Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Change the Name of BATS Holdings, Inc., 79524-79525 [E8-30788]
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79524
Federal Register / Vol. 73, No. 249 / Monday, December 29, 2008 / Notices
dwashington3 on PROD1PC60 with NOTICES
account transactions requested. The
Commission staff estimates that, on
average, each fund group requests
information for 100,000 transactions
each week, incurring costs of $250
weekly, or $13,000 a year.14 In addition,
the Commission staff estimates that
funds pay access fees to use these
information sharing systems (or
comparable internal costs) of
approximately $30,000 each year. The
Commission staff therefore estimates
that a fund group would typically incur
approximately $43,000 in costs each
year related to the operation and
maintenance of information sharing
systems required by rule 22c–2. The
Commission staff has previously
estimated that there are approximately
680 fund groups currently active, and
therefore estimates that all fund groups
incur a total of $29,240,000 in ongoing
costs each year related to maintaining
and operating information sharing
systems.15
Commission staff estimates that it
requires approximately $100,000 to
purchase or develop and implement
such an information sharing system for
the first time. Commission staff has
previously estimated that approximately
22 funds or fund groups are formed each
year managed by new advisers, and
therefore estimates that all these funds
would incur total costs of approximately
$2,200,000.16
Responses provided to the
Commission will be accorded the same
level of confidentiality accorded to
other responses provided to the
Commission in the context of its
examination and oversight program.
Responses provided in the context of
the Commission’s examination and
oversight program are generally kept
confidential. Complying with the
information collections of rule 22c–2 is
mandatory for funds that redeem their
shares within 7 days of purchase. An
agency may not conduct or sponsor, and
a person is not required to respond to
a collection of information unless it
displays a currently valid control
number.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
14 This estimate is based on the following
calculations: (100,000 transaction requests ×
0.0025¢ = $250); ($250 × 52 weeks = $13,000).
15 This estimate is based on the following
calculation: (680 fund groups × $43,000 =
$29,240,000).
16 This estimate is based on the following
estimate: ($100,000 × 22 new fund groups =
$2,200,000).
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13:19 Dec 24, 2008
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(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
Please direct your written comments
to Lewis W. Walker, Acting Director/
CIO, Securities and Exchange
Commission, C/O Shirley Martinson,
6432 General Green Way, Alexandria,
VA 22312; or send an e-mail to:
PRA_Mailbox@sec.gov.
Dated: December 17, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–30782 Filed 12–24–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59114; File No. SR–BATS–
2008–013]
Self-Regulatory Organizations; BATS
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change to Change the Name of
BATS Holdings, Inc.
December 17, 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 December
11, 2008, BATS Exchange, Inc. (‘‘BATS’’
or the ‘‘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 prepared
by the Exchange. BATS has designated
the proposed rule change as one being
concerned solely with the
administration of the Exchange
pursuant to Section 19(b)(3)(A)(iii) of
the Act 3 and Rule 19b–4(f)(3)
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).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6) [sic].
2 17
PO 00000
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I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend: (i)
Its Rule 2.10, (ii) the Amended and
Restated By-Laws of the Exchange, (iii)
the Amended and Restated Certificate of
Incorporation of BATS Holdings, Inc.,
(iv) the Amended and Restated Bylaws
of BATS Holdings, Inc., and (v) the
Investor Rights Agreement of BATS
Holdings, Inc. (collectively, the
‘‘Operative Documents’’) to change the
name of BATS Holdings, Inc. to BATS
Global Markets, Inc.
The text of the proposed rule change
is available at the Exchange’s Web site
at https://www.batstrading.com, at the
principal office of the Exchange, 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 parts 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 the
Operative Documents to change the
name of BATS Holdings, Inc., and
references thereto, to BATS Global
Markets, Inc. In connection with the
filing of the Amended and Restated
Certificate of Incorporation reflecting
the name change, certain additional
changes have been made to comply with
Delaware Corporate law. In addition, the
address listed for BATS Global Markets,
Inc. in the Investor Rights Agreement
has been updated to reflect a new
location.
The name change from BATS
Holdings, Inc. to BATS Global Markets,
Inc. is a non-substantive change. No
changes to the ownership or structure of
the Exchange or BATS Holdings, Inc.
have taken place.
2. Statutory Basis
The Exchange believes the proposal is
consistent with the requirements of the
E:\FR\FM\29DEN1.SGM
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Federal Register / Vol. 73, No. 249 / Monday, December 29, 2008 / Notices
Act and the rules and regulations
thereunder that are applicable to a
national securities exchange, and, in
particular, with the requirements of
Section 6(b).5 In particular, for the
reasons described above, the proposed
change is consistent with Section 6(b)(5)
of the Act,6 because it would promote
just and equitable principles of trade,
remove impediments to, and perfect the
mechanism of, a free and open market
and a national market system, and, in
general, protect investors and the public
interest.
B. Self-Regulatory Organization’s
Statement of Burden on Competition
The Exchange does not believe that
the proposed rule change imposes any
burden on competition.
C. Self-Regulatory Organization’s
Statement on Comments Regarding the
Proposed Rule Changes Received From
Members, Participants or Others
No written comments were solicited
or received.
III. Date of Effectiveness of the
Proposed Rule Changes and Timing for
Commission Action
Because it is concerned solely with
the administration of the Exchange, the
foregoing proposed rule change has
become effective pursuant to Section
19(b)(3)(A)(iii) of the Act 7 and Rule
19b–4(f)(3) thereunder.8 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:
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–BATS–2008–013. 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 BATS. 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–BATS–2008–013 and
should be submitted on or before
January 20, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–30788 Filed 12–24–08; 8:45 am]
BILLING CODE 8011–01–P
dwashington3 on PROD1PC60 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–BATS–2008–013 on the
subject line.
U.S.C. 78(f)(b).
U.S.C. 78f(b)(5).
7 15 U.S.C. 78s(b)(3)(A)(iii).
8 17 CFR 240.19b–4(f)(3).
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59108; File No. SR–FINRA–
2008–063]
Self-Regulatory Organizations:
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to Adoption of
NASD Rules 12805 and 13805 as
FINRA Rules in the New Consolidated
FINRA Rulebook
December 16, 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 December
15, 2008, the Financial Industry
Regulatory Authority, Inc. (‘‘FINRA’’) (f/
k/a National Association of Securities
Dealers, Inc. (‘‘NASD’’)) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II,
and III below, which Items have been
prepared by FINRA. FINRA has
designated the proposed rule change as
concerned solely with the
administration of the self-regulatory
organization under Section 19(b)(3)(A)
of the Act 3 and Rule 19b–4(f)(3)
thereunder,4 which renders the proposal
effective upon receipt of this filing by
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
FINRA is proposing to adopt Rule
12805 of the NASD Code of Arbitration
Procedure for Customer Disputes
(‘‘Customer Code’’) and Rule 13805 of
the NASD Code of Arbitration
Procedure for Industry Disputes
(‘‘Industry Code’’) (collectively, the
‘‘NASD Codes’’) as FINRA rules into a
new consolidated rulebook. Below is the
text of Rules 12805 and 13805. FINRA
is not proposing any changes to the rule
text.
*
*
*
*
*
Customer Code
12805. Expungement of Customer
Dispute Information under Rule 2130
In order to grant expungement of
customer dispute information under
Rule 2130, the panel must:
5 15
1 15
6 15
2 17
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13:19 Dec 24, 2008
9 17
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79525
PO 00000
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)(3).
CFR 200.30–3(a)(12).
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]]>Agencies
[Federal Register Volume 73, Number 249 (Monday, December 29, 2008)]
[Notices]
[Pages 79524-79525]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-30788]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59114; File No. SR-BATS-2008-013]
Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change to Change
the Name of BATS Holdings, Inc.
December 17, 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 December 11, 2008, BATS Exchange, Inc. (``BATS'' or the
``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 prepared by the Exchange. BATS has
designated the proposed rule change as one being concerned solely with
the administration of the Exchange pursuant to Section 19(b)(3)(A)(iii)
of the Act \3\ and Rule 19b-4(f)(3) 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) [sic].
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend: (i) Its Rule 2.10, (ii) the Amended
and Restated By-Laws of the Exchange, (iii) the Amended and Restated
Certificate of Incorporation of BATS Holdings, Inc., (iv) the Amended
and Restated Bylaws of BATS Holdings, Inc., and (v) the Investor Rights
Agreement of BATS Holdings, Inc. (collectively, the ``Operative
Documents'') to change the name of BATS Holdings, Inc. to BATS Global
Markets, Inc.
The text of the proposed rule change is available at the Exchange's
Web site at https://www.batstrading.com, at the principal office of the
Exchange, 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 parts 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 the Operative Documents to change
the name of BATS Holdings, Inc., and references thereto, to BATS Global
Markets, Inc. In connection with the filing of the Amended and Restated
Certificate of Incorporation reflecting the name change, certain
additional changes have been made to comply with Delaware Corporate
law. In addition, the address listed for BATS Global Markets, Inc. in
the Investor Rights Agreement has been updated to reflect a new
location.
The name change from BATS Holdings, Inc. to BATS Global Markets,
Inc. is a non-substantive change. No changes to the ownership or
structure of the Exchange or BATS Holdings, Inc. have taken place.
2. Statutory Basis
The Exchange believes the proposal is consistent with the
requirements of the
[[Page 79525]]
Act and the rules and regulations thereunder that are applicable to a
national securities exchange, and, in particular, with the requirements
of Section 6(b).\5\ In particular, for the reasons described above, the
proposed change is consistent with Section 6(b)(5) of the Act,\6\
because it would promote just and equitable principles of trade, remove
impediments to, and perfect the mechanism of, a free and open market
and a national market system, and, in general, protect investors and
the public interest.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78(f)(b).
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement of Burden on Competition
The Exchange does not believe that the proposed rule change imposes
any burden on competition.
C. Self-Regulatory Organization's Statement on Comments Regarding the
Proposed Rule Changes Received From Members, Participants or Others
No written comments were solicited or received.
III. Date of Effectiveness of the Proposed Rule Changes and Timing for
Commission Action
Because it is concerned solely with the administration of the
Exchange, the foregoing proposed rule change has become effective
pursuant to Section 19(b)(3)(A)(iii) of the Act \7\ and Rule 19b-
4(f)(3) thereunder.\8\ 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A)(iii).
\8\ 17 CFR 240.19b-4(f)(3).
---------------------------------------------------------------------------
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-BATS-2008-013 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-BATS-2008-013. 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 BATS. 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-BATS-2008-013 and should be
submitted on or before January 20, 2009.
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,
Acting Secretary.
[FR Doc. E8-30788 Filed 12-24-08; 8:45 am]
BILLING CODE 8011-01-P
