Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Regarding Exposure of Reserve Orders, 47631-47633 [E9-22245]
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Federal Register / Vol. 74, No. 178 / Wednesday, September 16, 2009 / Notices
substantive change into the
Consolidated FINRA Rulebook as
FINRA Rule 3310 (AML Compliance
Program). In addition, the proposed rule
change would adopt NASD IM–3011–2,
without substantive change, as
supplementary material to proposed
FINRA Rule 3310.
With respect to NASD IM–3011–1, the
proposed rule change would adopt its
provisions as supplementary material to
proposed FINRA Rule 3310, but would
eliminate the independent testing
exception. The Financial Crimes
Enforcement Network (‘‘FinCEN’’), a
bureau within the Department of the
Treasury that is responsible for
administering the BSA and its
implementing regulations, has stated
that the independent testing provision
of the BSA 9 precludes AML program
testing by personnel with an interest in
the outcome of the testing and that an
independent testing exception, such as
the one in NASD IM–3011–1, is
inconsistent with the BSA’s
independent testing provision and
FinCEN’s interpretation of this
provision.10 Accordingly, consistent
with FinCEN’s guidance, FINRA is
proposing to eliminate the independent
testing exception in connection with its
adoption of proposed FINRA Rule 3310.
Finally, as stated previously, the
proposed rule change would delete
Incorporated NYSE Rule 445 and its
related supplementary material in their
entirety as duplicative. FINRA will
announce the implementation date of
the proposed rule change in a
Regulatory Notice to be published no
later than 90 days following
Commission approval.
srobinson on DSKHWCL6B1PROD with NOTICES
III. Comment Letters
Seven commenters raised objections
to the elimination of the independent
testing exception.11 Three commenters
expressed their view that the exception
was being eliminated to address a
problem that has not been shown to
exist.12 These commenters also took
exception with FinCEN’s view that the
independent testing exception was
9 See 31 U.S.C. 5318(h)(1)(D). See also 31 CFR
103.120 (AML programs requirements for financial
institutions regulated by, among others, selfregulatory organizations).
10 See Letter from Jamal El-Hindi, Associate
Director, Regulatory Policy & Programs Division,
FinCEN, to Nancy M. Morris, Secretary, SEC
(August 22, 2007) (‘‘FinCEN Comment Letter’’).
FinCEN submitted the letter to the SEC in response
to the NYSE’s ‘‘omnibus filing,’’ which sought to
achieve greater harmonization between the NYSE
and NASD rules, including the AML compliance
program rules (SR–NYSE–2007–22). See Securities
Exchange Act Release No. 56142 (July 16, 2007), 72
FR 42195 (August 1, 2007).
11 See supra note 4.
12 Cutter, Dorn, and Nestlerode.
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Jkt 217001
inconsistent with the requirements of
the BSA.13 Commenters also expressed
concern that elimination of the
independent testing exception would
require small firms to incur additional
expenses.14 Some commenters also
suggested that FINRA should seek
additional member comment on the
proposed elimination of the
independent testing exception.15 In
responding to the comments, FINRA
stated that it was proposing to eliminate
the independent testing exception to be
consistent with FinCEN’s views
regarding the BSA’s independent testing
requirements.16
IV. Discussion and Findings
After a careful review of the proposal,
the comments received, and FINRA’s
Response, the Commission finds that
the proposed rule change is consistent
with the requirements of the Exchange
Act and the rules and regulations
thereunder applicable to FINRA.17 In
particular, the Commission finds that
the proposed rule change is consistent
with Section 15A(b)(6) of the Exchange
Act,18 which requires, among other
things, that FINRA’s rules be designed
to prevent fraudulent and manipulative
practices and to promote just and
equitable principles of trade.
The Commission finds that the
proposed rule change is reasonably
designed to accomplish these ends by
aligning the independent testing
requirements of proposed FINRA Rule
3310 with FinCEN’s interpretation of
the BSA’s independent testing
requirement. The Commission notes in
particular that FinCEN is responsible for
administering the BSA and its
implementing regulations. In light of
FinCEN’s view that the independent
testing provisions of the BSA preclude
AML program testing by persons with
an interest in the outcome of the test,
the independent testing exception in
NASD IM–3011–1, is not consistent
with the BSA.19
13 Id. The commenters asserted that employees of
a small broker-dealer have an interest in bringing
problems to light, not ignoring them.
14 Cutter, Dorn, Joseph James, RW Smith, Sage
Rutty, and Trubee Collins.
15 Nestlerode, Cutter, RW Smith, and Dorn.
16 See FINRA’s Response, supra note 5. See also
FinCEN Comment Letter, supra note 10 and
accompanying text.
17 In approving this proposed rule change, the
Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
18 15 U.S.C. 78o–3(b)(6).
19 See FinCEN Comment Letter, supra note 10 and
accompanying text.
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47631
V. Conclusion
It is therefore concluded, pursuant to
Section 19(b)(2) of the Exchange Act,20
that the proposed rule change (SR–
FINRA–2009–039) be, and hereby is,
approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.21
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–22240 Filed 9–15–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60642; File No. SR–ISE–
2009–61]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Regarding Exposure of
Reserve Orders
September 9, 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 August
27, 2009, the International Securities
Exchange, LLC (the ‘‘Exchange’’ or the
‘‘ISE’’) filed with the Securities and
Exchange 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 change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is proposing to amend
its rules to adopt an interpretation to its
rules related to the exposure of reserve
orders. The text of the proposed rule
change is as follows, with additions in
italics:
Rule 717. Limitations on Orders
(a) through (g) no change.
Supplementary Material to Rule 717
.01–.04 no change.
.05 With respect to the non-displayed
reserve portion of a reserve order, the
exposure requirement of paragraphs (d)
and (e) are satisfied if the displayable
20 15
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
21 17
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Federal Register / Vol. 74, No. 178 / Wednesday, September 16, 2009 / Notices
portion of the reserve order is displayed
at its displayable price for one second.
*
*
*
*
*
srobinson on DSKHWCL6B1PROD with NOTICES
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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
(a) Purpose—The purpose of the
proposal is to adopt an interpretation to
ISE Rule 717(d) and (e) to specify that
the exposure requirement contained in
these paragraphs is satisfied with
respect to the non-displayed reserve
portion of a reserve order if the
displayable portion is displayed at its
displayable price for one second. A
reserve order is an order where only a
portion of the full size is included in the
Exchange’s disseminated quotation.3
The displayed size is executed
according to the Exchange’s regular
priority rules, and is refreshed with
additional volume from the nondisplayed portion of the order. The nondisplayed portion of the reserve order is
available for execution only after the
exchange’s displayed quote is fully
exhausted.
Under the proposed interpretation,
after entering a reserve order, a member
may enter a contra-side order for its own
account or a contra-side order that was
solicited from another broker-dealer that
would execute against the displayable
and non-displayed portions of the order
so long as the displayable portion of the
order was displayed on the ISE (i.e., the
price of the order is at the ISE BBO) for
at least one second. This proposed
interpretation is the same as an existing
interpretation to the rule of the Nasdaq
Options Market that contains the same
exposure requirements as ISE Rule
717(d) and (e).4 Accordingly, the
Commission has previously determined
that display of the displayable portion
of a reserve order is sufficient to satisfy
the exposure requirements of ISE Rule
717(d) and (e).
(b) Basis—The basis under the Act for
this proposed rule change is the
requirement under Section 6(b)(5) that
an exchange have rules that are
designed to promote just and equitable
principles of trade, and to remove
impediments to and perfect the
mechanism for a free and open market
and a national market system, and in
general, to protect investors and the
public interest. In particular, the
proposal is the same as an existing rule
of another exchange,5 and will provide
members with certainty with respect to
the applicable exposure requirements
for reserve orders.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
impose any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
This proposed rule change does not
significantly affect the protection of
investors or the public interest, does not
impose any significant burden on
competition, and, by its terms, does not
become operative for 30 days after the
date of the filing, or such shorter time
as the Commission may designate if
consistent with the protection of
investors and the public interest. 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 filing
the proposed rule change as required by
Rule 19b–4(f)(6).6 The proposed rule
change is the same as a rule that the
Commission has previously approved
for another self-regulatory organization.7
For the foregoing reason, this rule filing
qualifies for immediate effectiveness as
a ‘‘non-controversial’’ rule change under
3 ISE
5 Id.
4 Nasdaq
6 17
Rule 715(g).
Rules, Chapter VII, Sec. 12 (Order
Exposure Requirements), Commentary .03.
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17:40 Sep 15, 2009
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CFR 240.19b–4(f)(6).
note 4.
7 Supra
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Sfmt 4703
paragraph (f)(6) of Rule 19b–4 of the
Act.
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 proposal 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–ISE–2009–61 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–ISE–2009–61. 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 ISE. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
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Federal Register / Vol. 74, No. 178 / Wednesday, September 16, 2009 / Notices
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–ISE–2009–61 and should be
submitted on or before October 7, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–22245 Filed 9–15–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60640; File No. SR–FINRA–
2009–056]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to Fee for
Investment Banking Representative
Examination
September 9, 2009.
srobinson on DSKHWCL6B1PROD with NOTICES
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
26, 2009, Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’) 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
‘‘establishing or changing a due, fee or
other charge’’ under Section
19(b)(3)(A)(ii) of the Act 3 and Rule 19b–
4(f)(2) 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 amend
Schedule A to the FINRA By-Laws to
establish a fee for the new Investment
Banking Representative Examination
(‘‘Series 79’’).
The text of the proposed rule change
is available on FINRA’s Web site at
https://www.finra.org, at the principal
office of FINRA and at the
Commission’s Public Reference Room.
8 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
1 15
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17:40 Sep 15, 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,
FINRA 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. FINRA 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
On April 13, 2009, the Commission
approved NASD Rule 1032(i), which
establishes a new limited representative
category—Limited RepresentativeInvestment Banking—for persons whose
activities are limited to investment
banking and those who supervise such
activities.5 FINRA has developed the
Series 79 program to ensure that persons
associated with FINRA members
seeking to register as investment
banking representatives have attained
specified levels of competence and
knowledge. On July 28, 2009, FINRA
filed with the Commission the Series 79
selection specifications and content
outline.6 The examination will be
implemented on November 2, 2009.7
The proposed rule change would
amend Section 4 of Schedule A to
FINRA By-Laws to establish a fee of
$265 for an associated person to take the
Series 79 exam. The fee is the same as
that for the General Securities
Representative exam (‘‘Series 7’’) 8 and
is based on the costs to FINRA to
develop and administer the exam.
FINRA has filed the proposed rule
change for immediate effectiveness. The
5 See Securities Exchange Act Release No. 59757
(April 13, 2009), 74 FR 18268 (April 21, 2009)
(Order Approving File No. SR–FINRA–2009–006).
6 See Securities Exchange Act Release No. 60424
(August 4, 2009), 74 FR 39984 (August 10, 2009)
(Notice of Filing and Immediate Effectiveness; File
No. SR–FINRA–2009–049).
7 See Regulatory Notice 09–41 (July 2009).
8 Within the six-month period following the
implementation of Rule 1032(i), individuals who
are registered as a General Securities Representative
and function in a member’s investment banking
business line as described in Rule 1032(i) may opt
in to the Limited Representative-Investment
Banking registration category. After the six-month
opt-in period, individuals who perform the job
functions set out in Rule 1032(i) will be required
to pass the Series 79 exam in lieu of the General
Securities Representative (‘‘Series 7’’) exam (or
equivalent exams), unless subject to an exception in
the Rule.
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47633
implementation date will be November
2, 2009, to coincide with the
implementation date of NASD Rule
1032(i).
2. Statutory Basis
FINRA believes that the proposed rule
change is consistent with the Act,
including Section 15A(b)(5) of the Act,9
which requires, among other things, that
FINRA rules provide for the equitable
allocation of reasonable dues, fees, and
other charges among members and
issuers and other persons using any
facility or system that FINRA operates
or controls. FINRA believes the
proposed rule change is designed to
accomplish these ends by equitably
assessing the costs associated with
developing and administering the
examination program.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
FINRA does not believe that the
proposed rule change will result in 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
Written comments were neither
solicited nor received.
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)
of the Act 10 and subparagraph (f)(2) of
Rule 19b–4 thereunder.11 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:
9 15
U.S.C. 78o–3(b)(5).
U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(2).
10 15
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]]>Agencies
[Federal Register Volume 74, Number 178 (Wednesday, September 16, 2009)]
[Notices]
[Pages 47631-47633]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-22245]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-60642; File No. SR-ISE-2009-61]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Regarding Exposure of Reserve Orders
September 9, 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 August 27, 2009, the International Securities Exchange, LLC
(the ``Exchange'' or the ``ISE'') filed with the Securities and
Exchange 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 change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange is proposing to amend its rules to adopt an
interpretation to its rules related to the exposure of reserve orders.
The text of the proposed rule change is as follows, with additions in
italics:
Rule 717. Limitations on Orders
(a) through (g) no change.
Supplementary Material to Rule 717
.01-.04 no change.
.05 With respect to the non-displayed reserve portion of a reserve
order, the exposure requirement of paragraphs (d) and (e) are satisfied
if the displayable
[[Page 47632]]
portion of the reserve order is displayed at its displayable price for
one second.
* * * * *
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.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
(a) Purpose--The purpose of the proposal is to adopt an
interpretation to ISE Rule 717(d) and (e) to specify that the exposure
requirement contained in these paragraphs is satisfied with respect to
the non-displayed reserve portion of a reserve order if the displayable
portion is displayed at its displayable price for one second. A reserve
order is an order where only a portion of the full size is included in
the Exchange's disseminated quotation.\3\ The displayed size is
executed according to the Exchange's regular priority rules, and is
refreshed with additional volume from the non-displayed portion of the
order. The non-displayed portion of the reserve order is available for
execution only after the exchange's displayed quote is fully exhausted.
---------------------------------------------------------------------------
\3\ ISE Rule 715(g).
---------------------------------------------------------------------------
Under the proposed interpretation, after entering a reserve order,
a member may enter a contra-side order for its own account or a contra-
side order that was solicited from another broker-dealer that would
execute against the displayable and non-displayed portions of the order
so long as the displayable portion of the order was displayed on the
ISE (i.e., the price of the order is at the ISE BBO) for at least one
second. This proposed interpretation is the same as an existing
interpretation to the rule of the Nasdaq Options Market that contains
the same exposure requirements as ISE Rule 717(d) and (e).\4\
Accordingly, the Commission has previously determined that display of
the displayable portion of a reserve order is sufficient to satisfy the
exposure requirements of ISE Rule 717(d) and (e).
---------------------------------------------------------------------------
\4\ Nasdaq Rules, Chapter VII, Sec. 12 (Order Exposure
Requirements), Commentary .03.
---------------------------------------------------------------------------
(b) Basis--The basis under the Act for this proposed rule change is
the requirement under Section 6(b)(5) that an exchange have rules that
are designed to promote just and equitable principles of trade, and to
remove impediments to and perfect the mechanism for a free and open
market and a national market system, and in general, to protect
investors and the public interest. In particular, the proposal is the
same as an existing rule of another exchange,\5\ and will provide
members with certainty with respect to the applicable exposure
requirements for reserve orders.
---------------------------------------------------------------------------
\5\ Id.
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
This proposed rule change does not significantly affect the
protection of investors or the public interest, does not impose any
significant burden on competition, and, by its terms, does not become
operative for 30 days after the date of the filing, or such shorter
time as the Commission may designate if consistent with the protection
of investors and the public interest. 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 filing the
proposed rule change as required by Rule 19b-4(f)(6).\6\ The proposed
rule change is the same as a rule that the Commission has previously
approved for another self-regulatory organization.\7\ For the foregoing
reason, this rule filing qualifies for immediate effectiveness as a
``non-controversial'' rule change under paragraph (f)(6) of Rule 19b-4
of the Act.
---------------------------------------------------------------------------
\6\ 17 CFR 240.19b-4(f)(6).
\7\ Supra note 4.
---------------------------------------------------------------------------
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 proposal 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-ISE-2009-61 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-ISE-2009-61. 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 ISE. All comments
received will be posted without change; the Commission does not edit
personal identifying information from submissions. You
[[Page 47633]]
should submit only information that you wish to make available
publicly. All submissions should refer to File Number SR-ISE-2009-61
and should be submitted on or before October 7, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-22245 Filed 9-15-09; 8:45 am]
BILLING CODE 8010-01-P
