existing individual CBOE
member desiring to change membership
status or (ii) a former individual CBOE
member who reapplies for membership
within 9 months of their membership
termination date and becomes an
effective member within 1 year of their
membership termination date.
The Trading Firm Renewal Fee will
be $2,000.
2. Statutory Basis
The proposed rule change is
consistent with section 6(b) of the Act,4
in general, and furthers the objectives of
section 6(b)(4) 5 of the Act in particular,
in that it is designed to provide for the
equitable allocation of reasonable dues,
fees, and other charges among CBOE
members and other persons using its
facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition that is not
necessary or appropriate in furtherance
of purposes of the Act.
3 A nominee is an individual who is authorized
by a trading firm member, in accordance with CBOE
Rule 3.8, to represent such trading firm member in
all matters relating to the Exchange.
4 15 U.S.C. 78f(b).
5 15 U.S.C. 78f(b)(4).
E:\FR\FM\13FEN1.SGM
13FEN1
]]>Agencies
[Federal Register Volume 73, Number 30 (Wednesday, February 13, 2008)]
[Notices]
[Pages 8381-8382]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-2614]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-57289; File No. SR-Amex-2008-06]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Amending Amex Rule 3-AEMI
February 7, 2008.
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 January 31, 2007, the American Stock Exchange LLC (``Amex'' 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 substantially prepared by the Exchange.
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
The Exchange proposes to amend Amex Rule 3-AEMI to include
provisions regarding the prevention of the misuse of material nonpublic
information by members, member organizations, or persons associated
with such members, pursuant to the Act. The text of the proposed rule
change is available at Amex, the Commission's Public Reference Room,
and https://www.Amex.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 proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. Amex 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposal is to amend Amex Rule 3-AEMI to include
provisions regarding the prevention of the misuse of material nonpublic
information by members, member organizations, or persons associated
with such members, pursuant to section 15(f) of the Act.\5\ section
15(f) requires that every registered broker or dealer establish,
maintain and enforce written policies and procedures reasonably
designed, taking into consideration the nature of such broker's or
dealer's business, to prevent the misuse of material, nonpublic
information by such broker or dealer or any person associated with such
broker or dealer. The Commission previously approved proposals by the
Amex to amend non-AEMI Amex Rule 3 to require members to establish,
maintain and enforce written policies and procedures to prevent the
misuse of material nonpublic information.\6\ This filing proposes to
update Amex Rule 3-AEMI to adopt the rules in non-AEMI Amex Rule 3
concerning the prevention of the misuse of material nonpublic
information, as previously approved by the Commission.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78o(f).
\6\ See Securities Exchange Act Release No. 34-54983 (Dec. 20,
2006), 71 FR 78476 (Dec. 29, 2006) (File No. SR-Amex-2006-86). See
also Securities Exchange Act Release No. 34-55187 (Jan. 29, 2007),
72 FR 5467 (Feb. 6, 2007) (File No. SR-Amex-2006-110).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
section 6(b) of the Act \7\ in general, and furthers the objectives of
section 6(b)(5) \8\ in particular, in that it would remove impediments
to and perfect the mechanism of a free and open market in a manner
consistent with the protection of investors and the public interest.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
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
Because the foregoing proposed rule change does not:
(i) Significantly affect the protection of investors or the public
interest;
(ii) impose any significant burden on competition; and
(iii) become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, if
consistent with the protection of investors and the public interest, it
has become effective pursuant to section 19(b)(3)(A) of the Act and
Rule 19b-4(f)(6) thereunder. As required under Rule 19b-4(f)(6)(iii)
under the Act, the Exchange provided the Commission with written notice
of its intent to file the proposed rule change, along with a brief
description and text of the proposed rule change, at least five
business days prior to the date of the filing of the proposed rule
change.
A proposed rule change filed under 19b-4(f)(6) normally may not
become operative prior to 30 days after the date of filing. However,
Rule 19b-4(f)(6)(iii) permits the Commission to designate a shorter
time if such action is consistent with the protection of investors and
the public interest. The Exchange has requested that the Commission
waive the 30-day operative delay. The Commission believes that waiving
the 30-day operative delay is consistent with the protection of
investors and the public interest. Waiver of the 30-day operative delay
would enable the Exchange to implement and enforce the new provisions
relating to the prevention of the misuse of material nonpublic
information in Amex Rule 3-AEMI immediately. For this reason, the
Commission therefore designates the
[[Page 8382]]
proposal to become operative immediately.
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. 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-Amex-2008-06 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-Amex-2008-06. 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 Amex. 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-Amex-2008-06 and should be
submitted on or before March 5, 2008.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-2614 Filed 2-12-08; 8:45 am]
BILLING CODE 8011-01-P
