Federal Register / Vol. 77, No. 95 / Wednesday, May 16, 2012 / Notices 28921 

24See NYSE Arca Equities Rule 7.45(d)(2). 

25See NYSE Arca Equities Rule 7.45(d)(3). 

26See NYSE Arca Equities Rule 7.45(d)(3)(A). 

27See NYSE Arca Equities Rule 7.45(d)(3)(B). 

28See, e.g., Securities Exchange Act Release No. 

65455, 76 FR at 62120, n.16 and accompanying text. 

29See NYSE Arca Equities Rule 7.45(d)(4). 

30 15 U.S.C. 78s(b)(2). 

31 17 CFR 200.30–3(a)(12). 

positions through the use of an error 

account maintained by Arca Securities 

pursuant to the procedures set forth in 

the rule, and as described above, is 

consistent with the Act. The 

Commission notes that the rule 

establishes criteria for determining 

which positions are error positions,24

and that NYSE Arca or Arca Securities, 

in connection with a particular 

technical or systems issue, will be 

required to either (i) assign all resulting 

error positions to ETP Holders or (ii) 

have all resulting error positions 

liquidated.25 Also, NYSE Arca or Arca 

Securities will assign error positions 

that result from a particular technical or 

systems issue to ETP Holders only if all 

such error positions can be assigned to 

all of the ETP Holders affected by that 

technical or systems issue.26 If NYSE 

Arca or Arca Securities cannot assign all 

error positions to all ETP Holders, Arca 

Securities will liquidate all of those 

error positions.27 In this regard, the 

Commission believes that the new rule 

appears reasonably designed to further 

just and equitable principles of trade 

and the protection of investors and the 

public interest, and to help prevent 

unfair discrimination, in that it should 

help assure the handling of error 

positions will be based on clear and 

objective criteria, and that the resolution 

of those positions will occur promptly 

through a transparent process. 

Additionally, the Commission notes 

that it has previously expressed concern 

about the potential for unfair 

competition and conflicts of interest 

between an exchange’s self-regulatory 

obligations and its commercial interest 

when the exchange is affiliated with one 

of its members.28 The Commission is 

also concerned about the potential for 

misuse of confidential and proprietary 

information. The Commission believes 

that the requirement that Arca 

Securities provide complete time and 

price discretion for the liquidation of 

error positions to a third-party brokerdealer, including that Arca Securities 

not attempt to exercise any influence or 

control over the timing or methods of 

such trading, combined with the 

requirement that the Exchange establish 

and enforce policies and procedures 

that are reasonably designed to restrict 

the flow of confidential and proprietary 

information to the third-party routing 

broker liquidating such positions, 

should help mitigate the Commission’s 

concerns. In particular, the Commission 

believes that these requirements should 

help assure that none of the Exchange, 

Arca Securities, or the third-party 

broker-dealer is able to misuse 

confidential or proprietary information 

obtained in connection with the 

liquidation of error positions for its own 

benefit. 

Finally, the Commission notes that 

NYSE Arca and Arca Securities would 

be required to make and keep records to 

document all determinations to treat 

positions as error positions; all 

determinations to assign error positions 

to ETP Holders or liquidate error 

positions; and the liquidation of error 

positions through the third-party brokerdealer.29

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,30 that the 

proposed rule change (SR–NYSEArca– 

2012–22) be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.31

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–11797 Filed 5–15–12; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 7885] 

30-Day Notice of Proposed Information 

Collection: DS–260, Electronic 

Application for Immigration Visa and 

Alien Registration, 1405–0185 

ACTION: Notice of request for public 

comment and submission to OMB of 

proposed collection of information. 

SUMMARY: The Department of State has 

submitted the following information 

collection request to the Office of 

Management and Budget (OMB) for 

approval in accordance with the 

Paperwork Reduction Act of 1995. 

• Title of Information Collection: 

Electronic Application for Immigration 

Visa and Alien Registration. 

• OMB Control Number: 1405–0185. 

• Type of Request: Extension. 

• Originating Office: CA/VO/L/R. 

• Form Number: DS–260. 

• Respondents: Immigrant Visa 

Applicants. 

• Estimated Number of Respondents: 

700,000. 

• Estimated Number of Responses: 

700,000. 

• Average Hours per Response: 2 

hours. 

• Total Estimated Burden: 1,400,000. 

• Frequency: Once per Respondent. 

• Obligation to Respond: Required to 

Obtain Benefits. 

DATES: Submit comments to the Office 

of Management and Budget (OMB) for 

up to 30 days from May 16, 2012. 

ADDRESSES: Direct comments to the 

Department of State, Desk Officer in the 

Office of Information and Regulatory 

Affairs at the Office of Management and 

Budget (OMB). You may submit 

comments by the following methods: 

• Email: 

oira_submission@omb.eop.gov. You 

must include the DS form number, 

information collection title, and OMB 

control number in the subject line of 

your message. 

• Fax: 202–395–5806. Attention: Desk 

Officer for Department of State. 

FOR FURTHER INFORMATION CONTACT: You 

may obtain copies of the proposed 

information collection and supporting 

documents from Sydney Taylor, Visa 

Services, Department of State, 2401 E 

Street NW., L–603, Washington, DC 

20522, at (202) 663–3721. 

SUPPLEMENTARY INFORMATION: We are 

soliciting public comments to permit 

the Department to: 

• Evaluate whether the proposed 

information collection is necessary to 

properly perform our functions. 

• Evaluate the accuracy of our 

estimate of the burden of the proposed 

collection, including the validity of the 

methodology and assumptions used. 

• Enhance the quality, utility, and 

clarity of the information to be 

collected. 

• Minimize the reporting burden on 

those who are to respond. 

Abstract of proposed collection: 

Form DS–260 will be used to elicit 

information to determine the eligibility 

of aliens applying for immigrant visas. 

Methodology: 

The DS–260 will be submitted 

electronically to the Department via the 

Internet. The applicant will be 

instructed to print a confirmation page 

containing a 2–D bar code record 

locator, which will be scanned at the 

time of adjudication. Applicants who 

submit the electronic application will 

no longer submit paper-based 

applications to the Department. 

Dated: May 4, 2012. 

David T. Donahue, 

Deputy Assistant Secretary, Bureau of 

Consular Affairs, Department of State. 

[FR Doc. 2012–11861 Filed 5–15–12; 8:45 am] 

BILLING CODE 4710–06–P 


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