Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of Revisions to the Selection Specifications for the Municipal Securities Representative Qualification Examination (Series 52) Program, 2162-2163 [2011-433]
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Federal Register / Vol. 76, No. 8 / Wednesday, January 12, 2011 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Elizabeth M. Murphy,
Secretary.
https://www.msrb.org/Rules-andInterpretations/SEC–Filings/2010–
Filings.aspx, at the MSRB’s principal
office, and at the Commission’s Public
Reference Room.
[FR Doc. 2011–443 Filed 1–11–11; 8:45 am]
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
MSRB 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 MSRB has
prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63645; File No. SR–MSRB–
2010–18]
Self-Regulatory Organizations;
Municipal Securities Rulemaking
Board; Notice of Filing and Immediate
Effectiveness of Revisions to the
Selection Specifications for the
Municipal Securities Representative
Qualification Examination (Series 52)
Program
January 5, 2011.
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 December
23, 2010, the Municipal Securities
Rulemaking Board (‘‘Board’’ or ‘‘MSRB’’)
filed with the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’) a
proposed rule change as described in
Items I, II, and III below, which Items
have been substantially prepared by the
MSRB. The MSRB has designated the
proposed rule change as constituting a
stated policy, practice, or interpretation
with respect to the meaning,
administration, or enforcement of an
existing rule of the self-regulatory
organization pursuant to Section
19(b)(3)(A)(i) 3 of the Act and Rule 19b–
4(f)(1) thereunder,4 which renders the
proposal effective upon filing with the
Commission. The MSRB proposes to
implement the revised Series 52
examination program on January 3,
2011. 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 MSRB is filing with the
Commission revisions to the selection
specifications for the Municipal
Securities Representative Qualification
Examination (Series 52) program.
The text of the proposed rule change
is available on the MSRB’s Web site at
15 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(i).
4 17 CFR 240.19b–4(f)(1).
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Section 15B(b)(2)(A) of the Act 5
authorizes the MSRB to prescribe
standards of training, experience,
competence, and such other
qualifications as the Board finds
necessary or appropriate in the public
interest or for the protection of investors
and municipal entities or obligated
persons. On November 10, 2010, the
MSRB filed with the Commission a
proposed rule change (File No. SR–
MSRB–2010–12) consisting of revisions
to the study outline and selection
specifications for the Municipal
Securities Representative Qualification
(Series 52) program. On November 12,
2010, the Commission published a
notice of filing and immediate
effectiveness for the revisions to the
study outline and selection
specifications for the Series 52
program.6 The MSRB recently became
aware that the selection specifications
filed with the Commission on November
10, 2010, contained a technical error
and the MSRB is filing this proposed
rule change to correct that error. The
selection specifications indicate how
many questions are asked per
examination on every topic.
2. Statutory Basis
The MSRB believes that the proposed
revisions to the selection specifications
are consistent with the provisions of
Section 15B(b)(2)(A) of the Act, which
authorizes the MSRB to prescribe
standards of training, experience,
1 15
VerDate Mar<15>2010
17:25 Jan 11, 2011
U.S.C. 78o–4(b)(2)(A).
Release No. 34–63310 (November 12, 2010);
75 FR 70760 (November 18, 2010).
competence, and such other
qualifications as the Board finds
necessary or appropriate in the public
interest or for the protection of investors
and municipal entities or obligated
persons. Section 15B(b)(2)(A) of the Act
also provides that the Board may
appropriately classify municipal
securities brokers, municipal securities
dealers, and municipal advisors, and
persons associated with municipal
securities brokers, municipal securities
dealers, and municipal advisors and
require persons in any such class to pass
tests prescribed by the Board.
The MSRB believes that the proposed
revisions to the selection specifications
are consistent with the provisions of
Section 15B(b)(2)(A) of the Act in that
the revisions will ensure that certain
key concepts or rules are tested on each
administration of the examination in
order to test the competency of
individuals seeking to qualify as
municipal securities representatives
with respect to their knowledge about
MSRB rules and the municipal
securities market.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The MSRB 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, as amended.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
Written comments were neither
solicited nor received on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become
effective pursuant to Section
19(b)(3)(A)(i) of the Act 7 and Rule 19b–
–4(f)(1) 8 thereunder, in that the
proposed rule change constitutes a
stated policy, practice, or interpretation
with respect to the meaning,
administration, or enforcement of an
existing rule of the self-regulatory
organization. The MSRB proposes to
implement the revised Series 52
examination program on January 3,
2011. 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
5 15
6 See
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PO 00000
Frm 00082
Fmt 4703
Sfmt 4703
7 15
8 17
E:\FR\FM\12JAN1.SGM
U.S.C. 78s(b)(3)(A)(i).
CFR 240.19b–4(f)(1).
12JAN1
Federal Register / Vol. 76, No. 8 / Wednesday, January 12, 2011 / Notices
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act.9
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–MSRB–2010–18 on the
subject line.
mstockstill on DSKH9S0YB1PROD with NOTICES
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–MSRB–2010–18. This file
number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
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 such filing
also will be available for inspection and
copying at the principal office of the
MSRB. 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–MSRB–2010–18 and should
be submitted on or before February 2,
2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–433 Filed 1–11–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63643; File No. SR–
NYSEArca–2010–123]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NYSE
Arca, Inc. Establishing Fees for
Support and Maintenance of the
Trading Floor, and Fees To Defray the
Costs of Floor Broker Order Capture
Devices
January 5, 2011.
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 December
28, 2010, NYSE Arca, Inc. (‘‘NYSE Arca’’
or the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to establish
fees for support and maintenance of the
Trading Floor, and fees to defray the
costs of Floor Broker Order Capture
Devices. 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
Section 19(b)(3)(C) of the Act, 15 U.S.C.
78s(b)(3)(C).
VerDate Mar<15>2010
17:25 Jan 11, 2011
Jkt 223001
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
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 charging a
Market Maker Podium Fee of $90.00 per
podium per month for each Market
Maker on the Trading Floor using a
podium. A podium is a table top space
provided to a Market Maker on the floor.
The fee will be assessed to recover
ongoing costs associated with the
Trading Floor, such as repairs and
maintenance of the floor.
The Exchange proposes a Log-In Fee
of $150 per month per assigned log-in
ID to access the Exchange-sponsored
Floor Broker Order Capture System by
means of a Floor Broker Order Capture
Device. The Log-In Fee is designed to
cover the cost per log-in charged to the
Exchange by data vendors for access to
the Floor Broker Order Capture System.
The log-in permits OTP Holder access to
the system from any Floor Broker Order
Capture Device, whether located in a
Floor Broker’s booth or a general access
device located on the Trading Floor.
Floor Brokers are required to use the
Floor Broker Order Capture Devices to
electronically record the receipt of an
order and any events in the life of the
order, including execution or
cancellation. Market Makers may use
the Floor Broker Order Capture Devices
to execute and report open outcry trades
between Market Makers.
In addition, each log-in will trigger
market data costs to the Exchange which
will be charged to system users on a
pass-through basis.
The proposed changes will be
effective on January 1, 2011.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the
Securities Exchange Act of 1934 (the
‘‘Act’’),3 in general, and Section 6(b)(4)
of the Act,4 in particular, in that it is
designed to provide for the equitable
allocation of reasonable dues, fees, and
other charges among its members and
other persons using its facilities. The
proposed fees are structured to recover
ongoing costs to the Exchange for
support of the Trading Floor physical
10 17
9 See
1 15
PO 00000
Frm 00083
Fmt 4703
Sfmt 4703
2163
3 15
4 15
E:\FR\FM\12JAN1.SGM
U.S.C. 78f.
U.S.C. 78f(b)(4).
12JAN1
]]>Agencies
[Federal Register Volume 76, Number 8 (Wednesday, January 12, 2011)]
[Notices]
[Pages 2162-2163]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-433]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63645; File No. SR-MSRB-2010-18]
Self-Regulatory Organizations; Municipal Securities Rulemaking
Board; Notice of Filing and Immediate Effectiveness of Revisions to the
Selection Specifications for the Municipal Securities Representative
Qualification Examination (Series 52) Program
January 5, 2011.
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 December 23, 2010, the Municipal Securities Rulemaking Board
(``Board'' or ``MSRB'') filed with the Securities and Exchange
Commission (``SEC'' or ``Commission'') a proposed rule change as
described in Items I, II, and III below, which Items have been
substantially prepared by the MSRB. The MSRB has designated the
proposed rule change as constituting a stated policy, practice, or
interpretation with respect to the meaning, administration, or
enforcement of an existing rule of the self-regulatory organization
pursuant to Section 19(b)(3)(A)(i) \3\ of the Act and Rule 19b-4(f)(1)
thereunder,\4\ which renders the proposal effective upon filing with
the Commission. The MSRB proposes to implement the revised Series 52
examination program on January 3, 2011. 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)(i).
\4\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The MSRB is filing with the Commission revisions to the selection
specifications for the Municipal Securities Representative
Qualification Examination (Series 52) program.
The text of the proposed rule change is available on the MSRB's Web
site at https://www.msrb.org/Rules-and-Interpretations/SEC-Filings/2010-Filings.aspx, at the MSRB's principal office, and at the Commission's
Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the MSRB 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 MSRB has prepared summaries, set forth in Sections
A, B, and C below, of the most significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
Section 15B(b)(2)(A) of the Act \5\ authorizes the MSRB to
prescribe standards of training, experience, competence, and such other
qualifications as the Board finds necessary or appropriate in the
public interest or for the protection of investors and municipal
entities or obligated persons. On November 10, 2010, the MSRB filed
with the Commission a proposed rule change (File No. SR-MSRB-2010-12)
consisting of revisions to the study outline and selection
specifications for the Municipal Securities Representative
Qualification (Series 52) program. On November 12, 2010, the Commission
published a notice of filing and immediate effectiveness for the
revisions to the study outline and selection specifications for the
Series 52 program.\6\ The MSRB recently became aware that the selection
specifications filed with the Commission on November 10, 2010,
contained a technical error and the MSRB is filing this proposed rule
change to correct that error. The selection specifications indicate how
many questions are asked per examination on every topic.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78o-4(b)(2)(A).
\6\ See Release No. 34-63310 (November 12, 2010); 75 FR 70760
(November 18, 2010).
---------------------------------------------------------------------------
2. Statutory Basis
The MSRB believes that the proposed revisions to the selection
specifications are consistent with the provisions of Section
15B(b)(2)(A) of the Act, which authorizes the MSRB to prescribe
standards of training, experience, competence, and such other
qualifications as the Board finds necessary or appropriate in the
public interest or for the protection of investors and municipal
entities or obligated persons. Section 15B(b)(2)(A) of the Act also
provides that the Board may appropriately classify municipal securities
brokers, municipal securities dealers, and municipal advisors, and
persons associated with municipal securities brokers, municipal
securities dealers, and municipal advisors and require persons in any
such class to pass tests prescribed by the Board.
The MSRB believes that the proposed revisions to the selection
specifications are consistent with the provisions of Section
15B(b)(2)(A) of the Act in that the revisions will ensure that certain
key concepts or rules are tested on each administration of the
examination in order to test the competency of individuals seeking to
qualify as municipal securities representatives with respect to their
knowledge about MSRB rules and the municipal securities market.
B. Self-Regulatory Organization's Statement on Burden on Competition
The MSRB 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, as amended.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
Written comments were neither solicited nor received on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become effective pursuant to Section
19(b)(3)(A)(i) of the Act \7\ and Rule 19b--4(f)(1) \8\ thereunder, in
that the proposed rule change constitutes a stated policy, practice, or
interpretation with respect to the meaning, administration, or
enforcement of an existing rule of the self-regulatory organization.
The MSRB proposes to implement the revised Series 52 examination
program on January 3, 2011. 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
[[Page 2163]]
public interest, for the protection of investors, or otherwise in
furtherance of the purposes of the Act.\9\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A)(i).
\8\ 17 CFR 240.19b-4(f)(1).
\9\ See Section 19(b)(3)(C) of the Act, 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------
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-MSRB-2010-18 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-MSRB-2010-18. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than 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 such filing also will be available for
inspection and copying at the principal office of the MSRB. 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-MSRB-2010-18 and should be
submitted on or before February 2, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-433 Filed 1-11-11; 8:45 am]
BILLING CODE 8011-01-P
