Federal Register / Vol. 74, No. 178 / Wednesday, September 16, 2009 / Notices 47633 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(2). 

5See Securities Exchange Act Release No. 59757 

(April 13, 2009), 74 FR 18268 (April 21, 2009) 

(Order Approving File No. SR–FINRA–2009–006). 

6See Securities Exchange Act Release No. 60424 

(August 4, 2009), 74 FR 39984 (August 10, 2009) 

(Notice of Filing and Immediate Effectiveness; File 

No. SR–FINRA–2009–049). 

7See Regulatory Notice 09–41 (July 2009). 

8Within the six-month period following the 

implementation of Rule 1032(i), individuals who 

are registered as a General Securities Representative 

and function in a member’s investment banking 

business line as described in Rule 1032(i) may opt 

in to the Limited Representative-Investment 

Banking registration category. After the six-month 

opt-in period, individuals who perform the job 

functions set out in Rule 1032(i) will be required 

to pass the Series 79 exam in lieu of the General 

Securities Representative (‘‘Series 7’’) exam (or 

equivalent exams), unless subject to an exception in 

the Rule. 

9 15 U.S.C. 78o–3(b)(5). 

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

11 17 CFR 240.19b–4(f)(2). 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–ISE–2009–61 and should be 

submitted on or before October 7, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–22245 Filed 9–15–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60640; File No. SR–FINRA– 

2009–056] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to Fee for 

Investment Banking Representative 

Examination 

September 9, 2009. 

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 August 

26, 2009, Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’) filed with the 

Securities and Exchange Commission 

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

rule change as described in Items I, II 

and III below, which Items have been 

prepared by FINRA. FINRA has 

designated the proposed rule change as 

‘‘establishing or changing a due, fee or 

other charge’’ under Section 

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

4(f)(2) thereunder,4 which renders the 

proposal effective upon receipt of this 

filing by 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 Substance of 

the Proposed Rule Change 

FINRA is proposing to amend 

Schedule A to the FINRA By-Laws to 

establish a fee for the new Investment 

Banking Representative Examination 

(‘‘Series 79’’). 

The text of the proposed rule change 

is available on FINRA’s Web site at 

http://www.finra.org, at the principal 

office of FINRA 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, 

FINRA 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. FINRA 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 

On April 13, 2009, the Commission 

approved NASD Rule 1032(i), which 

establishes a new limited representative 

category—Limited RepresentativeInvestment Banking—for persons whose 

activities are limited to investment 

banking and those who supervise such 

activities.5 FINRA has developed the 

Series 79 program to ensure that persons 

associated with FINRA members 

seeking to register as investment 

banking representatives have attained 

specified levels of competence and 

knowledge. On July 28, 2009, FINRA 

filed with the Commission the Series 79 

selection specifications and content 

outline.6 The examination will be 

implemented on November 2, 2009.7

The proposed rule change would 

amend Section 4 of Schedule A to 

FINRA By-Laws to establish a fee of 

$265 for an associated person to take the 

Series 79 exam. The fee is the same as 

that for the General Securities 

Representative exam (‘‘Series 7’’) 8 and 

is based on the costs to FINRA to 

develop and administer the exam. 

FINRA has filed the proposed rule 

change for immediate effectiveness. The 

implementation date will be November 

2, 2009, to coincide with the 

implementation date of NASD Rule 

1032(i). 

2. Statutory Basis 

FINRA believes that the proposed rule 

change is consistent with the Act, 

including Section 15A(b)(5) of the Act,9

which requires, among other things, that 

FINRA rules provide for the equitable 

allocation of reasonable dues, fees, and 

other charges among members and 

issuers and other persons using any 

facility or system that FINRA operates 

or controls. FINRA believes the 

proposed rule change is designed to 

accomplish these ends by equitably 

assessing the costs associated with 

developing and administering the 

examination program. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

FINRA does not believe that the 

proposed rule change will result in any 

burden on competition that is 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 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 10 and subparagraph (f)(2) of 

Rule 19b–4 thereunder.11 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: 


srobinson on DSKHWCL6B1PROD with NOTICES
47634 Federal Register / Vol. 74, No. 178 / Wednesday, September 16, 2009 / Notices 

12 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Regarding $1 strike price intervals for MNX, see 

Securities Exchange Act Release Nos. 58924 

(November 10, 2008), 73 FR 68464 (November 18, 

2008) (SR–CBOE–2008–96) (approval order); 58997 

(November 21, 2008), 73 FR 72887 (December 1, 

2008) (SR–ISE–2008–88) (notice of filing and 

immediate effectiveness); 59129 (December 22, 

2008), 73 FR 79945 (December 30, 2008) (SR–BSE– 

2008–57) (notice of filing and immediate 

effectiveness); and 60156 (June 22. 2009), 74 FR 

31077 (June 29, 2009) (SR–Phlx-2009–46) (notice of 

filing and immediate effectiveness). Regarding $1 

and smaller strike price intervals for other index 

options, see Securities Exchange Act Release Nos. 

39011 (September 3, 1997), 62 FR 47840 (September 

11, 1997) (SR–CBOE–1997–26) (approval order 

regarding $0.50 strike price intervals for DJIA 

options); and 58207 (July 29, 2008), 73 FR 43963 

(July 22, 2008) (SR–CBOE–2008–26) (approval order 

regarding $1 strike price intervals for BXM options). 

4Regarding $2.50 strike price intervals, see 

Securities Exchange Act Release Nos. 35993 (July 

19, 1995), 60 FR 38073 (July 25, 1995) (approving 

File Nos. SR–Phlx-95–08, SR–Amex-95–12, SR– 

PSE–95–07, SR–CBOE–95–19, and SR–NYSE–95– 

12 and approving the $2.50 pilot program); and 

40662 (November 12, 1998), 63 FR 64297 

(November 19, 1998) (approving File Nos. SR– 

Amex-98–21, SR–CBOE–98–29, SR–PCX–98–31, 

and SR–Phlx-98–26 and permanently approving the 

$2.50 pilot). 

5The SIG Indexes noted herein are trademarks of 

SIG Indices, LLLP. 

6The KBW Bank Index is also known as the 

PHLX/KBW Bank Index. See SR–Phlx-2009–58 

(clarifying the name as KBW Bank Index). 

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–FINRA–2009–056 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–FINRA–2009–056. 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 inspection and copying 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 FINRA. 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 publicly available. All 

submissions should refer to File 

Number SR–FINRA–2009–056 and 

should be submitted on or before 

October 7, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–22246 Filed 9–15–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60637; File No. SR–Phlx– 

2009–77] 

Self-Regulatory Organizations; Notice 

of Filing of Proposed Rule Change by 

NASDAQ OMX PHLX, Inc. Regarding 

Listing Certain Options at $1 Strike 

Price Intervals Below $200 and Listing 

Certain Options at $2.50 Strike Price 

Intervals Below $200 

September 9, 2009. 

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 

September 4, 2009, NASDAQ OMX 

PHLX, Inc. (‘‘Phlx’’ or ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) 

the proposed rule change as described 

in Items I, II, and III below, which Items 

have been 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 

The Exchange proposes to amend 

Phlx Rules 1012 (Series of Options 

Open for Trading) and 1101A (Terms of 

Option Contracts) regarding listing 

certain options at $1 strike price 

intervals below $200. The proposal also 

amends Rule 1101A regarding listing 

certain options on indexes at $2.50 

strike price intervals below $200. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http:// 

nasdaqomxphlx.cchwallstreet.com/ 

NASDAQOMXPHLX/Filings/, 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 rule changes proposed herein are 

consistent with existing rules and 

practices that allow Phlx and other 

options exchanges to list and trade 

Mini-NDX (MNX) and other index 

options at $1 strike price intervals,3 and 

to trade index options at $2.50 strike 

price intervals.4

The purpose of the proposed rule 

change is to amend Phlx Rules 1012 and 

1101A so that the Exchange may list 

eight index options at $1 strike price 

intervals below $200. The purpose is 

also to amend Rule 1101A so that the 

Exchange may list options on two 

indexes at $2.50 strike price intervals 

below $200. 

The indexes underlying options in 

respect of which the Exchange is 

proposing $1 strike price intervals in 

this filing, which are also known as 

sector indexes, are: PHLX Gold/Silver 

Index (option symbol XAU), PHLX 

Housing Index (option symbol HGX), 

PHLX Oil Service Index (option symbol 

OSX), SIG Oil Exploration & Production 

IndexTM (option symbol EPXSM),5 PHLX 

Semiconductor Index (option symbol 

SOX), KBW Bank Index (option symbol 

BKX),6 SIG Energy MLP IndexSM (option 


srobinson on DSKHWCL6B1PROD with NOTICES