Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 452-NYSE Amex Equities and Section 723 of the NYSE Amex Company Guide To Insert a Date (January 1, 2010) That Was Inadvertently Omitted in a Previous Rule Change, 3771-3772 [2010-1144]
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Federal Register / Vol. 75, No. 14 / Friday, January 22, 2010 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61360; File No. SR–
NYSEAMEX–2010–03]
1. Purpose
Self-Regulatory Organizations; NYSE
Amex LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending Rule 452—
NYSE Amex Equities and Section 723
of the NYSE Amex Company Guide To
Insert a Date (January 1, 2010) That
Was Inadvertently Omitted in a
Previous Rule Change
January 14, 2010.
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 January 8,
2010, NYSE Amex LLC (‘‘Exchange’’ or
‘‘NYSE Amex’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
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 proposes to amend
Rule 452—NYSE Amex Equities and
Section 723 of the NYSE Amex
Company Guide (the ‘‘Company Guide’’).
The text of the proposed rule change is
available at the Exchange, at the
Commission’s Public Reference Room,
on the Commission’s Web site at https://
www.sec.gov, and on the Exchange’s
Web site at https://www.nyse.com.
erowe on DSK5CLS3C1PROD 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 those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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14:43 Jan 21, 2010
Jkt 220001
On January 5, 2010, the Commission
issued a release pursuant to Section
19(b)(1) 3 of the Securities Exchange Act
of 1934 (the ‘‘Act’’) and Rule 19b–4 4
thereunder declaring immediate
effectiveness of a rule change proposed
by the Exchange to eliminate broker
discretionary voting for the election of
directors.5 Specifically, the language of
Rule 452—NYSE Amex Equities and
Section 723 of the Company Guide was
revised to add the election of directors
to a list of specific non-routine matters
as to which a member organization may
not give a proxy to vote without
instructions from beneficial owners.
That rule change was identical to a rule
change filed by the New York Stock
Exchange (‘‘NYSE’’) and approved by the
Commission on July 1, 2009.6 The Form
19b–4 for the earlier Exchange filing
stated that, ‘‘The proposed amendment
will be applicable to proxy voting for
shareholder meetings held on or after
January 1, 2010.’’ In requesting the
Commission to waive the 30-day
delayed operative date for that earlier
filing, the Exchange also noted ‘‘that the
NYSE’s new rules will be applicable to
shareholder meetings held on or after
January 1, 2010 and believes that its
proposed rule change should be
operative no later than that date to
conform to the Commission’s mandate
to eliminate any disparities involving
voting.’’
While the proposed January 1, 2010
operative date of the Exchange’s prior
rule text change was correctly identified
in the Form 19b–4 for that rule filing, it
was inadvertently left out of the related
Exhibit 5. Instead, the general phrase
‘‘insert effective date’’ was left in the text
in the two places where the specific
operative date should have been
inserted. Consequently, the Exchange is
making this ‘‘cleanup’’ filing so that the
operative date of January 1, 2010 that
was accurately described in the earlier
Form 19b–4 and in the Notice of Filing
is reflected in the rule text of Rule 452—
NYSE Amex Equities and Section 723 of
the Company Guide as well.
3 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
5 See Securities Exchange Act Release No. 34–
61292 (January 5, 2010), 75 FR 1664 (January 12,
2010) (notice of filing and immediate effectiveness
of SR–NYSEAmex–2009–93) (‘‘Notice of Filing’’).
6 See Securities Exchange Act Release No. 34–
60215 (July 1, 2009), 74 FR 33293 (July 10, 2009)
(SR–NYSE–2006–92) (‘‘NYSE Approval Order’’).
4 17
PO 00000
Frm 00076
Fmt 4703
Sfmt 4703
3771
2. Statutory Basis
The basis under the Exchange Act for
this proposed rule change is the
requirement under Section 6(b)(5)7 that
an exchange have rules that are
designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to remove impediments to, and
perfect the mechanism of a free and
open market and, in general, to protect
investors and the public interest. The
proposed correction would protect
investors and the public interest by
eliminating any potential confusion to
investors and others that might result
from leaving the current generalized
reference to the effective date in the text
of the Exchange’s rules.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 8 and Rule
19b–4(f)(6) thereunder.9 Because the
proposed rule change does not: (i)
Significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) by its terms,
become operative prior to 30 days from
the date on which it was filed, or such
shorter time as the Commission may
designate, if consistent with the
protection of investors and the public
interest, the proposed rule change has
become effective pursuant to Section
19(b)(3)(A) 10 of the Act and Rule 19b4(f)(6)(iii) thereunder.11
7 15
U.S.C. 78f(b)(5).
U.S.C. 78s(b)(3)(A)(iii).
9 17 CFR 240.19b–4(f)(6).
10 15 U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(6)(iii). In addition, Rule
19b–4(f)(6)(iii) requires the Exchange to give the
Commission written notice of the Exchange’s 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
of the proposed rule change, or such shorter time
8 15
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Continued
22JAN1
3772
Federal Register / Vol. 75, No. 14 / Friday, January 22, 2010 / Notices
A proposed rule change filed under
Rule 19b–4(f)(6) 12 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b4(f)(6)(iii),13 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has requested the Commission
to waive the 30-day operative delay so
that the proposal may become operative
immediately upon filing. In making this
request, the Exchange stated that waiver
of this period will permit the text of the
Exchange’s rules to exactly match the
corresponding text of the NYSE’s rules
as soon as possible and will eliminate
any potential confusion to investors and
others that might result from the more
generalized reference to the effective
date of the new rule that is in the
current rule text.
The Commission believes that the
waiver of the 30-day operative delay
period is consistent with the protection
of investors and the public interest.14
The proposal would correctly insert the
effective date, as described in the
Exchange’s prior proposed rule change,
into the text of the Exchange’s rules to
ensure that investors and issuers are
aware that the Exchange’s rule is
operative on the same date as NYSE’s
rule change. Based on the foregoing, the
Commission deems the proposal
operative upon filing.
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:
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–NYSEAmex–2010–03 on
the subject line.
• 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–NYSEAmex-2010–03. 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 the Exchange. 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–NYSEAmex–2010–03 and
should be submitted on or before
February 12, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Florence E. Harmon,
Deputy Secretary.
erowe on DSK5CLS3C1PROD with NOTICES
BILLING CODE 8011–01–P
VerDate Nov<24>2008
14:43 Jan 21, 2010
Jkt 220001
[Release No. 34–61359; File No. SR–FINRA–
2009–082]
Paper Comments
[FR Doc. 2010–1144 Filed 1–21–10; 8:45 am]
as designated by the Commission. The Commission
has waived the pre-filing requirement in this case.
12 17 CFR 240.19b–4(f)(6).
13 17 CFR 240.19b–4(f)(6)(iii).
14 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
SECURITIES AND EXCHANGE
COMMISSION
15 17
PO 00000
CFR 200.30–3(a)(12).
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Fmt 4703
Sfmt 4703
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Order Approving a
Proposed Rule Change Relating To
Reporting of Trade Cancellations to
FINRA
January 14, 2010.
On November 24, 2009, the Financial
Industry Regulatory Authority, Inc.
(‘‘FINRA’’) filed with the Securities and
Exchange Commission (‘‘Commission’’),
pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
proposed rule change to: (1) Amend
FINRA trade reporting rules to permit
members to report trade cancellations
after 5:15 p.m. Eastern Time on the
trade date to the FINRA/Nasdaq Trade
Reporting Facility (‘‘FINRA/Nasdaq
TRF’’) and the OTC Reporting Facility
(‘‘ORF’’); 3 and (2) make certain
conforming changes to the rules relating
to the submission of trade cancellations
to the Alternative Display Facility
(‘‘ADF’’).4 Notice of the proposed rule
change was published for comment in
the Federal Register on December 10,
2009.5 The Commission received no
comments on the proposal.
After careful review, 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 association.6 In particular, the
Commission finds that the proposed
rule change is consistent with the
requirements of Section 15A(b)(6) of the
Act,7 which requires, among other
things, that FINRA’s rules be designed
to prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, and, in
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 This change will allow members to submit
reports of trade cancellations on the trade date until
the close of the facilities at 8 p.m. Previously,
FINRA rules prohibited members from reporting
trade cancellations after 5:15 p.m. on the trade date
for these two reporting facilities.
4 Among other changes, the proposed
amendments to Rule 6282(j)(2) provide that if a
normal market hours trade is cancelled during
market hours on trade date, the cancellation must
be reported within 90 seconds.
5 See Securities Exchange Act Release No. 61105
(December 3, 2009), 74 FR 65578.
6 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).
7 15 U.S.C. 78o–3(b)(6).
2 17
E:\FR\FM\22JAN1.SGM
22JAN1
]]>Agencies
[Federal Register Volume 75, Number 14 (Friday, January 22, 2010)]
[Notices]
[Pages 3771-3772]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-1144]
[[Page 3771]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61360; File No. SR-NYSEAMEX-2010-03]
Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Amending Rule 452--
NYSE Amex Equities and Section 723 of the NYSE Amex Company Guide To
Insert a Date (January 1, 2010) That Was Inadvertently Omitted in a
Previous Rule Change
January 14, 2010.
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 January 8, 2010, NYSE Amex LLC (``Exchange'' or ``NYSE Amex'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II 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 proposes to amend Rule 452--NYSE Amex Equities and
Section 723 of the NYSE Amex Company Guide (the ``Company Guide''). The
text of the proposed rule change is available at the Exchange, at the
Commission's Public Reference Room, on the Commission's Web site at
https://www.sec.gov, and on the Exchange's Web site at https://www.nyse.com.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
On January 5, 2010, the Commission issued a release pursuant to
Section 19(b)(1) \3\ of the Securities Exchange Act of 1934 (the
``Act'') and Rule 19b-4 \4\ thereunder declaring immediate
effectiveness of a rule change proposed by the Exchange to eliminate
broker discretionary voting for the election of directors.\5\
Specifically, the language of Rule 452--NYSE Amex Equities and Section
723 of the Company Guide was revised to add the election of directors
to a list of specific non-routine matters as to which a member
organization may not give a proxy to vote without instructions from
beneficial owners. That rule change was identical to a rule change
filed by the New York Stock Exchange (``NYSE'') and approved by the
Commission on July 1, 2009.\6\ The Form 19b-4 for the earlier Exchange
filing stated that, ``The proposed amendment will be applicable to
proxy voting for shareholder meetings held on or after January 1,
2010.'' In requesting the Commission to waive the 30-day delayed
operative date for that earlier filing, the Exchange also noted ``that
the NYSE's new rules will be applicable to shareholder meetings held on
or after January 1, 2010 and believes that its proposed rule change
should be operative no later than that date to conform to the
Commission's mandate to eliminate any disparities involving voting.''
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78s(b)(1).
\4\ 17 CFR 240.19b-4.
\5\ See Securities Exchange Act Release No. 34-61292 (January 5,
2010), 75 FR 1664 (January 12, 2010) (notice of filing and immediate
effectiveness of SR-NYSEAmex-2009-93) (``Notice of Filing'').
\6\ See Securities Exchange Act Release No. 34-60215 (July 1,
2009), 74 FR 33293 (July 10, 2009) (SR-NYSE-2006-92) (``NYSE
Approval Order'').
---------------------------------------------------------------------------
While the proposed January 1, 2010 operative date of the Exchange's
prior rule text change was correctly identified in the Form 19b-4 for
that rule filing, it was inadvertently left out of the related Exhibit
5. Instead, the general phrase ``insert effective date'' was left in
the text in the two places where the specific operative date should
have been inserted. Consequently, the Exchange is making this
``cleanup'' filing so that the operative date of January 1, 2010 that
was accurately described in the earlier Form 19b-4 and in the Notice of
Filing is reflected in the rule text of Rule 452--NYSE Amex Equities
and Section 723 of the Company Guide as well.
2. Statutory Basis
The basis under the Exchange Act for this proposed rule change is
the requirement under Section 6(b)(5)\7\ that an exchange have rules
that are designed to prevent fraudulent and manipulative acts and
practices, to promote just and equitable principles of trade, to remove
impediments to, and perfect the mechanism of a free and open market
and, in general, to protect investors and the public interest. The
proposed correction would protect investors and the public interest by
eliminating any potential confusion to investors and others that might
result from leaving the current generalized reference to the effective
date in the text of the Exchange's rules.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) by its terms, become
operative prior to 30 days from the date on which it was filed, or such
shorter time as the Commission may designate, if consistent with the
protection of investors and the public interest, the proposed rule
change has become effective pursuant to Section 19(b)(3)(A) \10\ of the
Act and Rule 19b-4(f)(6)(iii) thereunder.\11\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(iii).
\9\ 17 CFR 240.19b-4(f)(6).
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-
4(f)(6)(iii) requires the Exchange to give the Commission written
notice of the Exchange's 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 of the
proposed rule change, or such shorter time as designated by the
Commission. The Commission has waived the pre-filing requirement in
this case.
---------------------------------------------------------------------------
[[Page 3772]]
A proposed rule change filed under Rule 19b-4(f)(6) \12\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\13\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has
requested the Commission to waive the 30-day operative delay so that
the proposal may become operative immediately upon filing. In making
this request, the Exchange stated that waiver of this period will
permit the text of the Exchange's rules to exactly match the
corresponding text of the NYSE's rules as soon as possible and will
eliminate any potential confusion to investors and others that might
result from the more generalized reference to the effective date of the
new rule that is in the current rule text.
---------------------------------------------------------------------------
\12\ 17 CFR 240.19b-4(f)(6).
\13\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
The Commission believes that the waiver of the 30-day operative
delay period is consistent with the protection of investors and the
public interest.\14\ The proposal would correctly insert the effective
date, as described in the Exchange's prior proposed rule change, into
the text of the Exchange's rules to ensure that investors and issuers
are aware that the Exchange's rule is operative on the same date as
NYSE's rule change. Based on the foregoing, the Commission deems the
proposal operative upon filing.
---------------------------------------------------------------------------
\14\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------
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:
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-NYSEAmex-2010-03 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-NYSEAmex-2010-03. 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 the Exchange. 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-NYSEAmex-2010-03 and should
be submitted on or before February 12, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
---------------------------------------------------------------------------
\15\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-1144 Filed 1-21-10; 8:45 am]
BILLING CODE 8011-01-P
