52722 Federal Register / Vol. 76, No. 163 / Tuesday, August 23, 2011 / Notices 

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

consideration. Information regarding 

how to submit comments and 

documents to PCAST is available at 

http://whitehouse.gov/ostp/pcast in the 

section entitled ‘‘Connect with PCAST.’’ 

Please note that because PCAST 

operates under the provisions of FACA, 

all public comments and/or 

presentations will be treated as public 

documents and will be made available 

for public inspection, including being 

posted on the PCAST Web site. 

FOR FURTHER INFORMATION CONTACT: 

Information regarding the meeting 

agenda, time, location, and how to 

register for the meeting is available on 

the PCAST Web site at: http:// 

whitehouse.gov/ostp/pcast. A live video 

Webcast and an archive of the Webcast 

after the event are expected to be 

available at http://whitehouse.gov/ostp/ 

pcast. The archived video will be 

available within one week of the 

meeting. Questions about the meeting 

should be directed to Dr. Deborah D. 

Stine, PCAST Executive Director, at 

dstine@ostp.eop.gov, (202) 456–6006. 

Please note that public seating for this 

meeting is limited and is available on a 

first-come, first-served basis. 

SUPPLEMENTARY INFORMATION: The 

President’s Council of Advisors on 

Science and Technology (PCAST) is an 

advisory group of the nation’s leading 

scientists and engineers, appointed by 

the President to augment the science 

and technology advice available to him 

from inside the White House and from 

cabinet departments and other Federal 

agencies. See the Executive Order at 

http://www.whitehouse.gov/ostp/pcast. 

PCAST is consulted about and provides 

analyses and recommendations 

concerning a wide range of issues where 

understandings from the domains of 

science, technology, and innovation 

may bear on the policy choices before 

the President. PCAST is administered 

by the Office of Science and Technology 

Policy (OSTP). PCAST is co-chaired by 

Dr. John P. Holdren, Assistant to the 

President for Science and Technology, 

and Director, Office of Science and 

Technology Policy, Executive Office of 

the President, The White House; and Dr. 

Eric S. Lander, President, Broad 

Institute of MIT and Harvard. 

Meeting Accommodations: 

Individuals requiring special 

accommodation to access this public 

meeting should contact Dr. Stine at least 

ten business days prior to the meeting 

so that appropriate arrangements can be 

made. 

Ted Wackler, 

Deputy Chief of Staff. 

[FR Doc. 2011–21422 Filed 8–22–11; 8:45 am] 

BILLING CODE P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold a Closed Meeting 

on Thursday, August 25, 2011 at 2 p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (5), (7), 9(ii) 

and (10), permit consideration of the 

scheduled matters at the Closed 

Meeting. 

Commissioner Walter, as duty officer, 

voted to consider the items listed for the 

Closed Meeting in a closed session. 

The subject matter of the Closed 

Meeting scheduled for Thursday, 

August 25, 2011 will be: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; and 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed, please 

contact: 

The Office of the Secretary at (202) 

551–5400. 

Dated: August 18, 2011. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–21583 Filed 8–19–11; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–65147; File No. SR–CBOE– 

2011–075] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Certain 

Registration and Qualification 

Requirements 

August 17, 2011. 

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

Securities Exchange Act of 1934, 15 

U.S.C. 78s(b)(1), notice is hereby given 

that on August 4, 2011, Chicago Board 

Options Exchange, Incorporated 

(‘‘CBOE’’ or the ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by CBOE. 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 

Pursuant to the provisions of Section 

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

of 1934 (the ‘‘Act’’),1 the Chicago Board 

Options Exchange, Incorporated 

(‘‘CBOE’’ or the ‘‘Exchange’’) proposes 

to amend its rules regarding registration 

and qualification of individual Trading 

Permit Holders and individual 

associated persons. The text of the 

proposed rule change is availableon 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 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, Proposed Rule 

Change 

1. Purpose 

CBOE is proposing to amend 

Exchange Rule 3.6A to (i) exempt from 

registration and qualification individual 

associated persons that are restricted 

from accessing the Exchange (physically 

and electronically) and that do not 

engage in the securities business of the 

Trading Permit Holder or TPH 

organization related to activity that 

occurs at the Exchange; and (ii) adopt 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 76, No. 163 / Tuesday, August 23, 2011 / Notices 52723 

2 17 CFR 240.15b7–1. 

3 15 U.S.C. 78a et seq. 

4See Securities Exchange Act Release No. 63314 

(November 12, 2010), 75 FR 70957 (November 19, 

2010) (SR–CBOE–2010–084). 

5Even if an individual associated person is 

exempt from registration with the CBOE under Rule 

3.6A, Rule 17.1 provides, in relevant part, ‘‘A 

Trading Permit Holder or a person associated with 

a Trading Permit Holder * * * shall be subject to 

the disciplinary jurisdiction of the Exchange.’’ 

6The Series 23 is designed to test a candidate’s 

knowledge of the rules and statutory provisions 

applicable to the management of a broker-dealer. It 

is CBOE’s understanding that FINRA permits the 

Series 23 as an alternative to the Series 24 for its 

members who are registered as General Securities 

Sales Supervisors and who are seeking to register 

and qualify as General Securities Principals. The 

Series 23 examination covers material from the 

Series 24 examination not otherwise covered under 

the Series 9/10 examination. 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(1). 

9 15 U.S.C. 78f(c)(3). 

language that would eliminate the need 

to formally file a waiver request for the 

appropriate category of registration if 

the individual Trading Permit Holder or 

individual associated person maintains 

a registration(s) in designated categories. 

Pursuant to Rule 15b7–1,2

promulgated under the Exchange Act,3

‘‘No registered broker or dealer shall 

effect any transaction in * * * any 

security unless any natural person 

associated with such broker or dealer 

who effects or is involved in effecting 

such transaction is registered or 

approved in accordance with the 

standards of training, experience, 

competence, and other qualification 

standards * * * established by the rules 

of any national securities exchange 

* * *. CBOE Rule 3.6A sets forth the 

requirements for registration and 

qualification of individual Trading 

Permit Holders and individual 

associated persons. In response to a 

request by the Division of Trading and 

Markets of the Securities and Exchange 

Commission (the ‘‘Commission’’ or 

‘‘SEC’’), CBOE recently amended its 

rules to expand its registration and 

qualification requirements set forth in 

CBOE Rule 3.6A to include individual 

Trading Permit Holders and individual 

associated persons that are engaged or to 

be engaged in the securities business of 

a Trading Permit Holder or TPH 

organization.4 CBOE Rule 3.6A provides 

that these individuals must be registered 

with the Exchange in the category of 

registration appropriate to the function 

to be performed as prescribed by the 

Exchange. Further, Rule 3.6A requires, 

among other things, that an individual 

Trading Permit Holder or individual 

associated person submit an application 

for registration and pass the appropriate 

qualification examination before the 

registration can become effective. The 

revised requirements apply to both 

CBOE and CBOE Stock Exchange 

(‘‘CBSX’’) Trading Permit Holders and 

their associated persons. 

CBOE Rule 3.6A(a)(2) sets forth the 

types of individuals that are exempt 

from registration.5 CBOE is proposing to 

amend this provision to also exempt 

individual associated persons that are 

restricted from accessing the Exchange 

(physically and electronically) and that 

do not engage in the securities business 

of the Trading Permit Holder or TPH 

organization related to activity that 

occurs on the Exchange. CBOE believes 

that these individuals do not need to be 

registered with the Exchange because 

these individuals do not access the 

Exchange directly and do not engage in 

the securities business of the Trading 

Permit Holder relating to activity that 

occurs on the Exchange. For example, 

Firm XYZ (‘‘XYZ’’) is a CBOE TPH 

organization and a member of NYSE 

AMEX, LLC (‘‘AMEX’’). XYZ employs a 

market-maker, ABC, who is an 

associated person of XYZ registered as 

a market-maker with the AMEX (and 

subject to the registration and 

qualification requirements of AMEX). 

ABC would not be required to 

separately register with CBOE if ABC 

(who does not have physical or 

electronic access to CBOE) submits an 

order for execution to Broker DEF, a 

registered broker-dealer and CBOE 

Trading Permit Holder, who executes 

the order at CBOE. Broker DEF is subject 

to the registration requirements of 

CBOE. 

In conjunction with the registration 

requirements established by SR–CBOE– 

2010–084, three new qualification 

examinations became available on June 

20, 2011 in the Central Registration 

Depository system (‘‘WebCRD’’), which 

is operated by the Financial Industry 

Regulatory Authority, Incorporated 

(‘‘FINRA’’). These registration categories 

include the following (the required 

qualification examinations and 

prerequisites, as applicable, associated 

with each registration category are in 

parentheses): PT—Proprietary Trader 

(Series 56), CT—Proprietary Trader 

Compliance Officer (Series 14, Series 56 

prerequisite) and TP—Proprietary 

Trader Principal (Series 24, Series 56 

prerequisite). CBOE is proposing to 

adopt language that would eliminate the 

need to formally file a waiver request for 

the appropriate category of registration 

if the individual Trading Permit Holder 

or individual associated person 

maintains designated registration 

categories. Specifically, CBOE is 

proposing to permit individuals that 

maintain a Series 7 to satisfy the 

qualification component associated with 

registration as a Proprietary Trader. 

Similarly, CBOE is proposing to accept 

the Series 24 (including any prerequisite 

examinations) to satisfy the 

qualification component associated with 

registration as a Proprietary Trader 

Compliance Officer. CBOE is also 

proposing to allow individual Trading 

Permit Holders and/or individual 

associated persons that maintain the 

Series 9/10 and the Series 23 6

(including any prerequisite 

examinations) to satisfy the 

qualification component associated with 

registration as a Proprietary Trader 

Principal. 

CBOE is proposing to limit the time 

period for which an automatic waiver of 

the Series 56 would be granted for those 

individuals that maintain a Series 7 

registration. Any individual seeking an 

automatic waiver of the Series 56 

because they maintain a Series 7 

registration must complete all 

registration requirements in WebCRD 

for the Proprietary Trader designation 

no later than December 31, 2011. In 

addition, CBOE is proposing that 

because the Series 23 is not available in 

WebCRD, each applicant must provide 

documentation of a valid Series 23 

license to the Registration Services 

Department upon request for the Series 

24 registration in WebCRD. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the Act,7

in general, and furthers the objectives of 

Section 6(b)(1) 8 of the Act in particular, 

in that it is designed to enforce 

compliance by Exchange members and 

persons associated with its members 

with the rules of the Exchange. The 

Exchange also believes the proposed 

rule change furthers the objectives of 

Section 6(c)(3) 9 of the Act, which 

authorizes CBOE to prescribe standards 

of training, experience and competence 

for persons associated with CBOE 

Trading Permit Holders, in that this 

filing proposes to amend and clarify the 

registration and qualification 

requirements set forth in Exchange Rule 

3.6A. CBOE believes the proposed 

changes are reasonable and set forth the 

appropriate qualifications for an 

individual Trading Permit Holder and 

individual associated person that is 

required to register under Exchange 

Rule 3.6A, including, but not limited to, 

Market-Makers, proprietary traders and 

individuals effecting transactions on 

behalf of other broker-dealers. 

mstockstill on DSK4VPTVN1PROD with NOTICES

52724 Federal Register / Vol. 76, No. 163 / Tuesday, August 23, 2011 / Notices 

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

11 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 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. 12 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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 that is not 

necessary or appropriate in furtherance 

of 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 solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission 

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; and (iii) become 

operative for 30 days after the date of 

the filing, or such shorter time as the 

Commission may designate, it has 

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

of the Act 10 and Rule 19b–4(f)(6) 11

thereunder. 

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. 

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–2011–075 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–2011–075. 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 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 publicly available. All 

submissions should refer to File 

Number SR–CBOE–2011–075 and 

should be submitted on or before 

September 13, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–21465 Filed 8–22–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–65094; File No. SR– 

NASDAQ–2011–115] 

Self-Regulatory Organizations; the 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Extend the 

Pilot Period of the Trading Pause for 

NMS Stocks 

August 10, 2011. 

Correction 

In notice document 2011–20735 

appearing on pages 50779–50781 in the 

issue of August 16, 2011, make the 

following correction: 

On page 50779, in the second column, 

the File No. in the heading is corrected 

to read as it appears above. 

[FR Doc. C1–2011–20735 Filed 8–22–11; 8:45 am] 

BILLING CODE 1505–01–D 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–65158; File No. SR–MSRB– 

2011–11] 

Self-Regulatory Organizations; 

Municipal Securities Rulemaking 

Board; Notice of Filing of Amendments 

to Rule A–3, on Membership on the 

Board 

August 18, 2011. 

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 August 

11, 2011, the Municipal Securities 

Rulemaking Board (‘‘Board’’ or 

‘‘MSRB’’) 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 MSRB. 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 MSRB is filing with the SEC a 

proposed rule change consisting of 

amendments to Rule A–3, on 

membership on the Board, in order to 

establish a permanent Board structure of 

21 Board members divided into three 

classes, each class being comprised of 

seven members who would serve three 

year terms. The terms would be 

mstockstill on DSK4VPTVN1PROD with NOTICES