9990 Federal Register / Vol. 75, No. 42 / Thursday, March 4, 2010 / Notices 

13 15 U.S.C. 78s(b)(3)(A). 

14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the self-regulatory organization 

to 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. 

15The text of the proposed rule change is 

available on Phlx’s Web site at http:// 

www.nasdaqtrader.com, on the Commission’s Web 

site at http://www.sec.gov, and at the Commission’s 

Public Reference Room. 

16 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3 In the event a party to a transaction requests that 

NASDAQ review a transaction, the NASDAQ officer 

nonetheless would need to determine, on his or her 

own motion, whether to review the transaction. 

19(b)(3)(A) of the Act 13 and Rule 19b– 

4(f)(6) thereunder.14

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

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–Phlx–2010–23 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–Phlx–2010–23. 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.15 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–Phlx–2010–23 and should 

be submitted on or before March 25, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–4454 Filed 3–3–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61573; File No. SR– 

NASDAQ–2010–022] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NASDAQ 

Stock Market, LLC. Inc. Relating To 

Amending NASDAQ Options Market 

(‘‘NOM’’) Chapter V, Section 6, Obvious 

Errors 

February 23, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1, and Rule 19b–4 2 thereunder, 

notice is hereby given that on February 

18, 2010, The NASDAQ Stock Market 

LLC (‘‘NASDAQ’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) the proposed 

rule change as described in Items I and 

II, below, which Items have been 

prepared by the 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 

NASDAQ proposes to amend 

NASDAQ Options Market (‘‘NOM’’) Rule 

Chapter V, Section 6, Obvious Errors, to 

adopt the ability to review transactions 

on NASDAQ’s own motion. 

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, 

NASDAQ included statements 

concerning the purpose of and basis for 

the proposed rule change. The text of 

these statements may be examined at 

the places specified in Item IV below. 

NASDAQ 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 the proposed rule 

change is to amend NOM Chapter V, 

Section 6 pertaining to the nullification 

and adjustment of options transactions. 

Specifically, NASDAQ proposes to 

adopt a provision which provides that 

in the interest of maintaining a fair and 

orderly market and for the protection of 

investors, the Chief Regulatory Officer 

of NASDAQ or his/her designee who is 

an officer (collectively ‘‘NASDAQ 

officer’’), may, on his or her own motion 

or upon request, determine to review 

any transaction occurring on NASDAQ 

that is believed to be erroneous.3 A 

transaction reviewed pursuant to this 

provision may be nullified or adjusted 

only if it is determined by the NASDAQ 

officer that the transaction is an obvious 

error as provided in Chapter V, Section 

6. A transaction would be adjusted or 

nullified in accordance with the 

provision under which it is deemed an 

erroneous transaction. The NASDAQ 

officer may be assisted by a designated 

employee in NASDAQ Regulation that 

is trained in the application of this rule 

for reviewing a transaction(s). 

The NASDAQ officer shall act 

pursuant to this paragraph as soon as 

possible after receiving notification of 

the transaction, and ordinarily would be 

expected to act on the same day as the 

transaction occurred. However, because 

a transaction under review may have 

occurred near the close of trading or due 

mstockstill on DSKH9S0YB1PROD with NOTICES

Federal Register / Vol. 75, No. 42 / Thursday, March 4, 2010 / Notices 9991 

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

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

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

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. 

8See Exchange Act Release No. 60978 (November 

10, 2009), 74 FR 59296 (November 17, 2009) 

(approving SR–CBOE–2009–68). 

9For 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). 

10The text of the proposed rule change is 

available on the Commission’s Web site at 

http://www.sec.gov. 

to unusual circumstances, the rule 

provides that the NASDAQ officer shall 

act no later than 9:30 a.m. (ET) on the 

next trading day following the date of 

the transaction in question. A party 

affected by a determination to nullify or 

adjust a transaction pursuant to this 

provision may appeal such 

determination in accordance with 

Chapter V, Section 6; however, a 

determination by a NASDAQ officer not 

to review a transaction, or a 

determination not to nullify or adjust a 

transaction for which a review was 

requested or conducted, is not 

appealable. NASDAQ believes it is 

appropriate to limit review on appeal to 

only those situations in which a 

transaction is actually nullified or 

adjusted. 

This provision is not intended to 

replace a party’s obligation to request a 

review, within the required time periods 

under Chapter V, Section 6, of any 

transaction that it believes meets the 

criteria for an obvious error. And, if a 

transaction is reviewed and a 

determination has been rendered 

pursuant to Chapter V, Section 6, no 

additional relief may be granted under 

this new provision. Moreover, NASDAQ 

does not anticipate exercising this new 

authority in every situation in which a 

party fails to make a timely request for 

review of this transaction pursuant to 

Chapter V, Section 6. NASDAQ believes 

this provision should help to protect the 

integrity of its marketplace by vesting a 

NASDAQ officer with the authority to 

review a transaction that may be 

erroneous, in those situations where a 

party failed to make a timely request for 

a review. 

NASDAQ believes that the provision 

would also be useful in situations where 

some parties, but not all, to trades 

around the same time have requested a 

review. Under the rule, reviews are 

currently request-based. Under the 

proposal, in this situation, NASDAQ 

would be able to invoke this provision 

to review a series of trades, whether or 

not all parties requested it. 

2. Statutory Basis 

NASDAQ believes that its proposal is 

consistent with Section 6(b) of the Act 4

in general, and furthers the objectives of 

Section 6(b)(5) of the Act 5 in particular, 

in that it is designed to promote just and 

equitable principles of trade, 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. NASDAQ notes that a 

NASDAQ officer can adjust or nullify a 

transaction under the authority granted 

by this provision only if the transaction 

meets the objective criteria for an 

obvious error under NASDAQ rules. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NASDAQ 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 proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; or (iii) become 

operative for 30 days after the date of 

the filing, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 6 and Rule 19b– 

4(f)(6) thereunder.7

The Exchange has requested that the 

Commission waive the 30-day operative 

delay so that the Exchange may 

promptly implement the proposed rule 

change. The Exchange believes that a 

recent trading situation that resulted in 

divergent outcomes on some other 

options markets could have been 

handled in a more clear and orderly way 

if the new provision had been in place. 

The Commission notes that the 

proposed rule change is substantively 

identical to a previously approved 

proposal from CBOE 8 and thus presents 

no new regulatory issues. The 

Commission believes that, under the 

circumstances, it is appropriate and 

consistent with the protection of 

investors and the public interest to 

waive the 30-day operative delay. 

Therefore, the Commission hereby 

designates the proposed rule change 

operative upon filing.9

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

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 

No. SR–NASDAQ–2010–022 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 No. 

SR–NASDAQ–2010–022. 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,10 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 

mstockstill on DSKH9S0YB1PROD with NOTICES

9992 Federal Register / Vol. 75, No. 42 / Thursday, March 4, 2010 / Notices 

11 17 CFR 200.30–3(a)(12). 

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 

Nasdaq. 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 No. 

SR–NASDAQ–2010–022 and should be 

submitted on or before March 25, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–4452 Filed 3–3–10; 8:45 am] 

BILLING CODE 8011–01–P 

SOCIAL SECURITY ADMINISTRATION 

Agency Information Collection 

Activities: Proposed Request and 

Comment Request 

The Social Security Administration 

(SSA) publishes a list of information 

collection packages requiring clearance 

by the Office of Management and 

Budget (OMB) in compliance with 

Public Law (Pub. L. 104–13), the 

Paperwork Reduction Act of 1995, 

effective October 1, 1995. This notice 

includes revisions and extensions of 

OMB-approved information collections. 

SSA is soliciting comments on the 

accuracy of the agency’s burden 

estimate; the need for the information; 

its practical utility; ways to enhance its 

quality, utility, and clarity; and ways to 

minimize burden on respondents, 

including the use of automated 

collection techniques or other forms of 

information technology. Mail, e-mail, or 

fax your comments and 

recommendations on the information 

collection(s) to the OMB Desk Officer 

and SSA Reports Clearance Director to 

the following addresses or fax numbers. 

(OMB), Office of Management and 

Budget, Attn: Desk Officer for SSA. 

Fax: 202–395–6974. E-mail address: 

OIRA_Submission@omb.eop.gov. 

(SSA), Social Security Administration, 

DCBFM, Attn: Director, Center for 

Reports Clearance, 1333 Annex 

Building, 6401 Security Blvd., 

Baltimore, MD 21235. Fax: 410–965– 

0454. E-mail address: 

OPLM.RCO@ssa.gov. 

I. The information collections below 

are pending at SSA. SSA will submit 

them to OMB within 60 days from the 

date of this notice. To be sure we 

consider your comments, we must 

receive them no later than May 3, 2010. 

Individuals can obtain copies of the 

collection instruments by calling the 

SSA Director for Reports Clearance at 

410–965–0454 or by writing to the 

above e-mail address. 

1. Application for Lump Sum Death 

Payment—20 CFR 404.390–404.392— 

0960–0013. SSA uses Form SSA–8–F4 

to collect information needed to 

authorize payment of the lump sum 

death payment (LSDP) to a widow, 

widower, or children as defined in 

section 202(i) of the Social Security Act. 

Respondents complete the application 

for this one-time payment via paper 

form, telephone, or an in-person 

interview with SSA employees. 

Respondents are applicants for the 

LSDP. 

Type of Request: Revision of an OMBapproved information collection. 

Collection method Number of 

respondents 

Estimated completion time 

(minutes) 

Burden hours 

MCS ........................................................................................................................... 278,825 10 46,471 

MCS/Signature Proxy ................................................................................................ 278,825 9 41,824 

Paper ......................................................................................................................... 29,350 10 4,892 

Totals: ................................................................................................................. 587,000 .............................. 93,187 

2. Certificate of Responsibility for 

Welfare and Care of Child Not in 

Applicant’s Custody—20 CFR 404.330, 

404.339–341, and 404.348–404.349— 

0960–0019. SSA uses Form SSA–781 to 

determine if non-custodial parents who 

are filing for spouse’s or mother’s and 

father’s benefits based on having a child 

in their care meet the in-care 

requirements. Respondents are 

applicants for spouse’s and/or mother’s 

and father’s benefits. 

Type of Request: Revision of an OMBapproved information collection. 

Number of Respondents: 14,000. 

Frequency of Response: 1. 

Average Burden Per Response: 10 

minutes. 

Estimated Annual Burden: 2,333 

hours. 

3. Supplemental Statement Regarding 

Farming Activities of Person Living 

Outside the U.S.A.—0960–0103. SSA 

uses Form SSA–7163A to document 

beneficiary or claimant reports of 

working on a farm outside the United 

States (U.S.). Specifically, the 

information provided on this form helps 

us to determine if we should apply 

foreign work deductions to the 

recipient’s benefits. We collect the 

information either annually or every 

other year, depending on the 

respondent’s country of residence. 

Respondents are Social Security 

recipients engaged in farming activities 

outside the U.S. 

Type of Request: Revision of an OMBapproved information collection. 

Number of Respondents: 1,000. 

Frequency of Response: 1. 

Average Burden Per Response: 1 hour. 

Estimated Annual Burden: 1,000 

hours. 

4. Disability Report—Appeal—20 CFR 

404.1512, 416.912, 404.916(c), 

416.1416(c), 405 Subpart C, 422.140— 

0960–0144. SSA requires disability 

claimants who are appealing an 

unfavorable disability determination to 

complete Form SSA–3441–BK. This 

form allows claimants to disclose any 

changes to their disability or resources 

that might influence SSA’s unfavorable 

determination. SSA may use the 

information to: (1) Reconsider and 

review an initial disability 

determination; (2) review a continuing 

disability; and (3) evaluate a request for 

a hearing. This information assists the 

State Disability Determination Services 

and administrative law judges (ALJ) in: 

(1) Preparing for the appeals and 

hearings; and (2) issuing a 

determination or decision on an 

individual’s entitlement (initial or 

continuing) to disability benefits. 

Respondents are individuals who 

appeal denial, reduction, or cessation of 

Social Security disability income and 

Supplemental Security Income (SSI) 

payments, or who are requesting a 

hearing before an ALJ. 

Type of Request: Revision of an OMBapproved information collection. 

mstockstill on DSKH9S0YB1PROD with NOTICES