Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Amex LLC Making a Technical Amendment to Its Rules to Insert the Specific Date for the Additional Expiration Months Pilot Program, 70056-70057 [2010-28778]
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70056
Federal Register / Vol. 75, No. 220 / Tuesday, November 16, 2010 / Notices
For the Commission by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–28830 Filed 11–15–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NYSE
Amex LLC Making a Technical
Amendment to Its Rules to Insert the
Specific Date for the Additional
Expiration Months Pilot Program
November 9, 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
November 8, 2010, NYSE Amex LLC
(the ‘‘Exchange’’ or ‘‘NYSE Amex’’) 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 Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
mstockstill on DSKH9S0YB1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to make a
technical amendment to its rules to
insert the specific date for a pilot
program. The text of the proposed rule
change is available at the Exchange’s
principal office, on the Commission’s
Web site at https://www.sec.gov, at 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
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
10 In approving the proposed rule change, the
Commission considered the proposal’s impact on
efficiency, competition and capital formation. 15
U.S.C. 78c(f).
11 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
19:33 Nov 15, 2010
Jkt 223001
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 proposed rule change is effective
upon filing pursuant to Section
19(b)(3)(A) of the Act 7 and Rule 19b–
4(f)(1) thereunder.8 The Exchange
designates the proposed rule change as
an interpretation with respect to the
meaning, administration, or
enforcement of an existing rule.
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.
1. Purpose
[Release No. 34–63287; File No. SR–
NYSEAmex–2010–105]
VerDate Mar<15>2010
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
OCC–2010–16) be and hereby is
approved.10
The Exchange proposes to make a
technical amendment to its rules to
insert a specific date for a pilot program.
The Exchange recently adopted rules
to establish a pilot program that would
permit the Exchange to list up to an
additional two expiration months, for a
total of six expiration months for each
class of options open for trading on the
Exchange.3 This rule change proposes to
amend the text of Commentary .11 to
Rule 903 to insert the specific
conclusion date of the pilot program,
which is October 31, 2011.4
2. Statutory Basis
The Exchange believes that this
proposed rule change is consistent with
Section 6(b) of the Securities Exchange
Act of 1934 (‘‘Act’’),5 in general, and
furthers the objectives of Section 6(b)(5)
of the Act 6 in particular, in that it is
designed to prevent fraudulent and
manipulative acts and practices,
promote just and equitable principles of
trade, 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. In
particular, the proposed rule change
seeks to update rule text to insert
specific dates for a pilot program in a
manner that is consistent with the pilot
program as originally proposed.
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.
3 See Securities Exchange Act Release No. 63170
(October 25, 2010), 75 FR 66818 (October 29, 2010)
(Notice of Filing and Immediate Effectiveness of
SR–NYSEAmex–2010–99).
4 Existing rule text, which became effective and
operative immediately upon filing on October 22,
2010, indicates that the Exchange will insert the
date 12 months from the next full month from
approval. Id.
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00144
Fmt 4703
Sfmt 4703
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSEAmex–2010–105 on
the subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–NYSEAmex–2010–105.
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
7 15
8 17
E:\FR\FM\16NON1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(1).
16NON1
Federal Register / Vol. 75, No. 220 / Tuesday, November 16, 2010 / Notices
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 website 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
Exchange. All comments received will
be posted without change; the
Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–
NYSEAmex–2010–105 and should be
submitted on or before December 7,
2010.
comments on the proposed rule change
from interested persons.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
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 these statements may be examined at
the places specified in Item IV below.
The self-regulatory organization has
prepared summaries, set forth in
sections A, B and C below, of the most
significant aspects of such statements.
[FR Doc. 2010–28778 Filed 11–15–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63286; File No. SR–EDGA–
2010–16]
Self-Regulatory Organizations; EDGA
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend EDGA Rules
2.5 and 11.4 To Permit Qualification
and Registration of Authorized Traders
of Members Pursuant to Certain
Foreign Examination Modules
Equivalent to the Series 7 Examination
mstockstill on DSKH9S0YB1PROD with NOTICES
November 9, 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 October
27, 2010, the EDGA Exchange, Inc. (the
‘‘Exchange’’ or the ‘‘EDGA’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which items have
been prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Mar<15>2010
19:33 Nov 15, 2010
Jkt 223001
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rules 2.5 and 11.4 to permit
qualification and registration of
Authorized Traders of Members
pursuant to certain foreign examination
modules equivalent to the Series 7
examination. The Exchange also
proposes to make a technical
amendment to Rule 2.3. The text of the
proposed rule change is available on the
Exchange’s Web site at https://
www.directedge.com, at the
Commission’s Web site at https://
www.sec.gov, at the Exchange’s
principal office, and at the Public
Reference Room of the Commission.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Exchange Rules 2.5 and 11.4 both
state that the Series 7 is required for
registration with the Exchange as an
Authorized Trader. The purpose of the
proposed rule change is to expand the
types of exams that may satisfy the
Exchange’s Series 7 requirement by
recognizing foreign examination
modules equivalent to the Series 7
examination.
The proposal would reduce
duplicative qualification standards that
foreign registered representatives
encounter to qualify as a U.S. general
securities registered representative. For
example, the examination modules for
the U.K. (Series 17) and Canada (Series
37/38) currently are accepted as
equivalent to the U.S. Series 7 by the
NYSE, the Financial Industry
Regulatory Authority (‘‘FINRA’’), the
NASDAQ Stock Market, NYSE
AlterNext US [sic], NYSE Arca, the
PO 00000
Frm 00145
Fmt 4703
Sfmt 4703
70057
Chicago Board Options Exchange
(‘‘CBOE’’), and the BATS Exchange, Inc.
(‘‘BATS’’).3
The Series 17 version, the United
Kingdom—Limited General Securities
Registered Representative Examination,
is for U.K. registrants who have
successfully completed the basic exam
of the U.K. and who are in good
standing with the Financial Services
Authority (‘‘FSA’’). Essentially, this
modified Series 7 examination deletes
those substantive sections of the
standard Series 7 that overlap with the
FSA examination. The Series 17 is a 100
question examination, is 120 minutes in
duration, and deals with U.S. securities
laws, regulations, sales practices and
special products drawn from the
standard Series 7 examination.
The Series 37 version is for Canadian
registrants who have successfully
completed the basic core module of the
CSI Global Education (‘‘CSI’’, formerly
the Canadian Securities Institute)
program. The Series 38 version is for
Canadian registrants who, in addition to
having successfully completed the basic
core module of the CSI program, have
also successfully completed the
Canadian option and futures program.
Both the Series 37 and 38 share topics
and test questions with the parent Series
7 program but cover only subject matter
that is not covered, or not covered in
sufficient detail, on the Canadian
qualification examination. The Series 37
has 90 questions and is 150 minutes in
duration, while the Series 38, an
abbreviated version of the series 37, has
only 45 questions and is 75 minutes in
duration. Forty-five questions pertaining
to options from the series 37 were
omitted from the Series 38.
The Exchange wishes to give U.K. and
Canadian registered representatives the
same advantage they have at other
exchanges by eliminating duplicative
examinations. The Exchange believes
that acceptance of these examinations
3 See, e.g., Securities Exchange Act Release No.
27967 (May 1, 1990), 55 FR 19124 (May 8, 1990)
(approving File No. SR–NYSE–89–22, Series 17);
Securities Exchange Act Release No. 36629,
International Series Release No. 909 (Dec. 21, 1995),
60 FR 67385, corrected, Securities Exchange Act
Release No. 36629A, International Series Release
No. 909A (Jan. 4, 1996), 61 FR 744 (Jan. 10, 1996)
(approving File No. SR–NYSE–95–29, Series 37 and
Series 38); Securities Exchange Act Release No.
36825 (Feb. 9, 1996), 61 FR 6052 (approving File
No. SR–NASD–96–04, Series 37 and 38); Securities
Exchange Act Release No. 38274 (February 12,
1997), 62 FR 7485 (approving File No. SR–CBOE–
97–04, Series 17, 37 and 38); Securities Exchange
Act Release No. 38921 (August 11, 1997), 62 FR
44023 (approving File No. SR–AMEX–97–26, Series
17, 37 and 38); see also NASD Rule 1032(a)(2)(B)
and (C); NASDAQ Rule 1032(a)(2)(B) and (C);
Securities Exchange Act Release No. 59292 (January
23, 2009), 74 FR 5690 (January 30, 2009) (approving
File No. SR–BATS–2009–003).
E:\FR\FM\16NON1.SGM
16NON1
]]>Agencies
[Federal Register Volume 75, Number 220 (Tuesday, November 16, 2010)]
[Notices]
[Pages 70056-70057]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-28778]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63287; File No. SR-NYSEAmex-2010-105]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by NYSE Amex LLC Making a
Technical Amendment to Its Rules to Insert the Specific Date for the
Additional Expiration Months Pilot Program
November 9, 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 November 8, 2010, NYSE Amex LLC (the ``Exchange'' or ``NYSE
Amex'') 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 Exchange. The Commission
is publishing this notice to solicit comments on the proposed rule
change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to make a technical amendment to its rules to
insert the specific date for a pilot program. The text of the proposed
rule change is available at the Exchange's principal office, on the
Commission's Web site at https://www.sec.gov, at 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 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
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to make a technical amendment to its rules to
insert a specific date for a pilot program.
The Exchange recently adopted rules to establish a pilot program
that would permit the Exchange to list up to an additional two
expiration months, for a total of six expiration months for each class
of options open for trading on the Exchange.\3\ This rule change
proposes to amend the text of Commentary .11 to Rule 903 to insert the
specific conclusion date of the pilot program, which is October 31,
2011.\4\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 63170 (October 25,
2010), 75 FR 66818 (October 29, 2010) (Notice of Filing and
Immediate Effectiveness of SR-NYSEAmex-2010-99).
\4\ Existing rule text, which became effective and operative
immediately upon filing on October 22, 2010, indicates that the
Exchange will insert the date 12 months from the next full month
from approval. Id.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that this proposed rule change is consistent
with Section 6(b) of the Securities Exchange Act of 1934 (``Act''),\5\
in general, and furthers the objectives of Section 6(b)(5) of the Act
\6\ in particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, promote just and equitable principles
of trade, 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. In particular, the proposed rule
change seeks to update rule text to insert specific dates for a pilot
program in a manner that is consistent with the pilot program as
originally proposed.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 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 proposed rule change is effective upon filing pursuant to
Section 19(b)(3)(A) of the Act \7\ and Rule 19b-4(f)(1) thereunder.\8\
The Exchange designates the proposed rule change as an interpretation
with respect to the meaning, administration, or enforcement of an
existing rule.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
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 rule-comments@sec.gov. Please include
File Number SR-NYSEAmex-2010-105 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSEAmex-2010-105.
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
[[Page 70057]]
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 website 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 Exchange. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-NYSEAmex-2010-105 and should be submitted on or before
December 7, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-28778 Filed 11-15-10; 8:45 am]
BILLING CODE 8011-01-P
