20870 Federal Register / Vol. 77, No. 67 / Friday, April 6, 2012 / Notices 

10 15 U.S.C. 78s(b)(2). 

11 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a et seq. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 66462 

(February 24, 2012), 77 FR 12626 (March 1, 2012) 

(‘‘Notice’’). 

5 15 U.S.C. 78f(b). 

6 15 U.S.C. 78f(b)(5). 

7Notice, 77 FR at 12628. 

8 Id. 

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

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,10 that the 

proposed rule change (SR–NYSEAMEX– 

2012–12) be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2012–8260 Filed 4–5–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66709; File No. SR–NYSE– 

2012–06] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Order 

Approving a Proposed Rule Change 

Amending the Definition of Approved 

Person To Exclude Foreign Affiliates, 

Eliminating the Application Process for 

Approved Persons, and Making 

Related Technical and Conforming 

Changes 

April 2, 2012. 

I. Introduction 

On February 14, 2012, New York 

Stock Exchange LLC (‘‘NYSE’’ or the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

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

of 1934 (‘‘Act’’) 2 and Rule 19b–4 

thereunder,3 a proposed rule change to 

amend the definition of approved 

person to exclude foreign affiliates, 

eliminate the application process for 

approved persons, and make related 

technical and conforming changes. The 

proposed rule change was published for 

comment in the Federal Register on 

March 1, 2012.4 The Commission 

received no comments on the proposal. 

This order approves the proposed rule 

change. 

II. Description of the Proposed Rule 

Change 

The Exchange proposed to amend the 

definition of ‘‘approved person’’ in 

NYSE Rule 2 to revise the definition of 

which entities are deemed to be under 

‘‘common control’’ with a member 

organization. 

The Exchange proposed several 

additional amendments to its Rules. The 

Exchange proposed to amend 

paragraphs (3) and (4) of NYSE Rule 21 

to provide that a member of the 

Exchange’s Board of Directors or an 

authorized committee who is associated 

with a member organization cannot 

participate in the deliberations 

concerning the listing of a security if the 

Director knows that an affiliate of the 

member organization directly or 

indirectly owns one percent or more of 

any class of stock of the issuer or has a 

contract, option, or privilege to 

purchase the security to be listed. The 

Exchange proposed to amend NYSE 

Rule 22 to provide that a member of 

certain NYSE boards and committees 

may not participate in the consideration 

of any matter if there are certain types 

of indebtedness between the board or 

committee member and a member 

organization’s affiliate or other related 

parties. The Exchange proposed to 

amend NYSE Rule 98A, which provides 

that no issuer, or partner or subsidiary 

thereof, may become an approved 

person of a Designated Market Maker 

(‘‘DMM’’) unit that is registered in the 

stock of that issuer, to provide instead 

that a DMM unit may not be registered 

in a stock of an issuer, or a partner or 

subsidiary thereof, if such entity is 

either an approved person or an affiliate 

of the DMM unit’s member organization. 

The Exchange proposed to amend 

Supplementary Material .30(c) of Rule 

402 to provide that when securities are 

callable in part under the Rule, a 

member organization may not allocate 

any called securities to the account of 

an affiliate until all customer positions 

have been satisfied. 

The Exchange also proposed to amend 

its rules to remove the requirement that 

the Exchange affirmatively approve each 

application to become an approved 

person, and accordingly, to remove all 

references to an approval process and 

the submission of an application for 

such approval from NYSE Rules 304, 

308, and 311. The Exchange also 

proposed to eliminate use of the Forms 

AP–1 and AD–G. 

The Exchange proposed to amend 

NYSE Rule 304 to provide specifically 

that a member organization would be 

required to identify all of its approved 

persons to the Exchange and each such 

approved person would continue to be 

required to consent to the Exchange’s 

jurisdiction. The Exchange also 

proposed to make technical and 

conforming changes to other rules. 

III. Discussion and Commission 

Findings 

After careful review, the Commission 

finds that the proposed rule change is 

consistent with the requirements of the 

Act and the rules and regulations 

thereunder applicable to a national 

securities exchange. In particular, the 

Commission finds that the proposed 

rule change is consistent with Section 

6(b) 5 of the Act, in general, and furthers 

the objectives of Section 6(b)(5) 6 in 

particular in that it is designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities, to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest. The Exchange noted that 

the proposed approved person 

definition and consent to jurisdiction 

process would remove unnecessary 

complexities and excessive 

informational requirements and create a 

more efficient and less burdensome 

process for membership applicants and 

member organizations while 

maintaining appropriate regulatory 

standards.7 As such, the Exchange 

believes that the proposed rule change 

would contribute to removing 

impediments to and perfecting the 

mechanism of a free and open market 

and a national market system.8 The 

Commission believes that the proposed 

rule change is consistent with the 

Exchange Act and should reduce the 

burdens on Exchange members while 

preserving the Exchange’s jurisdiction 

over approved persons and maintaining 

appropriate controls over approved 

persons. 

The Commission has reviewed the 

record for the proposed rule change and 

believes that the record does not contain 

any information to indicate that the 

proposed rule would have a significant 

effect on efficiency, competition, or 

capital formation. In light of the record, 

the Commission has considered the 

proposed rule’s impact on efficiency, 

competition, and capital formation and 

has concluded that the proposed rule is 

unlikely to have any significant effect.9

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 77, No. 67 / Friday, April 6, 2012 / Notices 20871 

10 15 U.S.C. 78s(b)(2). 

11 17 CFR 200.30–3(a)(12). 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,10 that the 

proposed rule change (SR–NYSE–2012– 

06) be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2012–8259 Filed 4–5–12; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Praesidian Capital Opportunity Fund 

III, LP; License No. 02/02–0647; Notice 

Seeking Exemption Under the Small 

Business Investment Act, Conflicts of 

Interest 

Notice is hereby given that Praesidian 

Capital Opportunity Fund III, LP, 419 

Park Avenue South, New York, NY 

10016, a Federal Licensee under the 

Small Business Investment Act of 1958, 

as amended (‘‘the Act’’), in connection 

with the financing of a small concern, 

has sought an exemption under Section 

312 of the Act and Section 107.730, 

Financings which Constitute Conflicts of 

Interest, of the Small Business 

Administration Rules and Regulations 

(13 CFR 107.730). Praesidian Capital 

Opportunity Fund III, LP proposes to 

provide debt and preferred equity 

financing to CB Restaurants, Inc. The 

financing is follow-on financing 

contemplated to fund working capital 

and capital expenditures. 

The financing is brought within the 

purview of § 107.730(a)(1) of the 

Regulations because Praesidian Capital 

Opportunity Fund III–A, LP, Associate 

of Praesidian Capital Opportunity Fund 

III, LP, holds an ownership position in 

CB Restaurants, Inc. that exceeds 10%. 

Therefore the transaction is considered 

as providing financing to an Associate, 

requiring prior written exemption from 

the Small Business Administration. 

Notice is hereby given that any 

interested person may submit written 

comments on the transaction within 15 

days of the date of this publication to 

the Associate Administrator for 

Investment, U.S. Small Business 

Administration, 409 Third Street SW., 

Washington, DC 20416. 

Dated: March 29, 2012. 

Sean J. Greene, 

Associate Administrator for Investment. 

[FR Doc. 2012–8326 Filed 4–5–12; 8:45 am] 

BILLING CODE P 

SMALL BUSINESS ADMINISTRATION 

Region II Buffalo District Advisory 

Council; Public Meeting 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice of open federal advisory 

committee meeting. 

SUMMARY: The SBA is issuing this notice 

to announce the location, date, time, 

and agenda for the next meeting of the 

Region II Buffalo District Advisory 

Council. The meeting will be open to 

the public. 

DATES: The meeting will be held on 

April 18, 2012 from approximately 9:30 

a.m. to 11:30 a.m. Eastern Standard 

Time. 

ADDRESSES: The meeting will be held at 

the Transit Valley Country Club, 8920 

Transit Road, East Amherst, New York 

14051. 

SUPPLEMENTARY INFORMATION: Pursuant 

to section 10(a)(2) of the Federal 

Advisory Committee Act (5 U.S.C., 

Appendix 2), SBA announces the 

meeting of the Region II Buffalo District 

Advisory Council. The Region II Buffalo 

District Advisory Council is tasked with 

providing information of public interest. 

The purpose of the meeting is so the 

council can provide advice and 

opinions regarding the effectiveness of 

and need for SBA programs, particularly 

the local districts which members 

represent. The agenda will include: 

district office, SBA programs and 

services, government contracting, 

disaster updates, lending activity 

reports, small business week, event 

announcements, and roundtable 

discussion on small business issues. 

FOR FURTHER INFORMATION CONTACT: The 

meeting is open to the public however 

advance notice of attendance is 

requested. Anyone wishing to attend 

and/or make a presentation to the 

Region II Buffalo District Advisory 

Council must contact Franklin J. 

Sciortino, district director, Buffalo 

district office by April 13, by fax or 

email in order to be placed on the 

agenda. Franklin J. Sciortino, District 

Director, Buffalo District Office, U.S. 

Small Business Administration, 540 

Niagara Center, 130 S. Elmwood 

Avenue, Buffalo, New York 14202; 

telephone (716) 551–4301 or fax (716) 

551–4418. 

Additionally, if you need 

accommodations because of a disability 

or require additional information, please 

contact Kelly Lotempio, EDS/PIO, 

Buffalo District Office, U.S. Small 

Business Administration, 540 Niagara 

Center, 130 S. Elmwood Avenue, 

Buffalo, New York 14202; telephone 

(716) 551–4301, kelly.lotempio@sba.gov 

or fax (716) 551–4418. 

For more information on SBA, please 

visit our Web site at www.sba.gov. 

Dated: March 26, 2012. 

Dan Jones, 

Committee Management Officer. 

[FR Doc. 2012–8324 Filed 4–5–12; 8:45 am] 

BILLING CODE P 

SMALL BUSINESS ADMINISTRATION 

Audit and Financial Management 

Advisory (AFMAC) 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice of open Federal advisory 

committee meeting. 

SUMMARY: The SBA is issuing this notice 

to announce the location, date, time, 

and agenda for the next meeting of the 

Audit and Financial Management 

Advisory (AFMAC). The meeting will be 

open to the public. 

DATES: The meeting will be held on 

Wednesday, April 18, 2012 from 1 p.m. 

to approximately 4 p.m. Eastern 

Daylight Time. 

ADDRESSES: The meeting will be held at 

the U.S. Small Business Administration, 

409 3rd Street SW., Office of the Chief 

Financial Officer Conference Room, 6th 

Floor, Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: Pursuant 

to section 10(a)(2) of the Federal 

Advisory Committee Act (5 U.S.C., 

Appendix 2), SBA announces the 

meeting of the AFMAC. The AFMAC is 

tasked with providing recommendation 

and advice regarding the Agency’s 

financial management, including the 

financial reporting process, systems of 

internal controls, audit process and 

process for monitoring compliance with 

relevant laws and regulations. The 

purpose of the meeting is to discuss the 

SBA’s Financial Reporting, Audit 

Findings Remediation, Ongoing OIG 

Audits including the Information 

Technology Audit, Recovery Act, 

FMFIA Assurance/A–123 Internal 

Control Program, Credit Modeling, 

LMAS Project Status, Performance 

Management, Acquisition Division 

Update, Improper Payments and current 

initiatives. 

FOR FURTHER INFORMATION CONTACT: The 

meeting is open to the public, however 

advance notice of attendance is 

requested. Anyone wishing to attend 

and/or make a presentation to the 

AFMAC must contact Jonathan Carver, 

by fax or email, in order to be placed on 

the agenda. Jonathan Carver, Chief 

mstockstill on DSK4VPTVN1PROD with NOTICES