Federal Register / Vol. 76, No. 36 / Wednesday, February 23, 2011 / Notices 10081 

19As the Commission stated in approving NYSE 

rules prohibiting broker voting in the election of 

directors, having those with an economic interest in 

the company vote the shares, rather than the broker 

who has no such economic interest, furthers the 

goal of enfranchising shareholders. See Securities 

Exchange Act Release No. 60215 (July 1, 2009), 74 

FR 33293 (July 10, 2009) (SR–NYSE–2006–92). 

20 15 U.S.C. 78s(b)(2). 

21See note 13, supra. 

22 15 U.S.C. 78s(b)(2). 

23 17 CFR 200.30–3(a)(12). 

6(b)(5) of the Act because the proposal 

will further investor protection and the 

public interest by assuring that 

shareholder votes on executive 

compensation matters are made by those 

with an economic interest in the 

company, rather than by a broker that 

has no such economic interest, which 

should enhance corporate governance 

and accountability to shareholders.19

The Commission notes that the 

CBOE’s new rule prohibiting 

uninstructed broker votes on executive 

compensation covers the specific items 

identified in Section 951 of the DoddFrank Act, as well as any other matter 

concerning executive compensation, 

and has been drafted broadly to reflect 

the requirements of Section 6(b)(10) of 

the Act. The proposed rule language 

also specifically states that a broker vote 

on any executive compensation matter 

would not be permitted even if it would 

otherwise qualify for an exception from 

any item under Rule 31.85. The 

Commission believes this provision will 

make clear that any past practice or 

interpretation that may have permitted 

a broker vote on an executive 

compensation matter, under existing 

rules, will no longer be applicable and 

is superseded by the newly adopted 

provisions. 

Finally, the Commission notes that 

the changes to reflect (i) that the CBOE 

rules prohibit not only the giving of a 

proxy, but also the authorization of the 

proxy and (ii) that CBOE Rule 31.85 

regarding the giving of proxies by TPH 

Organizations applies to CBSX TPH 

Organizations as well as CBOE TPH 

Organization, should help to clarify the 

intent of the CBOE proxy rules and is 

consistent with the requirements of 

Section 6 of the Act. 

Based on the above, the Commission 

believes that the Exchange’s proposal 

will further the purposes of Sections 

6(b)(5) and 6(b)(10) of the Act because 

it should enhance corporate 

accountability to shareholders. The rule 

filing should also serve to fulfill the 

Congressional intent in adopting 

Section 6(b)(10) of the Act. 

The Commission also finds good 

cause, pursuant to Section 19(b)(2) of 

the Act,20 for approving the proposed 

rule change prior to the 30th day after 

the date of publication of notice in the 

Federal Register. As noted above, 

Section 6(b)(10) of the Act, enacted 

under Section 957 of the Dodd-Frank 

Act, does not provide for a transition 

phase, and requires rules of national 

securities exchanges to prohibit, among 

other things, broker voting on executive 

compensation. The Commission 

believes that good cause exists to grant 

accelerated approval to the Exchange’s 

proposal, because it will conform CBOE 

Rule 31.85 to the requirements of 

Section 6(b)(10) of the Act. Moreover, 

the Commission notes that the proposed 

changes are based on NYSE Rule 452.21

V. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,22 that the 

proposed rule change (SR–CBOE–2011– 

017) be, and it hereby is, approved on 

an accelerated basis. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.23

Cathy H. Ahn, 

Deputy Secretary. 

[FR Doc. 2011–3982 Filed 2–22–11; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #12468 and #12469] 

Utah Disaster #UT–00009 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of Utah (FEMA–1955–DR), 

dated 02/11/2011. 

Incident: Severe Winter Storms and 

Flooding. 

Incident Period: 12/20/2010 through 

12/24/2010. 

Effective Date: 02/11/2011. 

Physical Loan Application Deadline 

Date: 04/12/2011. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 11/14/2011. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street, SW., Suite 6050, 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

02/11/2011, Private Non-Profit 

organizations that provide essential 

services of governmental nature may file 

disaster loan applications at the address 

listed above or other locally announced 

locations. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties: Kane, Washington. 

The Interest Rates are: 

Percent 

For Physical Damage: 

Non-Profit Organizations With 

Credit Available Elsewhere .. 3.250 

Non-Profit Organizations Without Credit Available Elsewhere ................................... 3.000 

For Economic Injury: 

Non-Profit Organizations Without Credit Available Elsewhere ................................... 3.000 

The number assigned to this disaster 

for physical damage is 12468B and for 

economic injury is 12469B. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

Roger B. Garland, 

Acting Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2011–3947 Filed 2–22–11; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #12465 and #12466] 

New Jersey Disaster Number NJ–00019 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Amendment 1. 

SUMMARY: This is an amendment of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of NEW JERSEY (FEMA— 

1954—DR), dated 02/04/2011. 

Incident: Severe Winter Storm and 

Snowstorm. 

Incident Period: 12/26/2010 through 

12/27/2010. 

Effective Date: 02/11/2011. 

Physical Loan Application Deadline 

Date: 04/05/2011. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 11/04/2011. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

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