Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving Proposed Rule Change Relating to the Listing Fee and Annual Fee Applicable to Derivative Securities Products, 2896-2897 [2010-801]

Download as PDF 2896 Federal Register / Vol. 75, No. 11 / Tuesday, January 19, 2010 / Notices Virginia, dated 12/09/2009, is hereby amended to establish the incident period for this disaster as beginning 11/11/2009 and continuing through 11/16/2009. All other information in the original declaration remains unchanged. SECURITIES AND EXCHANGE COMMISSION (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) January 13, 2010. James E. Rivera, Associate Administrator for Disaster Assistance. [FR Doc. 2010–849 Filed 1–15–10; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #12008 and #12009] Alabama Disaster Number AL–00028 AGENCY: U.S. Small Business Administration. ACTION: Amendment 1. SUMMARY: This is an amendment of the Presidential declaration of a major disaster for Public Assistance Only for the State of Alabama (FEMA–1870–DR), dated 12/31/2009. Incident: Severe Storms and Flooding. Incident Period: 12/12/2009 through 12/18/2009. DATES: Effective Date: 01/08/2010. Physical Loan Application Deadline Date: 03/01/2010. Economic Injury (EIDL) Loan Application Deadline Date: 10/01/2010. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster declaration for Private Non-Profit organizations in the State of Alabama, dated 12/31/2009, is hereby amended to include the following areas as adversely affected by the disaster. jlentini on DSKJ8SOYB1PROD with NOTICES Primary Counties: Russell, Chilton. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) James E. Rivera, Associate Administrator for Disaster Assistance. [FR Doc. 2010–850 Filed 1–15–10; 8:45 am] BILLING CODE 8025–01–P VerDate Nov<24>2008 16:28 Jan 15, 2010 Jkt 220001 [File No. 500–1] Order of Suspension of Trading; East Delta Resources Corp. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of East Delta Resources Corp. (‘‘East Delta’’) because it has not filed any periodic reports since the period ended September 30, 2008. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of East Delta. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of East Delta is suspended for the period from 9:30 a.m. EST on January 13, 2010, through 11:59 p.m. EST on January 27, 2010. By the Commission. Jill M. Peterson, Assistant Secretary. [FR Doc. 2010–833 Filed 1–15–10; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–61330; File No. SR– NYSEArca–2009–106 Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving Proposed Rule Change Relating to the Listing Fee and Annual Fee Applicable to Derivative Securities Products January 12, 2010. On November 24, 2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposal to amend its Schedule of Fees and Charges for Exchange Services (‘‘Fee Schedule’’) to revise the listing and annual fees applicable to Derivative Securities Products (‘‘DSPs’’) listed on NYSE Arca, LLC (‘‘NYSE Arca Marketplace’’), the equities facility of NYSE Arca Equities. The proposed rule change was published for comment in the Federal Register on December 10, 2009.3 The Commission received no 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 61104 (December 3, 2009), 74 FR 65568. 2 17 PO 00000 Frm 00053 Fmt 4703 Sfmt 4703 comments regarding the proposal. This order approves the proposed rule change. The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange and, in particular, the requirements of Section 6 of the Act.4 Specifically, the Commission finds that the proposed rule change is consistent with Section 6(b)(4) of the Act,5 which requires that the rules of the exchange provide for the equitable allocation of reasonable dues, fees, and other charges among its members and issuers and other persons using its facilities. The Commission also finds that the proposed rule change is consistent with Section 6(b)(5) of the Act,6 which requires, among other things, that the rules of a national securities exchange be designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. NYSE Arca proposes to revise its listing fee and annual fee applicable to DSPs listed on the NYSE Arca Marketplace.7 Specifically, NYSE Arca proposes to increase the listing fee for each issue of DSPs from current $5,000 to $7,500, except Managed Fund Shares listed under NYSE Arca Equities Rule 8.600 and Managed Trust Securities listed under NYSE Arca Equities Rule 8.700. For Managed Fund Shares and Managed Trust Securities, the Exchange proposes to increase the listing fee from current $5,000 to $10,000. The Exchange also proposes to amend the annual fee applicable to DSPs. Except Managed Fund Shares and Managed Trust Securities, the Exchange proposes to increase the annual fee for DSPs from current $2,000 to $5,000 for each issue with fewer than 25 million shares outstanding; from current $4,000 to $7,500 for each issue with 25 million 4 15 U.S.C. 78f. In approving this proposed rule change, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 5 15 U.S.C. 78f(b)(4). 6 15 U.S.C. 78f(b)(5). 7 As specified in footnote 3 to the Fee Schedule, for the purposes of the Fee Schedule, the term ‘‘Derivative Securities Products’’ includes securities described in NYSE Arca Equities Rules 5.2(j)(3) (Investment Company Units); 8.100 (Portfolio Depositary Receipts); 8.200 (Trust Issued Receipts); 8.201 (Commodity-Based Trust Shares); 8.202 (Currency Trust Shares); 8.203 (Commodity Index Trust Shares); 8.204 (Commodity Futures Trust Shares); 8.300 (Partnership Units); 8.500 (Trust Units); 8.600 (Managed Fund Shares); and 8.700 (Managed Trust Securities). E:\FR\FM\19JAN1.SGM 19JAN1 Federal Register / Vol. 75, No. 11 / Tuesday, January 19, 2010 / Notices to 49,999,999 shares outstanding; and from current $8,000 to $10,000 for each such issue with 50 million to 99,999,999 shares outstanding. For DSP issues that have 100 million shares or more outstanding, except Managed Fund Shares and Managed Trust Securities, the annual fee would remain unchanged. For Managed Fund Shares and Managed Trust Securities, the Exchange proposes to impose an annual fee for each such issue as follows: SHARES OUTSTANDING [Each issue] Annual Fee SECURITIES AND EXCHANGE COMMISSION and C below, of the most significant aspects of such statements. [Release No. 34–61319; File No. SR–FINRA– 2009–093] A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change To Repeal NASD Rule 2450 (Installment or Partial Sales), NASD Interpretive Material 2830–2 (‘‘IM–2830–2’’) (Maintaining the Public Offering Price) and Incorporated NYSE Rule 413 (Uniform Forms) as Part of the Process of Developing a Consolidated FINRA Rulebook January 8, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 Less than 25 million ................. $7,500 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 25 million up to 49,999,999 ...... 10,000 notice is hereby given that on December 50 million up to 99,999,999 ...... 12,500 100 million up to 249,999,999 .. 20,000 23, 2009, Financial Industry Regulatory 250 million up to 499,999,999 .. 30,000 Authority, Inc. (‘‘FINRA’’) (f/k/a 500 million and over ................. 40,000 National Association of Securities Dealers, Inc. (‘‘NASD’’)) filed with the Securities and Exchange Commission The Exchange represents that, as the (‘‘SEC’’ or ‘‘Commission’’) the proposed industry evolves with innovative rule change as described in Items I, II, product lines for investors, the proposed and III below, which Items have been increases in the listing fee and the prepared by FINRA. The Commission is annual fee support the increased costs publishing this notice to solicit incurred by the Exchange for the rule comments on the proposed rule change making process, listing administration from interested persons. process, issuer services, and I. Self-Regulatory Organization’s consultative legal services provided to Statement of the Terms of Substance of issuers. Additionally, the Exchange the Proposed Rule Change states that a higher listing fee and FINRA is proposing to repeal NASD annual fee for Managed Fund Shares and Managed Trust Securities reflect the Rule 2450 (Installment or Partial Sales), greater resources the Exchange generally NASD Interpretive Material 2830–2 (‘‘IM–2830–2’’) (Maintaining the Public expends to provide services in Offering Price), and Incorporated NYSE connection with the listing and Rule 413 (Uniform Forms), as part of the administration of these securities. The process of developing a consolidated Commission finds that the proposed FINRA rulebook. rule change is designed to equitably The text of the proposed rule change allocate reasonable dues, fees, and other is available on FINRA’s Web site at charges among issuers of DSPs, and is https://www.finra.org, at the principal consistent with the requirements of the office of FINRA and at the 8 Act. Commission’s Public Reference Room. It is therefore ordered, pursuant to II. Self-Regulatory Organization’s Section 19(b)(2) of the Act,9 that the Statement of the Purpose of, and proposed rule change (SR–NYSEArca– Statutory Basis for, the Proposed Rule 2009–106), be, and hereby is, approved. Change jlentini on DSKJ8SOYB1PROD with NOTICES For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–801 Filed 1–15–10; 8:45 am] BILLING CODE 8011–01–P U.S.C. 78f. U.S.C. 78s(b)(2). 10 17 CFR 200.30–3(a)(12). 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, 8 15 9 15 VerDate Nov<24>2008 16:28 Jan 15, 2010 1 15 2 17 Jkt 220001 2897 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00054 Fmt 4703 Sfmt 4703 1. Purpose As part of the process of developing a new consolidated rulebook (‘‘Consolidated FINRA Rulebook’’),3 FINRA is proposing to repeal NASD Rule 2450 (Installment or Partial Sales), NASD IM–2830–2 (Maintaining the Public Offering Price), and Incorporated NYSE Rule 413 (Uniform Forms) to eliminate duplicative and unnecessary rules and remove outdated provisions from the Consolidated FINRA Rulebook. NASD Rule 2450 (Installment or Partial Sales) NASD Rule 2450 prohibits any arrangement whereby the customer of a member submits partial or installment payments for the purchase of a security with the following exceptions: (1) If a member is acting as agent or broker in such transaction, then the member must immediately make an actual purchase of the security for the account of the customer, and immediately take possession or control of the security and maintain possession or control of the security as long as the member is under the obligation to deliver the security to the customer; (2) if a member is acting as principal in such transaction, the member must, at the time of the transaction, own such security and maintain possession or control of the security as long as the member is under the obligation to deliver the security to the customer; and (3) where the provisions of Regulation T,4 if applicable to the member, are satisfied. The rule also prohibits the member, whether acting as principal or agent, in connection with any installment or partial sales transaction, from making any agreement with the customer whereby the member would be allowed to pledge or hypothecate any security involved in such transaction for any 3 The current FINRA rulebook consists of (1) FINRA Rules; (2) NASD Rules; and (3) rules incorporated from NYSE (‘‘Incorporated NYSE Rules’’) (together, the NASD Rules and Incorporated NYSE Rules are referred to as the ‘‘Transitional Rulebook’’). While the NASD Rules generally apply to all FINRA members, the Incorporated NYSE Rules apply only to those members of FINRA that are also members of the NYSE (‘‘Dual Members’’). The FINRA Rules apply to all FINRA members, unless such rules have a more limited application by their terms. For more information about the rulebook consolidation process, see Information Notice, March 12, 2008 (Rulebook Consolidation Process). 4 Federal Reserve Board, Regulation T (Credit by Brokers and Dealers), 12 CFR 220 et seq. E:\FR\FM\19JAN1.SGM 19JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 75, Number 11 (Tuesday, January 19, 2010)]
[Notices]
[Pages 2896-2897]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-801]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-61330; File No. SR-NYSEArca-2009-106


Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving 
Proposed Rule Change Relating to the Listing Fee and Annual Fee 
Applicable to Derivative Securities Products

January 12, 2010.
    On November 24, 2009, NYSE Arca, Inc. (``NYSE Arca'' or the 
``Exchange'') filed with the Securities and Exchange Commission (the 
``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposal to amend its Schedule of Fees and Charges for Exchange 
Services (``Fee Schedule'') to revise the listing and annual fees 
applicable to Derivative Securities Products (``DSPs'') listed on NYSE 
Arca, LLC (``NYSE Arca Marketplace''), the equities facility of NYSE 
Arca Equities. The proposed rule change was published for comment in 
the Federal Register on December 10, 2009.\3\ The Commission received 
no comments regarding the proposal. This order approves the proposed 
rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 61104 (December 3, 
2009), 74 FR 65568.
---------------------------------------------------------------------------

    The Commission finds that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder applicable to a national securities exchange and, in 
particular, the requirements of Section 6 of the Act.\4\ Specifically, 
the Commission finds that the proposed rule change is consistent with 
Section 6(b)(4) of the Act,\5\ which requires that the rules of the 
exchange provide for the equitable allocation of reasonable dues, fees, 
and other charges among its members and issuers and other persons using 
its facilities. The Commission also finds that the proposed rule change 
is consistent with Section 6(b)(5) of the Act,\6\ which requires, among 
other things, that the rules of a national securities exchange be 
designed to promote just and equitable principles of trade, to remove 
impediments to and perfect the mechanism of a free and open market and 
a national market system, and, in general, to protect investors and the 
public interest.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f. In approving this proposed rule change, the 
Commission has considered the proposed rule's impact on efficiency, 
competition, and capital formation. 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f(b)(4).
    \6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    NYSE Arca proposes to revise its listing fee and annual fee 
applicable to DSPs listed on the NYSE Arca Marketplace.\7\ 
Specifically, NYSE Arca proposes to increase the listing fee for each 
issue of DSPs from current $5,000 to $7,500, except Managed Fund Shares 
listed under NYSE Arca Equities Rule 8.600 and Managed Trust Securities 
listed under NYSE Arca Equities Rule 8.700. For Managed Fund Shares and 
Managed Trust Securities, the Exchange proposes to increase the listing 
fee from current $5,000 to $10,000.
---------------------------------------------------------------------------

    \7\ As specified in footnote 3 to the Fee Schedule, for the 
purposes of the Fee Schedule, the term ``Derivative Securities 
Products'' includes securities described in NYSE Arca Equities Rules 
5.2(j)(3) (Investment Company Units); 8.100 (Portfolio Depositary 
Receipts); 8.200 (Trust Issued Receipts); 8.201 (Commodity-Based 
Trust Shares); 8.202 (Currency Trust Shares); 8.203 (Commodity Index 
Trust Shares); 8.204 (Commodity Futures Trust Shares); 8.300 
(Partnership Units); 8.500 (Trust Units); 8.600 (Managed Fund 
Shares); and 8.700 (Managed Trust Securities).
---------------------------------------------------------------------------

    The Exchange also proposes to amend the annual fee applicable to 
DSPs. Except Managed Fund Shares and Managed Trust Securities, the 
Exchange proposes to increase the annual fee for DSPs from current 
$2,000 to $5,000 for each issue with fewer than 25 million shares 
outstanding; from current $4,000 to $7,500 for each issue with 25 
million

[[Page 2897]]

to 49,999,999 shares outstanding; and from current $8,000 to $10,000 
for each such issue with 50 million to 99,999,999 shares outstanding. 
For DSP issues that have 100 million shares or more outstanding, except 
Managed Fund Shares and Managed Trust Securities, the annual fee would 
remain unchanged.
    For Managed Fund Shares and Managed Trust Securities, the Exchange 
proposes to impose an annual fee for each such issue as follows:

                           Shares Outstanding
                              [Each issue]
------------------------------------------------------------------------
                                                              Annual Fee
------------------------------------------------------------------------
Less than 25 million.......................................       $7,500
25 million up to 49,999,999................................       10,000
50 million up to 99,999,999................................       12,500
100 million up to 249,999,999..............................       20,000
250 million up to 499,999,999..............................       30,000
500 million and over.......................................       40,000
------------------------------------------------------------------------

    The Exchange represents that, as the industry evolves with 
innovative product lines for investors, the proposed increases in the 
listing fee and the annual fee support the increased costs incurred by 
the Exchange for the rule making process, listing administration 
process, issuer services, and consultative legal services provided to 
issuers. Additionally, the Exchange states that a higher listing fee 
and annual fee for Managed Fund Shares and Managed Trust Securities 
reflect the greater resources the Exchange generally expends to provide 
services in connection with the listing and administration of these 
securities. The Commission finds that the proposed rule change is 
designed to equitably allocate reasonable dues, fees, and other charges 
among issuers of DSPs, and is consistent with the requirements of the 
Act.\8\
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f.
---------------------------------------------------------------------------

    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\9\ that the proposed rule change (SR-NYSEArca-2009-106), be, and 
hereby is, approved.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-801 Filed 1-15-10; 8:45 am]
BILLING CODE 8011-01-P

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