Self-Regulatory Organizations; Chicago Board Options Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Exchange Regulatory Circular RG02-101 Issued Under Rule 17.50(g)(6)-Imposition of Fines for Minor Rule Violations, 9839-9840 [E9-4757]
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Federal Register / Vol. 74, No. 43 / Friday, March 6, 2009 / Notices
setting body under the Act, and
recognizing the FASB’s financial
accounting and reporting standards as
‘‘generally accepted’’ under Section 108
of the Act.1 As a consequence of that
recognition, the Commission undertook
a review of the FASB’s accounting
support fee for calendar year 2009. In
connection with its review, the
Commission also reviewed the budget
for the FAF and the FASB for calendar
year 2009.
Section 109 of the Act also provides
that the standard setting body can have
additional sources of revenue for its
activities, such as earnings from sales of
publications, provided that each
additional source of revenue shall not
jeopardize, in the judgment of the
Commission, the actual or perceived
independence of the standard setter. In
this regard, the Commission also
considered the interrelation of the
operating budgets of the FAF, the FASB
and the Governmental Accounting
Standards Board (‘‘GASB’’), the FASB’s
sister organization, which sets
accounting standards used by state and
local governmental entities. The
Commission has been advised by the
FAF that neither the FAF, the FASB nor
the GASB accept contributions from the
accounting profession.
After its review, the Commission
determined that the 2009 annual
accounting support fee for the FASB is
consistent with Section 109 of the Act.
Accordingly, it is ordered, pursuant to
Section 109 of the Act, that the FASB
may act in accordance with this
determination of the Commission.
By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–4780 Filed 3–5–09; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
mstockstill on PROD1PC66 with NOTICES
[Release No. 34–59462; File No. SR–CBOE–
2009–010]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Inc.; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change To Amend Exchange
Regulatory Circular RG02–101 Issued
Under Rule 17.50(g)(6)—Imposition of
Fines for Minor Rule Violations
February 26, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
1 Financial
Reporting Release No. 70.
VerDate Nov<24>2008
16:20 Mar 05, 2009
Jkt 217001
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on February
18, 2009, Chicago Board Options
Exchange, Inc. filed with the Securities
and Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Exchange filed the proposal pursuant to
Section 19(b)(3)(A)(iii) of the Act 3 and
Rule 19b–4(f)(3) thereunder.4 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 Chicago Board Options Exchange,
Inc. (‘‘CBOE’’ or ‘‘Exchange’’) proposes
to amend Regulatory Circular RG02–101
(Violations of Trading Conduct and
Decorum Policies) issued in accordance
with Exchange Rule 17.50(g)(6)—
Imposition of Fines for Minor Rule
Violations to provide the Exchange with
the flexibility to allow Exchange
members and their associated persons to
bring certain foods and/or drinks to the
trading floor as set forth by the
Exchange in a separate Regulatory
Circular. CBOE is also proposing several
non-substantive changes. The text of the
proposed rule change is available on the
Exchange’s Web site (https://
www.cboe.com/Legal), at the Exchange’s
Office of the Secretary, and at the
Commission.
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
and is set forth in sections (A), (B), and
(C) below.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
CBOE is proposing to amend
Regulatory Circular RG02–101 to enable
the Exchange to adopt policies
providing exceptions to the existing
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)(3).
prohibition of food and drinks on the
trading floor. In adopting this flexibility,
the Exchange may notify members
through a separate Regulatory Circular
of food or drinks that would be
permissible on the trading floor and, if
applicable, any limitations on such
permissible food and drinks. Violations
of the food or drink policy would
continue to be subject to the existing
fine schedule as set forth in Exhibit 5.
CBOE is proposing to adopt this
flexibility to accommodate Members
and Associated Persons that are unable
to leave the trading floor during the day.
CBOE is also proposing several nonsubstantive changes. First, CBOE is
proposing to remove the previous
Regulatory Circular number as a new
number will be assigned when the
amended circular is issued. In addition,
CBOE is proposing to update the contact
information included on the Regulatory
Circular. In particular, the Exchange is
proposing issue the circular from its
Legal Division and Member and
Regulatory Services Division rather than
the Floor Officials Committee. Further,
CBOE is proposing to amend the
Regulatory Circular to reflect existing
staff that may be contacted regarding
questions about the Regulatory Circular
and remove contact information that is
no longer current. CBOE is also
proposing to delete an unnecessary
comma in the reference to one of the
earlier circulars listed.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) the Act,5 in general, and
furthers the objectives of Section 6(b)(1)
of the Act 6 in particular, to enable the
Exchange to enforce compliance by its
members and persons associated with
its members with the rules of the
Exchange.
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 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.
2 17
PO 00000
Frm 00061
Fmt 4703
Sfmt 4703
9839
5 15
6 15
U.S.C. 78f(b).
U.S.C. 78f(b)(1).
E:\FR\FM\06MRN1.SGM
06MRN1
9840
Federal Register / Vol. 74, No. 43 / Friday, March 6, 2009 / Notices
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(iii) of the Act 7 and Rule
19b–4(f)(3) 8 thereunder because it is
concerned solely with the
administration of the Exchange. 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:
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 the filing will also be available
for inspection and copying at the
principal office of the self-regulatory
organization. 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–
2009–010 and should be submitted on
or before March 27, 2009.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–4757 Filed 3–5–09; 8:45 am]
mstockstill on PROD1PC66 with NOTICES
[Release No. 34–59475; File No. SR–BX–
2009–014]
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–CBOE–2009–010. 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
February 27, 2009.
8 17
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(3).
VerDate Nov<24>2008
16:20 Mar 05, 2009
Jkt 217001
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 these statements may be examined at
the places specified in Item IV below.
The self-regulatory organization has
prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
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–CBOE–2009–010 on the
subject line.
7 15
office of the Exchange, at the
Commission’s Public Reference Room
and also on the Exchange’s Internet Web
site at https://
nasdaqomxbx.cchwallstreet.com/
NASDAQOMXBX/Filings/.
Self-Regulatory Organizations;
NASDAQ OMX BX, Inc.; Notice of Filing
of Proposed Rule Change Relating to
Zero Bid Orders on the Boston Options
Exchange Facility
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 February
26, 2009, NASDAQ OMX BX, Inc. (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 self-regulatory
organization. The Commission is
publishing this notice to solicit
comments on the proposed rule from
interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Chapter V, Section 14 (Order Entry) of
the Rules of the Boston Options
Exchange Group, LLC (‘‘BOX’’) to clarify
the treatment of certain Zero Bid
Orders.3 The text of the proposed rule
change is available from the principal
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Capitalized terms not otherwise defined herein
shall have the meanings set forth in the BOX Rules.
1 15
PO 00000
Frm 00062
Fmt 4703
Sfmt 4703
1. Purpose
The purpose of the proposed rule
change is to amend Chapter V, Section
14 of the BOX Rules to clarify the
treatment of Market Orders to sell and
BOX-Top Orders to sell when the
highest bid on BOX is zero in the
options series for a particular order
(‘‘Zero Bid Order’’). Currently, Section
14 states, in part, that: ‘‘[i]n the case
where the lowest offer for any options
contract is $.05, and an Options
Participant enters a Market Order to sell
that series, any such Market Order shall
be considered a Limit Order to sell at a
price of $.05.’’ 4
The Exchange seeks to amend Chapter
V, Section 14 of the BOX Rules to (1)
clarify the specific circumstances under
which an order will be considered a
Zero Bid Order, (2) address the
treatment of Zero Bid Orders in options
classes that trade in other than $.05
increments, and (3) address the
treatment of Zero Bid Orders that would
cause a locked or crossed market.
The Exchange proposes to amend
Section 14 so that it will apply equally
to Market Orders to sell and BOX-Top
Orders to sell when the highest bid on
BOX is zero in the options series. In this
case such Zero Bid Orders shall be
considered a Limit Order to sell at a
price, above zero, that is equal to the
minimum trading increment applicable
to that particular options series.
Consequently, where the BOX market
displays a zero bid and the options
4 See
E:\FR\FM\06MRN1.SGM
Chapter V, Section 14 of the BOX Rules.
06MRN1
]]>Agencies
[Federal Register Volume 74, Number 43 (Friday, March 6, 2009)]
[Notices]
[Pages 9839-9840]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-4757]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59462; File No. SR-CBOE-2009-010]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change To Amend Exchange Regulatory Circular RG02-101 Issued Under Rule
17.50(g)(6)--Imposition of Fines for Minor Rule Violations
February 26, 2009.
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 February 18, 2009, Chicago Board Options Exchange, Inc. filed
with the Securities and Exchange Commission (the ``Commission'') the
proposed rule change as described in Items I, II, and III below, which
Items have been prepared by the Exchange. The Exchange filed the
proposal pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and Rule
19b-4(f)(3) thereunder.\4\ 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)(3).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Chicago Board Options Exchange, Inc. (``CBOE'' or ``Exchange'')
proposes to amend Regulatory Circular RG02-101 (Violations of Trading
Conduct and Decorum Policies) issued in accordance with Exchange Rule
17.50(g)(6)--Imposition of Fines for Minor Rule Violations to provide
the Exchange with the flexibility to allow Exchange members and their
associated persons to bring certain foods and/or drinks to the trading
floor as set forth by the Exchange in a separate Regulatory Circular.
CBOE is also proposing several non-substantive changes. The text of the
proposed rule change is available on the Exchange's Web site (https://
www.cboe.com/Legal), at the Exchange's Office of the Secretary, and at
the Commission.
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 and is set forth in sections (A),
(B), and (C) below.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
CBOE is proposing to amend Regulatory Circular RG02-101 to enable
the Exchange to adopt policies providing exceptions to the existing
prohibition of food and drinks on the trading floor. In adopting this
flexibility, the Exchange may notify members through a separate
Regulatory Circular of food or drinks that would be permissible on the
trading floor and, if applicable, any limitations on such permissible
food and drinks. Violations of the food or drink policy would continue
to be subject to the existing fine schedule as set forth in Exhibit 5.
CBOE is proposing to adopt this flexibility to accommodate Members and
Associated Persons that are unable to leave the trading floor during
the day.
CBOE is also proposing several non-substantive changes. First, CBOE
is proposing to remove the previous Regulatory Circular number as a new
number will be assigned when the amended circular is issued. In
addition, CBOE is proposing to update the contact information included
on the Regulatory Circular. In particular, the Exchange is proposing
issue the circular from its Legal Division and Member and Regulatory
Services Division rather than the Floor Officials Committee. Further,
CBOE is proposing to amend the Regulatory Circular to reflect existing
staff that may be contacted regarding questions about the Regulatory
Circular and remove contact information that is no longer current. CBOE
is also proposing to delete an unnecessary comma in the reference to
one of the earlier circulars listed.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) the Act,\5\ in general, and furthers the objectives
of Section 6(b)(1) of the Act \6\ in particular, to enable the Exchange
to enforce compliance by its members and persons associated with its
members with the rules of the Exchange.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(1).
---------------------------------------------------------------------------
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 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.
[[Page 9840]]
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(iii) of the Act \7\ and Rule 19b-4(f)(3) \8\ thereunder
because it is concerned solely with the administration of the Exchange.
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-CBOE-2009-010 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-CBOE-2009-010. 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 the filing will also be available for
inspection and copying at the principal office of the self-regulatory
organization. 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-2009-010 and should be submitted on or before March 27, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
Florence E. Harmon,
Deputy Secretary.
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
[FR Doc. E9-4757 Filed 3-5-09; 8:45 am]
BILLING CODE 8011-01-P
