2162 Federal Register / Vol. 76, No. 8 / Wednesday, January 12, 2011 / Notices 

15 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A)(i). 

4 17 CFR 240.19b–4(f)(1). 

5 15 U.S.C. 78o–4(b)(2)(A). 

6See Release No. 34–63310 (November 12, 2010); 

75 FR 70760 (November 18, 2010). 

7 15 U.S.C. 78s(b)(3)(A)(i). 

8 17 CFR 240.19b–4(f)(1). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–443 Filed 1–11–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63645; File No. SR–MSRB– 

2010–18] 

Self-Regulatory Organizations; 

Municipal Securities Rulemaking 

Board; Notice of Filing and Immediate 

Effectiveness of Revisions to the 

Selection Specifications for the 

Municipal Securities Representative 

Qualification Examination (Series 52) 

Program 

January 5, 2011. 

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 

23, 2010, the Municipal Securities 

Rulemaking Board (‘‘Board’’ or ‘‘MSRB’’) 

filed with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) a 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been substantially prepared by the 

MSRB. The MSRB has designated the 

proposed rule change as constituting a 

stated policy, practice, or interpretation 

with respect to the meaning, 

administration, or enforcement of an 

existing rule of the self-regulatory 

organization pursuant to Section 

19(b)(3)(A)(i) 3 of the Act and Rule 19b– 

4(f)(1) thereunder,4 which renders the 

proposal effective upon filing with the 

Commission. The MSRB proposes to 

implement the revised Series 52 

examination program on January 3, 

2011. 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 MSRB is filing with the 

Commission revisions to the selection 

specifications for the Municipal 

Securities Representative Qualification 

Examination (Series 52) program. 

The text of the proposed rule change 

is available on the MSRB’s Web site at 

http://www.msrb.org/Rules-andInterpretations/SEC–Filings/2010– 

Filings.aspx, at the MSRB’s principal 

office, 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 

MSRB 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 MSRB 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 

Section 15B(b)(2)(A) of the Act 5

authorizes the MSRB to prescribe 

standards of training, experience, 

competence, and such other 

qualifications as the Board finds 

necessary or appropriate in the public 

interest or for the protection of investors 

and municipal entities or obligated 

persons. On November 10, 2010, the 

MSRB filed with the Commission a 

proposed rule change (File No. SR– 

MSRB–2010–12) consisting of revisions 

to the study outline and selection 

specifications for the Municipal 

Securities Representative Qualification 

(Series 52) program. On November 12, 

2010, the Commission published a 

notice of filing and immediate 

effectiveness for the revisions to the 

study outline and selection 

specifications for the Series 52 

program.6 The MSRB recently became 

aware that the selection specifications 

filed with the Commission on November 

10, 2010, contained a technical error 

and the MSRB is filing this proposed 

rule change to correct that error. The 

selection specifications indicate how 

many questions are asked per 

examination on every topic. 

2. Statutory Basis 

The MSRB believes that the proposed 

revisions to the selection specifications 

are consistent with the provisions of 

Section 15B(b)(2)(A) of the Act, which 

authorizes the MSRB to prescribe 

standards of training, experience, 

competence, and such other 

qualifications as the Board finds 

necessary or appropriate in the public 

interest or for the protection of investors 

and municipal entities or obligated 

persons. Section 15B(b)(2)(A) of the Act 

also provides that the Board may 

appropriately classify municipal 

securities brokers, municipal securities 

dealers, and municipal advisors, and 

persons associated with municipal 

securities brokers, municipal securities 

dealers, and municipal advisors and 

require persons in any such class to pass 

tests prescribed by the Board. 

The MSRB believes that the proposed 

revisions to the selection specifications 

are consistent with the provisions of 

Section 15B(b)(2)(A) of the Act in that 

the revisions will ensure that certain 

key concepts or rules are tested on each 

administration of the examination in 

order to test the competency of 

individuals seeking to qualify as 

municipal securities representatives 

with respect to their knowledge about 

MSRB rules and the municipal 

securities market. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The MSRB does not believe that the 

proposed rule change will impose any 

burden on competition not necessary or 

appropriate in furtherance of the 

purposes of the Act, as amended. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

Written comments were neither 

solicited nor received on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The proposed rule change has become 

effective pursuant to Section 

19(b)(3)(A)(i) of the Act 7 and Rule 19b– 

–4(f)(1) 8 thereunder, in that the 

proposed rule change constitutes a 

stated policy, practice, or interpretation 

with respect to the meaning, 

administration, or enforcement of an 

existing rule of the self-regulatory 

organization. The MSRB proposes to 

implement the revised Series 52 

examination program on January 3, 

2011. 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 

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Federal Register / Vol. 76, No. 8 / Wednesday, January 12, 2011 / Notices 2163 

9See Section 19(b)(3)(C) of the Act, 15 U.S.C. 

78s(b)(3)(C). 

10 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78f. 

4 15 U.S.C. 78f(b)(4). 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act.9

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 e-mail to rulecomments@sec.gov. Please include File 

Number SR–MSRB–2010–18 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–MSRB–2010–18. This file 

number should be included on the 

subject line if e-mail 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 (http://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 website 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 

also will be available for inspection and 

copying at the principal office of the 

MSRB. 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–MSRB–2010–18 and should 

be submitted on or before February 2, 

2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–433 Filed 1–11–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63643; File No. SR– 

NYSEArca–2010–123] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Arca, Inc. Establishing Fees for 

Support and Maintenance of the 

Trading Floor, and Fees To Defray the 

Costs of Floor Broker Order Capture 

Devices 

January 5, 2011. 

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 December 

28, 2010, NYSE Arca, Inc. (‘‘NYSE Arca’’ 

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 establish 

fees for support and maintenance of the 

Trading Floor, and fees to defray the 

costs of Floor Broker Order Capture 

Devices. The text of the proposed rule 

change is available at the Exchange’s 

principal office, on the Commission’s 

Web site at http://www.sec.gov, at the 

Commission’s Public Reference Room, 

and http://www.nyse.com. 

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 

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. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes charging a 

Market Maker Podium Fee of $90.00 per 

podium per month for each Market 

Maker on the Trading Floor using a 

podium. A podium is a table top space 

provided to a Market Maker on the floor. 

The fee will be assessed to recover 

ongoing costs associated with the 

Trading Floor, such as repairs and 

maintenance of the floor. 

The Exchange proposes a Log-In Fee 

of $150 per month per assigned log-in 

ID to access the Exchange-sponsored 

Floor Broker Order Capture System by 

means of a Floor Broker Order Capture 

Device. The Log-In Fee is designed to 

cover the cost per log-in charged to the 

Exchange by data vendors for access to 

the Floor Broker Order Capture System. 

The log-in permits OTP Holder access to 

the system from any Floor Broker Order 

Capture Device, whether located in a 

Floor Broker’s booth or a general access 

device located on the Trading Floor. 

Floor Brokers are required to use the 

Floor Broker Order Capture Devices to 

electronically record the receipt of an 

order and any events in the life of the 

order, including execution or 

cancellation. Market Makers may use 

the Floor Broker Order Capture Devices 

to execute and report open outcry trades 

between Market Makers. 

In addition, each log-in will trigger 

market data costs to the Exchange which 

will be charged to system users on a 

pass-through basis. 

The proposed changes will be 

effective on January 1, 2011. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),3 in general, and Section 6(b)(4) 

of the Act,4 in particular, in that it is 

designed to provide for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members and 

other persons using its facilities. The 

proposed fees are structured to recover 

ongoing costs to the Exchange for 

support of the Trading Floor physical 

mstockstill on DSKH9S0YB1PROD with NOTICES