Federal Register / Vol. 77, No. 70 / Wednesday, April 11, 2012 / Notices 21821 

5See Exchange Act Release Nos. 34–58059 (June 

30, 2008), 73 FR 36367 (July 9, 2008); 34–59442 

(February 24, 2009), 74 FR 9654 (March 5, 2009); 

and 34–62879 (September 9, 2010), 75 FR 56631 

(September 16, 2010). Consistent with past practice, 

the interpretative guidance will be available on 

OCC’s public Web site but not incorporated into 

OCC’s By-Laws and Rules. 

6 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

burdens associated with recurrent 

adjustments (especially option symbol 

proliferation), which were highlighted 

in the instance of DO (With this change 

in symbology, all adjusted series can 

normally be housed under the standard 

option symbol, dramatically reducing 

option symbol proliferation.); (2) OCC 

and the Committee believe alleviation of 

investor uncertainty is of paramount 

importance and have concluded that 

attempts to further modify the 

Amendment to provide more specific 

guidance about the application of the 

Amendment to particular cases may be 

complicated and thereby create even 

more uncertainty for investors; and (3) 

If the reclassification policy is 

rescinded, non-ordinary dividends 

which have occasioned adjustments in 

the past will ordinarily continue to 

occasion adjustments in the future and 

thus alleviate investor uncertainty. 

The reclassification policy applied to 

listed options was discussed in and 

published in interpretative guidance, 

which will be updated to reflect its 

rescission.5 Clean and marked copies of 

the updated interpretative guidance are 

available as described below. The 

marked copy shows changes from the 

current language. 

* * * * * 

The proposed change is consistent 

with Section 17A of the Act because it 

facilitates the prompt and accurate 

clearance and settlement of securities 

transactions and the protection of 

investors and reduces unnecessary costs 

and burdens on investors and persons 

facilitating transactions on their behalf. 

It does so in response to investor 

feedback by reducing uncertainty 

regarding adjustments for certain cash 

dividends and distributions. The 

proposed rule change is not inconsistent 

with the existing rules of OCC, 

including any other rules proposed to be 

amended. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

OCC does not believe that the 

proposed rule change will have any 

impact or impose any burden on 

competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

OCC has not solicited and does not 

intend to solicit comments regarding 

this proposed rule change. OCC has not 

received any unsolicited written 

comments from interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change was filed 

pursuant to Section 19(b)(3)(A) of the 

Act and paragraph (f)(1) of Rule 19b–4 

thereunder and therefore became 

effective on filing although OCC will 

delay the implementation of the rule 

change until it is deemed certified 

under CFTC Regulation § 40.6. At any 

time within sixty days of the filing of 

such 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 may be 

submitted by using the Commission’s 

Internet comment form (http:// 

www.sec.gov/rules/sro.shtml), or send 

an email to rule-comments@sec.gov. 

Please include File No. SR–OCC–2012– 

05 on the subject line. 

• Paper comments should be sent 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–OCC–2012–05. 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 such filing 

also will be available for inspection and 

copying at the principal office of OCC 

and on OCC’s Web site at http://

www.optionsclearing.com/components/

docs/legal/rules_and_bylaws/sr_occ_12_

05.pdf. 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–OCC–2012–05 and should 

be submitted on or before May 2, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–8708 Filed 4–10–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66743; File No. SR–CBOE– 

2012–034] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Correct Hyperlink in 

Rule 5.5A 

April 5, 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 April 2, 

2012, Chicago Board Options Exchange, 

Incorporated (the ‘‘Exchange’’ or 

‘‘CBOE’’) filed with the Securities and 

Exchange Commission (the 

‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the Exchange. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 


wreier-aviles on DSK5TPTVN1PROD with NOTICES
21822 Federal Register / Vol. 77, No. 70 / Wednesday, April 11, 2012 / Notices 

3See Securities Exchange Act Release No. 60995 

(November 13, 2009), 74 FR 60008 (November 19, 

2009) (Notice of Filing and Immediate Effectiveness 

of Proposal to Codify Certain Provisions of the 

Options Listing Procedures Plan into CBOE’s 

Rules). 

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

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

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f). 8 17 CFR 200.30–3(a)(12). 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

CBOE proposes to correct a hyperlink 

to the Options Listing Procedures Plan 

(‘‘OLPP’’) in Rule 5.5A. No substantive 

changes are proposed in this filing. The 

text of the proposed rule change is 

available on 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 

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 those statements may be examined at 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

In SR–CBOE–2009–084, the Exchange 

codified in new Rule 5.5A certain 

provisions of the OLPP pertaining to 

selecting new option series and certain 

strike setting parameters that had been 

previously adopted under the OLPP.3

As a courtesy to users of the Exchange’s 

electronic rules, CBOE set forth the 

hyperlink to a complete copy of the 

OLPP in Rule 5.5A(a). The Options 

Clearing Corporation maintains the Web 

site where the complete copy of the 

OLPP is located. The hyperlink in Rule 

5.5A(a) has changed since Rule 5.5A 

was originally adopted. CBOE now 

proposes to amend Rule 5.5A(a) by 

setting forth the updated hyperlink to a 

complete copy of the OLPP. No 

substantive changes to CBOE rules are 

being made by this proposal. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) 4 of the Act and the rules 

and regulations under the Act, in 

general, and furthers the objectives of 

Section 6(b)(5),5 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, 

and to remove impediments to and 

perfect the mechanisms of a free and 

open market and a national market 

system, and, in general, to protect 

investors and the public interest. The 

proposal will protect investors and the 

public interest by providing them with 

the correct hyperlink from which to 

access a complete copy of the OLPP. 

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 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 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A) 6 of the Act and paragraph (f) 

of Rule 19b–4 7 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 email to rulecomments@sec.gov. Please include File 

Number SR–CBOE–2012–034 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–2012–034. 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 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 No. SR–CBOE– 

2012–034 and should be submitted on 

or before May 2, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–8709 Filed 4–10–12; 8:45 am] 

BILLING CODE 8011–01–P 


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