Federal Register / Vol. 75, No. 249 / Wednesday, December 29, 2010 / Notices 82097 

1 15 U.S.C. 80b–4(b). 

2The IARD system is used by both advisers 

registering or registered with the SEC and advisers 

registered or registering with one or more state 

securities authorities. NASAA represents the state 

securities administrators in setting IARD filing fees 

for state-registered advisers. 

3FINRA letter dated November 12, 2010 available 

at http://www.sec.gov/rules/other/2010/ 

finraletter111210-iardfees.pdf. 

4The revised fee level for advisers in the largest 

category would newly include advisers that report 

assets under management of exactly $100 million 

(not just over $100 million). We are making this 

revision to track the new mid-sized adviser category 

for advisers reporting assets under management of 

$25 million up to, but not including, $100 million. 

See section 410 of the Dodd-Frank Wall Street 

Reform and Consumer Protection Act (Pub. L. 111– 

203, 124 Stat. 1376 (2010)). 

information regarding former federal 

employment. Section 12 became Section 

13c, Employment Record. The 

collection was expanded to require 

reporting of adverse incidents in the 

workplace, specifically written 

warnings, official reprimands, 

suspensions, and discipline for 

misconduct in the workplace. Section 

14 became Selective Service Record. 

The Selective Service Web site, http:// 

www.sss.gov, was added to assist the 

respondent in obtaining their Selective 

Service number. Section 15 became 

Military History. The collection was 

expanded to require military discharge 

type and details of any courts martial 

within the last 7 years. The collection 

regarding foreign military service was 

expanded to collect information 

regarding service in a foreign 

intelligence, diplomatic, security forces, 

militia, other defense force, or 

government agency, and to collect 

additional details of such service. In 

Section 17, Marital Status, the collection 

was expanded to collect cohabitant and 

former spouse information. Section 18 

became Relatives and the collection was 

expanded to collect aliases of named 

relatives. Section 19 became Foreign 

Countries You Have Visited. Branching 

questions were added to collect more 

specific details pertinent to incidents of 

being questioned, searched or detained 

by local customs or security service 

officials, involvement in any encounter 

with the police or in contact with any 

person known or suspected of being 

involved or associated with foreign 

intelligence, terrorist, security, or 

military organizations. In Section 20, 

Police Record, branching questions were 

added to inquire about the disposition 

of criminal proceedings, and to inquire 

about offenses related to firearms, 

explosives, alcohol and drugs. 

Questions were added to the section in 

order to identify respondents who may 

be impacted by the restrictions cited in 

the Lautenberg Amendment. The 

exception to omit traffic fines of less 

than $150 was changed to $300 (unless 

related to alcohol or drugs) to account 

for the nature of fine increases since the 

1995 version of the form. Section 21 

became Illegal Use of Drugs and Drug 

Activity. The collection was expanded 

to collect information regarding illegal 

use of drugs and drug involvement 

during the last 7 years, and branching 

questions were added to inquire about 

drug involvement while employed as a 

law enforcement officer, prosecutor or 

courtroom official, misuse of 

prescription drugs and involvement in 

counseling or treatment as a result of 

illegal use of drugs. Section 22, Use of 

Alcohol, was added, to collect 

information regarding negative impacts 

of alcohol on the respondent’s work 

performance and professional 

relationships during the last 7 years, 

and to identify attempts at rehabilitation 

through counseling or treatment. 

Section 23, Investigations and Clearance 

Record, was expanded to collect 

additional information necessary for 

investigation to obtain relevant prior 

records and to elicit explanations 

regarding prior security clearance 

adverse actions of debarments from 

federal employment. In Section 24, 

Financial Record, branching questions 

were added to elicit specific detailed 

information pertaining to each financial 

area instead of an open text field for 

respondents to provide explanation. A 

question was added regarding 

involvement with a credit counseling 

service to capture mitigating 

information from respondents who seek 

assistance to resolve an inability to meet 

financial obligations. Section 25, Use of 

Information Technology Systems, was 

added to elicit information pertinent to 

respondent’s illegal or unauthorized 

access or attempt to access any 

information technology system. Section 

26, Involvement in Non-Criminal Court 

Actions, was added to collect 

information when the respondent, in the 

last seven years, has been a defendant 

in any public record civil court action 

alleging fraud or intentional tortious 

conduct. Section 27, Association 

Record, was added to collect detailed 

information pertinent to a respondent’s 

involvement in terrorist organizations, 

association with persons involved in 

activities to further terrorism and/or to 

overthrown the U.S. Government by 

force or violence. Verbiage was added to 

the Authorization for Release of 

Information authorizing the Social 

Security Administration (SSA) to verify 

respondent’s Social Security Number 

and provide the results to OPM. The 

Authorization for Release of Medical 

Information was updated to 

acknowledge the Health Insurance 

Portability and Accountability Act 

(HIPPA) and to provide information 

regarding the circumstances when its 

use is required. The Fair Credit 

Reporting Disclosure and Authorization 

Form was made part of the proposed SF 

85P as required under previous OMB 

Terms of Clearance in order to 

standardize the release by which 

collection of credit bureau reports is 

authorized. 

OPM also proposes changes to the SF 

85P–S. Questions regarding the illegal 

use of drugs in the last 7 years will be 

removed as this information will be 

collected in the primary SF 85P 

questionnaire; however, the question 

regarding illegal use of drugs ever while 

in a public safety position or position of 

trust will remain. Questions regarding 

alcohol treatment or counseling in the 

last 7 years will be removed as this 

information will be collected in the 

primary SF 85P questionnaire. 

U.S. Office of Personnel Management. 

John Berry, 

Director. 

[FR Doc. 2010–32871 Filed 12–28–10; 8:45 am] 

BILLING CODE 6325–38–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. IA–3126/December 22, 2010] 

Order Approving Investment Adviser 

Registration Depository Filing Fees 

Section 204(b) of the Investment 

Advisers Act of 1940 (‘‘Advisers Act’’) 

authorizes the Commission to require 

investment advisers to file applications 

and other documents through an entity 

designated by the Commission, and to 

pay reasonable costs associated with 

such filings.1 Commission staff, 

representatives of the North American 

Securities Administrators Association, 

Inc. (‘‘NASAA’’),2 and representatives of 

the Financial Industry Regulatory 

Authority (‘‘FINRA’’), the IARD system 

operator, periodically hold discussions 

on IARD system finances. 

FINRA wrote to Commission staff in 

November recommending revised 

annual and initial IARD filing fees to 

commence on January 1, 2011.3 The 

recommended fee levels would increase 

the fee for advisers with assets under 

management of $100 million or higher, 

but would not change the fee levels for 

advisers with assets under management 

under $100 million.4 The recommended 

annual filing fees due beginning January 

1, 2011 are $40 for advisers with assets 


srobinson on DSKHWCL6B1PROD with NOTICES
82098 Federal Register / Vol. 75, No. 249 / Wednesday, December 29, 2010 / Notices 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 62818 

(September 1, 2010), 75 FR 54665 (‘‘Notice’’). 

4See Letters to Elizabeth M. Murphy, Secretary, 

Commission, from Tom A. Alberg, Managing 

Director and Founder, Madrona Venture Group, 

dated December 1, 2010; Michael R. Trocchio, 

Bingham McCutchen LLP, dated October 3, 2010; 

and William F. Galvin, Secretary of the 

Commonwealth, Commonwealth of Massachusetts, 

dated September 28, 2010. For a summary of these 

comments, see Securities Exchange Act Release No. 

63448 (December 7, 2010), 75 FR 77036 (December 

10, 2010) (‘‘Order Instituting Proceedings’’). 

5See Securities Exchange Act Release No. 63105 

(October 14, 2010), 75 FR 64772 (October 20, 2010). 

6See Order Instituting Proceedings, supra note 4. 

7The Commission notes that BX has proposed, in 

this Amendment No. 1, to name the new listing 

market as ‘‘The BX Venture Market,’’ rather than 

‘‘BX.’’ 

8See Securities Exchange Act Release No. 59265 

(January 16, 2009), 74 FR 4790 (January 27, 2009) 

(approving SR–BSE–2008–36 relating to the 

delisting of all securities from the Exchange in 

connection with the Exchange’s discontinuation of 

trading). 

under management under $25 million; 

$150 for advisers with assets under 

management from $25 million to $100 

million; and $225 for advisers with 

assets under management of $100 

million or higher. The recommended 

initial IARD filing fees due beginning 

January 1, 2011 are $40 for advisers 

with assets under management under 

$25 million; $150 for advisers with 

assets under management from $25 

million to $100 million; and $225 for 

advisers with assets under management 

of $100 million or higher. The revised 

filing fees would apply to all annual 

updating amendments filed by SECregistered advisers beginning January 1, 

2011 and to all initial applications for 

registration filed by advisers applying 

for SEC registration beginning January 1, 

2011. 

On December 2, 2010 we issued a 

notice indicating our intent to charge 

revised fees IARD filing fees for advisers 

registering or registered with the 

Commission. The notice gave interested 

persons an opportunity to request a 

hearing and stated that an order 

instituting revised IARD filing fees 

would be issued unless a hearing was 

ordered. No request for a hearing has 

been filed, and no hearing has been 

ordered. 

It is therefore ordered, pursuant to 

Sections 204(b) and 206(A) of the 

Investment Advisers Act of 1940, that: 

For annual updating amendments to 

Form ADV filed on or after January 1, 

2011, the filing fee due from SECregistered advisers is $40 for advisers 

with assets under management under 

$25 million; $150 for advisers with 

assets under management from $25 

million to $100 million; and $225 for 

advisers with assets under management 

of $100 million or higher. 

For initial applications to register as 

an investment adviser with the SEC 

filed on or after January 1, 2011, the 

filing fee due from SEC-registered 

advisers is $40 for advisers with assets 

under management under $25 million; 

$150 for advisers with assets under 

management from $25 million to $100 

million; and $225 for advisers with 

assets under management of $100 

million or higher. 

By the Commission. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–32715 Filed 12–28–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63597; File No. SR–BX– 

2010–059] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

of Amendment No. 1 to Proposed Rule 

Change To Create a Listing Market on 

the Exchange 

December 22, 2010. 

On August 20, 2010, NASDAQ OMX 

BX, Inc. (the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (the ‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

create a listing market on the Exchange. 

The proposed rule change was 

published for comment in the Federal 

Register on September 8, 2010.3 The 

Commission received three comments 

on the proposal.4 The Commission 

subsequently extended the time period 

in which to either approve the proposed 

rule change, disapprove the proposed 

rule change, or institute proceedings to 

determine whether to disapprove the 

proposed rule change, to December 7, 

2010.5 On December 6, 2010, the 

Exchange filed Amendment No. 1 to the 

proposed rule change as described in 

Items I and II below, which items have 

been prepared by the Exchange. On 

December 7, 2010, the Commission 

instituted proceedings to determine 

whether to disapprove the proposed 

rule change, as modified by Amendment 

No. 1.6 Although the Order Instituting 

Proceedings included a summary of 

Amendment No. 1, the Commission is 

publishing the full text of Amendment 

No. 1 for the benefit of interested 

persons who wish to comment on the 

proposed rule change. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

Amendment No. 1 to the Proposed Rule 

Change 

The Exchange proposes to create a 

listing market, which will be called 

‘‘BX’’ [sic].7 Following Commission 

approval, the Exchange will announce 

the operational date of the new market 

in an Equity Trader Alert and press 

release. The proposed rules will become 

effective on the operational date. 

The text of the proposed rule change 

is available at http:// 

nasdaqomxbx.cchwallstreet.com, at 

BX’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 

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 

In connection with the acquisition of 

the former Boston Stock Exchange by 

The NASDAQ OMX Group, Inc., the 

Exchange discontinued its listing 

marketplace and delisted all securities 

previously listed on the Exchange.8

Since January 2009, the Exchange has 

operated as a trading venue only, 

allowing market participants to trade 

securities listed on other national 

securities exchanges pursuant to 

unlisted trading privileges. 

The Exchange is proposing to begin 

listing securities again, through the 

creation of a new listing market, to be 

called ‘‘The BX Venture Market.’’ The 

BX Venture Market will have minimal 

quantitative listing standards, but have 

qualitative requirements, which are, in 


srobinson on DSKHWCL6B1PROD with NOTICES