Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule, 19041-19042 [2012-7525]
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mstockstill on DSK4VPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 61 / Thursday, March 29, 2012 / Notices
JESOP is a party (each a ‘‘Section 17
Transaction’’) will be effected only if the
Investment Manager determines that:
(a) The terms of the Section 17
Transaction, including the
consideration to be paid or received, are
fair and reasonable to the Members of
JESOP and do not involve overreaching
of JESOP or its Members on the part of
any person concerned;
(b) the Section 17 Transaction is
consistent with the interests of the
Members of JESOP, JESOP’s constitutive
documents, and JESOP’s reports to its
Members; and
(c) the Section 17 Transaction is
undertaken only in connection with the
Termination.
The Investment Manager will record
and preserve a description of all Section
17 Transactions, its findings, the
information or materials upon which its
findings are based, and the basis
therefor. All such records will be
maintained for the life of JESOP, and at
least six years thereafter, and will be
subject to examination by the
Commission and its staff. All such
records will be maintained in an easily
accessible place for at least the first two
years after such a transaction.
2. If JESOP makes purchases or sales
from or to an entity affiliated with
JESOP because an officer, director or
employee of the Jefferies Group either:
(a) Serves as an officer, director, general
partner or investment adviser of the
entity, or (b) has a 5% or more
investment in the entity, such
individual will not participate in
JESOP’s determination of whether or not
to effect the purchase or sale. Any such
purchase or sale will be made only in
connection with the Termination.
3. The Investment Manager will
adopt, and periodically review and
update, procedures designed to ensure
that reasonable inquiry is made, prior to
the consummation of any Section 17
Transaction, that (a) the Section 17
Transaction is only effected to facilitate
the Termination, and (b) the possible
involvement in the Section 17
Transaction of any affiliated person or
promoter of or principal underwriter for
JESOP or any affiliated person of such
person, promoter or principal
underwriter, is made in accordance with
these conditions.
4. The Investment Manager will not
invest the funds of JESOP in any
securities other than Series E Interests of
Holdings, shares of money market funds
registered under the Act, and ‘‘eligible
securities,’’ as that term is defined in
rule 2a–7 under the Act.
5. The Managing Member will send,
or cause to be sent, to each person who
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was a Member in JESOP at any time
during the fiscal year then ended,
JESOP’s financial statements audited by
independent accountants. At the end of
each fiscal year, as of that year end, the
Managing Member will make or have a
valuation made of all the assets of
JESOP. In addition, within 90 days after
the end of each fiscal year of JESOP, or
as soon as practicable thereafter, the
Managing Member of JESOP shall send,
or cause to be sent, a report to each
person who was a Member at any time
during the fiscal year then ended,
setting forth such tax information as
shall be necessary for the preparation by
the Member of his or her federal and
state income tax returns, and a report of
the investment activities of JESOP
during such fiscal year.
6. JESOP, the Managing Member and
the Investment Manager will maintain
and preserve, for the life of JESOP and
at least six years thereafter, such
accounts, books, and other documents
as constitute the record forming the
basis for the audited financial
statements and annual reports of JESOP
to be sent to the Members, and agree
that all such records will be subject to
examination by the Commission and its
staff. All such records will be
maintained in an easily accessible place
for at least the first two years.
7. The requested relief will terminate
on March 29, 2013 and after that date
JESOP will not rely on any Commission
rule under the Act that provides relief
permitting the operation of employees’
securities companies as such term is
defined in section 2(a)(13) of the Act.
For the Commission, by the Division of
Investment Management, pursuant to
delegated authority.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–7519 Filed 3–28–12; 8:45 am]
BILLING CODE 8011–01–P
2012, C2 Options Exchange,
Incorporated (the ‘‘Exchange’’ or ‘‘C2’’)
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 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 amend its
Fees Schedule. The text of the proposed
rule change is available on the
Exchange’s Web site (https://www.
c2exchange.com/Legal/), at the
Exchange’s Office of the Secretary, 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
Exchange 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
Exchange 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
The Exchange proposes to amend a
number of its application-related fees, as
listed below:
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–66651; File No. SR–C2–
2012–010]
Self-Regulatory Organizations; C2
Options Exchange, Incorporated;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Amend Its Fees Schedule
March 23, 2012.
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 March 19,
1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
PO 00000
Frm 00045
Fmt 4703
Sfmt 4703
Fee
Application Fee (Organizations) ...........
Application Fee
(Sole-Proprietors) ..
Engage in Customer
Business ................
Associated Person ....
Renewal (Organizations) .....................
Statutory Disqualification ........................
Fingerprint .................
Current
fee
amount
Proposed
new fee
amount
$4,000
$5,000
2,500
3,000
2,500
350
3,000
500
2,000
2,500
2,750
50
5,000
60
The costs of processing these
applications and activities have
increased, and the Exchange therefore
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19042
Federal Register / Vol. 77, No. 61 / Thursday, March 29, 2012 / Notices
mstockstill on DSK4VPTVN1PROD with NOTICES
proposes increasing the fees in order to
recoup such costs. Further, these
changes will make these fee amounts
equivalent to corresponding fees on the
Chicago Board Options Exchange,
Incorporated (‘‘CBOE’’).3
The Exchange also proposes waiving
Renewal fees for a six-month period
beginning on April 1, 2012. The
Renewal fee is assessed to organizations
and sole proprietorships that were once
C2 Trading Permit Holders but gave up
their trading permits, and now want to
return. The Exchange proposes waiving
the Renewal fee for a six-month period
beginning on April 1, 2012 in order to
provide an incentive to former C2
Trading Permit Holders to return to C2.
The proposed changes are to take
effect April 1, 2012.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the Act
and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.4 Specifically,
the Exchange believes the proposed rule
change is consistent with Section 6(b)(4)
of the Act,5 which provides that
Exchange rules may provide for the
equitable allocation of reasonable dues,
fees, and other charges among its
Trading Permit Holders and other
persons using its facilities. The
proposed increases in TPH Application
fees are reasonable because such
increases are necessary to cover the
increased costs of processing such
applications and activities. The
proposed increases in TPH Application
fees are equitable and not unfairly
discriminatory because they apply
equally to all qualifying market
participants. Further, these changes will
make these fee amounts equivalent to
corresponding fees on CBOE.6
The proposed waiver of the Renewal
fees for a six-month period beginning on
April 1, 2012 is reasonable because it
will permit former C2 Trading Permit
Holders to avoid having to pay a fee
they would otherwise have to pay to
return to C2. The proposed waiver of the
Renewal fees for a six-month period
beginning on April 1, 2012 is equitable
and not unfairly discriminatory because
it will apply equally to all former C2
Trading Permit Holders who wish to
return to C2. Moreover, this waiver will
encourage former C2 Trading Permit
Holders to return to C2, which will in
turn bring greater liquidity and more
3 See
CBOE Fees Schedule, Section 11.
U.S.C. 78f(b).
5 15 U.S.C. 78f(b)(4).
6 See Note 3.
trading opportunities for all market
participants.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
C2 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
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A) 7 of the Act and paragraph (f)
of Rule 19b–4 8 thereunder. 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 email to rulecomments@sec.gov. Please include File
Number SR–C2–2012–010 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–C2–2012–010. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
4 15
VerDate Mar<15>2010
17:14 Mar 28, 2012
Jkt 226001
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 Web site viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE.,
Washington, DC 20549, on official
business days between the hours of 10
a.m. and 3 p.m. Copies of such filing
will also be available for inspection and
copying at the principal office of the
Exchange. All comments received will
be posted without change; the
Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File No. SR–C2–2012–
010 and should be submitted on or
before April 19, 2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–7525 Filed 3–28–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–66645; File No. SR–PHLX–
2012–37]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NASDAQ
OMX PHLX LLC Relating to the
Proprietary Traders Qualification
Examination (‘‘Series 56’’)
March 22, 2012.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1, and Rule 19b–4 2 thereunder,
notice is hereby given that on March 21,
2012, NASDAQ OMX PHLX LLC
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II,
and III below, which Items have been
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
7 15
U.S.C. 78s(b)(3)(A).
8 17 CFR 240.19b–4(f).
PO 00000
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1 15
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]]>Agencies
[Federal Register Volume 77, Number 61 (Thursday, March 29, 2012)]
[Notices]
[Pages 19041-19042]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-7525]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-66651; File No. SR-C2-2012-010]
Self-Regulatory Organizations; C2 Options Exchange, Incorporated;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
To Amend Its Fees Schedule
March 23, 2012.
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 March 19, 2012, C2 Options Exchange, Incorporated (the
``Exchange'' or ``C2'') 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
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 amend its Fees Schedule. The text of the
proposed rule change is available on the Exchange's Web site (https://www.c2exchange.com/Legal/), at the Exchange's Office of the Secretary,
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 Exchange 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 Exchange 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
The Exchange proposes to amend a number of its application-related
fees, as listed below:
------------------------------------------------------------------------
Current Proposed
Fee fee new fee
amount amount
------------------------------------------------------------------------
Application Fee (Organizations)................... $4,000 $5,000
Application Fee (Sole-Proprietors)................ 2,500 3,000
Engage in Customer Business....................... 2,500 3,000
Associated Person................................. 350 500
Renewal (Organizations)........................... 2,000 2,500
Statutory Disqualification........................ 2,750 5,000
Fingerprint....................................... 50 60
------------------------------------------------------------------------
The costs of processing these applications and activities have
increased, and the Exchange therefore
[[Page 19042]]
proposes increasing the fees in order to recoup such costs. Further,
these changes will make these fee amounts equivalent to corresponding
fees on the Chicago Board Options Exchange, Incorporated (``CBOE'').\3\
---------------------------------------------------------------------------
\3\ See CBOE Fees Schedule, Section 11.
---------------------------------------------------------------------------
The Exchange also proposes waiving Renewal fees for a six-month
period beginning on April 1, 2012. The Renewal fee is assessed to
organizations and sole proprietorships that were once C2 Trading Permit
Holders but gave up their trading permits, and now want to return. The
Exchange proposes waiving the Renewal fee for a six-month period
beginning on April 1, 2012 in order to provide an incentive to former
C2 Trading Permit Holders to return to C2.
The proposed changes are to take effect April 1, 2012.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Act and the rules and regulations thereunder applicable to the
Exchange and, in particular, the requirements of Section 6(b) of the
Act.\4\ Specifically, the Exchange believes the proposed rule change is
consistent with Section 6(b)(4) of the Act,\5\ which provides that
Exchange rules may provide for the equitable allocation of reasonable
dues, fees, and other charges among its Trading Permit Holders and
other persons using its facilities. The proposed increases in TPH
Application fees are reasonable because such increases are necessary to
cover the increased costs of processing such applications and
activities. The proposed increases in TPH Application fees are
equitable and not unfairly discriminatory because they apply equally to
all qualifying market participants. Further, these changes will make
these fee amounts equivalent to corresponding fees on CBOE.\6\
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(4).
\6\ See Note 3.
---------------------------------------------------------------------------
The proposed waiver of the Renewal fees for a six-month period
beginning on April 1, 2012 is reasonable because it will permit former
C2 Trading Permit Holders to avoid having to pay a fee they would
otherwise have to pay to return to C2. The proposed waiver of the
Renewal fees for a six-month period beginning on April 1, 2012 is
equitable and not unfairly discriminatory because it will apply equally
to all former C2 Trading Permit Holders who wish to return to C2.
Moreover, this waiver will encourage former C2 Trading Permit Holders
to return to C2, which will in turn bring greater liquidity and more
trading opportunities for all market participants.
B. Self-Regulatory Organization's Statement on Burden on Competition
C2 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
The Exchange neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) \7\ of the Act and paragraph (f) of Rule 19b-4 \8\
thereunder. 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------
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 email to rule-comments@sec.gov. Please include
File Number SR-C2-2012-010 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-C2-2012-010. This file
number should be included on the subject line if email 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 Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of such filing will also be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File No. SR-C2-2012-010 and should be
submitted on or before April 19, 2012.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-7525 Filed 3-28-12; 8:45 am]
BILLING CODE 8011-01-P
