Federal Register / Vol. 77, No. 82 / Friday, April 27, 2012 / Notices 25215 

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)(1). 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66847; File No. SR–CME– 

2012–12] 

Self-Regulatory Organizations; 

Chicago Mercantile Exchange Inc.; 

Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change To Amend Rules Regarding 

Clearing Member Anti-Money 

Laundering Programs 

April 23, 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 April 9, 

2012, Chicago Mercantile Exchange Inc. 

(‘‘CME’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

the proposed rule change described in 

Items I, II and III below, which items 

have been prepared primarily by CME. 

CME filed the proposed rule change 

pursuant to Section 19(b)(3)(A) 3 of the 

Act and Rule 19b–4(f)(1) 4 thereunder so 

that the proposed rule change was 

effective upon filing with the 

Commission. 

I. Self-Regulatory Organization’s 

Statement of Terms of Substance of the 

Proposed Rule Change 

The text of the proposed rule change 

is below. Italicized text indicates 

additions; bracketed text indicates 

deletions. 

* * * * * 

CHICAGO MERCANTILE EXCHANGE 

INC. RULEBOOK 

Rule 100–980—No Change. 

* * * * * 

Chapter 9. Clearing Members 

Rule 981. ANTI-MONEY LAUNDERING 

AND ECONOMIC SANCTIONS 

COMPLIANCE 

Each clearing member shall develop 

and implement a written [anti-money 

laundering] compliance program 

approved in writing by senior 

management reasonably designed to 

achieve and monitor the clearing 

member’s compliance with [the] all 

applicable requirements of the Bank 

Secrecy Act (31 U.S.C. § 5311 et[.] seq.), 

the International Emergency Economic 

Powers Act (50 U.S.C. § 1701 et seq.) 

(‘‘IEEPA’’), the Trading with the Enemy 

Act (50 U.S.C. App. § 1 et seq.) 

(‘‘TWEA’’), and the Executive Orders 

and [the implementing] regulations 

issued pursuant thereto, including the 

regulations issued [promulgated 

thereunder] by the U.S. Department of 

the Treasury and, as applicable, the 

Commodity Futures Trading 

Commission. That [anti-money 

laundering] compliance program shall, 

at a minimum, 

1. Establish and implement policies, 

procedures and internal controls 

reasonably designed to assure 

compliance with [the] all applicable 

provisions of the Bank Secrecy Act, 

IEEPA, TWEA, and all applicable 

Executive Orders and regulations issued 

pursuant thereto [the implementing 

regulations thereunder]; 

2. Provide for independent testing for 

compliance to be conducted by clearing 

member personnel or by a qualified 

outside party; 

3. Designate an individual or 

individuals responsible for 

implementing and monitoring the dayto-day operations and internal controls 

of the program; and 

4. Provide ongoing training for 

appropriate personnel. 

Clearing members must also supervise 

and ensure that their guaranteed 

introducing brokers are in compliance 

with the [anti-money laundering] 

provisions contained in this Rule. 

* * * * * 

Rule 981–End—No change 

* * * * * 

II. Self-Regulatory Organization’s 

Statement of Purpose of, and Statutory 

Basis for, the Proposed Rule Change 

In its filing with the Commission, 

CME included statements concerning 

the purpose 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. CME 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 Purpose of, and Statutory 

Basis for, the Proposed Rule Change 

CME proposes to adopt certain rule 

changes to CME Rule 981, which deals 

with CME clearing member anti-money 

laundering (‘‘AML’’) compliance 

programs. At present, CME Rule 981 

requires clearing members to develop 

and implement a written AML program 

reasonably designed to achieve 

compliance with applicable 

requirements of the Bank Secrecy Act 

(31 U.S.C. 5311, et seq.). CME proposes 

to revise Rule 981 to further require 

clearing members to have a written 

AML compliance program reasonably 

designed to achieve compliance with 

the International Emergency Economic 

Powers Act (50 U.S.C. 1701, et seq.), the 

Trading with the Enemy Act (50 U.S.C. 

App. 1, et seq.), and Executive Orders 

and regulations issued thereunder. 

These amendments would therefore 

expand Rule 981 to encompass all 

applicable Office of Foreign Asset 

Control (OFAC) sanctions programs. 

OFAC administers and enforces 

economic and trade sanctions based on 

U.S. foreign policy and national security 

goals against targeted foreign countries 

and regimes, terrorists, international 

narcotics traffickers, those engaged in 

activities related to the proliferation of 

weapons of mass destruction, and other 

threats to the national security, foreign 

policy, or economy of the United States. 

OFAC acts under Presidential national 

emergency powers, as well as authority 

granted by specific legislation, to 

impose controls on transactions and 

freeze assets under U.S. jurisdiction. 

OFAC sanctions are broad and 

extraterritorial in scope and all 

investments and transactions in the 

U.S., or involving U.S. persons or 

corporations, must comply. 

The proposed rule change that is the 

subject of this filing will become 

immediately effective upon filing. CME 

notes that it has also certified the 

proposed rule change that is the subject 

of this filing to its primary regulator, the 

Commodity Futures Trading 

Commission. The text of the CME 

proposed rule amendment is listed 

above with additions italicized and 

deletions in brackets. 

The proposed CME rule amendment 

is designed to ensure that CME has in 

place appropriate eligibility standards 

by ensuring that clearing members have 

AML compliance programs that address 

all applicable requirements. The 

amendment simply expands existing 

CME Rule 981 to encompass all 

applicable OFAC sanctions programs. 

As such, the proposed amendments 

constitute a stated policy, practice, or 

interpretation with respect to the 

meaning, administration, or 

enforcement of an existing CME rule. 

Therefore, the proposed rule change is 

therefore properly filed under Section 

19(b)(3)(A) and Rule 19b–4(f)(1) 

thereunder of the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CME does not believe that the 

proposed rule change will have any 

impact or impose any burden on 

competition. 

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25216 Federal Register / Vol. 77, No. 82 / Friday, April 27, 2012 / Notices 

5 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 65180 

(August 22, 2011), 76 FR 53521 (August 26, 2011) 

(SR–NASDAQ–2011–111). 

4See Chapter XV, Options Pricing, Section 3(b) of 

the Options Rules portion of the NASDAQ 

Rulebook. 

5See NASDAQ OMX PHLX LLC Pricing 

Schedule, Section VII B (Port Fees). 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

CME has not solicited and does not 

intend to solicit comments regarding 

this proposed rule change. CME has not 

received any unsolicited written 

comments from interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change was filed 

pursuant to Section 19(b)(3)(A) of the 

Act and paragraph (f)(1) of Rule 19b–4 

thereunder and therefore became 

effective on filing. At any time within 

sixty 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 (http:// 

www.sec.gov/rules/sro.shtml), or send 

an email to rule-comments@sec.gov. 

Please include File No. SR–CME–2012– 

12 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–CME–2012–12. 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 (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 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 

also will be available for inspection and 

copying at the principal office of CME 

and on CME’s Web site at http:// 

www.cmegroup.com/market-regulation/ 

files/SEC_19b-4_12-12.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–CME–2012–12 and should 

be submitted on or before May 18, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.5

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–10159 Filed 4–26–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66848; File No. SR– 

NASDAQ–2012–052] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to 

SQF and BONO Port Fees and Account 

Fees 

April 23, 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 April 18, 

2012, The NASDAQ Stock Market LLC 

(‘‘NASDAQ’’ or ‘‘Exchange’’) 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 by NASDAQ. 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 modify 

Chapter XV, Options Pricing, Section 3, 

as well as to add an account fee 

(‘‘Account Fee’’) via Section 9, of the 

Options Rules portion of the NASDAQ 

Rulebook governing pricing for 

NASDAQ members using The NASDAQ 

Options Market (‘‘NOM’’), NASDAQ’s 

facility for executing and routing 

standardized equity and index options. 

While fee changes pursuant to this 

proposal are effective upon filing, the 

Exchange has designated these changes 

to be operative on May 1, 2012. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http:// 

www.nasdaq.cchwallstreet.com, at the 

principal office of the Exchange, 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 purpose of this filing is to recoup 

some of the costs associated with SQF 

and BONO ports, as well as to assess a 

new fee to recoup some of the monthly 

billing and processing costs associated 

with participant accounts. 

With respect to the proposed SQF 

port fee (‘‘SQF Port Fee’’), initially for 

which there was no charge,3 the 

Exchange believes that it is now 

reasonable to assess the proposed fee 

because the Exchange is no longer 

seeking to specifically incentivize 

market makers to connect to NOM 2.0. 

Additionally, the proposed SQF Port 

Fee is less than the range of port fees 

that are assessed today by NOM,4 as 

well as within the range of Port Fees 

currently charged by NASDAQ OMX 

PHLX LLC (‘‘PHLX’’).5

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