Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Arca, Inc. Amending Rule 9.1 Sharing in Accounts, Extent Permissible, 4130-4132 [2010-1443]
Download as PDF
<![CDATA[
4130
Federal Register / Vol. 75, No. 16 / Tuesday, January 26, 2010 / Notices
investments trusts (collectively,
‘‘Investment Programs’’). In SR–FINRA–
2009–016,4 FINRA re-designated NASD
Rule 2810 as FINRA Rule 2310 with no
material change. FINRA Rule 2310
requires that members participating in a
public offering of an Investment
Program meet certain requirements
regarding underwriting compensation,
fees and expenses, perform due
diligence on the Investment Program,
follow specific guidelines on suitability,
and adhere to limits on non-cash
compensation.
BX is adopting the new FINRA rule in
full. Because the BX Rules currently
contain a Rule 2310, it will re-designate
Rule 2810 as BX Rule 2310A, so as to
closely correspond to the new FINRA
rule number.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,5
in general, and with Sections [sic]
6(b)(5) of the Act,6 in particular, in that
the proposal is designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, 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. The
proposed changes will conform BX Rule
2810 to recent changes made to a
corresponding FINRA rule, to promote
application of consistent regulatory
standards.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
The Exchange 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, as amended.
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.
4 Securities Exchange Act Release No. 59987 (May
27, 2009), 74 FR 106 [sic] (June 4, 2009) (SR–
FINRA–2009–016).
5 15 U.S.C. 78f.
6 15 U.S.C. 78f(b)(5).
VerDate Nov<24>2008
14:10 Jan 25, 2010
Jkt 220001
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing 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) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 7 and Rule 19b–
4(f)(6) thereunder.8
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
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 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–BX–2010–003 and should
be submitted on or before February 16,
2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–1440 Filed 1–25–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
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–BX–2010–003 on the
subject line.
[Release No. 34–61370; File No. SR–
NYSEArca–2010–02]
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–BX–2010–003. 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
January 15, 2010.
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NYSE
Arca, Inc. Amending Rule 9.1 Sharing
in Accounts, Extent Permissible
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on January
08, 2010, NYSE Arca, Inc. (‘‘NYSE Arca’’
or the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(the ‘‘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 modify its
sharing in accounts rule to harmonize
its requirements with the Financial
Industry Regulatory Authority
9 17
CFR 200.30–3(a)(12).
U.S.C.78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
7 15
8 17
PO 00000
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
Frm 00092
Fmt 4703
Sfmt 4703
E:\FR\FM\26JAN1.SGM
26JAN1
Federal Register / Vol. 75, No. 16 / Tuesday, January 26, 2010 / Notices
(‘‘FINRA’’). The text of the proposed rule
change is attached as Exhibit 5 to the
19b–4 form. A copy of this filing is
available on the Exchange’s Web site at
https://www.nyse.com, at the Exchange’s
principal office and at the Commission’s
Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
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
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
Pursuant to Rule 17d–2 under the
Securities Exchange Act of 1934, the
American Stock Exchange, LLC, the
Boston Stock Exchange, Inc., the
Chicago Board Options Exchange, Inc.,
the International Securities Exchange,
LLC, Financial Industry Regulatory
Authority, Inc., The NASDAQ Stock
Market LLC, the New York Stock
Exchange, LLC, NYSE Arca, Inc., and
the Philadelphia Stock Exchange, Inc.
(collectively the ‘‘Options Self
Regulatory Council’’), entered into an
agreement dated June 5, 2008 (the ‘‘17d–
2 Agreement’’) to allocate regulatory
responsibility for common rules. The
Exchange is currently in the process of
recertifying this 17d–2 Agreement for
2009.
In furtherance of the 17d–2
agreement, and in order to maintain
substantial similarity with FINRA rules,
the Exchange proposes to delete NYSE
Arca Rule 9.1(f), Sharing Profits—
Losses, in its entirety, and replace it
with the language of FINRA 2150(c),
Sharing in Accounts; Extent
Permissible. FINRA Rule 2150(c)
contains the same general prohibition as
NYSE Arca Rule 9.1(f), but with
additional limited exceptions. The
Exchange proposes to add those limited
exceptions in order to harmonize its
rule with the FINRA rule.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
14:10 Jan 25, 2010
Jkt 220001
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
1. Purpose
VerDate Nov<24>2008
Section 6(b) 4 of the Act, in general, and
furthers the objectives of Section
6(b)(5),5 in particular, in that it is
designed to facilitate transactions in
securities, to promote just and equitable
principles of trade, to enhance
competition, and to protect investors
and the public interest. Specifically, the
changes proposed herein, by
harmonizing NYSE Arca rules with
FINRA rules, provide NYSE Arca
Members with a clearer and more
comprehensive regulatory scheme. The
Exchange further notes that the changes
proposed herein are neither novel nor
controversial and are modeled on
existing FINRA rules.
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 6 and Rule
19b–4(f)(6) thereunder.7 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) 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)
of the Act 8 and Rule 19b–4(f)(6)(iii)
thereunder.9
4 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
6 15 U.S.C. 78s(b)(3)(A)(iii).
7 17 CFR 240.19b–4(f)(6).
8 15 U.S.C. 78s(b)(3)(A).
9 17 CFR 240.19b–4(f)(6). 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 Exchange
has satisfied the pre-filing requirement.
5 15
PO 00000
Frm 00093
Fmt 4703
Sfmt 4703
4131
A proposed rule change filed under
Rule 19b–4(f)(6) 10 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b4(f)(6)(iii),11 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has asked the Commission to
waive the 30-day operative delay so that
the proposal may become operative
immediately upon filing.
The Commission has determined that
waiving the 30-day operative delay of
the Exchange’s proposal is consistent
with the protection of investors and the
public interest because such waiver will
allow the Exchange to help expedite the
recertification of the 17d–2 agreement
between NYSE Arca and FINRA.12
Therefore, the Commission designates
the proposal as 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–NYSEArca–2010–02 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–NYSEArca–2010–02. 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
10 17
CFR 240.19b–4(f)(6).
CFR 240.19b–4(f)(6)(iii).
12 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
11 17
E:\FR\FM\26JAN1.SGM
26JAN1
4132
Federal Register / Vol. 75, No. 16 / Tuesday, January 26, 2010 / Notices
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 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–
NYSEArca–2010–02 and should be
submitted on or before February 16,
2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–1443 Filed 1–25–10; 8:45 am]
BILLING CODE 8011–01–P
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 extend its
sponsored access rule for a pilot period
ending on March 15, 2010.
The text of the proposed rule change
is available on the Exchange’s
Web site at https://
nasdaqomxphlx.cchwallstreet.com/
NASDAQOMXPHLX/Filings/, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61372; File No. SR–Phlx–
2010–04]
Self-Regulatory Organizations;
NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Extension of Sponsored Access Pilot
Program
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
January 15, 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
11, 2010, NASDAQ OMX PHLX, Inc.
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I and
II below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
13 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Nov<24>2008
14:10 Jan 25, 2010
Jkt 220001
The purpose of the proposed rule
change is to attract additional business
by extending its sponsored access rule,
which is similar to that of other
exchanges. During the previous pilot
program, very few member
organizations availed themselves of the
program, but the Exchange seeks to
make it available for an additional pilot
period expiring March 15, 2010.
A Sponsored Participant is a nonmember of the Exchange, such as an
institutional investor, that gains access
to the Exchange and trades under a
Sponsoring Member’s execution and
clearing identity pursuant to a
sponsorship arrangement between such
non-member and a member
organization. Specifically, the Exchange
proposes to permit Sponsored
Participants to be sponsored by
Sponsoring Member Organizations, and
thereby access the Exchange, subject to
certain requirements. These
requirements are intended to confirm
that the Sponsored Participant is
required to and had procedures in place
to comply with Exchange rules, and that
PO 00000
Frm 00094
Fmt 4703
Sfmt 4703
the Sponsoring Member Organization
takes responsibility for the Sponsored
Participant’s activity on the Exchange.
First, the Sponsored Participant and
its Sponsoring Member Organization
must have entered into and maintained
an Access Agreement with the
Exchange. The Sponsoring Member
Organization must designate the
Sponsored Participant by name in an
addendum to the Access Agreement.
Second, there must be a Sponsored
Participant Agreement between the
Sponsoring Member Organization and
the Sponsored Participant that contains
the following sponsorship provisions,
enumerated in full in Rule 1094(b)(ii):
(i) The orders of the Sponsored
Participant are binding in all respects on
the Sponsoring Member Organization;
(ii) The Sponsoring Member
Organization is responsible for the
actions of the Sponsored Participant;
(iii) In addition to the Sponsoring
Member Organization being required to
comply with the Exchange Certificate of
Incorporation, By-laws, Rules and
procedures of the Exchange, the
Sponsored Participant shall do so as if
such Sponsored Participant were an
Exchange member organization;
(iv) The Sponsored Participant shall
maintain, keep current and provide to
the Sponsoring Member Organization a
list of individuals authorized to obtain
access to the Exchange on behalf of the
Sponsored Participant;
(v) The Sponsored Participant shall
familiarize its authorized individuals
with all of the Sponsored Participant’s
obligations under this Rule and will
assure that they receive appropriate
training prior to any use or access to the
Exchange;
(vi) The Sponsored Participant may
not permit anyone other than authorized
individuals to use or obtain access to
the Exchange; 3
(vii) The Sponsored Participant shall
take reasonable security precautions to
prevent unauthorized use or access to
the Exchange, including unauthorized
entry of information into the Exchange,
and agrees that it is responsible for any
and all orders, trades and other
messages and instructions entered,
transmitted or received under
identifiers, passwords and security
codes of authorized individuals, and for
the trading and other consequences
thereof;
(viii) The Sponsored Participant
acknowledges its responsibility to
3 If the Exchange determines that an authorized
individual has caused a Member Organization to
violate the Exchange’s Rules, the Exchange could
direct the Member Organization to suspend or
withdraw the person’s status as an authorized
individual.
E:\FR\FM\26JAN1.SGM
26JAN1
]]>Agencies
[Federal Register Volume 75, Number 16 (Tuesday, January 26, 2010)]
[Notices]
[Pages 4130-4132]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-1443]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61370; File No. SR-NYSEArca-2010-02]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by NYSE Arca, Inc. Amending Rule
9.1 Sharing in Accounts, Extent Permissible
January 15, 2010.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on January 08, 2010, NYSE Arca, Inc. (``NYSE Arca'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``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\ 15 U.S.C. 78a.
\3\ 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 modify its sharing in accounts rule to
harmonize its requirements with the Financial Industry Regulatory
Authority
[[Page 4131]]
(``FINRA''). The text of the proposed rule change is attached as
Exhibit 5 to the 19b-4 form. A copy of this filing is available on the
Exchange's Web site at https://www.nyse.com, at the Exchange's principal
office and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the 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
Pursuant to Rule 17d-2 under the Securities Exchange Act of 1934,
the American Stock Exchange, LLC, the Boston Stock Exchange, Inc., the
Chicago Board Options Exchange, Inc., the International Securities
Exchange, LLC, Financial Industry Regulatory Authority, Inc., The
NASDAQ Stock Market LLC, the New York Stock Exchange, LLC, NYSE Arca,
Inc., and the Philadelphia Stock Exchange, Inc. (collectively the
``Options Self Regulatory Council''), entered into an agreement dated
June 5, 2008 (the ``17d-2 Agreement'') to allocate regulatory
responsibility for common rules. The Exchange is currently in the
process of recertifying this 17d-2 Agreement for 2009.
In furtherance of the 17d-2 agreement, and in order to maintain
substantial similarity with FINRA rules, the Exchange proposes to
delete NYSE Arca Rule 9.1(f), Sharing Profits--Losses, in its entirety,
and replace it with the language of FINRA 2150(c), Sharing in Accounts;
Extent Permissible. FINRA Rule 2150(c) contains the same general
prohibition as NYSE Arca Rule 9.1(f), but with additional limited
exceptions. The Exchange proposes to add those limited exceptions in
order to harmonize its rule with the FINRA rule.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) \4\ of the Act, in general, and furthers the
objectives of Section 6(b)(5),\5\ in particular, in that it is designed
to facilitate transactions in securities, to promote just and equitable
principles of trade, to enhance competition, and to protect investors
and the public interest. Specifically, the changes proposed herein, by
harmonizing NYSE Arca rules with FINRA rules, provide NYSE Arca Members
with a clearer and more comprehensive regulatory scheme. The Exchange
further notes that the changes proposed herein are neither novel nor
controversial and are modeled on existing FINRA rules.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 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 \6\ and Rule 19b-4(f)(6) thereunder.\7\
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) 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) of the Act \8\ and Rule 19b-
4(f)(6)(iii) thereunder.\9\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(A)(iii).
\7\ 17 CFR 240.19b-4(f)(6).
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(6). 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
Exchange has satisfied the pre-filing requirement.
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \10\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\11\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing.
---------------------------------------------------------------------------
\10\ 17 CFR 240.19b-4(f)(6).
\11\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
The Commission has determined that waiving the 30-day operative
delay of the Exchange's proposal is consistent with the protection of
investors and the public interest because such waiver will allow the
Exchange to help expedite the recertification of the 17d-2 agreement
between NYSE Arca and FINRA.\12\ Therefore, the Commission designates
the proposal as 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.
---------------------------------------------------------------------------
\12\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------
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-NYSEArca-2010-02 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-NYSEArca-2010-02. 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
[[Page 4132]]
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 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-NYSEArca-2010-02 and should
be submitted on or before February 16, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-1443 Filed 1-25-10; 8:45 am]
BILLING CODE 8011-01-P
