80560 Federal Register / Vol. 75, No. 245 / Wednesday, December 22, 2010 / Notices 

15The text of the proposed rule change is 

available on the Commission’s Web site at http:// 

www.sec.gov. 

16 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. 57044 

(December 27, 2007), 73 FR 2 (January 3, 2008) (SR– 

CBOE–2007–130). 

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–NYSEAmex–2010–118 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–2010–118. 

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 the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange.15 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–2010–118 and should be 

submitted on or before January 12, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–32087 Filed 12–21–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63559; File No. SR–CBOE– 

2010–109] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing of a 

Proposed Rule Change Regarding Rule 

4.20—Anti-Money Laundering 

Compliance Program 

December 16, 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 December 

2, 2010, the Chicago Board Options 

Exchange, Incorporated (‘‘Exchange’’ or 

‘‘CBOE’’) 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 substantially 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 

CBOE proposes to amend CBOE Rule 

4.20 to require all Trading Permit 

Holders or TPH organizations to 

conduct independent testing during the 

first calendar year of becoming a 

Trading Permit Holder or TPH 

organization. The text of the proposed 

rule change is available on the 

Exchange’s Web site (http:// 

www.cboe.org/legal), at the Exchange’s 

Office of the Secretary, 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, 

CBOE 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposed rule 

change is to amend Rule 4.20—AntiMoney Laundering Compliance Program 

to require all Trading Permit Holders or 

TPH organizations to conduct 

independent testing during the first 

calendar year of becoming a Trading 

Permit Holder or TPH organization. 

CBOE Rule 4.20 generally requires 

annual (on a calendar-year basis) 

independent testing for compliance. 

However, if the Trading Permit Holder 

or TPH organization does not execute 

transactions for customers or otherwise 

hold customer accounts, or act as an 

introducing broker with respect to 

customer accounts (e.g., engages solely 

in proprietary trading or conducts 

business only with other brokerdealers), such ‘‘independent testing’’ is 

required every two years (on a calendaryear basis). The Exchange believes that 

it is prudent to amend this rule to 

require that all Trading Permit Holders 

or TPH organizations conduct testing 

during the first calendar year of the 

Trading Permit Holder or TPH 

organization’s existence to ensure antimoney laundering compliance is in 

place and established at the outset of the 

Trading Permit Holder’s or TPH 

organization’s existence, even if they 

would thereafter conduct such testing 

every two years. 

CBOE Interpretations and Policies .01 

continues to provide that all Trading 

Permit Holders should undertake more 

frequent testing than required by Rule 

4.20 if circumstances warrant (e.g., 

should the business mix of the Trading 

Permit Holder or TPH organization 

materially change, in the event of a 

merger or acquisition, in light of a 

systemic weaknesss uncovered via 

testing of the anti-money laundering 

program, or in response to any other 

‘‘red flags’’).3


srobinson on DSKHWCL6B1PROD with NOTICES
Federal Register / Vol. 75, No. 245 / Wednesday, December 22, 2010 / Notices 80561 

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

5 15 U.S.C. 78f(b)(5). 6 17 CFR 200.30–3(a)(12). 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) 4 of the Act and the rules 

and regulations thereunder, in general, 

and furthers the objectives of Section 

6(b)(5),5 in particular, in that it 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 

facilitating transactions in securities, 

and to remove impediments to and 

perfect the mechanisms of a free and 

open market and a national market 

system, and, in general, to protect 

investors and the public interest. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CBOE 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 

The Exchange neither solicited nor 

received written comments on the 

proposal. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

as the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding or 

(ii) as to which the self-regulatory 

organization consents, the Commission 

will: 

(A) by order approve or disapprove 

such proposed rule change, or 

(B) institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

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–CBOE–2010–109 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–CBOE–2010–109. 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 

CBOE. 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–CBOE–2010–109 and 

should be submitted on or before 

January 12, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–32067 Filed 12–21–10; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Community Express Pilot Program 

AGENCY: U.S. Small Business 

Administration (SBA). 

ACTION: Notice of short-term extension 

and termination of the Community 

Express Pilot Program. 

SUMMARY: This notice announces the 

termination of the Community Express 

Pilot Program following a four month 

extension to April 30, 2011. As of May 

1, 2011, no new Community Express 

loan applications will be approved. SBA 

is in the process of replacing this pilot 

with two new lending initiatives aimed 

at increasing 7(a) lending in 

underserved communities which 

initiatives are expected to be available 

by April 30, 2011. 

DATES: The Community Express Pilot 

Program is extended through April 30, 

2011, at which time the pilot program 

will terminate. 

FOR FURTHER INFORMATION CONTACT: 

Grady B. Hedgespeth, Office of 

Financial Assistance, U.S. Small 

Business Administration, 409 Third 

Street, SW., Washington, DC 20416; 

Telephone (202) 205–6490; 

grady.hedgespeth@sba.gov. 

SUPPLEMENTARY INFORMATION: The 

Community Express Pilot Program was 

established in 1999 and was based on 

the Agency’s SBA Express Program. 

Lenders approved for participation in 

Community Express are authorized to 

use the expedited loan processing 

procedures in place for SBA Express for 

lending to distressed or underserved 

markets. In addition, participating 

lenders must arrange and, when 

necessary, pay for appropriate 

management and technical assistance 

for their Community Express borrowers. 

To encourage lenders to make these 

loans, SBA provides its full 75–85 

percent guaranty, rather than the 50 

percent guaranty the Agency provides 

under SBA Express. The maximum loan 

amount under this pilot program is 

$250,000. 

On June 30, 2008, SBA published a 

notice in the Federal Register to extend 

the Community Express Pilot Program 

through September 30, 2008, and to 

notify the public of SBA’s plan to 

significantly restructure the pilot 

program effective October 1, 2008. The 

notice also indicated that the 

restructured pilot program would be 

extended through December 31, 2009 

(73 FR 36950). On January 5, 2010, SBA 

announced that to allow time to better 

evaluate the results of the program 

changes implemented in October 2008, 


srobinson on DSKHWCL6B1PROD with NOTICES