Federal Register / Vol. 77, No. 11 / Wednesday, January 18, 2012 / Notices 2597 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3A Member is any registered broker or dealer, or 

any person associated with a registered broker or 

dealer, that has been admitted to membership in the 

Exchange. 

provide additional flexibility for TPHs 

to obtain executions on behalf of their 

customers while continuing to provide 

meaningful, competitive Auctions. The 

Exchange also believes that that 

proposed rule change will ultimately 

enhance competition in the AIM 

Auctions and provide customers with 

additional opportunities for price 

improvement. These changes are 

consistent with changes made by other 

exchanges and they serve to remove 

impediments to and to perfect the 

mechanism for a free and open market 

and a national market system. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

C2 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 solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

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 

organization consents, the Commission 

will: 

(A) By order approve or disapprove 

such 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, 

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 email to rulecomments@sec.gov. Please include File 

Number SR–C2–2011–043 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–C2–2011–043. This file 

number should be included on the 

subject line if email 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. 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–C2–2011–043, and should 

be submitted on or before February 8, 

2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–771 Filed 1–17–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66129; File No. SR–EDGX– 

2011–39] 

Self-Regulatory Organizations; EDGX 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to Amendments 

to the EDGX Exchange, Inc. Fee 

Schedule 

January 11, 2012. 

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 December 

30, 2011, the EDGX Exchange, Inc. (the 

‘‘Exchange’’ or the ‘‘EDGX’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which items 

have been prepared by the selfregulatory organization. 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 

EDGX Exchange, Inc. (‘‘EDGX’’ or the 

‘‘Exchange’’), proposes to amend its fees 

and rebates applicable to Members 3 of 

the Exchange pursuant to EDGX Rule 

15.1(a) and (c). Text of the proposed 

rule change is attached as Exhibit 5. 

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 

self-regulatory organization 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 self-regulatory organization 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 

Purpose 

The Exchange proposes to amend its 

fee schedule to add footnote b to it to 


tkelley on DSK3SPTVN1PROD with NOTICES
2598 Federal Register / Vol. 77, No. 11 / Wednesday, January 18, 2012 / Notices 

4 In 2012, these days include July 3, 2012, 

November 23, 2012, and December 24, 2012. 

5 15 U.S.C. 78f. 

6 15 U.S.C. 78f(b)(4). 

7 In 2012, these days include July 3, 2012, 

November 23, 2012, and December 24, 2012. 

8See fee schedules of Nasdaq and NYSE Arca 

found at: http://www.nasdaqtrader.com/ 

Trader.aspx?id=PriceListTrading2; and https:// 

usequities.nyx.com/sites/usequities.nyx.com/files/ 

nyse_arca_marketplace_fees_12_1_2011.pdf 

specify that trading activity on days 

when the market closes early 4 does not 

count toward any volume tiers, which 

are currently found in footnotes 1, 6, 

and 11. 

The Exchange proposes to amend the 

Super Tier to lower the rebate from 

$0.0030 per share to $0.0028 per share. 

The Exchange proposes to amend the 

following tier to lower the rebate to 

$0.0028 per share as well: Members that 

post 0.065% of the TCV in average daily 

volume more than their February 2011 

average daily volume added to EDGX 

will qualify for a $0.0029 per share 

rebate (unless they otherwise qualify for 

a higher rebate) (the ‘‘0.065% TCV 

Tier’’). 

The Exchange proposes to add 

another method to qualify for the Mega 

Tier rebate of $0.0032 per share if 

Members add or route at least 4,000,000 

shares of average daily volume prior to 

9:30 a.m. or after 4 p.m. (includes all 

flags except 6) and adds a minimum of 

.20% of the Total Consolidated Volume 

(TCV) on a daily basis measured 

monthly, including during both market 

hours and/or pre and post-trading 

hours. 

The Exchange proposes to implement 

these amendments to its fee schedule on 

January 1, 2012. 

Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the objectives of Section 6 of the 

Exchange Act,5 in general, and furthers 

the objectives of Section 6(b)(4),6 in 

particular, as it is designed to provide 

for the equitable allocation of reasonable 

dues, fees and other charges among its 

members and other persons using its 

facilities. 

The Exchange proposes to amend its 

schedule to add footnote b to specify 

that trading activity on days when the 

market closes early does not count 

toward volume tiers (footnotes 1, 6, and 

11). Since the Exchange is only open 

until 1PM Eastern Time (‘‘ET’’) on these 

days (e.g., the day after Thanksgiving),7

the Exchange believes that counting 

volume on these days towards the tiers 

would not be illustrative of typical 

market activity or liquidity provision, 

since the trading day is shortened. 

Therefore, the Exchange proposes to 

exclude such shortened trading days 

from any volume tier calculations, as 

presently found in footnotes numbers 1, 

6, and 11. The Exchange believes that 

the proposed amendment is nondiscriminatory in that it applies 

uniformly to all Members and would 

more accurately represent their trading 

volume. In addition, the proposed 

amendment is in accordance with the 

practices employed by other 

Exchanges.8

The reduction in rebate of the Super 

Tier from $0.0030 per share to $0.0028 

per share is an equitable allocation of 

reasonable dues, fees, and other charges 

as the additional revenue that results 

from the lower rebate enables the 

Exchange to cover increased 

infrastructure and administrative 

expenses. In addition, when the 

Exchange lowered its removal rate from 

$0.0030 per share to $0.0029 per share 

(October 2012), a more significant 

percentage of EDGX members achieved 

inverted rates, where the rebate paid to 

Members for adding liquidity was more 

than the removal rate of $0.0029 per 

share. Given this result, and since the 

Super Tier has less stringent criteria 

than either the Mega Tier or Ultra Tier, 

the Exchange is proposing to moderate 

the rate and decrease the rebate so that 

the maker/taker spread is no longer 

inverted for such a large percentage of 

Members. 

The Exchange believes that the 

reduced rebate for the Super Tier and 

the alternative criteria to qualify for the 

Mega Tier rebate of $0.0032 per share 

also represents an equitable allocation 

of reasonable dues, fees, and other 

charges since higher rebates are directly 

correlated with more stringent criteria. 

The Mega Tier rebates of $0.0034/ 

$0.0032 per share have the most 

stringent criteria associated with them, 

and are $0.0003/$0.0001 greater than 

the Ultra Tier rebate ($0.0031 per share) 

and $0.0006/$0.0004 greater than the 

proposed Super Tier rebate ($0.0028 per 

share). 

For example, in order for a Member to 

qualify for the Mega Tier rebate of 

$0.0034, the Member would have to add 

or route at least 4,000,000 shares of 

average daily volume during pre and 

post-trading hours and add a minimum 

of 20,000,000 shares of average daily 

volume on EDGX in total, including 

during both market hours and pre and 

post-trading hours. The criteria for this 

tier is the most stringent as fewer 

Members generally trade during pre and 

post-trading hours because of the 

limited time parameters associated with 

these trading sessions. The Exchange 

believes that this higher rebate awarded 

to Members would incent liquidity 

during these trading sessions. Such 

increased volume increases potential 

revenue to the Exchange, and would 

allow the Exchange to spread its 

administrative and infrastructure costs 

over a greater number of shares, leading 

to lower per share costs. These lower 

per share costs would allow the 

Exchange to pass on the savings to 

Members in the form of a higher rebate. 

Another way a Member can qualify 

for the Mega Tier (with a rebate of 

$0.0032 per share) would be to post 

0.75% of TCV. Based on average TCV 

for November 2011 (8.0 billion), this 

would be 60 million shares on EDGX. A 

second method to qualify for the rebate 

of $0.0032 per share would be to post 

0.12% of the TCV (9.6 million shares) 

more than the Member’s February 2011 

average daily volume added to EDGX. 

Assuming the Member’s February 2011 

ADV is 1 million shares, the Exchange 

believes that requiring Members to post 

10.6 million more shares than a 

February 2011 baseline average daily 

volume encourages Members to add 

increasing amounts of liquidity to EDGX 

each month. Such increased volume 

increases potential revenue to the 

Exchange, and would allow the 

Exchange to spread its administrative 

and infrastructure costs over a greater 

number of shares, leading to lower per 

share costs. These lower per share costs 

would allow the Exchange to pass on 

the savings to Members in the form of 

a higher rebate. The increased liquidity 

also benefits all investors by deepening 

EDGX’s liquidity pool, offering 

additional flexibility for all investors to 

enjoy cost savings, supporting the 

quality of price discovery, promoting 

market transparency and improving 

investor protection. Volume-based 

rebates such as the one proposed herein 

have been widely adopted in the cash 

equities markets, and are equitable 

because they are open to all members on 

an equal basis and provide discounts 

that are reasonably related to the value 

to an exchange’s market quality 

associated with higher levels of market 

activity, such as higher levels of 

liquidity provision and introduction of 

higher volumes of orders into the price 

and volume discovery processes. 

In order to qualify for the proposed 

Mega Tier rebate of $0.0032 per share, 

a Member would have to add or route 

at least 4,000,000 shares of average daily 

volume prior to 9:30 a.m. or after 4 p.m. 

(includes all flags except 6) and add a 

minimum of .20% of the Total 

Consolidated Volume (‘‘TCV’’) on a 

daily basis measured monthly, 

including during both market hours 

and/or pre and post-trading hours. 


tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 11 / Wednesday, January 18, 2012 / Notices 2599 

9See discussion in next paragraph regarding Ultra 

Tier. 

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

11 17 CFR 19b–4(f)(2). 

Based on an average TCV for November 

2011 (8.0 billion shares), a Member 

would qualify by adding 16 million 

shares during both market hours and/or 

pre and post-trading hours and adding 

or routing at least 4,000,000 shares of 

average daily volume during pre and 

post-trading hours. The Exchange notes 

that fewer Members generally trade 

during pre and post-trading hours 

because of the limited time parameters 

associated with these trading sessions. 

Therefore, the amount of shares that the 

Exchange requires to be added or routed 

to satisfy this tier is less than for the 

Ultra Tier,9 for example, which is based 

on posting liquidity to EDGX during 

regular trading hours. The Exchange 

believes that this higher rebate awarded 

to Members would incent liquidity 

during these trading sessions. Such 

increased volume increases potential 

revenue to the Exchange, and would 

allow the Exchange to spread its 

administrative and infrastructure costs 

over a greater number of shares, leading 

to lower per share costs. These lower 

per share costs would allow the 

Exchange to pass on the savings to 

Members in the form of a higher rebate. 

The Exchange believes that the 

proposed amendment is nondiscriminatory in that it applies 

uniformly to all Members. 

In order to qualify for the Ultra Tier, 

which has less stringent criteria than the 

Mega Tier, the Member would have to 

post 0.50% of TCV. Based on average 

TCV for November 2011 (8.0 billion 

shares), this would be 40 million shares 

on EDGX. 

Finally, the Super Tier has the least 

stringent criteria of the tiers mentioned 

above. In order for a Member to qualify 

for this rebate, the Member would have 

to post at least 10 million shares on 

EDGX and would qualify for the 

amended rebate of $0.0028 per share. As 

stated above, these rebates also result, in 

part, from lower administrative and 

other costs associated with higher 

volume. The reduction in rebate would 

allow the Exchange to recoup additional 

revenue to recover increased 

infrastructure and administrative 

expenses. This rebate also results, in 

part, from lower administrative and 

other costs associated with higher 

volume. The Exchange believes that the 

proposed amendment is nondiscriminatory in that it applies 

uniformly to all Members. 

The reduction in rebate of the 0.065% 

TCV Tier from $0.0030 per share to 

$0.0028 per share is an equitable 

allocation of reasonable dues, fees, and 

other charges as the additional revenue 

that results from the lower rebate 

enables the Exchange to cover increased 

infrastructure and administrative 

expenses. This tier allows Members 

even greater flexibility with respect to 

achieving an additional rebate and 

rewards growth patterns in volume by 

Members as this rebate’s conditions 

encourage Members to add increasing 

amounts of liquidity to EDGX each 

month. Based on an average daily 

volume in February 2011 (baseline) of 

1,000,000 shares, the Member would 

have to add 6.2 million shares total to 

qualify for such rebate. This rebate also 

results, in part, from lower 

administrative and other costs 

associated with higher volume. The 

Exchange believes that the proposed 

amendment is non-discriminatory in 

that it applies uniformly to all Members. 

The Exchange also notes that it 

operates in a highly competitive market 

in which market participants can 

readily direct order flow to competing 

venues if they deem fee levels at a 

particular venue to be excessive. The 

proposed rule change reflects a 

competitive pricing structure designed 

to incent market participants to direct 

their order flow to the Exchange. The 

Exchange believes that the proposed 

rates are equitable and nondiscriminatory in that they apply 

uniformly to all Members. The 

Exchange believes the fees and credits 

remain competitive with those charged 

by other venues and therefore continue 

to be reasonable and equitably allocated 

to Members. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule change does not 

impose 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 

The Exchange has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any 

unsolicited written comments from 

members or other interested parties. 

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) of 

the Act 10 and Rule 19b–4(f)(2) 11

thereunder. At any time within 60 days 

of the filing of such 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 email to rulecomments@sec.gov. Please include File 

Number SR–EDGX–2011–39 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–EDGX–2011–39. This file 

number should be included on the 

subject line if email 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 the 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 


tkelley on DSK3SPTVN1PROD with NOTICES
2600 Federal Register / Vol. 77, No. 11 / Wednesday, January 18, 2012 / Notices 

12 17 CFR 200.30–3(a)(12). 

available publicly. All submissions 

should refer to File Number SR–EDGX– 

2011–39 and should be submitted on or 

before February 8, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–769 Filed 1–17–12; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #12984 and #12985] 

Massachusetts Disaster #MA–00046 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of Massachusetts (FEMA– 

4051–DR), dated 01/06/2012. 

Incident: Severe Storm and 

Snowstorm. 

Incident Period: 10/29/2011 through 

10/30/2011. 

Effective Date: 01/06/2012. 

Physical Loan Application Deadline 

Date: 03/06/2012. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 10/09/2012. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW., Suite 6050, 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

01/06/2012, Private Non-Profit 

organizations that provide essential 

services of governmental nature may file 

disaster loan applications at the address 

listed above or other locally announced 

locations. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties: Berkshire, Franklin, 

Hampden, Hampshire, Middlesex, 

Worcester. 

The Interest Rates are: 

Percent 

For Physical Damage: 

Percent 

Non-Profit Organizations With 

Credit Available Elsewhere ... 3.125. 

Non-Profit Organizations Without Credit Available Elsewhere ..................................... 3.000. 

For Economic Injury: 

Non-Profit Organizations Without Credit Available Elsewhere ..................................... 3.000. 

The number assigned to this disaster 

for physical damage is 12984B and for 

economic injury is 12985B. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

James E. Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2012–863 Filed 1–17–12; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

Revocation of License of Small 

Business Investment Company 

Pursuant to the authority granted to 

the United States Small Business 

Administration by the Wind-Up Order 

of the United States District Court for 

the Northern District of California, dated 

July 30, 2010, the United States Small 

Business Administration hereby revokes 

the license of AltoTech II, L.P., a 

California Limited Partnership, to 

function as a small business investment 

company under the Small Business 

Investment Company License No. 

09790431 issued to AltoTech II, L.P. on 

December 04, 2000 and said license is 

hereby declared null and void as of July 

30, 2010. 

United States Small Business 

Administration. 

Dated: October 24, 2011. 

Sean J. Greene, 

Associate Administrator for Investment. 

[FR Doc. 2012–882 Filed 1–17–12; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

Surrender of License of Small 

Business Investment Company 

Pursuant to the authority granted to 

the United States Small Business 

Administration under the Small 

Business Investment Act of 1958, under 

Section 309 of the Act and Section 

107.1900 of the Small Business 

Administration Rules and Regulations 

(13 CFR 107.1900) to function as a small 

business investment company under the 

Small Business Investment Company 

License No. 01/71–0390 issued to 

RockPort Capital Partners, LP and said 

license is hereby declared null and void. 

Dated: October 27, 2011. 

Sean J. Greene, 

Associate Administrator for Investment. 

[FR Doc. 2012–852 Filed 1–17–12; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

Surrender of License of Small 

Business Investment Company 

Pursuant to the authority granted to 

the United States Small Business 

Administration under the Small 

Business Investment Act of 1958, under 

Section 309 of the Act and Section 

107.1900 of the Small Business 

Administration Rules and Regulations 

(13 CFR 107.1900) to function as a small 

business investment company under the 

Small Business Investment Company 

License No. 01/71–0392 issued to 

Venture Capital Fund of New England 

IV, LP and said license is hereby 

declared null and void. 

United States Small Business 

Administration. 

Dated: September 15, 2011. 

Sean J. Greene, 

AA/Investment. 

[FR Doc. 2012–853 Filed 1–17–12; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

Surrender of License of Small 

Business Investment Company 

Pursuant to the authority granted to 

the United States Small Business 

Administration under the Small 

Business Investment Act of 1958, under 

Section 309 of the Act and Section 

107.1900 of the Small Business 

Administration Rules and Regulations 

(13 CFR 107.1900) to function as a small 

business investment company under the 

Small Business Investment Company 

License No. 05/75–0220 issued to Piper 

Jaffray Healthcare Capital, L.P., and said 

license is hereby declared null and void. 

United States Small Business 

Administration. 

Dated: October 27, 2011. 

Sean J. Greene, 

Associate Administrator for Investment. 

[FR Doc. 2012–861 Filed 1–17–12; 8:45 am] 

BILLING CODE 8025–01–P 


tkelley on DSK3SPTVN1PROD with NOTICES