Sunshine Act Meeting, 144-145 [2011-33776]

Download as PDF pmangrum on DSK3VPTVN1PROD with NOTICES 144 Federal Register / Vol. 77, No. 1 / Tuesday, January 3, 2012 / Notices Priority Mail Contract 36 is a competitive product ‘‘not of general applicability’’ within the meaning of 39 U.S.C. 3632(b)(3). Request at 1. The Request has been assigned Docket No. MC2012–2. The Postal Service contemporaneously filed a redacted contract related to the proposed new product under 39 U.S.C. 3632(b)(3) and 39 CFR 3015.5. Id. Attachment B. The instant contract has been assigned Docket No. CP2012–6. Request. To support its Request, the Postal Service filed six attachments as follows: • Attachment A—a redacted copy of Governors’ Decision No. 09–6, authorizing certain Priority Mail contracts, and a certification of the Governors’ vote; • Attachment B—a redacted copy of the contract; • Attachment C—proposed changes to the Mail Classification Schedule competitive product list that would add Priority Mail Contract 36 under Domestic Negotiated Service Agreements; • Attachment D—a Statement of Supporting Justification as required by 39 CFR 3020.32; • Attachment E—a certification of compliance with 39 U.S.C. 3633(a); and • Attachment F—an application for non-public treatment of materials to maintain redacted portions of the contract, customer-identifying information, and related financial information under seal. In the Statement of Supporting Justification, Dennis R. Nicoski, Manager, Field Sales Strategy and Contracts, asserts that the contract will cover its attributable costs, make a positive contribution to covering institutional costs, and increase contribution toward the requisite 5.5 percent of the Postal Service’s total institutional costs. Id. Attachment D at 1. Mr. Nicoski contends that there will be no issue of market dominant products subsidizing competitive products as a result of this contract. Id. Related contract. The Postal Service included a redacted version of the related contract with the Request. Id. Attachment B. The contract is scheduled to become effective on the day the Commission issues all necessary regulatory approval. Id. at 3. The contract will expire 3 years from the effective date unless, among other things, either party terminates the Classes Not of General Applicability for Priority Mail Contract Group, Docket No. MC2009–25, issued April 27, 2009, at 1 (Governors’ Decision No. 09–6). VerDate Mar<15>2010 15:13 Dec 30, 2011 Jkt 226001 agreement upon 30 days’ written notice to the other party. Id. at 4. The Postal Service represents that the contract is consistent with 39 U.S.C. 3633(a). Id. Attachment D. The Postal Service filed much of the supporting materials, including the related contract, under seal. Id. Attachment F. It maintains that the redacted portions of the contract, customer-identifying information, and related financial information, should remain confidential. Id. at 2–3. This information includes the price structure, underlying costs and assumptions, pricing formulas, information relevant to the customer’s mailing profile, and cost coverage projections. Id. The Postal Service asks the Commission to protect customer-identifying information from public disclosure indefinitely. Id. at 7. II. Notice of Filing The Commission establishes Docket Nos. MC2012–2 and CP2012–6 to consider the Request pertaining to the proposed Priority Mail Contract 36 product and the related contract, respectively. Interested persons may submit comments on whether the Postal Service’s filings in the captioned dockets are consistent with the policies of 39 U.S.C. 3632, 3633, or 3642, 39 CFR 3015.5, and 39 CFR part 3020, subpart B. Comments are due no later than January 6, 2012. The public portions of these filings can be accessed via the Commission’s Web site (https:// www.prc.gov). The Commission appoints Natalie Rea Ward to serve as Public Representative in these dockets. III. Ordering Paragraphs It is ordered: 1. The Commission establishes Docket Nos. MC2012–2 and CP2012–6 to consider the matters raised in each docket. 2. Pursuant to 39 U.S.C. 505, Natalie Rea Ward is appointed to serve as officer of the Commission (Public Representative) to represent the interests of the general public in these proceedings. 3. Comments by interested persons in these proceedings are due no later than January 6, 2012. 4. The Secretary shall arrange for publication of this order in the Federal Register. By the Commission. Shoshana M. Grove, Secretary. [FR Doc. 2011–33671 Filed 12–30–11; 8:45 am] BILLING CODE 7710–FW–P PO 00000 Frm 00072 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission Advisory Committee on Small and Emerging Companies will hold a public telephone meeting on Friday, January 6, 2012, beginning at 1 p.m. Eastern Standard Time. The meeting will be audio webcast on the Commission’s Web site at https:// www.sec.gov. On December 15, 2011, the Commission published notice of the Committee meeting (Release No. 33– 9285), indicating that the meeting is open to the public and inviting the public to submit written comments to the Committee. This Sunshine Act notice is being issued because a majority of the Commission may attend the meeting. The agenda for the meeting includes consideration of a recommendation to the Commission on relaxing current restrictions on general solicitation and advertising in exempt offerings of securities. For further information, please contact the Office of the Secretary at (202) 551–5400. Dated: December 29, 2011. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–33775 Filed 12–29–11; 4:15 pm] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold a Closed Meeting on Thursday, January 5, 2012 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matter also may be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. E:\FR\FM\03JAN1.SGM 03JAN1 Federal Register / Vol. 77, No. 1 / Tuesday, January 3, 2012 / Notices Commissioner Walter, as duty officer, voted to consider the items listed for the Closed Meeting in closed session. The subject matters of the Closed Meeting scheduled for Thursday, January 5, 2012 will be: Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings; Other matters relating to enforcement proceedings; and Adjudicatory matters. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: December 29, 2011. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2011–33776 Filed 12–29–11; 4:15 pm] SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending for an Additional 12 Months the Pilot Program That Provides an Exception to NYSE Rule 2B by Permitting the Exchange’s Equity Ownership Interest in BIDS Holdings L.P. December 27, 2011. pmangrum on DSK3VPTVN1PROD with NOTICES 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 16, 2011, the New York Stock Exchange LLC (‘‘NYSE’’ 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 extend for an additional 12 months the January 22, U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Mar<15>2010 15:13 Dec 30, 2011 Jkt 226001 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. 34–66059; File No. SR–NYSE– 2011–67] 2 17 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 the Statutory Basis for, the Proposed Rule Change BILLING CODE 8011–01–P 1 15 2012 expiration date of the pilot program that provides an exception to NYSE Rule 2B by permitting the Exchange’s equity ownership interest in BIDS Holdings L.P. (‘‘BIDS’’). The text of the proposed rule change is available at the Exchange, the Commission’s Public Reference Room, and https:// www.nyse.com. On January 22, 2009, the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) approved the governance structure proposed by the Exchange with respect to the New York Block Exchange (‘‘NYBX’’), an electronic trading facility of the Exchange for NYSE-listed securities that was established by means of a joint venture between the Exchange and BIDS.3 The governance structure that was approved is reflected in the Limited Liability Company Agreement of New York Block Exchange LLC (the ‘‘Company’’), the entity that owns and operates NYBX. Under the governance structure approved by the Commission, the Exchange and BIDS each own a 50% economic interest in the Company. In addition, the Exchange, through its wholly-owned subsidiary NYSE Market, Inc., owns less than 10% of the aggregate limited partnership interest in BIDS. BIDS is the parent company of BIDS Trading, L.P. (‘‘BIDS Trading’’), which became a member of the Exchange in connection with the establishment of NYBX. The foregoing ownership arrangements would violate NYSE Rule 2B without an exception from the 3 See Securities Exchange Act Release No. 59281 (January 22, 2009), 74 FR 5014 (January 28, 2009) (order approving SR–NYSE–2008–120) (‘‘Approval Order’’). PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 145 Commission.4 First, the Exchange’s indirect ownership interest in BIDS Trading violates the prohibition in Rule 2B against the Exchange maintaining an ownership interest in a member organization. Second, BIDS Trading is an affiliate of an affiliate of the Exchange,5 which violates the prohibition in Rule 2B against a member of the Exchange having such status. Consequently, in the Approval Order, the Commission permitted an exception to these two potential violations of NYSE Rule 2B, subject to a number of limitations and conditions. One of the conditions for Commission approval was that the proposed exception from NYSE Rule 2B to permit NYSE’s indirect ownership/interest in BIDS Trading and BIDS Trading’s affiliation with the Company (which is an affiliate of NYSE) would be for a pilot period of 12 months.6 In discussing the pilot basis of the exception to NYSE Rule 2B, the Approval Order noted that the pilot period ‘‘will provide NYSE and the Commission an opportunity to assess whether there might be any adverse consequences of the exception and whether a permanent exception is warranted.’’ 7 The original 12-month pilot period expired on January 22, 2010 and was extended for two additional 12 month periods to January 22, 2012.8 While the Exchange believes that the experience to date operating under the exception to Rule 2B fully justifies making the exception permanent, the Exchange now seeks to extend the ending date for the pilot program for another 12 months to January 22, 2013 4 NYSE Rule 2B provides, in relevant part, that: ‘‘[w]ithout prior SEC approval, the Exchange or any entity with which it is affiliated shall not, directly or indirectly, acquire or maintain an ownership interest in a member organization. In addition, a member organization shall not be or become an affiliate of the Exchange, or an affiliate of any affiliate of the Exchange. * * * The term affiliate shall have the meaning specified in Rule 12b–2 under the Act.’’ 5 Specifically, the Company is an affiliate of the Exchange, and BIDS Trading is an affiliate of the Company based on their common control by BIDS. The affiliation in each case is the result of the 50% ownership interest in the Company by each of the Exchange and BIDS. 6 See Approval Order, 74 FR at 5018. 7 Id. at 5019. 8 The original twelve month period was first extended by a rule filing made by the Exchange on January 11, 2010 and noticed in a release by the Commission dated January 22, 2010. See Securities Exchange Act Release No. 61409 (January 22, 2010), 75 FR 4889 (January 29, 2010) (File No. SR–NYSE– 2010–04). The Exchange filed the proposed rule change for the second extension with the Commission on December 9, 2010, which was noticed in a release by the Commission dated December 14, 2010. See Securities Exchange Act Release No. 34–63545 (December 14, 2010), 75 FR 80088 (December 21, 2010) (File No. SR–NYSE– 2010–82). E:\FR\FM\03JAN1.SGM 03JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 77, Number 1 (Tuesday, January 3, 2012)]
[Notices]
[Pages 144-145]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-33776]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold a Closed Meeting on Thursday, January 
5, 2012 at 2 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the Closed Meeting. 
Certain staff members who have an interest in the matter also may be 
present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the 
scheduled matters at the Closed Meeting.

[[Page 145]]

    Commissioner Walter, as duty officer, voted to consider the items 
listed for the Closed Meeting in closed session.
    The subject matters of the Closed Meeting scheduled for Thursday, 
January 5, 2012 will be:

    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings;
    Other matters relating to enforcement proceedings; and
    Adjudicatory matters.

    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact:
    The Office of the Secretary at (202) 551-5400.

    Dated: December 29, 2011.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2011-33776 Filed 12-29-11; 4:15 pm]
BILLING CODE 8011-01-P

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