Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Filing of Proposed Minor Rule Violation Plan, 58011-58012 [2010-23765]

Download as PDF Federal Register / Vol. 75, No. 184 / Thursday, September 23, 2010 / Notices requires, among other things, that FINRA rules must be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest. The proposed rule change is consistent with FINRA’s statutory obligations under the Act to protect investors and the public interest because the proposal would help FINRA detect potential market manipulation or fraud at an earlier stage, which could minimize the financial losses of investors as well as the effects fraudulent schemes could have on the securities markets. Thus, the proposed rule change would strengthen FINRA’s ability to carry out its regulatory mission and provide another layer of protection to investors and the markets against fraud. B. Self-Regulatory Organization’s Statement on Burden on Competition FINRA 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. 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. srobinson on DSKHWCL6B1PROD with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve such proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be disapproved. 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. Interested persons are also invited to submit written data, views and arguments concerning an arbitration panel’s withdrawal. Comments may be submitted by any of the following methods: VerDate Mar<15>2010 16:52 Sep 22, 2010 Jkt 220001 58011 Electronic Comments thereunder,2 notice is hereby given that on September 10, 2010, the BATS Y• Use the Commission’s Internet Exchange, Inc. (‘‘BATS Y-Exchange’’ or comment form (https://www.sec.gov/ ‘‘Exchange’’), filed with the Securities rules/sro.shtml); or and Exchange Commission (the • Send an e-mail to rule‘‘Commission’’) copies of a proposed comments@sec.gov. Please include File minor rule violations plan with Number SR–FINRA–2010–036 on the sanctions not exceeding $2,500 which subject line. would not be subject to the provisions Paper Comments of Rule 19d–1(c)(1) of the Act 3 requiring that a self-regulatory organization • Send paper comments in triplicate promptly file notice with the to Elizabeth M. Murphy, Secretary, Commission of any final disciplinary Securities and Exchange Commission, action taken with respect to any person 100 F Street, NE., Washington, DC or organization.4 In accordance with 20549–1090. Rule 19d–1(c)(2) under the Act, the All submissions should refer to File Exchange proposed to designate certain Number SR–FINRA–2010–036. This file specified rule violations as minor rule number should be included on the violations, and requests that it be subject line if e-mail is used. To help the relieved of the reporting requirements Commission process and review your regarding such violations, provided it comments more efficiently, please use gives notice of such violations to the only one method. The Commission will Commission on a quarterly basis. post all comments on the Commission’s BATS Y-Exchange proposes to Internet Web site (https://www.sec.gov/ include in its proposed MRVP the rules/sro.shtml). Comments are also policies and procedures currently available for Web site viewing and included in BATS Y-Exchange Rule 8.15 printing in the Commission’s Public (‘‘Imposition of Fines for Minor Reference Room, 100 F Street, NE., Violation(s) of Rules’’).5 Washington, DC 20549, on official According to the Exchange’s proposed business days between the hours of 10 MRVP, under Rule 8.15, the Exchange a.m. and 3 p.m. Copies of such filing may impose a fine (not to exceed also will be available for inspection and $2,500) on a member or an associated copying at the principal office of person with respect to any rule listed in FINRA. All comments received will be Rule 8.15.01. The Exchange shall serve posted without change; the Commission the person against whom a fine is does not edit personal identifying imposed with a written statement information from submissions. You setting forth the rule or rules violated, should submit only information that the act or omission constituting each you wish to make available publicly. All such violation, the fine imposed, and submissions should refer to File the date by which such determination Number SR–FINRA–2010–036 and becomes final or by which such should be submitted on or before determination must be contested. If the October 14, 2010. person against whom the fine is imposed pays the fine, such payment For the Commission, by the Division of shall be deemed to be a waiver of such Trading and Markets, pursuant to delegated person’s right to a disciplinary authority.20 proceeding and any review of the matter Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–23776 Filed 9–22–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62924; File No. 10–198] Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Filing of Proposed Minor Rule Violation Plan September 16, 2010. Pursuant to Section 19(d)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’) 1 and Rule 19d–1(c)(2) 20 17 1 15 PO 00000 CFR 200.30–3(a)(12). U.S.C. 78s(d)(1). Frm 00125 Fmt 4703 Sfmt 4703 2 17 CFR 240.19d–1(c)(2). CFR 240.19d–1(c)(1). 4 The Commission adopted amendments to paragraph (c) of Rule 19d–1 to allow self-regulatory organizations (‘‘SROs’’) to submit for Commission approval plans for the abbreviated reporting of minor disciplinary infractions. See Securities Exchange Act Release No. 21013 (June 1, 1984), 49 FR 23828 (June 8, 1984). Any disciplinary action taken by an SRO against any person for violation of a rule of the SRO which has been designated as a minor rule violation pursuant to such a plan filed with the Commission shall not be considered ‘‘final’’ for purposes of Section 19(d)(1) of the Act if the sanction imposed consists of a fine not exceeding $2,500 and the sanctioned person has not sought an adjudication, including a hearing, or otherwise exhausted his administrative remedies. 5 On August 13, 2010, the Exchange’s application for registration as a national securities exchange, including the rules governing the BATS YExchange, was approved. See Securities Exchange Act Release No. 62716 (August 13, 2010), 75 FR 51295 (August 19, 2010) (File No. 10–198). 3 17 E:\FR\FM\23SEN1.SGM 23SEN1 58012 Federal Register / Vol. 75, No. 184 / Thursday, September 23, 2010 / Notices under BATS Y-Exchange rules. Any person against whom a fine is imposed may contest the Exchange’s determination by filing with the Exchange a written response, at which point the matter shall become a disciplinary proceeding. Under Rule 8.15.01, violations of the following rules would be appropriate for disposition under the minor rule violations plan: Rule 4.2 and Interpretations, thereunder, requiring the submission of responses to Exchange requests for trading data within specified time period; Rule 4.2 and Interpretations thereunder related to the requirement to furnish Exchangerelated order, market and transaction data, as well as financial or regulatory records and information; Rule 11.8(a)(1) requirement for Market Makers to maintain continuous two-sided limit orders; Rule 11.19 requirement to identify short sale orders as such; and Rule 11.20 requirement to comply with locked and crossed market rules. BATS Y-Exchange proposed to include the rule violations listed in Rule 8.15.01 in its minor rule violation plan. Upon approval of the plan, the Exchange will provide the Commission a quarterly report of actions taken on minor rule violations under the plan. The quarterly report will include: The Exchange’s internal file number for the case, the name of the individual and/or organization, the nature of the violation, the specific rule provision violated, the sanction imposed, the number of times the rule violation has occurred, and the date of disposition.6 I. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning BATS YExchange’s proposed Minor Rule Violation Plan, including whether the proposed plan is consistent with the Act. Comments may be submitted by any of the following methods: srobinson on DSKHWCL6B1PROD with NOTICES 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 No. 10–198 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549–1090. 6 BATS Y-Exchange attached a sample form of the quarterly report with its submission to the Commission. VerDate Mar<15>2010 16:52 Sep 22, 2010 Jkt 220001 All submissions should refer to File No. 10–198. 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 MRVP that are filed with the Commission, and all written communications relating to the proposed Minor MRVP 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 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 No. 10–198 and should be submitted on or before October 14, 2010. II. Date of Effectiveness of the Proposed Minor Rule Violation Plan and Timing for Commission Action Pursuant to Section 19d–1 of the Act and Rule 19d–1(c)(2) thereunder,7 after October 14, 2010, the Commission may, by order, declare BATS Y-Exchange’s proposed MRVP effective if the plan is consistent with the public interest, the protection of investors, or otherwise in furtherance of the purposes of the Act. The Commission in its order may restrict the categories of violations to be designated as minor rule violations and may impose any other terms or conditions to the proposed MRVP, File No. 10–198, and to the period of its effectiveness which the Commission deems necessary or appropriate in the public interest, for the protection of investors or otherwise in furtherance of the purposes of this Act. 7 15 PO 00000 U.S.C. 78s(d)(1); 17 CFR 240.19d-1(c)(2). Frm 00126 Fmt 4703 Sfmt 4703 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–23765 Filed 9–22–10; 8:45 am] BILLING CODE 8010–01–P DEPARTMENT OF STATE [Public Notice: 7183; OMB Control Number 1405–0101] 30-Day Notice of Proposed Information Collection: DS–156E Nonimmigrant Treaty Trader/Investor Application Notice of request for public comment and submission to OMB of proposed collection of information. ACTION: The Department of State has submitted the following information collection request to the Office of Management and Budget (OMB) for approval in accordance with the Paperwork Reduction Act of 1995. • Title of Information Collection: Nonimmigrant Treaty Trader/Investor Application. • OMB Control Number: 1405–0101. • Type of Request: Extension of a Currently Approved Collection. • Originating Office: Bureau of Consular Affairs, Department of State (CA/VO). • Form Number: DS–156E. • Respondents: Nonimmigrant treaty trader/investor visa applicants. • Estimated Number of Respondents: 17,000. • Estimated Number of Responses: 17,000. • Average Hours per Response: 4 hours. • Total Estimated Burden: 68,000 hours per year. • Frequency: Once per respondent. • Obligation to Respond: Required to Obtain or Retain a Benefit. DATES: Submit comments to the Office of Management and Budget (OMB) for up to 30 days from September 23, 2010. ADDRESSES: Direct comments to the Department of State Desk Officer in the Office of Information and Regulatory Affairs at the Office of Management and Budget (OMB). You may submit comments by the following methods: • E-mail: oira_submission@omb.eop.gov. You must include the DS form number, information collection title, and OMB control number in the subject line of your message. • Fax: 202–395–5806. Attention: Desk Officer for Department of State. SUMMARY: 8 17 E:\FR\FM\23SEN1.SGM CFR 200.30–3(a)(44). 23SEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 75, Number 184 (Thursday, September 23, 2010)]
[Notices]
[Pages 58011-58012]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-23765]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62924; File No. 10-198]


Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of 
Filing of Proposed Minor Rule Violation Plan

September 16, 2010.
    Pursuant to Section 19(d)(1) of the Securities Exchange Act of 1934 
(the ``Act'') \1\ and Rule 19d-1(c)(2) thereunder,\2\ notice is hereby 
given that on September 10, 2010, the BATS Y-Exchange, Inc. (``BATS Y-
Exchange'' or ``Exchange''), filed with the Securities and Exchange 
Commission (the ``Commission'') copies of a proposed minor rule 
violations plan with sanctions not exceeding $2,500 which would not be 
subject to the provisions of Rule 19d-1(c)(1) of the Act \3\ requiring 
that a self-regulatory organization promptly file notice with the 
Commission of any final disciplinary action taken with respect to any 
person or organization.\4\ In accordance with Rule 19d-1(c)(2) under 
the Act, the Exchange proposed to designate certain specified rule 
violations as minor rule violations, and requests that it be relieved 
of the reporting requirements regarding such violations, provided it 
gives notice of such violations to the Commission on a quarterly basis.
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    \1\ 15 U.S.C. 78s(d)(1).
    \2\ 17 CFR 240.19d-1(c)(2).
    \3\ 17 CFR 240.19d-1(c)(1).
    \4\ The Commission adopted amendments to paragraph (c) of Rule 
19d-1 to allow self-regulatory organizations (``SROs'') to submit 
for Commission approval plans for the abbreviated reporting of minor 
disciplinary infractions. See Securities Exchange Act Release No. 
21013 (June 1, 1984), 49 FR 23828 (June 8, 1984). Any disciplinary 
action taken by an SRO against any person for violation of a rule of 
the SRO which has been designated as a minor rule violation pursuant 
to such a plan filed with the Commission shall not be considered 
``final'' for purposes of Section 19(d)(1) of the Act if the 
sanction imposed consists of a fine not exceeding $2,500 and the 
sanctioned person has not sought an adjudication, including a 
hearing, or otherwise exhausted his administrative remedies.
---------------------------------------------------------------------------

    BATS Y-Exchange proposes to include in its proposed MRVP the 
policies and procedures currently included in BATS Y-Exchange Rule 8.15 
(``Imposition of Fines for Minor Violation(s) of Rules'').\5\
---------------------------------------------------------------------------

    \5\ On August 13, 2010, the Exchange's application for 
registration as a national securities exchange, including the rules 
governing the BATS Y-Exchange, was approved. See Securities Exchange 
Act Release No. 62716 (August 13, 2010), 75 FR 51295 (August 19, 
2010) (File No. 10-198).
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    According to the Exchange's proposed MRVP, under Rule 8.15, the 
Exchange may impose a fine (not to exceed $2,500) on a member or an 
associated person with respect to any rule listed in Rule 8.15.01. The 
Exchange shall serve the person against whom a fine is imposed with a 
written statement setting forth the rule or rules violated, the act or 
omission constituting each such violation, the fine imposed, and the 
date by which such determination becomes final or by which such 
determination must be contested. If the person against whom the fine is 
imposed pays the fine, such payment shall be deemed to be a waiver of 
such person's right to a disciplinary proceeding and any review of the 
matter

[[Page 58012]]

under BATS Y-Exchange rules. Any person against whom a fine is imposed 
may contest the Exchange's determination by filing with the Exchange a 
written response, at which point the matter shall become a disciplinary 
proceeding.
    Under Rule 8.15.01, violations of the following rules would be 
appropriate for disposition under the minor rule violations plan: Rule 
4.2 and Interpretations, thereunder, requiring the submission of 
responses to Exchange requests for trading data within specified time 
period; Rule 4.2 and Interpretations thereunder related to the 
requirement to furnish Exchange-related order, market and transaction 
data, as well as financial or regulatory records and information; Rule 
11.8(a)(1) requirement for Market Makers to maintain continuous two-
sided limit orders; Rule 11.19 requirement to identify short sale 
orders as such; and Rule 11.20 requirement to comply with locked and 
crossed market rules.
    BATS Y-Exchange proposed to include the rule violations listed in 
Rule 8.15.01 in its minor rule violation plan. Upon approval of the 
plan, the Exchange will provide the Commission a quarterly report of 
actions taken on minor rule violations under the plan. The quarterly 
report will include: The Exchange's internal file number for the case, 
the name of the individual and/or organization, the nature of the 
violation, the specific rule provision violated, the sanction imposed, 
the number of times the rule violation has occurred, and the date of 
disposition.\6\
---------------------------------------------------------------------------

    \6\ BATS Y-Exchange attached a sample form of the quarterly 
report with its submission to the Commission.
---------------------------------------------------------------------------

I. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning BATS Y-Exchange's proposed Minor Rule Violation 
Plan, including whether the proposed plan 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 No. 10-198 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, Station Place, 100 F 
Street, NE., Washington, DC 20549-1090.

All submissions should refer to File No. 10-198. 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 MRVP that are filed with the 
Commission, and all written communications relating to the proposed 
Minor MRVP 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 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 No. 10-198 and should be submitted on or before 
October 14, 2010.

II. Date of Effectiveness of the Proposed Minor Rule Violation Plan and 
Timing for Commission Action

    Pursuant to Section 19d-1 of the Act and Rule 19d-1(c)(2) 
thereunder,\7\ after October 14, 2010, the Commission may, by order, 
declare BATS Y-Exchange's proposed MRVP effective if the plan is 
consistent with the public interest, the protection of investors, or 
otherwise in furtherance of the purposes of the Act. The Commission in 
its order may restrict the categories of violations to be designated as 
minor rule violations and may impose any other terms or conditions to 
the proposed MRVP, File No. 10-198, and to the period of its 
effectiveness which the Commission deems necessary or appropriate in 
the public interest, for the protection of investors or otherwise in 
furtherance of the purposes of this Act.
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    \7\ 15 U.S.C. 78s(d)(1); 17 CFR 240.19d-1(c)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(44).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-23765 Filed 9-22-10; 8:45 am]
BILLING CODE 8010-01-P

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