Sunshine Act Meeting, 1654 [2016-00566]

Download as PDF 1654 Federal Register / Vol. 81, No. 8 / Wednesday, January 13, 2016 / Notices should, therefore, result in less burdensome and more efficient regulatory compliance and understanding of Exchange Rules for common members of the BGM Affiliated Exchanges and an enhanced ability of the BGM Affiliated Exchanges to fairly and efficiently regulate Market Makers. (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has neither solicited nor received written comments on the proposed rule change. asabaliauskas on DSK5VPTVN1PROD with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: A. Significantly affect the protection of investors or the public interest; B. impose any significant burden on competition; and C. become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 24 and Rule 19b–4(f)(6) 25 thereunder. The Exchange has given the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, 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. If the Commission takes such action, the Commission will institute proceedings to determine whether the proposed rule change should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposal 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 U.S.C. 78s(b)(3)(A). 25 17 CFR 240.19b–4(f)(6). • Send an email to rule-comments@ sec.gov. Please include File No. SR– EDGX–2015–68 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File No. SR–EDGX–2015–68. 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 10:00 a.m. and 3:00 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–EDGX– 2015–68 and should be submitted on or before February 3, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.26 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–00467 Filed 1–12–16; 8:45 am] 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 an Open Meeting 24 15 VerDate Sep<11>2014 16:59 Jan 12, 2016 on Friday, January 15, 2016, at 12:00 p.m., in the Auditorium (L–002) at the Commission’s headquarters building, to hear oral argument in an appeal from an initial decision of an administrative law judge by respondents optionsXpress, Inc. and Jonathan I. Feldman. On June 7, 2013, the law judge found that optionsXpress violated Rules 204 and 204T of Regulation SHO by relying on buy-writes—that is, purchases of equity securities paired with the simultaneous sale of deep-in-the-money call options representing the same number of shares—to satisfy its delivery and close-out obligations under Rules 204(a) and 204T(a). The initial decision also found that Feldman committed fraud in violation of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act, and Exchange Act Rules 10b–5 and 10b–21 by repeatedly placing buy-writes to intentionally avoid his own, distinct delivery obligations. In addition, the initial decision found that optionsXpress caused and aided and abetted Feldman’s antifraud violations. For these violations, the law judge ordered optionsXpress to cease and desist from violating Rule 204 of Reg. SHO and from causing or aiding and abetting violations of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act, and Exchange Act Rules 10b–5 and 10b–21 and ordered Feldman to cease and desist from violating Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act, and Exchange Act Rules 10b–5 and 10b–21. The law judge also ordered that optionsXpress disgorge $1,574,599 and that Feldman disgorge $2,656,377 and imposed civil money penalties of $2,000,000 on optionsXpress and $2,000,000 on Feldman. Respondents appealed the initial decision’s findings of violations and the sanctions imposed. The issues likely to be considered at oral argument include, among other things, whether optionsXpress violated Reg. SHO; whether Feldman violated the antifraud provisions; and, if so, what sanction, if any, is appropriate in the public interest. For further information, please contact the Office of the Secretary at (202) 551–5400. Dated: January 8, 2016. Brent J. Fields, Secretary. [FR Doc. 2016–00566 Filed 1–11–16; 11:15 am] BILLING CODE 8011–01–P 26 17 Jkt 238001 PO 00000 CFR 200.30–3(a)(12). Frm 00057 Fmt 4703 Sfmt 9990 E:\FR\FM\13JAN1.SGM 13JAN1

Agencies

[Federal Register Volume 81, Number 8 (Wednesday, January 13, 2016)]
[Notices]
[Page 1654]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-00566]


-----------------------------------------------------------------------

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 an Open Meeting on Friday, January 
15, 2016, at 12:00 p.m., in the Auditorium (L-002) at the Commission's 
headquarters building, to hear oral argument in an appeal from an 
initial decision of an administrative law judge by respondents 
optionsXpress, Inc. and Jonathan I. Feldman.
    On June 7, 2013, the law judge found that optionsXpress violated 
Rules 204 and 204T of Regulation SHO by relying on buy-writes--that is, 
purchases of equity securities paired with the simultaneous sale of 
deep-in-the-money call options representing the same number of shares--
to satisfy its delivery and close-out obligations under Rules 204(a) 
and 204T(a). The initial decision also found that Feldman committed 
fraud in violation of Section 17(a) of the Securities Act, Section 
10(b) of the Exchange Act, and Exchange Act Rules 10b-5 and 10b-21 by 
repeatedly placing buy-writes to intentionally avoid his own, distinct 
delivery obligations. In addition, the initial decision found that 
optionsXpress caused and aided and abetted Feldman's antifraud 
violations.
    For these violations, the law judge ordered optionsXpress to cease 
and desist from violating Rule 204 of Reg. SHO and from causing or 
aiding and abetting violations of Section 17(a) of the Securities Act, 
Section 10(b) of the Exchange Act, and Exchange Act Rules 10b-5 and 
10b-21 and ordered Feldman to cease and desist from violating Section 
17(a) of the Securities Act, Section 10(b) of the Exchange Act, and 
Exchange Act Rules 10b-5 and 10b-21. The law judge also ordered that 
optionsXpress disgorge $1,574,599 and that Feldman disgorge $2,656,377 
and imposed civil money penalties of $2,000,000 on optionsXpress and 
$2,000,000 on Feldman.
    Respondents appealed the initial decision's findings of violations 
and the sanctions imposed. The issues likely to be considered at oral 
argument include, among other things, whether optionsXpress violated 
Reg. SHO; whether Feldman violated the antifraud provisions; and, if 
so, what sanction, if any, is appropriate in the public interest.
    For further information, please contact the Office of the Secretary 
at (202) 551-5400.

     Dated: January 8, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-00566 Filed 1-11-16; 11:15 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.