Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Correct an Inadvertent Numbering Inconsistency, 9471-9472 [2010-4231]
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Federal Register / Vol. 75, No. 40 / Tuesday, March 2, 2010 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61565; File No. SR–CBOE–
2010–016]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Correct an Inadvertent
Numbering Inconsistency
February 22, 2010.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on February
12, 2010, the Chicago Board Options
Exchange, Incorporated (‘‘Exchange’’ or
‘‘CBOE’’) filed with the Securities and
Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change
pursuant to Section 19(b)(3)(A)(iii) of
the Act 3 and Rule 19b–4(f)(6)
thereunder.4 The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to correct a
numbering inconsistency in CBOE Rule
6.53 that was unintentionally created by
a recent CBOE rule filing.5 The text of
the proposed rule change is available on
the Exchange’s Web site (www.cboe.org/
Legal), at the Exchange’s Office of the
Secretary and at the Commission.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
CBOE 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
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
5 See Securities Exchange Act Release No. 61248
(December 29, 2009), 75 FR 498 (January 5, 2010)
(SR–CBOE–2009–097).
2 17
VerDate Nov<24>2008
15:07 Mar 01, 2010
Jkt 220001
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
In SR–CBOE–2009–097, an error was
inadvertently made in the ordering of
Rule 6.53. The subsection of Rule 6.53—
Certain Types of Orders Defined—
regarding Reserve Orders was
unintentionally ordered as subsection
(p), when there already exists a
subparagraph (p) in that rule. This filing
is made in order to correct that error and
to re-order the subsection regarding
Reserve Orders as subsection (t) to Rule
6.53. No substantive changes to CBOE
rules would be made by this proposal.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
Securities Exchange Act of 1934 (the
‘‘Act’’) 6 and the rules and regulations
thereunder and, in particular, the
requirements of Section 6(b) of the Act.7
Specifically, the Exchange believes the
proposed rule change is consistent with
the Section 6(b)(5) 8 requirements that
the rules of an exchange be designed to
promote just and equitable principles of
trade, to prevent fraudulent and
manipulative acts, to remove
impediments to and to perfect the
mechanism for a free and open market
and a national market system, 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.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition not necessary or
appropriate in furtherance of the
purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange neither solicited nor
received comments on the proposal.
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 9 and Rule
6 15
U.S.C. 78s(b)(1).
U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
9 15 U.S.C. 78s(b)(3)(A).
7 15
PO 00000
Frm 00092
Fmt 4703
Sfmt 4703
9471
19b–4(f)(6) thereunder.10 Because the
foregoing proposed rule change does
not: (1) Significantly affect the
protection of investors or the public
interest; (2) impose any significant
burden on competition; and (3) become
operative for thirty 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, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 11 and Rule 19b–
4(f)(6) 12 thereunder.
At any time within 60 days of the
filing of such 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–CBOE–2010–016 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–CBOE–2010–016. 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
10 17
CFR 240.19b–4(f)(6).
U.S.C. 78s(b)(3)(A).
12 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 the 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.
11 15
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9472
Federal Register / Vol. 75, No. 40 / Tuesday, March 2, 2010 / Notices
submission,13 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 Web site viewing and
printing 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
CBOE. All comments received will be
posted without change; the Commission
does not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–CBOE–2010–016 and
should be submitted on or before March
23, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–4231 Filed 3–1–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61557; File No. SR–NYSE–
2010–10]
Self-Regulatory Organizations; Notice
of Filing and Order Granting
Accelerated Approval of Proposed
Rule Change by New York Stock
Exchange LLC Changing Certain NYSE
Rules and Rule Interpretations To
Correspond With Rule Changes Filed
by the Financial Industry Regulatory
Authority, Inc.
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
February 22, 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 February
16, 2010, New York Stock Exchange
LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed
13 The text of the proposed rule change is
available on CBOE’s Web site at https://
www.cboe.org/Legal, on the Commission’s Web site
at https://www.sec.gov, at CBOE, and at the
Commission’s Public Reference Room.
14 17 CFR 200.30–3(a)(12).
1 15 U.S.C.78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b-4.
VerDate Nov<24>2008
15:07 Mar 01, 2010
Jkt 220001
with the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons and to approve the proposal on
an accelerated basis.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes changes to
certain NYSE Rules and Rule
Interpretations to correspond with rule
changes filed by the Financial Industry
Regulatory Authority, Inc. (‘‘FINRA’’)
and approved by the Commission.4 The
Exchange proposes to apply these
changes retroactively to February 8,
2010. The text of the proposed rule
change is available at the Exchange, the
Commission’s Public Reference Room,
and 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
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 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
The purpose of the proposed rule
changes is to adopt changes to certain
NYSE Rules and Rule Interpretations to
correspond with rule changes filed by
FINRA and approved by the
Commission. The Exchange proposes to
apply these changes retroactively to
February 8, 2010, the same effective
4 See Securities Exchange Act Release No. 60933
(November 4, 2009), 74 FR 58334 (November 12,
2009) (order approving SR–FINRA–2008–067).
FINRA also recently filed for immediate
effectiveness to (i) adopt non-substantive technical
changes to consolidated FINRA Rule 4521(d), and
(ii) amend FINRA Incorporated NYSE Rule 312(g).
See Securities Exchange Act Release No. 61408
(January 22, 2010), 75 FR 4596 (January 28, 2010)
(SR–FINRA–2010–004). See also SR–FINRA–2010–
008, filed on February 4, 2010. These changes are
incorporated in this rule filing.
PO 00000
Frm 00093
Fmt 4703
Sfmt 4703
date for FINRA’s rule changes.5 The
Exchange states that making the
proposed rule change retroactive to
February 8, 2010 would ensure that the
proposed rule changes are operative and
effective at the same time as FINRA’s
rule changes, that there are no
regulatory gaps between the FINRA and
NYSE Rules and that, as applicable, the
NYSE Rules maintain their status as
Common Rules under the 17d-2
Agreement.6
Background
On July 30, 2007, FINRA’s
predecessor, the National Association of
Securities Dealers, Inc. (‘‘NASD’’), and
NYSE Regulation, Inc. (‘‘NYSER’’)
consolidated their member firm
regulation operations into a combined
organization, FINRA. Pursuant to Rule
17d-2 under the Act,7 NYSE, NYSER
and FINRA entered into an agreement
(the ‘‘17d-2 Agreement’’) to reduce
regulatory duplication for their
members by allocating to FINRA certain
regulatory responsibilities for certain
NYSE rules and rule interpretations
(‘‘FINRA Incorporated NYSE Rules’’).
NYSE Amex LLC (‘‘NYSE Amex’’)
became a party to the 17d-2 Agreement
effective December 15, 2008.8
As part of its effort to reduce
regulatory duplication and relieve firms
that are members of FINRA, NYSE and
NYSE Amex of conflicting or
unnecessary regulatory burdens, FINRA
is now engaged in the process of
reviewing and amending the NASD and
FINRA Incorporated NYSE Rules in
order to create a consolidated FINRA
rulebook.9
5 See FINRA Regulatory Notice 09–71 (December
7, 2009).
6 As provided in paragraph 2(b) of the 17d-2
Agreement, FINRA and NYSE will amend the list
of Common Rules to conform to the rule changes
proposed herein.
7 15 U.S.C. 78a, et seq.
8 See Securities Exchange Act Release Nos. 56148
(July 26, 2007), 72 FR 42146 (August 1, 2007) (order
approving the 17d-2 Agreement); 56147 (July 26,
2007), 72 FR 42166 (August 1, 2007) (SR–NASD–
2007–054) (order approving the incorporation of
certain NYSE Rules as ‘‘Common Rules’’); and 60409
(July 30, 2009), 74 FR 39353 (August 6, 2009) (order
approving the amended and restated 17d-2
Agreement, adding NYSE Amex LLC as a party).
Paragraph 2(b) of the 17d-2 Agreement sets forth
procedures regarding proposed changes by FINRA,
NYSE or NYSE Amex to the substance of any of the
Common Rules.
9 FINRA’s rulebook currently has three sets of
rules: (1) NASD Rules, (2) FINRA Incorporated
NYSE Rules, and (3) consolidated FINRA Rules.
The FINRA Incorporated NYSE Rules apply only to
those members of FINRA that are also members of
the NYSE (‘‘Common Members’’), while the
consolidated FINRA Rules apply to all FINRA
members. For more information about the FINRA
rulebook consolidation process, see FINRA
Information Notice, March 12, 2008.
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]]>Agencies
[Federal Register Volume 75, Number 40 (Tuesday, March 2, 2010)]
[Notices]
[Pages 9471-9472]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-4231]
[[Page 9471]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61565; File No. SR-CBOE-2010-016]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Correct an Inadvertent Numbering Inconsistency
February 22, 2010.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on February 12, 2010, the Chicago Board Options Exchange,
Incorporated (``Exchange'' or ``CBOE'') filed with the Securities and
Exchange Commission (the ``Commission'') the proposed rule change as
described in Items I, II, and III below, which Items have been prepared
by the Exchange. The Exchange filed the proposal as a ``non-
controversial'' proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \3\ and Rule 19b-4(f)(6) thereunder.\4\ The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(iii).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to correct a numbering inconsistency in CBOE
Rule 6.53 that was unintentionally created by a recent CBOE rule
filing.\5\ The text of the proposed rule change is available on the
Exchange's Web site (www.cboe.org/Legal), at the Exchange's Office of
the Secretary and at the Commission.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 61248 (December 29,
2009), 75 FR 498 (January 5, 2010) (SR-CBOE-2009-097).
---------------------------------------------------------------------------
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 CBOE 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
Statutory Basis for, the Proposed Rule Change
1. Purpose
In SR-CBOE-2009-097, an error was inadvertently made in the
ordering of Rule 6.53. The subsection of Rule 6.53--Certain Types of
Orders Defined--regarding Reserve Orders was unintentionally ordered as
subsection (p), when there already exists a subparagraph (p) in that
rule. This filing is made in order to correct that error and to re-
order the subsection regarding Reserve Orders as subsection (t) to Rule
6.53. No substantive changes to CBOE rules would be made by this
proposal.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') \6\ and the rules and
regulations thereunder and, in particular, the requirements of Section
6(b) of the Act.\7\ Specifically, the Exchange believes the proposed
rule change is consistent with the Section 6(b)(5) \8\ requirements
that the rules of an exchange be designed to promote just and equitable
principles of trade, to prevent fraudulent and manipulative acts, to
remove impediments to and to perfect the mechanism for a free and open
market and a national market system, 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.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(1).
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
CBOE does not believe that the proposed rule change will impose any
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
The Exchange neither solicited nor received comments on the
proposal.
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 \9\ and Rule 19b-4(f)(6) thereunder.\10\
Because the foregoing proposed rule change does not: (1) Significantly
affect the protection of investors or the public interest; (2) impose
any significant burden on competition; and (3) become operative for
thirty 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, it has become effective pursuant to
Section 19(b)(3)(A) of the Act \11\ and Rule 19b-4(f)(6) \12\
thereunder.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6).
\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 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 the 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.
---------------------------------------------------------------------------
At any time within 60 days of the filing of such 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-CBOE-2010-016 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-CBOE-2010-016. 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
[[Page 9472]]
submission,\13\ 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 Web site viewing and printing 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 CBOE. All comments received will
be posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-CBOE-2010-016 and should be submitted on
or before March 23, 2010.
---------------------------------------------------------------------------
\13\ The text of the proposed rule change is available on CBOE's
Web site at https://www.cboe.org/Legal, on the Commission's Web site
at https://www.sec.gov, at CBOE, and at the Commission's Public
Reference Room.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------
\14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-4231 Filed 3-1-10; 8:45 am]
BILLING CODE 8011-01-P
