Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Promote Efficiencies Within the Legal Notice System, 50032-50033 [2010-20182]

Download as PDF 50032 Federal Register / Vol. 75, No. 157 / Monday, August 16, 2010 / Notices For the Commission by the Division of Trading and Markets, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–20181 Filed 8–13–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62686; File No. SR–DTC– 2010–10] Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Promote Efficiencies Within the Legal Notice System August 10, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on July 29, 2010, The Depository Trust Company (‘‘DTC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change described in Items I and II below, which items have been prepared primarily by DTC. DTC filed the proposal pursuant to Section 19(b)(3)(A)(iii) of the Act 2 and Rule 19b–4(f)(4) 3 thereunder so that the proposal was effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the rule change from interested parties. sroberts on DSKD5P82C1PROD with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change promotes efficiencies within the Legal Notice System (‘‘LENS’’). II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, DTC 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. DTC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of these statements.4 8 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 15 U.S.C. 78s(b)(3)(A)(iii). 3 17 CFR 240.19b–4(f)(4). 4 The Commission has modified the text of the summaries prepared by DTC. 1 15 VerDate Mar<15>2010 18:51 Aug 13, 2010 Jkt 220001 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose In 1991, DTC created LENS to reduce the amount of paper that DTC participants (‘‘Participants’’) receive in connection with DTC’s distribution of legal notices. At that time, notices were made available through an electronic format through DTC’s proprietary PTS 3270 terminal network (‘‘PTS service’’).5 In 2000, DTC enhanced LENS by making the notices available over the Internet (‘‘Web service’’).6 The Web service improved the PTS service by: (i) Reducing the costs of distribution, which cost was ultimately borne by Participants, (ii) offering online viewing of notices and notice download capability, and (iii) providing up-to-date functionality that a web environment supports such as the option to receive e-mail alerts when new notices are posted for CUSIPs specified by the user. The Web service is also more accessible, requiring little or no training when Participants bring on new staff. Recently, DTC has been studying whether further enhancements and efficiencies can be made to the LENS service. In an effort to reduce the costs associated with LENS, DTC will end the use of the LENS service through PTS effective August 27, 2010. DTC has notified Participants currently using the LENS system through PTS by Important Notice on a ‘‘splash screen’’ (displayed when Participants sign on to PTS) and through its Relationship Management newsletter. Participants will continue to have access to LENS through the Web service, which, as mentioned previously, provides greater ease of use and functionality. 2. Statutory Basis DTC believes that the proposed rule change is consistent with Section 17A of the Act 7 because it controls costs associated with a service provided by DTC and therefore does not significantly affect the respective rights or obligations of DTC or persons using the service. (B) Self-Regulatory Organization’s Statement on Burden on Competition DTC does not believe that the proposed rule change will have any impact or impose any burden on competition. 5 Securities Exchange Act Release No. 34–29291 (June 12, 1991), 56 FR 28190 (June 19, 1991). 6 Securities Exchange Act Release No. 34–43964 (February 14, 2001), 66 FR 1190 (February 22, 2001). 7 15 U.S.C. 78q–1. PO 00000 Frm 00147 Fmt 4703 Sfmt 4703 (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments relating to the proposed rule change were not and are not intended to be solicited or received. DTC will notify the Commission of any written comments received by DTC. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective upon filing pursuant to Section 19(b)(3)(A)(iii) of the Act 8 and Rule 19b–4(f)(4) 9 thereunder because the proposed rule change effects a change in an existing service of DTC that: (i) Does not adversely affect the safeguarding of securities or funds in DTC’s custody or control or for which it is responsible and (ii) does not significantly affect the respective rights and obligations of DTC or persons using the service. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend 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–DTC–2010–10 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–DTC–2010–10. 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 8 15 9 17 E:\FR\FM\16AUN1.SGM U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(4). 16AUN1 Federal Register / Vol. 75, No. 157 / Monday, August 16, 2010 / Notices 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 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 such filings also will be available for inspection and copying at the principal office of DTC and on DTC’s Web site at https:// www.dtcc.com/downloads/legal/ rule_filings/2010/dtc/2010-10.pdf. 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–DTC–2010–10 and should be submitted on or before September 7, 2010. the 2010 Annual GSP Product Review to 5 p.m., Friday, August 13, 2010. Notification of which petitions are accepted for the 2010 Annual GSP Review and of other relevant dates will be announced in the Federal Register at a later date. FOR FURTHER INFORMATION CONTACT: Tameka Cooper, GSP Program, Office of the United States Trade Representative, 1724 F Street, NW., Room 601, Washington, DC 20508. The telephone number is (202) 395–6971, the fax number is (202) 395–2961, and the e-mail address is Tameka_Cooper@ustr.eop.gov. Public versions of the petitions submitted will be available for public viewing in docket USTR–2010–0017 at https://www.regulations.gov upon completion of processing and no later than approximately two weeks after the extended August 13, 2010 due date. Seth Vaughn, Director, GSP Program; Chairman, GSP Subcommittee of the Trade Policy Staff Committee; Office of the U.S. Trade Representative. [FR Doc. 2010–19980 Filed 8–13–10; 8:45 am] BILLING CODE 3190–W0–P OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE [Docket No. USTR–2010–0013] 50033 Public comments should be submitted electronically to https:// www.regulations.gov, docket number USTR–2010–0013. If you are unable to provide submissions by https:// www.regulations.gov, please contact Sandy McKinzy at (202) 395–9483 to arrange for an alternative method of transmission. If (as explained below) the comment contains confidential information, then the comment should be submitted by fax only to Sandy McKinzy at (202) 395–3640. FOR FURTHER INFORMATION CONTACT: Richard Chriss, Chief Agriculture Counsel, Office of the United States Trade Representative, 600 17th Street, NW., Washington, DC 20508, (202) 395– 5962. SUPPLEMENTARY INFORMATION: Section 127(b) of the Uruguay Round Agreements Act (URAA) (19 U.S.C. 2527(b)(1)) requires that notice and opportunity for comment be provided after the United States submits or receives a request for the establishment of a WTO dispute settlement panel. Consistent with this obligation, USTR is providing notice that Indonesia has requested the establishment of a dispute settlement panel pursuant to the WTO Understanding on Rules and Procedures Governing the Settlement of Disputes (‘‘DSU’’). The panel was established pursuant to the DSU on July 20, 2010, and is expected to hold its meetings in Geneva, Switzerland, and to issue a report on its findings and recommendations within nine months after the date of its establishment. ADDRESSES: For the Commission by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. WTO Dispute Settlement Proceeding Regarding United States—Measures Affecting the Production and Sale of Clove Cigarettes [FR Doc. 2010–20182 Filed 8–13–10; 8:45 am] AGENCY: Major Issues Raised by Indonesia The Office of the United States Trade Representative (‘‘USTR’’) is providing notice that on June 10, 2010, the United States received a request from the Republic of Indonesia (‘‘Indonesia’’) for the establishment of a dispute settlement panel under the Marrakesh Agreement Establishing the World Trade Organization (‘‘WTO Agreement’’) regarding a provision of the Family Smoking Prevention and Tobacco Control Act (Pub. L. 111–31). That request may be found at https:// www.wto.org in a document designated as WT/DS406/2. USTR invites written comments from the public concerning the issues raised in this dispute. DATES: Although USTR will accept any comments received during the course of the dispute settlement proceedings, comments should be submitted on or before September 15, 2010 to be assured of timely consideration by USTR. In its request for establishment of a panel, Indonesia challenges a provision of the Family Smoking Prevention and Tobacco Control Act (Pub. L. 111–31) (the ‘‘Act’’). Among other things, the Act amends the Federal Food, Drug, and Cosmetic Act by adding a new Section 907. Section 907 bans sales of all flavored cigarettes, other than tobacco or menthol flavors, wherever they are produced, beginning 90 days after the legislation was signed into law (September 20, 2009). Indonesia states that it considers Section 907 to be inconsistent with the obligations of the United States under Article III:4 and Article XX of the General Agreement on Tariffs and Trade 1994, and Articles 2.1, 2.2, 2.5, 2.8, 2.9, 2.10, 2.12, and 12.3 of the Agreement on Technical Barriers to Trade. Indonesia further states that if the United States should assert that the measure at issue is an SPS measure, then it is Indonesia’s view that the measure is inconsistent with Articles 2, 3, 5, and 7 of the Agreement on the Office of the United States Trade Representative. ACTION: Notice; request for comments. BILLING CODE 8010–01–P SUMMARY: OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE Generalized System of Preferences (GSP): Notice Extending Deadline for Submission of Petitions for the 2010 Annual GSP Product Review Office of the United States Trade Representative. ACTION: Notice of extension of deadline for public petitions. AGENCY: On July 15, 2010, a public notice was published in the Federal Register on pages 41274–41276 requesting petitions by August 3, 2010, to modify the list of products that are eligible for duty-free treatment under the Generalized System of Preferences (GSP) program. This notice extends the deadline for submission of petitions for sroberts on DSKD5P82C1PROD with NOTICES SUMMARY: 10 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 18:51 Aug 13, 2010 Jkt 220001 PO 00000 Frm 00148 Fmt 4703 Sfmt 4703 E:\FR\FM\16AUN1.SGM 16AUN1

Agencies

[Federal Register Volume 75, Number 157 (Monday, August 16, 2010)]
[Notices]
[Pages 50032-50033]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-20182]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62686; File No. SR-DTC-2010-10]


Self-Regulatory Organizations; The Depository Trust Company; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Promote Efficiencies Within the Legal Notice System

August 10, 2010.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on July 29, 2010, The 
Depository Trust Company (``DTC'') filed with the Securities and 
Exchange Commission (``Commission'') the proposed rule change described 
in Items I and II below, which items have been prepared primarily by 
DTC. DTC filed the proposal pursuant to Section 19(b)(3)(A)(iii) of the 
Act \2\ and Rule 19b-4(f)(4) \3\ thereunder so that the proposal was 
effective upon filing with the Commission. The Commission is publishing 
this notice to solicit comments on the rule change from interested 
parties.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \3\ 17 CFR 240.19b-4(f)(4).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The proposed rule change promotes efficiencies within the Legal 
Notice System (``LENS'').

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, DTC 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. DTC has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of these 
statements.\4\
---------------------------------------------------------------------------

    \4\ The Commission has modified the text of the summaries 
prepared by DTC.
---------------------------------------------------------------------------

(A) Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    In 1991, DTC created LENS to reduce the amount of paper that DTC 
participants (``Participants'') receive in connection with DTC's 
distribution of legal notices. At that time, notices were made 
available through an electronic format through DTC's proprietary PTS 
3270 terminal network (``PTS service'').\5\ In 2000, DTC enhanced LENS 
by making the notices available over the Internet (``Web service'').\6\ 
The Web service improved the PTS service by: (i) Reducing the costs of 
distribution, which cost was ultimately borne by Participants, (ii) 
offering online viewing of notices and notice download capability, and 
(iii) providing up-to-date functionality that a web environment 
supports such as the option to receive e-mail alerts when new notices 
are posted for CUSIPs specified by the user. The Web service is also 
more accessible, requiring little or no training when Participants 
bring on new staff.
---------------------------------------------------------------------------

    \5\ Securities Exchange Act Release No. 34-29291 (June 12, 
1991), 56 FR 28190 (June 19, 1991).
    \6\ Securities Exchange Act Release No. 34-43964 (February 14, 
2001), 66 FR 1190 (February 22, 2001).
---------------------------------------------------------------------------

    Recently, DTC has been studying whether further enhancements and 
efficiencies can be made to the LENS service. In an effort to reduce 
the costs associated with LENS, DTC will end the use of the LENS 
service through PTS effective August 27, 2010. DTC has notified 
Participants currently using the LENS system through PTS by Important 
Notice on a ``splash screen'' (displayed when Participants sign on to 
PTS) and through its Relationship Management newsletter. Participants 
will continue to have access to LENS through the Web service, which, as 
mentioned previously, provides greater ease of use and functionality.
2. Statutory Basis
    DTC believes that the proposed rule change is consistent with 
Section 17A of the Act \7\ because it controls costs associated with a 
service provided by DTC and therefore does not significantly affect the 
respective rights or obligations of DTC or persons using the service.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78q-1.
---------------------------------------------------------------------------

(B) Self-Regulatory Organization's Statement on Burden on Competition

    DTC does not believe that the proposed rule change will have any 
impact or impose any burden on competition.

(C) Self-Regulatory Organization's Statement on Comments on the 
Proposed Rule Change Received From Members, Participants, or Others

    Written comments relating to the proposed rule change were not and 
are not intended to be solicited or received. DTC will notify the 
Commission of any written comments received by DTC.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing proposed rule change has become effective upon filing 
pursuant to Section 19(b)(3)(A)(iii) of the Act \8\ and Rule 19b-
4(f)(4) \9\ thereunder because the proposed rule change effects a 
change in an existing service of DTC that: (i) Does not adversely 
affect the safeguarding of securities or funds in DTC's custody or 
control or for which it is responsible and (ii) does not significantly 
affect the respective rights and obligations of DTC or persons using 
the service. At any time within 60 days of the filing of the proposed 
rule change, the Commission summarily may temporarily suspend 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.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \9\ 17 CFR 240.19b-4(f)(4).
---------------------------------------------------------------------------

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-DTC-2010-10 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-DTC-2010-10. 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

[[Page 50033]]

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 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 such filings also will be available for inspection and 
copying at the principal office of DTC and on DTC's Web site at https://www.dtcc.com/downloads/legal/rule_filings/2010/dtc/2010-10.pdf.
    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-DTC-2010-10 
and should be submitted on or before September 7, 2010.

    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. 2010-20182 Filed 8-13-10; 8:45 am]
BILLING CODE 8010-01-P
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