Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend OCC's Schedule of Fees to Eliminate Fees for Certain Educational Brochures, 41836-41837 [2012-17207]

Download as PDF 41836 Federal Register / Vol. 77, No. 136 / Monday, July 16, 2012 / Notices C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were not and are not intended to be solicited with respect to the proposed rule change and none have been received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve or disapprove the proposed rule change or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. 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 (http//www.sec.gov/ rules/sro.shtml); or • Send an email to rulecomments@sec.gov. Please include File Number SR–OCC–2012–10 on the subject line. srobinson on DSK4SPTVN1PROD with NOTICES Paper Comments • Paper comments should be sent 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–OCC–2012–10. 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 VerDate Mar<15>2010 16:32 Jul 13, 2012 Jkt 226001 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 20549–1090, 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 OCC and on OCC’s Web site at https:// www.optionsclearing.com/components/ docs/legal/rules_and_bylaws/ sr_occ_12_10.pdf. 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–OCC– 2012–10 and should be submitted on or before August 6, 2012. For the Commission by the Division of Trading and Markets, pursuant to delegated authority.4 Kevin O’Neill, Deputy Secretary. [FR Doc. 2012–17208 Filed 7–13–12; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–67391; File No. SR–OCC– 2012–09] Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend OCC’s Schedule of Fees to Eliminate Fees for Certain Educational Brochures July 10, 2012. 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 June 28, 2012, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared primarily by OCC. OCC filed the proposed rule change pursuant to Section 19(b)(3)(A) 3 of the Act and Rule 19b–4(f)(2) 4 thereunder. PO 00000 4 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). 4 17 CFR 240.19b–4(f)(2). 1 15 Frm 00096 Fmt 4703 Sfmt 4703 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change would amend OCC’s Schedule of Fees to eliminate fees for three brochures to reflect that these brochures are now provided to clearing members free of charge. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, OCC 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. OCC has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements.5 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change The purpose of this proposed rule change is to amend OCC’s Schedule of Fees to eliminate fees for three brochures to reflect that these brochures are now provided to clearing members free of charge. In 2011, a decision was made to eliminate the nominal fee charged to clearing members for the following brochures: (i) Taxes & Investing: A Guide for the Individual Investor; (ii) LEAPS®; and (iii) Understanding Stock Options. Since that decision, clearing members have not been charged for ordering the brochures although the fees continued to be listed on OCC’s fee schedule. OCC proposes to amend its Schedule of Fees to reflect that these brochures are offered free of charge. OCC believes that the proposed rule change is consistent with Section 17A of the Act because it reflects the elimination of a nominal fee charged to clearing members for certain educational materials relating to listed options, thereby providing for the equitable allocation of reasonable dues, fees, and other charges among its participants. In addition, the proposed rule change aligns OCC’s Schedule of Fees with current billing practices. OCC believes the proposed rule change is not inconsistent with any rules of OCC, including any other rules proposed to be amended. 5 The Commission has modified the text of the summaries prepared by OCC. E:\FR\FM\16JYN1.SGM 16JYN1 Federal Register / Vol. 77, No. 136 / Monday, July 16, 2012 / Notices B. Self-Regulatory Organization’s Statement on Burden on Competition OCC does not believe that the proposed rule change would impose any burden on competition. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were not and are not intended to be solicited with respect to the proposed rule change and none have been received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective upon filing pursuant to Section 19(b)(3)(A)(ii) of the Act and Rule 19b4(f)(2) thereunder because it establishes or changes a due, fee, or other charge applicable only to a member. OCC will delay the implementation of the rule change until it is deemed certified under CFTC Regulation § 40.6. At any time within 60 days of the filing of such 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. 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 filings will also be available for inspection and copying at the principal office of OCC and on OCC’s Web site at https:// www.optionsclearing.com/components/ docs/legal/rules_and_bylaws/ sr_occ_12_09.pdf. 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–OCC– 2012–09 and should be submitted on or before August 6, 2012. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Kevin O’Neill, Deputy Secretary. srobinson on DSK4SPTVN1PROD with NOTICES IV. Solicitation of Comments [FR Doc. 2012–17207 Filed 7–13–12; 8:45 am] 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 may be submitted by using 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 No. SR–OCC–2012–09 on the subject line. • Paper comments should be sent 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–OCC–2012–09. 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 BILLING CODE 8011–01–P VerDate Mar<15>2010 16:32 Jul 13, 2012 Jkt 226001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–67390; File No. SR–NSCC– 2012–05] Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Revise Its Fee Schedule July 10, 2012. 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 June 28, 2012, National Securities Clearing Corporation (‘‘NSCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by NSCC. NSCC filed the proposal PO 00000 pursuant to Section 19(b)(3)(A)(ii) of the Act,3 and Rule 19b–4(f)(2) 4 thereunder so that the proposal was effective upon filing with the Commission. 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 proposed rule change aligns the fees associated with NSCC’s Mutual Fund Profile Service, Phases I and II, as set forth in NSCC’s fee schedule (Addendum A of NSCC’s Rules), with the cost of delivering this service. Details regarding the fee change are available in the revised Addendum A set forth in Exhibit 5 to NSCC’s rule filing, which can be found on NSCC’s Web site (https://www.dtcc.com/ downloads/legal/rule_filings/2012/nscc/ SR-NSCC-2012-05.pdf). II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of these statements.5 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change The purpose of the proposed rule change is to align the fees associated with NSCC’s Mutual Fund Profile Service, Phases I and II, as set forth in NSCC’s fee schedule (Addendum A of NSCC’s Rules), with the cost of delivering this service. The proposed rule change is consistent with the requirements of the Act, and the rules and regulations thereunder, because it updates the NSCC fee schedule and provides for the equitable allocation of fees among NSCC’s members. (B) Self-Regulatory Organization’s Statement on Burden on Competition NSCC does not believe that the proposed rule change will have any 3 15 6 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. Frm 00097 Fmt 4703 Sfmt 4703 41837 U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). 5 The Commission has modified the text of the summaries prepared by ICC. 4 17 E:\FR\FM\16JYN1.SGM 16JYN1

Agencies

[Federal Register Volume 77, Number 136 (Monday, July 16, 2012)]
[Notices]
[Pages 41836-41837]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-17207]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67391; File No. SR-OCC-2012-09]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Amend OCC's Schedule of Fees to Eliminate Fees for Certain Educational 
Brochures

July 10, 2012.
    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 June 28, 2012, The Options Clearing Corporation (``OCC'') filed 
with the Securities and Exchange Commission (``Commission'') the 
proposed rule change as described in Items I, II, and III below, which 
Items have been prepared primarily by OCC. OCC filed the proposed rule 
change pursuant to Section 19(b)(3)(A) \3\ of the Act and Rule 19b-
4(f)(2) \4\ thereunder.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The proposed rule change would amend OCC's Schedule of Fees to 
eliminate fees for three brochures to reflect that these brochures are 
now provided to clearing members free of charge.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, OCC 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. OCC has prepared summaries, set forth in sections A, B, 
and C below, of the most significant aspects of such statements.\5\
---------------------------------------------------------------------------

    \5\ The Commission has modified the text of the summaries 
prepared by OCC.
---------------------------------------------------------------------------

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    The purpose of this proposed rule change is to amend OCC's Schedule 
of Fees to eliminate fees for three brochures to reflect that these 
brochures are now provided to clearing members free of charge. In 2011, 
a decision was made to eliminate the nominal fee charged to clearing 
members for the following brochures: (i) Taxes & Investing: A Guide for 
the Individual Investor; (ii) LEAPS[supreg]; and (iii) Understanding 
Stock Options. Since that decision, clearing members have not been 
charged for ordering the brochures although the fees continued to be 
listed on OCC's fee schedule. OCC proposes to amend its Schedule of 
Fees to reflect that these brochures are offered free of charge.
    OCC believes that the proposed rule change is consistent with 
Section 17A of the Act because it reflects the elimination of a nominal 
fee charged to clearing members for certain educational materials 
relating to listed options, thereby providing for the equitable 
allocation of reasonable dues, fees, and other charges among its 
participants. In addition, the proposed rule change aligns OCC's 
Schedule of Fees with current billing practices. OCC believes the 
proposed rule change is not inconsistent with any rules of OCC, 
including any other rules proposed to be amended.

[[Page 41837]]

B. Self-Regulatory Organization's Statement on Burden on Competition

    OCC does not believe that the proposed rule change would impose any 
burden on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    Written comments were not and are not intended to be solicited with 
respect to the proposed rule change and none have been received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective upon filing pursuant 
to Section 19(b)(3)(A)(ii) of the Act and Rule 19b-4(f)(2) thereunder 
because it establishes or changes a due, fee, or other charge 
applicable only to a member. OCC will delay the implementation of the 
rule change until it is deemed certified under CFTC Regulation Sec.  
40.6. At any time within 60 days of the filing of such 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 may be submitted by using 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 No. SR-
OCC-2012-09 on the subject line.
     Paper comments should be sent 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-OCC-2012-09. 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 filings will also be available for 
inspection and copying at the principal office of OCC and on OCC's Web 
site at https://www.optionsclearing.com/components/docs/legal/rules_and_bylaws/sr_occ_12_09.pdf. 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-OCC-2012-09 and should be submitted on or before August 
6, 2012.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------


Kevin O'Neill,
Deputy Secretary.
[FR Doc. 2012-17207 Filed 7-13-12; 8:45 am]
BILLING CODE 8011-01-P
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