Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Adding New Commentary .02 to NYSE Amex Options Rule 965NY To Provide for the Nullification of Reported Trades by Mutual Agreement of the Parties Thereto, 54272-54274 [2011-22306]
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54272
Federal Register / Vol. 76, No. 169 / Wednesday, August 31, 2011 / Notices
jlentini on DSK4TPTVN1PROD with NOTICES
Representative Directors 6 to be elected
under the terms of the LLC
Agreement.’’ 7 The Exchange recently
adopted this provision when it
conformed its By-Laws to those of
NASDAQ.8 According to the Exchange,
however, it does not have a significant
number of original listings as does
NASDAQ,9 and therefore has less
available issuer representatives to serve
on the Board. Consequently, the
Exchange now proposes to change the
requirement by broadening it to require
a director representative of issuers and
investors instead of a director that is
representative only of issuers. The
Exchange believes that the expansion of
the director position from one that is
representative of issuers to one that is
representative of issuers and investors is
more appropriate for Phlx.10 The
nomination and election process for
such directors would remain the same.
The director representative of issuers
and investors would be nominated by
the Nominating Committee and elected
a director not engaged in the day-to-day
management of a broker or dealer; (ii) is an officer,
director (excluding an outside director), or
employee of an entity that owns more than ten
percent of the equity of a broker or dealer, and the
broker or dealer accounts for more than five percent
of the gross revenues received by the consolidated
entity; (iii) owns more than five percent of the
equity securities of any broker or dealer, whose
investments in brokers or dealers exceed ten
percent of his or her net worth, or whose ownership
interest otherwise permits him or her to be engaged
in the day-to-day management of a broker or dealer;
(iv) provides professional services to brokers or
dealers, and such services constitute 20 percent or
more of the professional revenues received by the
Director or 20 percent or more of the gross revenues
received by the Director’s firm or partnership; (v)
provides professional services to a director, officer,
or employee of a broker, dealer, or corporation that
owns 50 percent or more of the voting stock of a
broker or dealer, and such services relate to the
director’s, officer’s, or employee’s professional
capacity and constitute 20 percent or more of the
professional revenues received by the Director or
member or 20 percent or more of the gross revenues
received by the Director’s or member’s firm or
partnership; or (vi) has a consulting or employment
relationship with or provides professional services
to the Exchange or any affiliate thereof or to FINRA
(or any predecessor) or has had any such
relationship or provided any such services at any
time within the prior three years.’’ See Exchange
By-Law Article I(p).
6 A Member Representative Director is ‘‘a Director
who has been elected or appointed after having
been nominated by the Member Nominating
Committee or by a Member pursuant to [the] ByLaws. A Member Representative Director may, but
is not required to be, an officer, director, employee,
or agent of a Member. See Exchange By-Law Article
I(w).
7 The Exchange recently adopted this provision to
its By-Laws. See Securities Exchange Act Release
No. 64338 (April 25, 2011), 76 FR 24069 (April 29,
2011) (SR–Phlx–2011–13) (conforming some of the
Exchange By-Laws to the By-Laws of The NASDAQ
Stock Market LLC (‘‘NASDAQ’’)).
8 See id.
9 See Notice, supra note 3, 76 FR at 41550 n.9.
10 Id.
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16:51 Aug 30, 2011
Jkt 223001
by the sole shareholder, The NASDAQ
OMX Group, Inc.11
The Exchange also proposes to
eliminate the requirement that there be
at least two of these director positions
representative of issuers if the Board
consists of ten or more directors. In its
proposal, the Exchange notes that
Section 6(b)(3) of the Act 12 only
requires that one Director representative
represents issuers and investors.13
III. Discussion
After careful review of the proposal,
the Commission finds that the proposed
rule change is consistent with the
requirements of the Act and the rules
and regulations thereunder applicable to
a national securities exchange.14 In
particular, the Commission finds that
the proposal is consistent with Section
6(b)(5) of the Act,15 which requires,
among other things, that the rules of an
exchange be designed to promote just
and equitable principles of trade, to
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. The Commission further
finds that the proposal is consistent
with Section 6(b)(3) of the Act,16 which
requires that one or more directors be
representative of issuers and investors
and not be associated with a member of
the exchange, broker, or dealer.
The Commission believes that the
proposed expansion from an issuer
representative to a representative of
issuers and investors, and elimination of
the requirement that the Board have two
such representatives if the Board
consists of ten or more directors are
consistent with the Act. The fair
representation requirement in Section
6(b)(3) of the Act 17 is intended to give
members a voice in the selection of an
exchange’s directors and the
administration of its affairs. The
Commission notes that this change
tracks the statutory language included
in Section 6(b)(3) of the Act,18 which
requires one or more directors to be
‘‘representative of issuers and
investors.’’ The Commission also notes
that the elimination of the requirement
to have at least two director positions
11 See Exchange By-Law Article V, Section 5–3
and Article II, Section 2–1.
12 15 U.S.C. 78f(b)(3).
13 See Notice, supra note 3, 76 FR at 41550.
14 In approving this proposed rule change, the
Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
15 15 U.S.C. 78f(b)(5).
16 15 U.S.C. 78f(b)(3).
17 Id.
18 Id.
PO 00000
Frm 00083
Fmt 4703
Sfmt 4703
representative of issuers if the Board
consists of ten or more directors is
consistent with Section 6(b)(3) of the
Act,19 which only requires the Board to
have one such representative. Further,
the proposed rule change is consistent
with the Act in that it is designed to
ensure that the Board continues to
satisfy compositional requirements,
particularly those concerning fair
representation. The Exchange will
continue to require the Board
composition to include the requisite
Public Directors, Industry Directors, and
Member Representative Directors (the
latter will continue to constitute twenty
percent of the Board). In addition, the
proposed change will not impact the
procedures to nominate and elect any
director to the Board that are currently
in place. Accordingly, the Commission
finds that Phlx’s revised By-Laws, as
proposed, will continue to provide
board qualification requirements that
are consistent with the Act.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,20 that the
proposed rule change (SR–Phlx–2011–
90) be, and hereby is, approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.21
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–22307 Filed 8–30–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–65192; File No. SR–
NYSEAmex–2011–62]
Self-Regulatory Organizations; NYSE
Amex LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Adding New Commentary
.02 to NYSE Amex Options Rule 965NY
To Provide for the Nullification of
Reported Trades by Mutual Agreement
of the Parties Thereto
August 24, 2011.
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 August
16, 2011, NYSE Amex LLC (the
‘‘Exchange’’ or ‘‘NYSE Amex’’) filed
with the Securities and Exchange
19 Id.
20 15
U.S.C. 78s(b)(2).
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.
21 17
E:\FR\FM\31AUN1.SGM
31AUN1
Federal Register / Vol. 76, No. 169 / Wednesday, August 31, 2011 / Notices
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the selfregulatory organization. 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 add new
Commentary .02 to NYSE Amex Options
Rule 965NY to provide for the
nullification of reported trades by
mutual agreement of the parties thereto.
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
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
2. Statutory Basis
The Exchange believes that the
proposed rule change, which would
permit a trade to be nullified upon the
mutual agreement of all parties to the
trade, is consistent with Section 6(b) of
the Act,5 in general, and furthers the
objectives of Section 6(b)(5) of the Act,6
in particular, because it is designed to
promote just and equitable principles of
trade, remove impediments to and
perfect the mechanisms of a free and
open market and a national market
system and, in general, to protect
investors and the public interest. The
proposed rule change makes clear the
contractual rights of the parties to a
trade to nullify the trade upon mutual
agreement. The Exchange believes that
the proposed rule change is consistent
with a free and open market and the
public interest because it gives effect to
the contractual rights of the parties to a
trade.
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.
1. Purpose
jlentini on DSK4TPTVN1PROD with NOTICES
but the parties to the trade nonetheless
desire that the trade be nullified.
The Exchange is proposing new
Commentary .02 to NYSE Amex Options
Rule 965NY to provide for the
nullification of reported trades by
mutual agreement of the parties thereto.
As provided under proposed
Commentary .02 to Rule 965NY, a trade
would be nullified if all parties to the
trade agree to the nullification. After
agreeing to a trade nullification, one
party would be required to promptly
notify the Exchange for dissemination of
cancellation information to the Options
Price Reporting Authority (‘‘OPRA’’).4
Proposed Commentary .02 to Rule
965NY would provide the parties to a
trade with the ability to nullify a trade
under circumstances where, for
example, an obvious or catastrophic
error is not deemed to have occurred,
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 7 and Rule
19b–4(f)(6) thereunder.8 Because the
proposed rule change does not: (i)
Significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
prior to 30 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, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
5 15
4 The
obligation to notify the Exchange would
also be reflected within proposed new paragraph (f)
to NYSE Amex Options Rule 957NY.
VerDate Mar<15>2010
16:51 Aug 30, 2011
Jkt 223001
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
7 15 U.S.C. 78s(b)(3)(A)(iii).
8 17 CFR 240.19b–4(f)(6).
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.
A proposed rule change filed under
Rule 19b–4(f)(6) 9 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),10 the
Commission may designate a shorter
time if such action is consistent with the
protection of investors and the public
interest.
At any time within 60 days of the
filing of such 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–NYSEAmex–2011–62 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–2011–62. 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
6 15
PO 00000
Frm 00084
Fmt 4703
Sfmt 4703
54273
9 17
CFR 240.19b–4(f)(6).
CFR 240.19b–4(f)(6)(iii).
10 17
E:\FR\FM\31AUN1.SGM
31AUN1
54274
Federal Register / Vol. 76, No. 169 / Wednesday, August 31, 2011 / Notices
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 NYSE’s principal office,
and on its Web site at https://
www.nyse.com. The text of the proposed
rule change is available on the
Commission’s Web site at https://
www.sec.gov. 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–2011–62 and
should be submitted on or before
September 21, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–22306 Filed 8–30–11; 8:45 am]
SECURITIES AND EXCHANGE
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
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.
1. Purpose
[Release No. 34–65191; File No. SR–
NYSEArca–2011–60]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Adding New Commentary
.02 to NYSE Arca Options Rule 6.77 To
Provide for the Nullification of
Reported Trades by Mutual Agreement
of the Parties Thereto
August 24, 2011.
jlentini on DSK4TPTVN1PROD with NOTICES
The Exchange proposes to add new
Commentary .02 to NYSE Arca Options
Rule 6.77 to provide for the nullification
of reported trades by mutual agreement
of the parties thereto. The text of the
proposed rule change is available at the
Exchange, the Commission’s Public
Reference Room, and https://
www.nyse.com.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8011–01–P
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 August
16, 2011, NYSE Arca, Inc. (the
‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 selfregulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is proposing new
Commentary .02 to NYSE Arca Options
Rule 6.77 to provide for the nullification
of reported trades by mutual agreement
of the parties thereto.
As provided under proposed
Commentary .02 to Rule 6.77, a trade
would be nullified if all parties to the
trade agree to the nullification. After
agreeing to a trade nullification, one
party would be required to promptly
notify the Exchange for dissemination of
cancellation information to the Options
Price Reporting Authority (‘‘OPRA’’).4
Proposed Commentary .02 to Rule
6.77 would provide the parties to a trade
with the ability to nullify a trade under
circumstances where, for example, an
obvious or catastrophic error is not
deemed to have occurred, but the
parties to the trade nonetheless desire
that the trade be nullified.
2. Statutory Basis
The Exchange believes that the
proposed rule change, which would
permit a trade to be nullified upon the
mutual agreement of all parties to the
trade, is consistent with Section 6(b) of
11 17
1 15
VerDate Mar<15>2010
16:51 Aug 30, 2011
4 The obligation to notify the Exchange would
also be reflected within proposed new paragraph (f)
to NYSE Arca Options Rule 6.69.
Jkt 223001
PO 00000
Frm 00085
Fmt 4703
Sfmt 4703
the Act,5 in general, and furthers the
objectives of Section 6(b)(5) of the Act,6
in particular, because it is designed to
promote just and equitable principles of
trade, remove impediments to and
perfect the mechanisms of a free and
open market and a national market
system and, in general, to protect
investors and the public interest. The
proposed rule change makes clear the
contractual rights of the parties to a
trade to nullify the trade upon mutual
agreement. The Exchange believes that
the proposed rule change is consistent
with a free and open market and the
public interest because it gives effect to
the contractual rights of the parties to a
trade.
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 Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 7 and Rule
19b–4(f)(6) thereunder.8 Because the
proposed rule change does not: (i)
Significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
prior to 30 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, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.
A proposed rule change filed under
Rule 19b–4(f)(6) 9 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),10 the
Commission may designate a shorter
time if such action is consistent with the
5 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
7 15 U.S.C. 78s(b)(3)(A)(iii).
8 17 CFR 240.19b–4(f)(6).
9 17 CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6)(iii).
6 15
E:\FR\FM\31AUN1.SGM
31AUN1
]]>Agencies
[Federal Register Volume 76, Number 169 (Wednesday, August 31, 2011)]
[Notices]
[Pages 54272-54274]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-22306]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-65192; File No. SR-NYSEAmex-2011-62]
Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Adding New
Commentary .02 to NYSE Amex Options Rule 965NY To Provide for the
Nullification of Reported Trades by Mutual Agreement of the Parties
Thereto
August 24, 2011.
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 August 16, 2011, NYSE Amex LLC (the ``Exchange'' or
``NYSE Amex'') filed with the Securities and Exchange
[[Page 54273]]
Commission (the ``Commission'') the proposed rule change as described
in Items I, II, and III below, which Items have been prepared by the
self-regulatory organization. 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\ 15 U.S.C. 78a.
\3\ 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 add new Commentary .02 to NYSE Amex
Options Rule 965NY to provide for the nullification of reported trades
by mutual agreement of the parties thereto. 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 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 is proposing new Commentary .02 to NYSE Amex Options
Rule 965NY to provide for the nullification of reported trades by
mutual agreement of the parties thereto.
As provided under proposed Commentary .02 to Rule 965NY, a trade
would be nullified if all parties to the trade agree to the
nullification. After agreeing to a trade nullification, one party would
be required to promptly notify the Exchange for dissemination of
cancellation information to the Options Price Reporting Authority
(``OPRA'').\4\
---------------------------------------------------------------------------
\4\ The obligation to notify the Exchange would also be
reflected within proposed new paragraph (f) to NYSE Amex Options
Rule 957NY.
---------------------------------------------------------------------------
Proposed Commentary .02 to Rule 965NY would provide the parties to
a trade with the ability to nullify a trade under circumstances where,
for example, an obvious or catastrophic error is not deemed to have
occurred, but the parties to the trade nonetheless desire that the
trade be nullified.
2. Statutory Basis
The Exchange believes that the proposed rule change, which would
permit a trade to be nullified upon the mutual agreement of all parties
to the trade, is consistent with Section 6(b) of the Act,\5\ in
general, and furthers the objectives of Section 6(b)(5) of the Act,\6\
in particular, because it is designed to promote just and equitable
principles of trade, remove impediments to and perfect the mechanisms
of a free and open market and a national market system and, in general,
to protect investors and the public interest. The proposed rule change
makes clear the contractual rights of the parties to a trade to nullify
the trade upon mutual agreement. The Exchange believes that the
proposed rule change is consistent with a free and open market and the
public interest because it gives effect to the contractual rights of
the parties to a trade.
---------------------------------------------------------------------------
\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 Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \7\ and Rule 19b-4(f)(6) thereunder.\8\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 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, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A)(iii).
\8\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \9\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\10\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest.
---------------------------------------------------------------------------
\9\ 17 CFR 240.19b-4(f)(6).
\10\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
At any time within 60 days of the filing of such 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-2011-62 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-2011-62. 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
[[Page 54274]]
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 NYSE's
principal office, and on its Web site at https://www.nyse.com. The text
of the proposed rule change is available on the Commission's Web site
at https://www.sec.gov. 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-2011-62 and
should be submitted on or before September 21, 2011.
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\11\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-22306 Filed 8-30-11; 8:45 am]
BILLING CODE 8011-01-P
