Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend Until October 1, 2008 the Adoption of Interim NYSE Rule 128 (Clearly Erroneous Executions), 47247-47249 [E8-18700]
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Federal Register / Vol. 73, No. 157 / Wednesday, August 13, 2008 / Notices
BILLING CODE 3110–01–P
OFFICE OF THE UNITED STATES
TRADE REPRESENTATIVE
Revised Fiscal Year 2008 Tariff-Rate
Quota Allocations for Refined Sugar
Office of the United States
Trade Representative.
ACTION: Notice.
SECURITIES AND EXCHANGE
COMMISSION
Susan C. Schwab,
United States Trade Representative.
[FR Doc. E8–18769 Filed 8–12–08; 8:45 am]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Extend Until
October 1, 2008 the Adoption of
Interim NYSE Rule 128 (Clearly
Erroneous Executions)
SECURITIES AND EXCHANGE
COMMISSION
Danny Werfel,
Deputy Controller.
[FR Doc. E8–18783 Filed 8–12–08; 8:45 am]
under the tariff-rate quota for refined
sugar that is the product of a country
that has been allocated a share of the
tariff-rate quota for refined sugar.
BILLING CODE 3190–W8–P
regulations that specify financial
reporting requirements.
August 6, 2008.
AGENCY:
ebenthall on PRODPC60 with NOTICES
Sunshine Act Meeting
The Office of the United
States Trade Representative (USTR) is
providing notice of additional countryby-country allocations of the in-quota
quantity of the tariff-rate quotas for
imported refined sugar for the period
August 14, 2008 through December 31,
2008 (FY 2008).
DATES: Effective Date: August 13, 2008.
ADDRESSES: Inquiries may be mailed or
delivered to Leslie O’Connor, Director of
Agricultural Affairs, Office of
Agricultural Affairs, Office of the United
States Trade Representative, 600 17th
Street, NW., Washington, DC 20508.
FOR FURTHER INFORMATION CONTACT:
Leslie O’Connor, Office of Agricultural
Affairs, telephone: 202–395–6127 or
facsimile: 202–395–4579.
SUPPLEMENTARY INFORMATION: Pursuant
to Additional U.S. Note 5 to chapter 17
of the Harmonized Tariff Schedule of
the United States (HTS), the United
States maintains a tariff-rate quota for
imports of refined sugar.
Section 404(d)(3) of the Uruguay
Round Agreements Act (19 U.S.C.
3601(d)(3)) authorizes the President to
allocate the in-quota quantity of a tariffrate quota for any agricultural product
among supplying countries or customs
areas. The President delegated this
authority to the United States Trade
Representative under Presidential
Proclamation 6763 (60 FR 1007).
On August 6, 2008, the Secretary of
Agriculture increased the in-quota
quantity of the tariff-rate quota for
refined sugar for FY 2008 by 272,155
metric tons raw value, none of which is
for specialty sugars. A total of 40,000
metric tons raw value is being allocated
to Canada. A total of 68,278 metric tons
raw value is being allocated to Mexico.
The remaining 163,877 metric tons raw
value of the in-quota quantity may be
supplied by any country on a first-come,
first-served basis, subject to any other
provision of law. The certificate of quota
eligibility is required for sugar entering
SUMMARY:
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47247
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a Closed Meeting
on August 8, 2008 at 11:30 a.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in
5 U.S.C. 552b(c)(10) and 17 CFR
200.402(a)(10), permit consideration of
the scheduled matters at the Closed
Meeting.
Commissioner Casey, as duty officer,
voted to consider the items listed for the
Closed Meeting in closed session, and
determined that no earlier notice thereof
was possible.
The subject matter of the Closed
Meeting scheduled for August 8, 2008
will be: Institution and settlement of
injunctive actions; and other matters
related to enforcement proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact:
The Office of the Secretary at (202)
551–5400.
Dated: August 8, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–18796 Filed 8–12–08; 8:45 am]
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on July 28,
2008, New York Stock Exchange LLC
(‘‘NYSE’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been substantially prepared by the selfregulatory organization. NYSE
designated the proposed rule change as
‘‘non-controversial’’ under Section
19(b)(3)(A)(iii) 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
The Exchange proposes to extend
until October 1, 2008, the adoption of
interim NYSE Rule 128 (‘‘Clearly
Erroneous Executions for NYSE
Equities’’). The text of the proposed rule
change is available at the Exchange, the
Commission’s Public Reference Room,
and https://www.nyse.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
self-regulatory organization 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 those 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 parts of such
statements.
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
BILLING CODE 8010–01–P
PO 00000
[Release No. 34–58323; File No. SR–YSE–
2008–63]
2 17
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47248
Federal Register / Vol. 73, No. 157 / Wednesday, August 13, 2008 / Notices
B. Self-Regulatory Organization’s
Statement on Burden on Competition
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to extend
until October 1, 2008, the adoption of
interim NYSE Rule 128 (‘‘Clearly
Erroneous Executions for NYSE
Equities’’), which permits the Exchange
to cancel or adjust clearly erroneous
executions if they arise out of the use or
operation of any quotation, execution or
communication system owned or
operated by the Exchange, including
those executions that occur in the event
of a system disruption or system
malfunction.
Prior to the implementation of NYSE
Rule 128 on January 28, 2008,5 the
NYSE did not have a rule providing the
Exchange with the authority to cancel or
adjust clearly erroneous trades of
securities executed on or through the
systems and facilities of the NYSE.
In order for the NYSE to be consistent
with other national securities exchanges
which have some version of a clearly
erroneous execution rule, the Exchange
is drafting an amended clearly
erroneous rule which will accommodate
such other exchanges, but will be
appropriate for the NYSE market model.
Accordingly, the Exchange requests
an extension until October 1, 2008 of
the adoption of NYSE Rule 128 in order
to finalize its clearly erroneous rule. The
NYSE is mindful that the Commission
approved an amended clearly erroneous
execution rule for Nasdaq in May 2008.6
The Exchange is currently reviewing the
provisions in the Nasdaq’s clearly
erroneous execution rule and is
considering the adoption of such
provisions for an Exchange rule
amendment.
2. Statutory Basis
ebenthall on PRODPC60 with NOTICES
The Exchange believes the proposed
rule change is consistent with and
furthers the objectives of Section 6(b)(5)
of the Act,7 in that it is designed to
prevent fraudulent and manipulative
practices, to promote just and equitable
principles of trade, to remove
impediments to and perfect the
mechanisms of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest.
5 See Securities Exchange Act Release No. 57323
(February 13, 2008), 73 FR 9371 (February 20, 2008)
(SR–NYSE–2008–09).
6 See Securities Exchange Act Release No. 57826
(May 15, 2008), 73 FR 29802 (May 22, 2008) (SR–
NASDAQ–2007–001).
7 15 U.S.C. 78f(b)(5).
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15:38 Aug 12, 2008
Jkt 214001
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 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 after the date of
filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, the proposed rule
change has become effective pursuant to
Section 19(b)(3)(A) of the Act 8 and
subparagraph (f)(6) of Rule 19b–4
thereunder.9
A proposed rule change filed under
Rule 19b–4(f)(6) normally may not
become operative prior to the 30th day
after the date of filing.10 However, Rule
19b–4(f)(6)(iii) 11 permits the
Commission to designate a shorter time
if such action is consistent with the
protection of investors and the public
interest.12
The Exchange has requested that the
Commission waive the 30-day operative
delay. The Exchange believes that the
waiver of this period will allow it to
immediately and timely enable the
NYSE to cancel or adjust clearly
erroneous trades that may present a risk
to the integrity of the equities markets
and all related markets. According to
the Exchange, the proposed rule change
also will allow the Exchange to protect
customers and the public interest and to
continue to provide economically
efficient execution of securities
transactions.
8 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
10 See 17 CFR 240.19b–4(f)(6)(iii).
11 Id.
12 In addition, Rule 19b–4(f)(6)(iii) requires a selfregulatory organization to give the Commission
written notice of its intent to file the proposed rule
change at least five business days prior to the date
of filing of the proposed rule change, or such
shorter time as designated by the Commission. The
Commission has determined to waive the five-day
prefiling period in this case.
9 17
PO 00000
Frm 00123
Fmt 4703
Sfmt 4703
The Commission believes that
waiving the 30-day operative delay will
allow the Exchange to continue to
immediately and timely cancel or adjust
trades that it determines to be clearly
erroneous under Rule 128. The
Commission believes that the extension
of NYSE Rule 128 until October 1, 2008
will allow the Exchange to continue to
apply the rule without interruption and
is consistent with the protection of
investors and the public interest. The
Commission hereby designates the
proposal as operative upon filing.13
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
the 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 rulecomments@sec.gov. Please include File
Number SR–NYSE–2008–63 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSE–2008–63. 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
13 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
E:\FR\FM\13AUN1.SGM
13AUN1
Federal Register / Vol. 73, No. 157 / Wednesday, August 13, 2008 / Notices
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 NYSE. 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–NYSE–2008–63 and should
be submitted on or before September 3,
2008.
Rich, Management Analyst, 202–205–
7030, curtis.rich@sba.gov.
SUPPLEMENTARY INFORMATION: The U.S.
Small Business Administration, Office
of Native American Affairs (ONAA), is
continuing a Native American initiative
that will provide Native American
Tribes economic development through
the use of the Tribal Self Assessment
Tool.
Title: ‘‘Tribal Self Assessment Tool.’’
Description of Respondents: Native
Americans.
Form Number: N/A.
Annual Responses: 1,000.
Annual Burden: 2,000.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–18700 Filed 8–12–08; 8:45 am]
SMALL BUSINESS ADMINISTRATION
BILLING CODE 8010–01–P
SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public
Comments and Recommendations
Notice and request for
comments.
ebenthall on PRODPC60 with NOTICES
ACTION:
SUMMARY: In accordance with the
Paperwork Reduction Act of 1995, this
notice announces the Small Business
Administration’s intentions to request
approval on a new and/or currently
approved information collection.
DATES: Submit comments on or before
October 14, 2008.
ADDRESSES: Send all comments
regarding whether this information
collection is necessary for the proper
performance of the function of the
agency, whether the burden estimates
are accurate, and if there are ways to
minimize the estimated burden and
enhance the quality of the collection, to
Delcine Montgomery, Business
Development Specialist, Office of Native
American Affairs, Small Business
Administration, 409 3rd Street, SW.,
6th Floor, Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT:
Delcine Montgomery, Business
Development Specialist, Office of Native
American Affairs, 202–205–6195,
delcine.montgomery@sba.gov, Curtis B.
14 17
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
15:38 Aug 12, 2008
Jkt 214001
Jacqueline White,
Chief, Administrative Information Branch.
[FR Doc. E8–18704 Filed 8–12–08; 8:45 am]
BILLING CODE 8025–01–P
[License No. 06/76–0330]
SunTx Fulcrum Fund II—SBIC, L.P.;
Notice Seeking Exemption Under
Section 312 of the Small Business
Investment Act, Conflicts of Interest
Notice is hereby given that SunTx
Fulcrum Fund II—SBIC, L.P., Two
Lincoln Centre, 5420 LBJ Freeway, Suite
1000, Dallas, Texas 75240, a Federal
Licensee under the Small Business
Investment Act of 1958, as amended
(‘‘the Act’’), in connection with the
financing of a small concern, has sought
SBA’s prior written approval under
section 312 of the Act and section
107.730(d), Financings with Associates,
of the Small Business Administration
(‘‘SBA’’) rules and regulations (13 CFR
107.730 (2002)). SunTx Fulcrum Fund
II—SBIC, L.P. proposes to invest in
NationsBuilders Insurance Services, Inc.
(‘‘NBIS’’). The financing will provide
the funding for the information system
improvement and growth of the
business.
The financing is brought within the
purview of Section 107.730(d) of the
Regulations because SunTx Fulcrum
Fund, L.P. and SunTx Fulcrum Dutch
Investors, L.P., Associates of SunTx
Fulcrum Fund II—SBIC, L.P., own more
than 5% of outstanding ownership of
NBIS. Therefore, this transaction is
considered as a financing with
Associates requiring SBA’s prior
approval.
Notice is hereby given that any
interested person may submit written
comments on the transaction, within 15
days of the date of this publication, to
the Associate Administrator for
Investment, U.S. Small Business
PO 00000
Frm 00124
Fmt 4703
Sfmt 4703
47249
Administration, 409 Third Street, SW.,
Washington, DC 20416.
Dated: July 9, 2008.
A. Joseph Shepard,
Associate Administrator For Investment.
[FR Doc. E8–18522 Filed 8–12–08; 8:45 am]
BILLING CODE 8025–01–P
DEPARTMENT OF STATE
[Public Notice 6314]
Culturally Significant Objects Imported
for Exhibition Determinations: ‘‘Louvre
Atlanta: The Louvre and the
Masterpiece’’
SUMMARY: Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), Executive Order 12047 of March
27, 1978, the Foreign Affairs Reform and
Restructuring Act of 1998 (112 Stat.
2681, et seq.; 22 U.S.C. 6501 note, et
seq.), Delegation of Authority No. 234 of
October 1, 1999, Delegation of Authority
No. 236 of October 19, 1999, as
amended, and Delegation of Authority
No. 257 of April 15, 2003 [68 FR 19875],
I hereby determine that the objects to be
included in the exhibition ‘‘Louvre
Atlanta: The Louvre and the
Masterpiece,’’ imported from abroad for
temporary exhibition within the United
States, are of cultural significance. The
objects are imported pursuant to loan
agreements with the foreign owner or
custodian. I also determine that the
exhibition or display of the exhibit
objects at the High Museum of Art,
Atlanta, GA, from on or about October
11, 2008, until on or about September 6,
2009; at the Minneapolis Institute of
Arts, Minneapolis, MN, from on or
about October 18, 2009, to on or about
January 10, 2010; and at possible
additional exhibitions or venues yet to
be determined, is in the national
interest. Public Notice of these
Determinations is ordered to be
published in the Federal Register.
For
further information, including a list of
the exhibit objects, contact Carol B.
Epstein, Attorney-Adviser, Office of the
Legal Adviser, U.S. Department of State
(telephone: 202/453–8048). The address
is U.S. Department of State, SA–44, 301
4th Street, SW., Room 700, Washington,
DC 20547–0001.
FOR FURTHER INFORMATION CONTACT:
E:\FR\FM\13AUN1.SGM
13AUN1
]]>Agencies
[Federal Register Volume 73, Number 157 (Wednesday, August 13, 2008)]
[Notices]
[Pages 47247-47249]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-18700]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-58323; File No. SR-YSE-2008-63]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Extend Until October 1, 2008 the Adoption of Interim NYSE Rule 128
(Clearly Erroneous Executions)
August 6, 2008.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on July 28, 2008, New York Stock Exchange LLC (``NYSE'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
below, which Items have been substantially prepared by the self-
regulatory organization. NYSE designated the proposed rule change as
``non-controversial'' under Section 19(b)(3)(A)(iii) 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)(iii).
\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 extend until October 1, 2008, the adoption
of interim NYSE Rule 128 (``Clearly Erroneous Executions for NYSE
Equities''). The text of the proposed rule change is available at the
Exchange, the Commission's Public Reference Room, and https://
www.nyse.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 self-regulatory organization
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 those 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 parts of such statements.
[[Page 47248]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to extend until October 1, 2008, the adoption
of interim NYSE Rule 128 (``Clearly Erroneous Executions for NYSE
Equities''), which permits the Exchange to cancel or adjust clearly
erroneous executions if they arise out of the use or operation of any
quotation, execution or communication system owned or operated by the
Exchange, including those executions that occur in the event of a
system disruption or system malfunction.
Prior to the implementation of NYSE Rule 128 on January 28,
2008,\5\ the NYSE did not have a rule providing the Exchange with the
authority to cancel or adjust clearly erroneous trades of securities
executed on or through the systems and facilities of the NYSE.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 57323 (February 13,
2008), 73 FR 9371 (February 20, 2008) (SR-NYSE-2008-09).
---------------------------------------------------------------------------
In order for the NYSE to be consistent with other national
securities exchanges which have some version of a clearly erroneous
execution rule, the Exchange is drafting an amended clearly erroneous
rule which will accommodate such other exchanges, but will be
appropriate for the NYSE market model.
Accordingly, the Exchange requests an extension until October 1,
2008 of the adoption of NYSE Rule 128 in order to finalize its clearly
erroneous rule. The NYSE is mindful that the Commission approved an
amended clearly erroneous execution rule for Nasdaq in May 2008.\6\ The
Exchange is currently reviewing the provisions in the Nasdaq's clearly
erroneous execution rule and is considering the adoption of such
provisions for an Exchange rule amendment.
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 57826 (May 15,
2008), 73 FR 29802 (May 22, 2008) (SR-NASDAQ-2007-001).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
and furthers the objectives of Section 6(b)(5) of the Act,\7\ in that
it is designed to prevent fraudulent and manipulative practices, to
promote just and equitable principles of trade, to remove impediments
to and perfect the mechanisms of a free and open market and a national
market system, and, in general, to protect investors and the public
interest.
---------------------------------------------------------------------------
\7\ 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 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 after the date of filing, or such shorter time as the Commission
may designate if consistent with the protection of investors and the
public interest, the proposed rule change has become effective pursuant
to Section 19(b)(3)(A) of the Act \8\ and subparagraph (f)(6) of Rule
19b-4 thereunder.\9\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) normally may
not become operative prior to the 30th day after the date of
filing.\10\ However, Rule 19b-4(f)(6)(iii) \11\ permits the Commission
to designate a shorter time if such action is consistent with the
protection of investors and the public interest.\12\
---------------------------------------------------------------------------
\10\ See 17 CFR 240.19b-4(f)(6)(iii).
\11\ Id.
\12\ In addition, Rule 19b-4(f)(6)(iii) requires a self-
regulatory organization to give the Commission written notice of its
intent to file the proposed rule change at least five business days
prior to the date of filing of the proposed rule change, or such
shorter time as designated by the Commission. The Commission has
determined to waive the five-day prefiling period in this case.
---------------------------------------------------------------------------
The Exchange has requested that the Commission waive the 30-day
operative delay. The Exchange believes that the waiver of this period
will allow it to immediately and timely enable the NYSE to cancel or
adjust clearly erroneous trades that may present a risk to the
integrity of the equities markets and all related markets. According to
the Exchange, the proposed rule change also will allow the Exchange to
protect customers and the public interest and to continue to provide
economically efficient execution of securities transactions.
The Commission believes that waiving the 30-day operative delay
will allow the Exchange to continue to immediately and timely cancel or
adjust trades that it determines to be clearly erroneous under Rule
128. The Commission believes that the extension of NYSE Rule 128 until
October 1, 2008 will allow the Exchange to continue to apply the rule
without interruption and is consistent with the protection of investors
and the public interest. The Commission hereby designates the proposal
as operative upon filing.\13\
---------------------------------------------------------------------------
\13\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate the 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-NYSE-2008-63 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSE-2008-63. 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
[[Page 47249]]
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 NYSE. 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-NYSE-2008-63 and should be submitted on or before
September 3, 2008.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-18700 Filed 8-12-08; 8:45 am]
BILLING CODE 8010-01-P
