64434 Federal Register / Vol. 62, No. 234 / Friday, December 5, 1997 / Notices

45NASD Regulation consents to an extension of

the time projects specified in Section 19(b)(2) of the

Act until the SEC is prepared to approve NASD

Regulation’s yet-to-be-filed rule filing proposing to

amend Rule 310(f) to revise the requirements for

customer predispute arbitration agreements used by

members. NASD Regulation intends to amend the

rules governing customer predispute arbitration

agreements to give effect to the punitive damages

rule proposed herein and the eligibility rule

proposed in SR–NASD–97–44. The purpose of the

extension is to permit the SEC to act simultaneously

on this rule filing, the yet-to-be-filed rule filing

proposing to amend Rule 3110(f), and the eligibility

rule proposed in SR–NASD–97–44.

46 15 U.S.C. 78o3(b)(6). 1 17 CFR 240.9b–1.

2See Securities Exchange Act Release No. 39244

(October 15, 1997) (order approving proposed rule

change by the Chicago Board Options Exchange,

Incorporated, relating to the listing and trading of

options on the Lipper Analytical/Salomon Brothers

Growth and Growth & Income Fund Indexes).

3This provision is intended to permit the

Commission either to accelerate or extend the time

period in which definitive copies of a disclosure

document may be distributed to the public.

4 17 CFR 240.9b–1.

5 17 CFR 200.30–3 (a)(39).

has the discretion to grant or deny the

request.

All newly approved NASD arbitrators

who have not presided at a hearing are

required to attend a training program,

which includes information on the

awarding of punitive damages. If the

proposed rule change is approved,

Office of Dispute Resolution staff will

make appropriate changes to the

arbitrator training and education

materials to reflect the requirements of

the new rule.

NASD Regulation is requesting that

the proposed rule change be effective

within 45 days of SEC approval.45

2. Statutory Basis

NASD Regulation believes that the

proposed rule change is consistent with

the provisions of Section 15A(b)(6) of

the Act 46 in that it will promote just

and equitable principles of trade by

providing an additional remedy for

wrongdoing by broker/dealers and their

associated persons, and it will protect

investors and the public interest by

clarifying that punitive damages are

available in the NASD Regulation

arbitration forum, where they would be

available under relevant state law for

similar court proceedings.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The NASD does not believe that the

proposed rule change will impose any

inappropriate burden on competition.

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

Within 35 days of the 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 organizations

consents, the Commission will:

(A) by order approve the 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.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. 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 at

the Commission’s Public Reference

Room. Copies of such filing will also be

available for inspection and copying at

the principal office of the NASD. All

submissions should refer to File No.

SR–NASD–97–47 and should be

submitted by December 29, 1997.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–31877 Filed 12–4–97; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–39365; File No. SR–ODD–

97–2]

Self-Regulatory Organizations; The

Options Clearing Corporation; Order

Granting Accelerated Approval of

Proposed Supplement to Options

Disclosure Document Regarding

Mutual Fund Index Options

November 26, 1997.

On November 13, 1997, The Options

Clearing Corporation (‘‘OCC’’) submitted

to the Securities and Exchange

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

pursuant to Rule 9b–1 under the

Securities Exchange Act of 1934

(‘‘Act’’),1 five definitive copies of a

Supplement to its options disclosure

document (‘‘ODD’’), which describes,

among other things, the risks and

characteristics of trading in options on

mutual fund indexes.

The Commission has approved an

options exchange proposal to list and

trade options on particular mutual fund

indexes.2 OCC now proposes this

Supplement, which is to be read in

conjunction with the more general ODD

entitled ‘‘Characteristics and Risks of

Standardized Options,’’ that provides

disclosures to specifically accommodate

the introduction of mutual fund index

options and to reflect current rules of

options markets on which mutual fund

index options are approved for trading.

Pursuant to Rule 9b–1, the Supplement

will have to be provided to investors in

mutual fund index options whose

account is approved for trading

standardized options.

The Commission has reviewed the

ODD Supplement and finds that it

complies with Rule 9b–1 under the Act.

The Supplement is intended to be read

in conjunction with the ODD, which

discusses the characteristics and risks of

options generally. The Supplement

provides additional information

regarding mutual fund index options

sufficient to further describe the special

characteristics and risks of these

products.

Rule 9b–1 provides that an options

market must file five preliminary copies

of an amended ODD with the

Commission at least 30 days prior to the

date definitive copies of the ODD are

furnished to customers, unless the

Commission determines otherwise,

having due regard to the adequacy of

information disclosed and the

protection of investors.3 The

Commission has reviewed the

Supplement, and finds that it is

consistent with the protection of

investors and in the public interest to

allow the distribution of the

Supplement as of the date of this order.

It is therefore ordered, pursuant to

Rule 9b–1 under the Act,4 that the

proposed Supplement (SR–ODD–97–2)

regarding mutual fund index options is

approved, on an accelerated basis.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.5
Federal Register / Vol. 62, No. 234 / Friday, December 5, 1997 / Notices 64435

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–31842 Filed 12–4–97; 8:45 am]

BILLING CODE 8010–01–M

SOCIAL SECURITY ADMINISTRATION

Agency Information Collection

Activities: Proposed Collection

Requests

This notice lists information

collection packages that will require

submission to the Office of Management

and Budget (OMB), in compliance with

Pub. L. 104–13 effective October 1,

1995, The Paperwork Reduction Act of

1995.

Work Incapacitation and

Reintegration Study—0960–0543. The

purpose of this study is to identify those

incentives and interventions that are

most successful in assisting persons

who are disabled due to a back

condition to return to work. The

information collected will be used

primarily to complete a cross-national

analysis of this issue. Data will also be

gathered on subjects of particular

importance in the U.S. The findings will

provide policy-makers with information

that will be highly useful in establishing

disability policy. The respondents are

persons entitled to Social Security

Disability Insurance, Supplemental

Security Income or State Temporary

Disability Insurance benefits due to a

back condition.

Number of Respondents: 800.

Frequency of Response: 1.

Average Burden Per Response: 1 hour.

Estimated Annual Burden: 800 hours.

Written comments and

recommendations regarding the

information collection(s) should be sent

within 60 days from the date of this

publication, directly to the SSA Reports

Clearance Officer at the following

address: Social Security Administration,

DCFAM, Attn: Nicholas E. Tagliareni,

6401 Security Blvd., 1–A–21 Operations

Bldg., Baltimore, MD 21235.

In addition to your comments on the

accuracy of the agency’s burden

estimate, we are soliciting comments on

the need for the information; its

practical utility; ways to enhance its

quality, utility and clarity; and on ways

to minimize burden on respondents,

including the use of automated

collection techniques or other forms of

information technology.

To receive a copy of any of the forms

or clearance packages, call the SSA

Reports Clearance Officer on (410) 965–

4125 or write to him at the address

listed above.

Dated: December 1, 1997.

Nicholas E. Tagliareni,

Reports Clearance Officer, Social Security

Administration.

[FR Doc. 97–31864 Filed 12–4–97; 8:45 am]

BILLING CODE 4190–29–P

TENNESSEE VALLEY AUTHORITY

Sunshine Act Meeting

AGENCY HOLDING THE MEETING: Tennessee

Valley Authority (Meeting No. 1499).

TIME AND DATE: 9 a.m. (EST), December

9, 1997.

PLACE: Cocke County High School

Auditorium, 216 Hedrick Drive,

Newport, Tennessee.

STATUS: Open.

Agenda

Approval of minutes of meeting held

on October 15, 1997.

New Business

B—Purchase Awards

B1. Contract with Motion Industries,

Inc., for mechanical drive parts and

bearings for use at all TVA

locations.

B2. Increase in Blanket Purchase Order

No. 96P1E–186526 with Hydro

Group, Inc., for post tensioning

services at Chickamauga Lock and

Fontana Dam.

C—Energy

C1. Delegation of authority to the

Executive Vice President, or a

designated representative, to enter

into an agreement with the

Metropolitan Government of

Davidson County for the assignment

to TVA of various environmental

credits to be included with the

purchase of electric power from the

Bordeaux Landfill Gas Project.

E—Real Property Transactions

E1. Public auction of 0.06 acre of the

Browns Ferry Nuclear Plant

property to resolve an

encroachment by a private

residence, Tract No. XBFSP–1.

E2. Modification of a permanent

easement affecting approximately

0.92 acre at the Cadiz Primary

Substation, to allow the City of

Cadiz, Kentucky, to construct a

police station, jail, offices, and

other buildings needed for city

operations, Tract No. XCADSSA–

1E.

E3. Grant of a permanent easement to

the Warren County Water District

for a sewerline easement over

approximately 0.29 acre of TVA’s

new Bowling Green, Kentucky,

Customer Service Center property,

Tract No. XTBCSC–1S.

E4. Abandonment of easement rights

affecting approximately 19.5 acres

of Shelby Substation railroad spur

track right-of-way, Shelby and

Tipton Counties, Tennessee, Tract

Nos. SSRR–1,–2,–3,–4,–5,–6,–7,–

7A, and –8.

E5. Sale of noncommercial,

nonexclusive permanent easement

to R. Todd Tiller affecting 0.06 acre

of Tellico Lake shoreline in Monroe

County, Tennessee, Tract No.

XTELR–199RE.

E6. Grant of a permanent easement to

Hamilton County, Tennessee, for a

wastewater pump station and

access road affecting 0.22 acre of

land on Chickamauga Lake, Tract

No. XTCR–193PS.

E7. Deed modification to allow

residential development by Harbor

Lights Marina on 11.23 acres of

former TVA land on Chickamauga

Lake, Hamilton County, Tennessee,

Tract No. XCR–67.

Unclassified

F1. Approval to file condemnation cases

in connection with the following

power transmission line: Spring

City Flood Damage Reduction

Project, Rhea County, Tennessee,

Tract No. SCFP–72.

Information Items

1. Approval for the issuance, exchange,

and sale of TVA Power Bonds.

2. Approval relating to the sale of

options to enter into interest rate

swap arrangements (‘‘Options’’)

associated with call provisions on

previously issued TVA Power

Bonds.

3. Extension of the program offering

incentives for TVA employees and

retirees to purchase efficient

electric appliances for their homes

(Buy Electric Program).

4. Approval for the sale of TVA Power

Bonds and authorization and

delegation of authority to enter into

currency swap arrangements with

Merrill Lynch Derivative Products.

5. Filing of condemnation cases along

the Freeport-Miller Transmission

Line in DeSoto County, Mississippi.

6. Research and Development

Agreement with Pure Energy

Corporation and delegation of

authority to the Executive Vice

President, Resource Group, or a

designated representative, to take

the necessary actions to implement

the agreement.

7. Contract with Bloomberg, L.P., for

TVA to receive financial data.