Federal Register / Vol. 75, No. 229 / Tuesday, November 30, 2010 / Notices 74121 

18The Exchange has satisfied the five-day prefiling notice requirement. 

19 17 CFR 240.19b–4(f)(6)(iii). 

20See Section 102 of the Guide; see also supra 

note 10. 

21See supra note 11. 

22See supra note 13. 

23For purposes only of waiving the operative 

delay for this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 

24 15 U.S.C. 78s(b)(3)(C). 

25 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

interest; (ii) impose any significant 

burden on competition; and (iii) by its 

terms, become operative for 30 days 

from the date on which it was filed, or 

such shorter time as the Commission 

may designate if consistent with the 

protection of investors and the public 

interest, provided that the Exchange has 

given the Commission 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, or such 

shorter time as designated by the 

Commission.18

A proposed rule change filed under 

Rule 19b–4(f)(6) normally may not 

become operative prior to 30 days after 

the date of filing. However, Rule 19b– 

4(f)(6)(iii) 19 permits the Commission to 

designate a shorter time if such action 

is consistent with the protection of 

investors and the public interest. The 

Exchange has requested that the 

Commission waive the 30-day operative 

delay period. 

The Commission believes that waiver 

of the 30-day operative delay period is 

consistent with the protection of 

investors and the public interest. 

Specifically, the Commission notes that 

the proposal is substantially identical to 

Nasdaq’s listing standards for special 

purpose acquisition companies 

(‘‘SPACs’’) and raises no new or novel 

regulatory issues. The Commission 

notes that the proposal differs from 

Nasdaq’s rules in three respects. First, 

the proposal’s definition of ‘‘public 

shareholder’’ would exclude any person 

with concentrated holdings of 10% or 

more. The Commission notes that this 

proposed definition is consistent with 

the Exchange’s current definition.20

Second, the proposal would include a 

definition of ‘‘family member.’’ The 

Commission notes that while the term 

‘‘family member’’ is used in Nasdaq’s 

SPAC rules, it is not specifically defined 

in those rules because it is defined 

elsewhere in Nasdaq’s rules. The 

definition of ‘‘family member’’ in the 

Exchange’s proposal, however, is 

identical to the definition of ‘‘family 

member’’ as defined in Nasdaq’s rules 

and referenced in Nasdaq’s SPAC listing 

standards.21 Finally, the proposal would 

specify that SPACs that do not meet the 

Exchange’s initial listing standards 

following a business combination or 

that do not comply with one of the 

SPAC listing standards in proposed 

Section 119 of the Guide would not be 

eligible to follow the cure procedures in 

Section 1009 of the Guide, which allows 

listed companies up to 18 months to 

cure certain continued listing standards 

deficiencies. Instead, under the 

proposal, the Exchange would 

immediately commence delisting 

proceedings pursuant to Section 1010 of 

the Guide. The Commission notes that 

this proposal is identical to NYSE’s 

listing standards for SPACs and helps to 

ensure that a SPAC unable to meet 

listing standards will not remain listed 

for an extended period of time.22

Accordingly, based on the above, the 

Commission designates, consistent with 

the protection of investors and public 

interest, that the proposed rule change 

be operative upon filing.23

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.24

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–NYSEAmex–2010–103 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–NYSEAmex–2010–103. 

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 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 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 Number SR– 

NYSEAmex–2010–103 and should be 

submitted on or before December 21, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.25

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–30087 Filed 11–29–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63364; File No. SR–BX– 

2010–078] 

Self-Regulatory Organizations; 

NASDAQ OMX BX; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Extending the Pilot 

Period for Boston Options Exchange 

To Receive Inbound Routes of Orders 

From Nasdaq Options Services 

November 23, 2010. 

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 

November 17, 2010, NASDAQ OMX BX 

(the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II, 


jdjones on DSK8KYBLC1PROD with NOTICES
74122 Federal Register / Vol. 75, No. 229 / Tuesday, November 30, 2010 / Notices 

3 17 CFR 240.19b–4(f)(6). 

4NOM Rule Chapter VI, Section 11(c). Under 

NOM Rule Chapter VI, Section 11(c): (1) NOM 

routes orders in options via NOS, which serves as 

the sole ‘‘routing facility’’ of NOM; (2) the sole 

function of the routing facility is to route orders in 

options to away markets pursuant to NOM rules, 

solely on behalf of NOM; (3) NOS is a member of 

an unaffiliated self-regulatory organization, which 

is the designated examining authority for the 

broker-dealer; (4) the routing facility is subject to 

regulation as a facility of the NASDAQ Exchange, 

including the requirement to file proposed rule 

changes under Section 19 of the Act; (5) use of NOS 

to route order to other market centers is optional; 

(6) NOM must establish and maintain procedures 

and internal controls reasonably designed to 

adequately restrict the flow of confidential and 

proprietary information between the NASDAQ 

Exchange and its facilities (including the routing 

facility), and any other entity; and (7) the books, 

records, premises, officers, directors, agents, and 

employees of the routing facility, as a facility of the 

NASDAQ Exchange, shall be subject at all times to 

inspection and copying by the NASDAQ Exchange 

and the Commission. 5See Securities Exchange Act Release No. 60349 

(July 20, 2009), 74 FR 37071 (July 27, 2009) (SR– 

BX–2009–035); Securities Exchange Act Release No. 

60354 (July 21, 2009), 74 FR 37074 (July 27, 2009) 

(SR–NASDAQ–2009–065). 6See Chapter XXXIX, Section 2(c) of the 

Grandfathered Rules of the Exchange. 7See Securities Exchange Act Release No. 62555 

(July 22, 2010), 75 FR 44835 (July 29, 2010) (SR– 

BX–2010–051). 8 15 U.S.C. 78f. 

9 15 U.S.C. 78f(b)(5). 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f)(6). 

12 17 CFR 240.19b–4(f)(6)(iii). In addition, Rule 

19b–4(f)(6)(iii) requires that a self-regulatory 

organization submit to 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, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 

13 Id. 

14See supra Section II.A.2. 

below, which Items have been prepared 

by the Exchange. The Exchange has 

designated the proposed rule change as 

constituting a non-controversial rule 

change under Rule 19b–4(f)(6) under the 

Act,3 which renders the proposal 

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 the Substance 

of the Proposed Rule Change 

The Exchange submits this proposed 

rule change to extend the pilot period of 

the Exchange’s prior approval for 

Boston Options Exchange (‘‘BOX’’) to 

receive inbound routes of certain option 

orders from Nasdaq Options Services, 

LLC (‘‘NOS’’) through May 18, 2011. 

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 

Currently, NOS is the approved 

outbound routing facility of the 

NASDAQ Exchange for NOM, providing 

outbound routing from NOM to other 

market centers.4 The Exchange and the 

NASDAQ Exchange have previously 

adopted rules to permit BOX to receive 

inbound routes of certain option orders 

by NOS in its capacity as an order 

routing facility of the NASDAQ 

Exchange for NOM.5 The Exchange 

specifically has adopted a rule to 

prevent potential informational 

advantages resulting from the affiliation 

between BOX and NOS, as related to 

NOS’s authority to route certain orders 

from NOM to BOX without checking the 

NOM book prior to routing.6 NOS’s 

authority to route these orders to BOX 

is subject to a pilot period ending 

November 17, 2010.7 The Exchange 

hereby seeks to extend the previously 

approved pilot period (with the 

attendant obligations and conditions) 

for an additional 6 months, through May 

18, 2011. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the Act,8

in general, and with Section 6(b)(5) of 

the Act,9 in particular, in that the 

proposal is designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to foster cooperation 

and coordination with persons engaged 

in regulating, clearing, settling, 

processing information with respect to, 

and facilitating transactions in 

securities, to remove impediments to 

and perfect the mechanism of a free and 

open market and a national market 

system, and, in general, to protect 

investors and the public interest. 

Specifically, the proposed rule change 

will allow BOX to continue receiving 

inbound routes of equities orders from 

NOS, acting in its capacity as a facility 

of the NASDAQ Exchange, in a manner 

consistent with prior approvals and 

established protections. The Exchange 

believes that extending the previously 

approved pilot period for three [sic] 

months is of sufficient length to permit 

both the Exchange and the Commission 

to assess the impact of the Exchange’s 

authority to permit BOX to receive 

direct inbound routes of certain option 

orders via NOS (including the attendant 

obligations and conditions). 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange 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. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing rule change 

does not: (1) Significantly affect the 

protection of investors or the public 

interest; (2) impose any significant 

burden on competition; and (3) become 

operative for 30 days after the date of 

this filing, or such shorter time as the 

Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 10 and Rule 19b– 

4(f)(6) thereunder.11

A proposed rule change filed under 

19b–4(f)(6) normally may not become 

operative prior to 30 days after the date 

of filing.12 However, Rule 19b– 

4(f)(6)(iii) 13 permits the Commission to 

designate a shorter time if such action 

is consistent with the protection of 

investors and the public interest. The 

Exchange has requested that the 

Commission waive the 30-day operative 

delay. The Exchange notes that the 

proposal will allow BOX to continue 

receiving inbound routes of equities 

orders from NOS, in a manner 

consistent with prior approvals and 

established protections, while also 

permitting the Exchange and the 

Commission to assess the impact of the 

pilot.14 The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest 

because such waiver would allow the 


jdjones on DSK8KYBLC1PROD with NOTICES
Federal Register / Vol. 75, No. 229 / Tuesday, November 30, 2010 / Notices 74123 

15For the purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 16 17 CFR 200.30–3(a)(12). 

pilot period to be extended without 

interruption delay through May 18, 

2011. For this reason, the Commission 

designates the proposed rule change to 

be operative upon filing with the 

Commission.15

At any time within 60 days of the 

filing of such 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. 

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–BX–2010–078 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–BX–2010–078. 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 Web site viewing and 

printing in the Commission’s Public 

Reference Room 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 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 

Number SR–BX–2010–078 and should 

be submitted on or before December 21, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–30035 Filed 11–29–10; 8:45 am] 

BILLING CODE 8011–01–P 

SOCIAL SECURITY ADMINISTRATION 

[Docket No. SSA–2010–0054] 

Office of the Commissioner; Cost-ofLiving Increase and Other 

Determinations for 2011; Correction 

AGENCY: Social Security Administration. 

ACTION: Notice; correction. 

We published a document in the 

Federal Register of October 26, 2010, 

Cost-of-Living Increase and Other 

Determinations for 2011. (75 FR 65696; 

FR Doc. 2010–26983) Subsequently we 

identified two wage-reporting 

irregularities. We have now excluded 

the irregularities and posted the 

updated AWI and corresponding 

automatic adjustments on our Web site 

at http://www.ssa.gov/OACT/COLA/ 

index.html. 

The updated notice is republished 

here in its entirety. 

SUMMARY: Under title II of the Social 

Security Act (Act), there will be no costof-living increase in Social Security 

benefits effective for December 2010. As 

a result, the following items will remain 

at their 2010 levels: 

(1) The maximum Federal 

Supplemental Security Income (SSI) 

monthly benefit amounts for 2011, 

under title XVI of the Act, will remain 

$674 for an eligible individual, $1,011 

for an eligible individual with an 

eligible spouse, and $338 for an 

essential person; 

(2) The special benefit amount under 

title VIII of the Act for certain World 

War II veterans will remain $505.50 in 

2011; 

(3) The student earned income 

exclusion under title XVI of the Act will 

remain $1,640 per month in 2011, but 

not more than $6,600 in all of 2011; 

(4) The dollar fee limit for services 

performed as a representative payee will 

remain $37 per month ($72 per month 

in the case of a beneficiary who is 

disabled and has an alcoholism or drug 

addiction condition that leaves him or 

her incapable of managing benefits) in 

2011; 

(5) The dollar limit on the 

administrative-cost assessment charged 

to attorneys representing claimants will 

remain $83 in 2011; 

(6) The Old-Age, Survivors, and 

Disability Insurance (OASDI) 

contribution and benefit base will 

remain $106,800 for remuneration paid 

in 2011 and self-employment income 

earned in taxable years beginning in 

2011; 

(7) The monthly exempt amounts 

under the Social Security retirement 

earnings test for taxable years ending in 

calendar year 2011 will remain $1,180 

and $3,140; 

(8) The ‘‘old-law’’ contribution and 

benefit base under title II of the Act will 

remain $79,200 for 2011; and 

(9) The monthly amount deemed to 

constitute substantial gainful activity for 

statutorily blind individuals in 2011 

will remain $1,640. 

The national average wage index for 

2009 is $40,711.61. This index affects 

the following items: 

(1) The dollar amounts (‘‘bend 

points’’) used in the primary insurance 

amount benefit formula for workers who 

become eligible for benefits, or who die 

before becoming eligible, in 2011 will be 

$749 and $4,517; 

(2) The bend points used in the 

formula for computing maximum family 

benefits for workers who become 

eligible for benefits, or who die before 

becoming eligible, in 2011 will be $957, 

$1,382, and $1,803; 

(3) The amount of taxable earnings a 

person must have to be credited with a 

quarter of coverage in 2011 will be 

$1,120; 

(4) The monthly amount deemed to 

constitute substantial gainful activity for 

non-blind disabled persons will be 

$1,000 in 2011; 

(5) The earnings threshold 

establishing a month as a part of a trial 

work period will be $720 for 2011; and 

(6) Coverage thresholds for 2011 will 

be $1,700 for domestic workers and 

$1,500 for election officials and election 

workers. 

FOR FURTHER INFORMATION CONTACT: 

Susan C. Kunkel, Office of the Chief 

Actuary, Social Security 

Administration, 6401 Security 

Boulevard, Baltimore, MD 21235, (410) 


jdjones on DSK8KYBLC1PROD with NOTICES